As global wealth shifts and economic landscapes evolve, Mauritius is a top destination for high-net-worth individuals (HNWIs) seeking second residency. With favourable tax policies, strategic location, and high quality of life, the island has seen a surge in residency by investment applications, a trend expected to continue into 2025. Moreover, a Mauritius passport is ranked 26th out of 199 in the latest Global Passport Ranking by Henley & Partners, moving up four places from 2024 to offer holders visa-free access to 155 countries.
According to Henley & Partners’ 2024 Global Wealth Migration Report, the island remains largely insulated from global political and economic challenges, making it an attractive choice for the ultra-wealthy. Since gaining independence in 1968, the government has strategically leveraged the island’s prime location in the Indian Ocean – positioned between Asia, Europe, and Africa – to drive economic diversification and establish a world-class financial hub. This long-term vision has paid off, with Mauritius home to over 5,000 millionaires in 2024. The firm projects that Mauritius’s millionaire population will nearly double over the next decade.
Beyond just the numbers, how is this trend shaping the real estate market in Mauritius in 2025 and overall development for this island nation?
Table of Contents
Key immigration trends from 2024 shaping 2025
In the past year, more HNWIs have sought alternative residency options. Political and economic uncertainties elsewhere have motivated investors to diversify their residency portfolios, with Mauritius a consistently stable and attractive choice.
In July 2024, the Mauritian government introduced reforms to streamline the residency-by-investment process, making the programme more accessible and appealing. These included simplified application procedures, adjusted financial thresholds, and investment incentives in sustainable real estate developments.
Additionally, the government has expanded its eligibility criteria for Mauritius residency by investment, allowing entrepreneurs, digital nomads, and business professionals to qualify under new categories. That means a more diverse demographic of investors is looking to establish themselves on the island.
Strategic residency planning
For many affluent individuals, Mauritius offers a compelling value proposition for a second or third residency, including:
A robust legal framework
Zero capital gains and no inheritance tax
Strategic access to African and Asian markets
Double tax treaties.
Additionally, the residency-by-investment programme provides family-friendly benefits, including extending residency rights to spouses, children, and dependent parents. This potential adds to Mauritius’s appeal for multigenerational families seeking long-term security.
In an interview with Investment Monitor, Tom Hopgood, an economist at GlobalData, said, “Mauritius is one of the most business-friendly destinations in Africa, underpinned by a robust legal system which combines the French Code Civil and the British Common Law, an independent judiciary and solid democratic institutions that have a long history. It is also noteworthy that in the case of commercial litigation, the investors’ highest court of appeal is the judicial committee of the Privy Council in the UK.”
Global institutions such as the World Bank, Moody’s Rating, the OECD, the EU and The Financial Action Task Force (FATF) recognise the country’s regulatory framework.
“In the latest World Bank Ease of Doing Business report, Mauritius ranked 13th globally. Its competitive tax system has certainly contributed to this reputation, with no capital gains tax, dividend and interest withholding tax. A non-resident – subject to a deed of non-residence for settlor and/or beneficiaries – is exempt from income tax, and repatriation of profits, dividends, and capital is tax-free.”
Wealth protection and estate planning
Many HNWIs leverage Mauritius residency by investment to secure their wealth and facilitate estate planning. The jurisdiction’s financial privacy laws and business-friendly environment make it an attractive option for those looking to preserve generational wealth.
Moreover, Mauritius offers a range of private banking and wealth management services tailored to the needs of international investors.
The impact on the real estate market in Mauritius in 2025
With an influx of foreign investors, the real estate market in Mauritius in 2025 will continue to grow. Luxury beachfront properties, gated communities, and integrated developments are in high demand, driving property values upward – especially in sought-after areas such as Grand Baie, Tamarin, and Black River.
The limited availability of prime real estate has also contributed to a seller’s market. High-end properties are selling fast. This has incentivised developers to accelerate new projects and introduce innovative housing solutions tailored to international buyers.
Expanding real estate offerings
To cater to the evolving needs of investors, developers are introducing:
Smart city developments that integrate residential, commercial, and recreational spaces.
Eco-friendly housing projects aligned with sustainable living.
Exclusive waterfront properties catering to the ultra-luxury segment.
The Mauritius government actively promotes real estate investment through its Integrated Resort Scheme (IRS) and Property Development Scheme (PDS), offering permanent residency to buyers of qualifying properties valued above a certain threshold. This policy will sustain momentum in the property market.
Upgraded infrastructure and connectivity
To support the growing expat community, Mauritius is making substantial investments in infrastructure. Key developments include:
Expansion of major road networks to improve accessibility
Upgrades to the international airport to accommodate increased demand
Widespread implementation of high-speed internet to support digital nomads and entrepreneurs.
Additionally, government-backed initiatives are fostering the development of smart cities with cutting-edge technology integration. These developments aim to enhance efficiency, sustainability, and overall quality of life for locals and expats.
Enhanced healthcare and education
As more international families settle in Mauritius, the demand for world-class healthcare and education surges. Recent developments include:
The establishment of internationally accredited medical facilities
Expansion of top-tier international schools offering globally recognised curricula
New partnerships with global tertiary institutions to enhance higher education opportunities on the island.
These improvements are essential for attracting foreign investors who seek a well-rounded lifestyle that includes top-tier healthcare services and high-quality education for their children.
Adjustments to retirement visa conditions
Retirees can apply for a 20-year permanent residence permit after living in Mauritius for three consecutive years under the 10-year renewable retirement visa. This change provides greater long-term stability for foreign retirees looking to settle on the island.
Recent revisions to the retirement visa programme have increased the financial threshold to ensure that retirees have sufficient funds to sustain themselves. New conditions include:
A minimum monthly income of USD 1,800 (up from USD 1,500).
A bank balance of at least USD 18,000 is an alternative requirement.
Additionally, retirees must now have health insurance coverage, ensuring access to medical care without relying on public healthcare resources. This measure aims to maintain the financial stability of the country’s healthcare system.
Changes to legislation, in brief
On 6 December 2024, the Mauritian Cabinet approved amendments to regulations governing property purchases under IRS, RES, IHS, PDS, and SCS schemes. These changes introduce new mandatory payment requirements for non-citizens buying residential property.
Previous payment rules
Before the amendments, non-citizens could pay the entire purchase price in either:
Foreign currency (USD, EUR, or any hard convertible currency) or
Mauritius rupees (provided the buyer transfers funds from overseas).
Buyers had to transfer at least USD 500,000 from abroad if taking a local loan.
New payment rules (effective 13 December 2024)
Non-citizens must now comply with the following payment structure:
85% in Mauritius rupees (after transferring funds from abroad in hard currency).
15% in foreign currency or Mauritius rupees.
Notary’s role
Under the Notaries Act, the buyer must transfer payments for property purchases to the notary’s account in foreign currency (USD, EUR, or other hard convertible currency). The notary must then:
Transfer the remaining 15% in foreign currency or Mauritius rupees.
Register the notarial deed within eight days and pay registration duties in foreign currency.
Local loan financing (for properties above USD 750,000)
The buyer must transfer the first USD 750,000 (or equivalent) to Mauritius in Mauritius rupees.
Buyers can take a local loan in Mauritius rupees for the remaining amount but make the loan repayments in foreign currency.
These amendments apply to all new property acquisitions under the IRS, RES, IHS, PDS, and SCS schemes from 13 December 2024 onwards.
Pathway to Permanent Residency
As these trends unfold, Mauritius is well-positioned to solidify its status as a hub for global wealth and a gateway to Africa’s economic future. With its evolving policies and commitment to sustainable growth, the country offers a compelling proposition for investors looking for financial and lifestyle benefits.
Mauritius will remain one of the most attractive destinations for HNWIs seeking investment migration. The real estate market in Mauritius in 2025 will continue to thrive, driven by increasing demand from international investors. Meanwhile, infrastructural advancements, policy reforms, and enhanced public services reinforce the island’s reputation as a premier investment and lifestyle destination.
Many HNWIs leverage Mauritius residency by investment to secure their wealth and facilitate estate planning. The jurisdiction’s financial privacy laws and business-friendly environment make it an attractive option for those looking to preserve generational wealth.
With an influx of foreign investors, the real estate market in Mauritius in 2025 will continue to grow. Luxury beachfront properties, gated communities, and integrated developments are in high demand, driving property values upward – especially in sought-after areas such as Grand Baie, Tamarin, and Black River.
English