Are you looking to live on the beautiful island of Mauritius or invest in a return on investment type of property? People from all over the world contact Seeff daily in search of the perfect real estate matching their needs.

Owning a property in Mauritius is made possible through different schemes put in place by the government.

Acquiring property can be a viable investment opportunity and it is advisable to consult with a local real estate agent who can provide personalised advice and guidance on acquiring property in Mauritius.

We invite you to view our portfolio of properties and developments for sale: (Click here to view our portfolio of properties for foreigners)

Let’s have a closer look at these schemes:

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Ground Floor + 2 Apartments

Non-citizens are allowed to purchase apartments in developments of at least two levels above ground (G+2) with the prior approval of the Economic Development Board.

Starting Price: As from MUR 6 million and up.

Residence Permit: Any non-citizen who has acquired an apartment for a price not less than USD 375,000 will be eligible to a residence permit. It remains valid so long as the non-citizen holds the apartment.

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Integrated Resort Scheme (IRS)

The Integrated Resort Scheme (IRS) is meant for the development of luxurious residential units such as villas, apartments, penthouses, townhouses and serviced lands located in projects which boast golf courses, marinas, restaurants, shops etc.

The owners may rent the property, become a tax resident in Mauritius and face no restriction on the repatriation of funds or revenue raised from the sale or rent of the property.

Starting price: minimum price of USD 375,000.

Residence Permit: any person purchasing an IRS property to the value of USD 375,000 and above, is entitled to permanent residency, as well as his (her) spouse and any dependents. The spouse and children below the age of 24 are also granted a residence permit.

Non-citizens who have a residence permit under IRS will be exempted from an Occupation or Work permit to invest and work in Mauritius.

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Real Estate Scheme (RES)

The Real Estate Scheme (RES) is a smaller version of the IRS offering more affordable types of residences such as villas, apartments, penthouses and townhouses.

The owners may rent the property, become a tax resident in Mauritius and face no restriction on the repatriation of funds or revenue raised from the sale of rent of the property.

Starting price: no minimum price.

Residence Permit: any person purchasing an RES property to the value of USD 375,000 and more, is eligible to a residence permit. The spouse and children below the age of 24 are also granted a residence permit.

Non-citizens who have a residence permit under RES will be exempted from an Occupation or Work permit to invest and work in Mauritius.

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Property Development Scheme (PDS)

The Property Development Scheme (PDS), which has replaced the IRS and RES, allows the development of a mix of residences for sale to non citizens.

The owners may rent the property, become a tax resident in Mauritius and face no restriction on the repatriation of funds or revenue raised from the sale of rent of the property.

Starting price: no minimum price.

Residence Permit: any person purchasing a PDS property to the value of USD 375,000 and up, is eligible to a residence permit. The spouse and children below the age of 24 are also granted a residence permit.

Non-citizens who have a residence permit under PDS will be exempted from an Occupation or Work permit to invest and work in Mauritius.

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Smart City Scheme (SCS)

The Smart Cities are large-scale mixed-use developments revolving around the work, life and play concept, with smart technology and pioneering innovation at their core. Within this scheme, a non-citizen can acquire villas, apartments, penthouses, townhouses as well as serviced lands.

The owners may rent the property, become a tax resident in Mauritius and face no restriction on the repatriation of funds or revenue raised from the sale of rent of the property.

Starting price: no minimum price

Residence Permit: any person purchasing an SCS property to the value of USD 375,000 and more, is eligible to a residence permit. The spouse and children below the age of 24 are also granted a residence permit.

Non-citizens who have a residence permit under PDS will be exempted from an Occupation or Work permit to invest and work in Mauritius.

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Senior Living Residence

Projects falling under the scheme PDS for Senior Living are designed for adults aged 50 years old and up who are looking for all the facilities offered to a senior citizen.

Starting price: no minimum price.

Residence Permit: The non-citizen aged above 50 years can choose to apply for a residence permit for himself/herself and his/her spouse or common law partner until such time the property is no longer owned or occupied by the retiree.

Invest Hotel Scheme

The Invest Hotel Scheme (IHS) allows a non-citizen to acquire units within a hotel and benefit from all the facilities offered.

Starting price: no minimum price.

Residence Permit: any person purchasing a unit/room under the IHS to the value of USD 375,000 and more, is eligible to a residence permit.

Source: EDB Mauritius

Buying a property, particularly one outside of your own country, can be a complex and challenging process. There are many factors to consider, including legal and financial requirements, cultural differences, and language barriers. It is important to have a clear understanding of the local real estate market and the laws and regulations governing property ownership in the country where you are considering buying a property. But rest assured, we accompany our clients throughout their entire journey and make sure that their needs and objectives are met with the utmost attention.

Adequate procedures and process that are important for a fluid property acquisition in Mauritius

Who can buy a property in Mauritius?

  1. a non-citizen of Mauritius
  2. a citizen of Mauritius
  3. a company registered as a foreign company under the Companies Act 2001
  4. a company incorporated under the Companies Act 2001
  5. a société, where its deed of formation is deposited with the Registrar of Companies
  6. a trust, where the trusteeship services are provided by a qualified trustee (management

company or such other person resident in Mauritius) licenced by the Financial Services Commission.

Process for acquisition of a Residential Property

An application shall be made to the Economic Board of Development with the submission of the following documents:

  1. Application form duly filled in
  2. Letter confirmation from the bank or notary stating that the KYC (Know your Client) was completed
  3. A certified passport copy
  4. A certified birth certificate copy
  5. A copy of the presale contract (CRP) duly signed at a notary’s office
  6. A non-refundable processing fee of Rs 20,000 paid to the EDB

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Payment Structure of an off-plan development

In accordance with the provisions of Article 1601-30 of the Code Civil, the price of an off-plan residential unit when sold under “VEFA” is payable in instalments as the work progresses. Payments as per below:

  • Upon signature of the presale agreement: 10%
  • Upon signing of the deed: 15%
  • Upon completion of the foundation works: 10%
  • Upon completion of roofed-in phase: 35%
  • Upon completion: 25%
  • Upon availability of premises: 5%

Payment Structure of an already built property (resale)

This can vary depending on what has been arranged between the seller and the buyer but here is a general overview of the typical payment structure for a property purchase in Mauritius:

  1. Deposit: Upon signing the CRP (Preliminary Reservation Contract) at the notary, the buyer is typically required to pay a deposit, which is a portion of the purchase price. This deposit is usually 10-15% of the total purchase price and is held in the notary’s escrow account until the transfer of ownership is completed.
  2. Balance of the purchase price: The balance of the purchase price is typically due on the day of the signature of the Title Deed at the notary’s office. This signature can be done at any time convenient to the cash buyer and it will take about 3 to 4 months for a loan buyer from the moment the CRP is signed.
  3. Closing costs: In addition to the deposit and the balance of the purchase price, there are other costs associated with purchasing a property in Mauritius, such as legal fees, stamp duty, registration fees, agency fees and notary fees.

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Process for a Residence Permit eligible for acquisitions as from USD 375,000

Documents to be submitted to the EDB:

  1. Duly filled Residence Permit application form (by main applicant and his/her dependents)
  2. Certified true copies of passport and birth certificates for each applicant;
  3. Two passport size photographs for each applicant;
  4. Medical Certificates for each applicant with a validity period of 6 months;
  5. Morality Certificates of applicants, above the age of 18, with a validity period of 6 months;
  6. Notary certificate attesting that the deed for the residential property has been duly registered and
  7. transcribed;
  8. In case of a couple – a certified true copy of the marriage certificate or a ‘certificat de
  9. concubinage’ or an ‘affidavit’ whichever is applicable; and
  10. Duly filled Passport & Immigration UID Form 

Additional information will be requested for clients acquiring through a company, trust or society.

Mauritius has become an increasingly popular destination for people who are looking to work, live, and retire in a new country. Throughout the years, our island has welcomed many non-citizens from all corners of the world in search of a new start on this paradise island.

Some factors to consider when evaluating investment opportunities in Mauritius include

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Work Opportunities

Mauritius has a diverse and growing economy, with opportunities in sectors such as tourism, finance, and technology. 

Cost of Living

The cost of living in Mauritius is relatively high compared to other African countries, but it is still lower than in many developed countries. Factors such as housing, food, and transportation costs can vary depending on the location and lifestyle you choose.

Healthcare

Healthcare in Mauritius is generally of a high standard, and there are both public and private hospitals available. However, it is advisable to have comprehensive health insurance in case of any unexpected medical expenses.

Quality of Life

Mauritius is known for its high quality of life, with a warm and sunny climate, beautiful beaches, and a diverse and friendly population. There are also many cultural, sporting, and recreational activities available, which can make it an attractive destination for those looking to work, live, or retire in a new country.
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Visa and Residency Requirements

To work, live, or retire in Mauritius, you may need to obtain a visa and residency permit and different permit options have been put in place.

Seeff proposes an array of accommodation facilities, from apartments to high-end villas and beachfront properties.

A non-citizen can apply for an Occupation Permit / Residence Permit under any of the following 4 categories:

Investor:

Occupation Permit – Option 1: An initial transfer of USD 50,000 should be made in the bank account of the company.
For OP renewal, the company should generate a minimum gross income of MUR 4 million as from the third year of registration.

Validity – 10 years renewable.

Occupation Permit – Option 2: Net asset value of USD 50,000 for existing businesses and the business activity should generate a turnover of at least MRU 12 million during the first 3 years preceding the application. For OP renewal, the company should generate a minimum gross income of MUR 4 million as from the third year of registration.

Validity – 10 years renewable.

Permanent Residence Permit – Achieving an annual gross income of at least MUR 15 million for 3 consecutive years preceding the application for the Permanent Residence Permit application or achieving an aggregate turnover of MUR 45 million for any consecutive period of 3 years preceding the Permanent Residence Permit application.

Validity – 20 years.

Professional:

Occupation Permit – Basic minimum salary should be of at least MUR 30,000 monthly.

Permanent Residence Permit – Eligibility to apply for a 20 year PRP upon receiving a monthly basic salary of at least MUR 150,000 for 3 consecutive years preceding the Permanent Residence Permit application.

Self-Employed:

Occupation Permit – Initial investment of USD 35,000 should be made to his/her bank account. For renewal, the business should generate a business income of MUR 800 000 per year as from the third year of registration.

Validity – 10 years renewable.

Permanent Residence Permit – Achieving an annual business income of at least MUR 3 million for 3 consecutive years, immediately preceding the Permanent Residency application.

Validity – 20 years.

Retired:

Residence Permit – A Retired Non-Citizen must be aged 50 years and above and should transfer at least USD 1500 monthly to his/her local bank account in Mauritius, to benefit from a 10 year Residence Permit.

Possibility to apply for a 20 year Permanent Residence Permit after 3 consecutive years.

Note: Dependents of OP or RP Holder: Dependents of an OP or RP holder are eligible to apply for a residence permit. They include the spouse (including Common Law Partner of the opposite sex), parents of OP/RP Holder and children including step children and or lawfully adopted children, under 24 years of age.

(Source EDB)

Mauritius can proudly boast itself as being a top destination to invest into due to its perfect location between Africa and Asia and the fiscal benefits it offers to investors. The island is opening its doors to foreign investments and as a result of its best practice strategy, Mauritius has become a focal point for tax policies, ethics, transparency, political as well as  economic freedom and good governance. Investors are flocking our island in the middle of the Indian Ocean. Investing in Mauritius can be a good option for individuals looking to diversify their portfolios and potentially generate returns

Some factors to consider when evaluating investment opportunities in Mauritius include

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Great Weather

Mauritius enjoys fantastic weather all year round and people looking to live ‘under the sun’ will certainly get what they are looking for. Mauritius has only two seasons; Summer from November to April and Winter from May to October

Fiscal Benefits

Mauritius offers several tax incentives for investors, including a low corporate tax rate and favourable tax treatment for foreign investors. Corporate and individual income taxes at 15%, no inheritance tax, no capital gains tax, free repatriation of profits, dividends and capital. Who would not want to enjoy these benefits?

Safety

If you are looking for a safe place, then Mauritius is the place to live. Mauritius is generally considered to be a safe country. The country has a low crime rate and a stable political environment, which have helped to create a secure environment for its citizens and visitors. The police force in Mauritius is well-trained and equipped to handle crime and security incidents, and the government has taken steps to enhance security measures and reduce the risk of crime.The fact that you can raise your family in such an environment is priceless in today’s world.
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Developing country

According to the World Bank, Mauritius is classified as a lower-middle-income country. Despite this classification, Mauritius is considered to be a relatively high-income developing country and is often seen as a leader in the African region in areas such as economic growth, human development, and political stability.

In recent years, the island has made significant progress in areas such as infrastructure development, education, and healthcare, which has helped to improve the standard of living for its citizens. The country has a well-developed financial sector and has attracted significant foreign investment, which has supported economic growth and development.

Strategic location

20° 17′ S and 57 ° 33′ E – this is where we are; right in the middle of the Indian Ocean, at a crossroads with Asia, Africa and Australia. Mauritius is strategically located near major shipping lanes and has good transport links to other African countries, making it an attractive destination for businesses looking to expand into the region.It is then without a doubt that Mauritius has become the perfect location hub for doing business.

Property Growth

The property market in Mauritius has seen growth in recent years, driven by a growing economy, increasing foreign investment, and a growing tourism industry. Foreign demand is a driving force behind Mauritius’ real estate boom. The housing market is flourishing post Covid, and the island’s strong tourism industry with a rise in arrivals has prompted a rise in the rental demand. This healthy property market is inciting more and more expats to purchase property in Mauritius and they could be looking at a property growth value expectancy of 40% to 50% within the next 10 years. Having said that; it is crucial to buy the right property within the right location at the right price and this is where working alongside a reliable real estate agency like Seeff becomes a real necessity as our experienced property consultants will guide and advise you in choosing the right property according to your needs and budget.
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Increasing Foreign Investment

Mauritius has seen an increase in foreign investment, which has driven demand for both residential and commercial properties. This demand has, in turn, supported property prices and growth.
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Economic and Political stability

Mauritius has a stable economy with a relatively high level of economic growth compared to other African countries. The stable and growing economy of Mauritius has supported the growth of the property market, making it an attractive destination for both local and foreign investors. Mauritius is a stable democracy with a long history of peaceful transitions of power. The country has a well-established system of governance and a relatively low level of corruption, which have helped to maintain stability and support continued economic growth.
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Favourable Business Environment

The country has a favourable business environment, with a relatively low level of bureaucracy and regulations compared to other African countries, which have all  contributed to the country’s economic growth and attracted foreign investment.
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Growing Tourism Industry

The growing tourism industry in Mauritius has created opportunities for investment in the hospitality and tourism sector, including the development of new hotels and resorts, which has further driven demand for property in the country.

However, it’s important to thoroughly research and evaluate any investment opportunity before making a decision. Additionally, it’s advisable to consult with a financial advisor or real estate professional for personalised advice that takes into account your specific investment goals and risk tolerance.

In a nutshell - Top 10 Reasons to invest in Mauritius

  1. Mauritian Residency with purchases as from USD 375 000
  2. A low-jurisdiction. Corporate and individual income taxes are at 15%
  3. No Inheritance Tax
  4. No Capital Gains Tax
  5. Free repatriation of profits, dividends and capital
  6. Property growth value expectancy: 40%-50% within the next 10 years
  7. Real GDP Growth Rate: 4.8% (2021)
  8. World Bank Doing Business 2020 – Global Rank: 13th out of 190 countries / Africa Rank: 1st
  9. Perfect location hub for doing business. The middle point between Africa, Asia and Australia
  10. Mauritius ranked the highest in the region in terms of infrastructure growth

Favourable Economic conditions for Investors

  • Investor Protection has always been one of significant advantages
  • The country is signatory of several treaties and multilateral agreements assuring the protection of the foreign investors
  • DTAA [Double Tax Avoidance] with countries like France and South Africa
  • No exchange Control
  • Economically and Politically stable