Property Development Scheme (PDS)
A foreign investor is fully able to invest in a villa or an apartment in Mauritius and be the sole owner of his property. In fact, in order to make this possible, the Mauritian government implemented an investment scheme, named PDS (Property Development Scheme).
The PDS’ principle is to enable foreigners to buy real estate in the country in full ownership, with a minimum investment of 500 000 USD allows the buyer to apply for permanent residency.
Real estate projects developed under the PDS scheme are subject to strict monitoring in order to ensure the security of the investor. These projects must also be developed by recognised promoters with a good track record and experience in the field. Large financial guarantees and decennial guarantees are mandatory.
The environment and surrounding ecosystems are important concerns that are taken in consideration during the development of these residential schemes. Solar panels, green spaces, optimum ventilation and light structures, water collection…these elements are all necessary for the promoter to obtain the required permits and authorisations before building starts.
Smart City Scheme (SCS)
In order to create better working and living conditions, via foreign investment and the economic development of the country, the Mauritian government has specially created the Smart City Scheme (SCS). This programme aims to provide an enabling environment with many tax and non-tax incentives for investors and residents.
The development of smart cities across the island is the new real estate scheme that emerged at the same time as the PDS (Property Development Scheme).
The smart cities will be both commercial (offices, industrial parks, work centre etc.) and residential (villas, apartments, duplexes, townhouses, shopping malls, numerous educational and health facilities), and will offer a whole range of leisure activities for visitors and residents (leisure centres, hotels and restaurants, tourist attractions, cultural hub).
High-tech materials and the environment are priorities for the SCS. Controlling energy consumption, therefore, is a primary concern. Recycling will also be an important component of these new cities.
Local and foreign investors who wish to invest in the development of a smart city will be exempted from paying income tax and value added tax on buildings. More information can be found on the BOI Website.