Acquisition of property by foreigners

The Investment Promotion Act and the Investment Promotion Regulations provide for the acquisition of property by foreigners under three different schemes which are governed by the Board of Investment (BOI). Developed with the foreign investor/buyer in mind, these schemes are rapidly turning Mauritius into a highly sought-after real estate investment destination whether for ownership or for buy-to-let schemes.

Integrated Resort Scheme (IRS)

Under the so-called Integrated Resort Scheme (IRS), luxury residential units, with attending services and amenities, can be developed on freehold land of more than 10 hectares. Each unit – a luxury villa, apartment or penthouse – should be sold at a minimum legal price of USD 500,000 (excluding taxes) and the foreign buyer is de facto granted a residence permit in Mauritius.  The extent of land in respect of any individual IRS property, other than for an apartment or a penthouse, should not exceed 1.25 Arpents.

Real Estate Scheme (RES)

The Real Estate Scheme (RES) for small landowners allows the development, on freehold land of an extent of at least 1 Arpent (4,221 square metres) but not exceeding 10 hectares (23.69 Arpents), of any mix of residences for sale mainly to non-citizens at no minimum price. However, the acquisition of a property worth at least 500,000 USD will also entitle the foreign purchaser to a residence permit in Mauritius. This scheme has been designed mainly for foreign investors, retirees or professionals seeking to invest, work or live in Mauritius or for those looking for a second home or holiday retreat in Mauritius.

Invest Hotel Scheme (IHS)

The Invest Hotel Scheme (IHS) allows property developers to sell hotel rooms, villas, suites or any other part of a hotel to individual buyers, including foreign citizens, during and post construction phases.
A hotel project under this scheme can be developed on either freehold or leasehold land which must be of an extent of at least 1 hectare. On acquisition, the buyer secures ownership title to a specific unit or part of the hotel. The definition and management of the units and other parts of the hotel are set out in a “règlement de copropriété” which is governed by the provisions of the Mauritian Civil Code.

Past Projects

The Villas de Tamarin was the first RES project undertaken by SPS. The entire project was completed over a period of 18 months (inclusive of project appraisal and approval time by BOI) and proved extremely successful amongst buyers, with most of the units sold on the basis of architectural plans within a few days after being launched.

To view Les Villas de Tamarin, please click here

Up-coming projects

SPS is currently considering the development of a new RES on the West Coast and another one in the northern region. Interested buyers are invited to contact SPS. Please click here to fill in the contact form.