INVESTING IN A PROPERTY DEVELOPMENT SCHEME
The Property Development Scheme has replaced the Integrated Resort Schemes (IRS) and Real Estate Schemes (RES) since 2014. This scheme allows for the development of a mix of residences for sale to citizens, non-citizens and members of the Mauritian diaspora.
The PDS provides the following:
- The development of luxurious residential units on freehold land of an extent of at least 0.4220 hectare (1 arpent) but not exceeding 21.105 hectares (50 arpents)
- The development ot at least 6 residential properties of high standing
- HIgh-quality public spaces that help promote social interaction and a sense of community
- High-class leisure, commercial amenities and facilities intended to enhance the residential units
- Day-to-day management services to residents including security, maintenance, gardening, solid waste disposal and household services
- Social contribution in terms of social amenities, community development and other facilities for the benefit of the community
The scheme provides a unique opportunity for non-residents in Mauritius to acquire freehold residential property at a minimum price of USD 500,000 and entitles the buyer to a residence permit.
The PDS is a demarcation from the IRS and RES as it does not differentiate between small and big landowners and harmonises the registration duty to a single rate of 5% instead of USD 70,000 on registration of a deed under IRS and USD 25,000 under RES.
Read more about the PDS scheme on the Board of Investment website: http://www.investmauritius.com/schemes/pds.aspx