Mauritius is naturally blessed with permanently pleasant weather, an abundance of resources, a smooth-sailing political environment, and a rich cultural heritage. But the island has more to offer than just postcard-perfect conditions. Not only do non-citizens unlock the opportunity to reside in the country upon investment, they can apply for a Mauritian passport five years later. Whether you’ve got a startup venture brewing or have just retired, this tropical country has something for everyone. Here’s what you need to know about buying in Mauritius.
Buy your ticket to Mauritian residency
Under the Property Development Scheme (PDS), a non-citizen becomes eligible for a residency permit upon investing 500,000 USD in Mauritian property. The country has a good international reputation, in terms of its tax scenario, with rates as cost-effective as 15%. After owning property for five years, a non-national resident has the option of applying for a Mauritian passport.
Government regulations are as relaxed as the island’s lifestyle – allowing expat residents to flex their entrepreneurial talent. In addition to year-round sunshine and flawless beaches, Mauritius boasts a highly structured economy. It was ranked the best-performing country in Africa in a 2016 report published by The World Bank. Residents can conduct business globally, with no hidden fees.
Getting acquainted with Mauritian law
While non-citizens are allowed to rent freely, purchasing property is a different story. This is where the Integrated Resort Scheme (IRS) and the Real Estate Scheme (RES) step into the picture. Committed to granting foreigners their dream life on a tropical island, these real estate authorities overlook the construction of luxury residential complexes. Mauritius houses a wealth of premium apartments, extravagant holiday homes, and glamorous resorts estates.
Each authority has a distinct project style – the IRS typically commissions multiple blocks of villas designed for families, containing three to four bedrooms each. These residential communities tend to be situated close to main roads, gardens, public parks, and entertainment arenas. The RES takes a humbler approach with its residential projects, mainly producing apartments and cluster homes. While they’re built with premium materials, they’re typically equipped with fewer facilities.
A glimpse of everyday life in Mauritius
A cultural melting pot with a deep history, Mauritius boasts an inclusive society. Lives are dictated by hedonistic pursuits as the island is teeming with countless outdoor activities. The country is evolving at an admirable pace, attracting the attention of international powers like The World Bank. The country is dotted with private schools, luxury resorts, well-equipped hospitals and medical centers, spacious shopping malls, and much more. Given its mixed historical background, a variety of native languages forms the patchwork of the country’s mother tongue. These range from Indian dialects and Mauritian Creole to English and French. Socializing plays a significant role in everyday life, and mainly revolves around food culture and immersing oneself in nature.
Mauritius has a plethora of perks and is the perfect place to start the next chapter of your life.