The real estate development aims to make Mauritius a dynamic business and financial centre. The strategies at work consist of achieving the following three points:
• A competitive economy with world-class infrastructure (housing, retail and lifestyle),
• facilities and amenities to attract world-class players,
• regional headquarters and multinationals;
The island of Mauritius is blessed with sunshine all year round, as well as a coastline that is bathed by the warm waters of the Indian Ocean and spread over hundred kilometers, Mauritius remains the ‘place to be’. Ever since the promulgation of a more liberal property market, Mauritius has gained rising popularity with the internationally mobile community comprising HNWIs and influential business personalities. As such, non-citizens and expats are allowed to acquire residential property in Mauritius under schemes approved and managed by the Economic Development Board such as the:
• Integrated Resort Scheme (IRS)
• Real Estate Scheme (RES)
• Property Development Scheme (PDS)
The Non-Citizens (Property Restriction) Act allows foreigners to purchase apartments in condominium developments of at least two levels above ground (G+2) with the prior approval of the Economic Development Board, provided the purchase price of an apartment is not less than MUR 6 million or its equivalent in any other hard convertible foreign currency.
Live and Work in Mauritius
Recognized for its pleasing tropical climate and its dynamic economy, attractive tax regimes, political and social stability, multiculturalism, competitive business environment, warm hospitality, exceptional living environment and its multiple investment opportunities, Mauritius is classified as an ideal destination for foreign nationals to invest, work and live.
Application of permits and visas
(i) Permanent Residence Permit
Allows holders to work and live in Mauritius for a period of ten years under one of the following categories: Foreign Investor, or Holder of an Occupation Permit.
(ii) Residence Permit
Allows holders to live in Mauritius for a pre-defined period of time.
(iii) Occupation Permit
Combined work and residence permit which allows holders to reside and work in Mauritius under one of the following categories: Investor, Professional, or Self-Employed.
(iv) Premium Visa
– Mauritius has recently introduced a Premium Travel Visa, that is valid for a period of one year. Additionally, renewable, to any non-citizen who intends to stay in Mauritius for a maximum period of one year as a tourist, retiree or a professional willing to come with his/her family and carry out his business or work remotely from Mauritius.
– The Premium Visa application is processed within 48 hours for applications made from Monday to Friday. Applications submitted during the weekend will be processed on the next working day, i.e. on Monday. The application can be made close to the intended departure date. However, it is recommended that travellers submit an application well in advance of their intended departure date.
– All passengers under Premium Visa will have to go through the sanitary and health protocols established by the Ministry of Health and Wellness.