Mauritius is known for its pleasant tropical climate, multiculturalism, and spectacular living environments, but its dynamic economy, attractive tax regimes, and competitive business landscape have bolstered the country’s global stature and are attracting high-net-worth individuals and families from around the globe. For those who wish to reside in this island nation, the Mauritius Residence by Investment Program is the most efficient way to acquire such status. Under this program, individuals who invest into the nation’s real estate market can become Mauritian residents within two to six months.
The Mauritius Residence by Investment Program is ranked 10th out of 24 programs on the Global Residence Programs Index.
Benefits of the Mauritius Residence by Investment Program
- Opportunity to rent out the investment property
- Residence applicable to the whole family (including spouse or common law partner, unmarried financially dependent children of any age, and parents of the permit holder)
- Safe, secure environment with tropical climate year-round
- International schools and universities
- Political, social, and economic stability
- Among the top 20 countries in the world for ease of doing business
- Sophisticated, transparent, and well-regulated international financial center
Requirements of residence by investment in Mauritius
The Mauritius Residence by Investment Program requires that a foreign individual invests in one of four main real estate projects.
- The Integrated Resort Scheme (IRS)
Luxury residential property with a minimum value of USD 375,000, with a land area exceeding 10 hectares
- The Real Estate Scheme (RES):
Luxury residential property with a minimum value of USD 375,000, smaller than the IRS units and built on freehold land not exceeding 10 hectares
- The Property Development Scheme (PDS):
Luxury residential property with a minimum value of USD 375,000, for an integrated project of social benefit to the neighboring community. The projects are subject to strict controls regarding respect for the environment and must focus on ecology
- The Smart City Scheme (SCS):
Luxury residential property with a minimum value of USD 375,000. SCS projects must be environmentally friendly living, working, or leisure spaces aimed at generating their own energy and water resources, providing state-of-the-art connectivity, creating smart modern transportation, and reducing traffic congestion
Procedures and time frame of Investing in Mauritius
Applications to the program must be made through the prescribed forms and must be accompanied by the appropriate fees. Supporting documents including a recent certificate of morality and a recent medical certificate from the applicant stating that they are free of contagious diseases are also applicable.
The real estate investment must be maintained for the duration of the residence permit and must be financed from outside funds transferred to Mauritius through a bank recognized by the Bank of Mauritius.
After initial due diligence checks have been conducted, the applicant may choose their preferred property. Once approval in principle has been granted and the applicant has fulfilled the investment, the application for residence can be submitted to the Economic Development Board of the Republic of Mauritius. Following successful due diligence checks, the applicant (and included family members) receives a Mauritian residence permit.
Dependents include spouses or partners, parents, and unmarried, financially dependent children (including stepchildren and adopted children) of any age who are not gainfully occupied.