PROPERTY FREQUENTLY ASKED QUESTIONS
IS IT POSSIBLE TO BUY PROPERTY AND WORK IN MAURITIUS?
Where you obtain Permanent Residence through the acquisitions of a property in Mauritius above $375,000 you will not be able to work or earn a salary in terms of this permit. You will be limited to shareholding and earning dividends. Where you need to work, you will be required to obtain an Occupation Permit.
IS PROPERTY ACQUISITION INVESTMENT INCREMENTAL? I.E. IS ONE ABLE TO PURCHASE PROPERTY ON AN ONGOING BASIS AGGREGATING TO THE USD 375K OVER TIME AND THEREAFTER QUALIFYING FOR THE 20 YEARS PERMIT?
No – the application for residence is made on one property where the market value has to be equivalent to at least USD 375K. However, for the purposes of the Permanent Residence Permit (20 years) – you may invest in other business activities than property acquisition.
IS IT POSSIBLE TO BUY PROPERTY AND WORK IN MAURITIUS?
IS PROPERTY ACQUISITION INVESTMENT INCREMENTAL? I.E. IS ONE ABLE TO PURCHASE PROPERTY ON AN ONGOING BASIS AGGREGATING TO THE USD 375K OVER TIME AND THEREAFTER QUALIFYING FOR THE 20 YEARS PERMIT?
Where you obtain Permanent Residence through the acquisition of a property in Mauritius above $375,000, you will be able to work and earn a salary in terms of this permit or invest in any company of your choice.
No – the application for residence is made on one property where the market value has to be equivalent to at least USD 375K. However, for the purposes of the Permanent Residence Permit (20 years) – you may invest in other business activities than property acquisition.
IF ONE INVESTS $375 000 INTO PROPERTY ON THE IRS SCHEMES OR FOREIGN PROPERTY OWNER SCHEME, DO THEY RECEIVE PERMANENT RESIDENCE FOR 20 YEARS?
Yes, this is correct. 20-year period is due to take effect in September this year.
CAN I BUY VACANT LAND AND BUILD MY OWN HOUSE WITH A TOTAL INVESTMENT OF USD375 000 AND THEN QUALIFY FOR MY PRP?
You may do so but if the land is not under an government-approved scheme (which have their own building conditions), you will need to get prior approval from the PMO and this is usually a long and uncertain process.
IF ONE INVESTS $375 000 INTO PROPERTY ON THE IRS SCHEMES OR FOREIGN PROPERTY OWNER SCHEME, DO THEY RECEIVE PERMANENT RESIDENCE FOR 20 YEARS?
CAN I BUY VACANT LAND AND BUILD MY OWN HOUSE WITH A TOTAL INVESTMENT OF USD375 000 AND THEN QUALIFY FOR MY PRP?
Yes, this is correct. 20-year period is due to take effect in September this year.
You may do so but if the land is not under an government-approved scheme (which have their own building conditions), you will need to get prior approval from the PMO and this is usually a long and uncertain process.
WHAT HAPPENS WITH THE PROPERTY AND TO YOUR FAMILY'S PR PERMIT SHOULD YOU PASS AWAY AS THE OWNER?
That is a question which will have to take into consideration inheritance laws in Mauritius to determine who will be the new property owner upon the demise of the current one. It would be good to maybe review the current ownership structure to ensure certainty on this aspect? Please do get in touch with Marisa if you’d like to explore those avenues.
DO YOU HAVE TO WORK THROUGH AN ESTATE AGENT TO ACQUIRE AN APPROVED INVESTMENT PROPERTY?
It is not absolutely required to use a real estate agent to acquire property in Mauritius for the purpose of attaining residency. However, it is highly recommended to ensure you are purchasing in the qualifying developments and schemes and to ensure a smooth process with the Economic Development Board.
WHAT HAPPENS WITH THE PROPERTY AND TO YOUR FAMILY'S PR PERMIT SHOULD YOU PASS AWAY AS THE OWNER?
DO YOU HAVE TO WORK THROUGH AN ESTATE AGENT TO ACQUIRE AN APPROVED INVESTMENT PROPERTY?
That is a question which will have to take into consideration inheritance laws in Mauritius to determine who will be the new property owner upon the demise of the current one. It would be good to maybe review the current ownership structure to ensure certainty on this aspect? Please do get in touch with Marisa if you’d like to explore those avenues.
It is not absolutely required to use a real estate agent to acquire property in Mauritius for the purpose of attaining residency. However, it is highly recommended to ensure you are purchasing in the qualifying developments and schemes and to ensure a smooth process with the Economic Development Board.
WHAT TYPE OF PROPERTY IS NOW AVAILABLE FOR PURCHASE BY FOREIGNERS? DOES IT STILL HAVE TO BE AN IRS/RES/PDS OR SC?
IRS/RES/PDS schemes are available to all foreign citizens wishing to reside in Mauritius, however, under the recent announcements, purchasing in Smart Cities will be available to Occupation Permit holders.
WHAT OTHER TYPE OF INVESTMENTS ARE AVAILABLE APART FROM PROPERTY?
Other Mauritian companies and/or qualifying equipment.
WHAT TYPE OF PROPERTY IS NOW AVAILABLE FOR PURCHASE BY FOREIGNERS? DOES IT STILL HAVE TO BE AN IRS/RES/PDS OR SC?
WHAT OTHER TYPE OF INVESTMENTS ARE AVAILABLE APART FROM PROPERTY?
IRS/RES/PDS schemes are available to all foreign citizens wishing to reside in Mauritius, however, under the recent announcements, purchasing in Smart Cities will be available to Occupation Permit holders.
Other Mauritian companies and/or qualifying equipment.