Real Estate & Hospitality

The Smart Cities, revolving around the work, live and play concept, are large-scale mixed-use developments in cosmopolitan conurbations with smart technology and pioneering innovation at their core. The focus is to promote Mauritius as an intelligent, innovative and sustainable island through the development of self-sufficient cities offering integrated sustainable solutions and ensuring minimum wastage and maximum comfort for the long-term benefit of all citizens and the future generations irrespective of social and economic class.

Smart cities offer diversity in business locations for investments in education, health, R & D, biotechnology, financial, ICT, manufacturing, hospitality, energy, logistics, proptech and urban management solutions, retirement village, incubator, and green office buildings amongst others.

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)

A foreigner also has the opportunity to acquire residential properties in existing projects, namely the Integrated Resort Scheme (IRS) and the Real Estate Scheme (RES). The non-citizen and dependents are eligible for a residence permit by virtue of the acquisition under the IRS, RES and PDS schemes when he has invested a minimum amount of USD 375,000. The owners may rent the property, become tax resident in Mauritius and face no restriction on the repatriation of funds or revenue raised from the sale or renting of the property.

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

The Invest Hotel Scheme has been set as an alternative financing mechanism where new hotel developers and existing hotel companies are allowed to sell hotel rooms to finance the construction of new hotels or refurbishment, reconstruction, alteration or upgrading of existing hotels.This scheme allows investors and individual guests to partake in the success of Mauritius’ thriving strategic hospitality sector by becoming an owner of exclusive hotel units located in Mauritius. It offers individual buyers all the facilities of exquisitely-furnished luxury resort hotel with amenities like F&B, fully serviced spas and fitness centres, resort-style pools with a promise of an income. The unit owner or any person on his behalf may use that unit for a total of 45 days in any period of 12 months. As well as enjoying the privilege of their hotel unit, each owner has the prospect of sharing in unexploited hotel returns and enjoy diversification benefits through lease back.

The Property Development Scheme (PDS), is one of the approved schemes, which has been designed to facilitate the development and subsequent purchase of luxurious properties by non-citizens in Mauritius. To draw on opportunities from the PDS, property developers can also engage in comprehensive development of luxury villas and outstanding residential properties to the highest international standards together with high quality open spaces, high-class leisure and recreational facilities as well as day-to-day management services. On acquisition of residential property for a price exceeding USD 375,000, a non-citizen is granted a residence permit for so long as he/she holds the residential property. 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.

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.

Downloads

• Application form for Acquisition of Apartment
• Guidelines for Acquisiton of Appartments & Residency permit

As announced in Budget 2021/22 and pursuant to Section 5(1)(ga) of the Immigration Act, a residence permit is now granted to the non-citizen upon acquisition of a residential property in a building of at least 2 floors above ground floor for an amount not lesser than USD 375,000 or its equivalent in any other freely convertible foreign or Mauritian currencies. The residence permit is valid for as long as the non-citizen remains the owner of the residential property under the G+2 scheme.

Downloads

• Guidelines for Acquisiton of Appartments & Residency permit

Hotel Development
The crystal-clear blue waters, the glorious stretch of white coast, illustrious natural attractions, tropical climate and friendly multi-cultural population makes Mauritius the ideal destination for a relaxing and rejuvenating holiday. With a clear objective to transform Mauritius into an unbeatable island holiday destination, tourist arrivals will keep the growth momentum seen in the last 5 years whereby the number of arrivals grew from 965,441 in 2012 to 1,341,860 in 2017. This growth would be achieved through extensive investment in world class infrastructure and attracting leading hotel operators in Mauritius. For those seeking to invest in this strategic growth sector, Mauritius is a highly rewarding destination with enormous potential.

High Class Business Hotels
On the route to Asia, not far from Africa, lies an island of opportunities named Mauritius. Our location makes us one of the best places to do business in the world, as we are at the heart of a golden triangle of opportunities between Asia, the Middle East and Africa. The Air Corridor connecting Africa and Asia and a dominant investment in advanced technologies has further cemented the country’s status as an empowered regional business and financial hub and a prime destination for MICE activities. This has propelled the existing business hotels to new heights and has opened significant scope for the growth of business tourism. Undeniably, the development of high-class business hotels is a highly lucrative area with untapped potentials.

Eco tourism and eco-friendly destinations have become catch phrases in the tourism industry. With the ambition of government to smooth out tourism seasonality, new avenues in the eco-tourism sector are being explored. Mauritius is endowed with multifaceted attractions such as mountains, parks, valleys, rivers, sandy beaches, glorious traditions, flora and fauna. The country thus offers fantastic opportunities for eco-tourism development in terms of chalet residences, hiking, trekking, quad biking, mountaineering, bird and dolphin watching.