Mauritius is the most popular destination in the Indian Ocean. The island’s balmy tropical climate attracts visitors all year round. What’s more, Mauritius ranks among the top three in countries in Africa for woman safety. It boasts political and economic stability, a solid legal framework, appealing taxation policies and a strong banking system.
Over time, the Economic Development Board – Mauritius (EDB) has introduced various incentives for noncitizens and members of the Mauritius Diaspora to invest in real estate in Mauritius. The Property Development Scheme (PDS) now replaces the Integrated Resort Scheme (IRS) and the Real Estate Scheme (RES).
The PDS, which has replaced the IRS and RES, allows the development of a mix of residences for sale to noncitizens, citizens and members of the Mauritian Diaspora. Find out about 2Futures projects under this scheme.
PDS Projects, Ki-Resort, Ki-Residences
Under an IRS, the land area of the entire building complex must exceed 10 hectares.
Find out about 2Futures projects under this scheme.
Mont Choisy le Parc
RES properties are usually smaller residential developments built on land ranging between 4,220 and 100,000 m2. While there is no minimum price in an RES, permanent residency is only an option with a real estate investment of at least USD375,000. Find out about 2Futures projects under this scheme.
Cape Bay, Element Bay Beach, Element Bay II, La Residence, AO, Manta Cove, LDGB, LRMC
The Non-Citizens (Property Restriction) Act allows foreigners to purchase apartments in condominium developments of at least two levels above ground (G+2) with government approval. A luxury apartment investment here will cost at least MUR6 million or its equivalent in any other freely convertible foreign currency. This legislation allows noncitizens with or without an occupational permit to invest in more than one luxury apartment. They are also able to rent it out.
When you invest in property in Mauritius, you can get permanent residency. The government has made particular developments available for foreign investment. This falls within the legal framework of the PDS. To get this privilege, you must invest USD375,000 before tax or the equivalent in any other freely convertible currency.
Vente en État Futur d’Achèvement (VEFA) enables property investors to buy real estate off-plan in Mauritius. Contact 2Futures to find out more about our construction guarantees.
Garantie Financière d’Achèvement (GFA) is a financial guarantee that a buyer will get their property delivered in line with the terms of the contract. If the developer does not fulfil his obligations, the bank will ensure delivery of the property. This is a major advantage to buying a new home in Mauritius.
Local banks will give you the best bond rates and open a bank account for you. A 2Futures consultant will refer you to our partners.
Mauritius has signed a double taxation agreement with more than 40 countries, including France. Income tax for individuals and businesses is 15%. There is no capital gains tax, and no inheritance tax.
There is no housing or property tax in Mauritius. Instead a land transfer tax or BOI tax is levied equal to 5% of the sale value of the property at the time of the purchase.
Mauritius is one of the best places in the world to retire because of the attractive tax system. In addition, you get access to improved quality of life, which has a positive effect on health and well-being. Living in the island style never loses its appeal.
Retired noncitizens of Mauritius, aged 50 and more, can apply for a permit to live in Mauritius. There are some financial conditions. An initial transfer of at least USD1,500 or its equivalent in freely convertible foreign currency must be made to their local bank account in Mauritius. The same amount must be transferred monthly thereafter. In the 10 years of the permit’s validity, at least USD54,000 or its equivalent in freely convertible foreign currency must be accumulated. Evidence of the fund transfers must be supplied to the EDB at the end of each year.
The island’s land mass measures 2,040km2. That’s 65km long x 45km wide.
This tropical island is on the southeast coast of Africa.
The Mauritian summer is November to April. Temperatures vary between 25°C and 33°C. It is a tropical island so it can be humid. In winter, which is May to October, temperatures range between 17°C and 25°C. You can swim in the sea all year round. The water temperature is a wonderful 23°C to 28°C throughout the year.
English is the official language. French, Creole and Asian languages are also spoken.
1.3 million people live there.
According to the World Happiness Report published by the UN, Mauritius is still the happiest country on the African continent.
Mauritius is a multiparty parliamentary democracy. The ruling party is the Militant Socialist Movement (MSM). Prime Minister Pravind Kumar Jugnauth secured a five-year term in the 2019 election.
Mauritius is three hours ahead of Europe in winter and two hours in summer. South Africa is two hours behind Mauritius.
Infrastructures and facilities are modern, especially in the private hospitals and clinics. Public and private healthcare facilities are across the island. Many foreigners travel to Mauritius for cosmetic surgery, dentistry and hair grafting. Wellkin Hospital, the largest private hospital in Mauritius and part of the CIEL Healthcare network, does cardiac and spinal surgeries and high-end orthopaedic and urological procedures as well. Outcomes are really successful.
A pro golfer will smile if you ask them that question. They’ll say it depends on the day. Mauritius has so many amazing golf courses. You can play 9 to 18 holes amid the most spectacular scenery. Mont Choisy Le Golf on the Mont Choisy Golf and Beach Estate is the only 18-hole world-championship golf course in the north. A property purchase here gets you an exclusive and much sought-after membership.
There are good public and private schools. If you want to get your children into the English private schools, send in your applications long in advance so as not to be disappointed.
When you move to Mauritius you can use your own valid domestic licence or an international licence to drive for one month. You need to get a local licence after that.
Traffic is heavy in peak times and around the main business areas. Plan your trips to avoid being on the road then, if you can.
People love to swim, kite, stand-up paddle (SUP), snorkel, hike, cliff jump as well as walk in the nature reserves and mountains and along the beach. There is nothing wrong with lazing on the beach too. Don’t forget your sunscreen, umbrella and hat. In the west, a hike up Le Morne is a must. A hike to the Tamarin Falls is also an incredible experience, as is a visit to the Black River Gorges National Park.
South/southwest: The west is famous for its great kitesurfing conditions. Le Morne’s large lagoon and soft wave break is recommended. More advanced riders can try the One Eye reef break.
North: Cap Malheureux is an option but it is tidal so water levels fluctuate. You can SUP at many of the beaches along the coast though.