EDB champions the PDS and so much more

The Economic Development Board (EDB) is the anchor for institutions and individuals who want get the Mauritian Permanent Residence Permit and buy a property in Mauritius. The government formed the EDB in January 2018, merging three agencies into it. These trio includes the Board of Investment (BOI), Enterprise Mauritius, and the Financial Services Promotion Agency.

The EDB’s role, amongst other functions, covers the promotion of Mauritius as an attractive investment and business centre. As such, the board is the steward of programmes like the Property Development Scheme (PDS) enabling foreigners to invest in real estate.

Besides processing investor applications for programmes like the PDS, the EDB likewise handles the critical support mechanisms for them. In 2019, the board launched the National Electronic Licensing System (NELS). This digital mode quickly facilitates the processing of applications for businesses and permits complementary to the PDS.

A boost to ease of doing business

The NELS already covers the Morcellement Permit, the Building and Land Use Permit, and Environment Impact Assessment. All of these requirements are notably vital for PDS projects.  The EDB likewise utilises the system in processing  expat applications for an Occupation Permit.

The NELS has contributed much in elevating Mauritius as the no. 1 African country in ease of doing business. Globally, the country rose seven places to 13^th amongst 190 countries rated in the World Bank of Ease of Doing Business Report 2020.

The NELS project was an offshoot of the Economic Partnership Agreement (EPA) between Mauritius and the European Union. This pact was signed in 2017 and will be effective up to 2023. Its key objective is to promote a hospitable environment for those seeking to invest in Mauritius. The EU has initially allocated EUR10 million to help EPA meet this objective.

Significantly, the EU announced in a July 2020 press release its signing of a new EPA service contract with Mauritius. This service contract amounts to MUR90 million technical assistance as further support for improving the investment and business climate in Mauritius.

Rebate scheme for creative productions

Remarkably, the EDB’s programmes go beyond purely business endeavours like those under the PDS. Its economic pump-priming activities also include the Film Rebate Scheme which has a creative and cultural dimension to it.

This scheme offers cash-back incentives to high-end TV and film productions in Mauritius. It is open to both  local and foreign producers. They can get a 30–40 per cent rebate on their Qualifying Production Expenditure.

This scheme can do more besides developing the island as a film-making destination. It can also help marketing and promotion campaigns to encourage investments in its tourism and real estate sectors.

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