Investing in Mauritius post Covid-19

The Mauritian economy can breathe again after the wave of Covid-19 who has put the country to a halt, the government unveiled a solid stimulus plan to solve solutions. The tourism sector is the main one concerned as it is indeed among one of the best economic assets of the country, but also the real estate sector.

Mauritius is a dream destination for holidays in the sun along with its tropical climate. So it remains and remains a perfect destination for investing in real estate after the coronavirus. The island also has many investment opportunities with its idyllic landscapes. You will be able to realize his dream of owning a property abroad with all the assets to fully enjoy a life by the sea.

The real estate market is regaining its dynamism thanks to the support of local authorities and the digitization of procedures. Mauritius is thus gradually launching its rental and purchasing activities.

To limit the risks of contamination new investors are encouraged to use dematerialized services. The digitization of the real estate market also makes it possible to facilitate the administrative procedures related to a real estate purchase. Many developers offer online tours of their properties, allowing buyers to make an initial selection for a future purchase.

Tourists as Mauritians and expatriates, we are indeed all sensitive to the direction that Mauritius has taken for some time with the systematic concreting, the multiplication of real estate programs of all kinds, but also the pollution of our environment.

Many projects are currently being undergone, among others:

  • 74 major development projects started before Covid 10 and are progressing.
  • 81 projects are in progress
  • Various real estate development projects were implemented in 2020 in various segments 
  • 11 Smart City Certificates were issued by the EDB, representing a total investment of 225.9 billion Rupees which will be implemented over a period of 20 years..

A recovery plan to save the Mauritian economy

Tourism stakeholders, holders of licenses from the Tourism Authority and the Beach Authority are also exempt from paying the license fee for the next two years. The Mauritian government is setting up a new system allowing hotels to offer for sale some of their accommodation infrastructure in the form of furnished apartments.

The Mauritian government is proposing to simplify access to existing permits as well as the related procedures for future investors who plan to develop their business on the island,. The state is also considering extending the validity of these permits and improving the supervision of investments made on Mauritian soil.

In the real estate sector, spouses of Occupation Permit holders and non-nationals who have invested in real estate programs now have the possibility of working and investing in Mauritius.

There have been changes in the rules of real estate investment in Mauritius. Investing in Mauritius in 2020-2021 can offer you a lot of opportunities thanks to the recent update of the regulations in force. To make a real estate investment in Mauritius after the coronavirus:

– Non-citizens holding a residence permit, a permanent residence permit or a work permit may purchase, under certain conditions, serviced building land with a maximum area of ​​2,100 m², for the construction of an individual residence within the framework of the Smart City program.

– Any purchase of real estate by foreign investors in Mauritius can be made via a digital power of attorney.

– Obtaining a permanent residence permit is possible from a minimum amount of real estate investment in Mauritius of $ 375,000 instead of $ 500,000. investors and owners of real estate registered in an existing real estate program can benefit from this ceiling.

– For all these reasons and also for its many assets – tourist, geographic, natural and cultural, Mauritius remains a favorable destination for investing in real estate after the coronavirus.

Work permit and residence permit

– The work permit and the residence permit will be combined into one permit.

– The validity of a work permit and residence permit for retirees is 10 years with the possibility of renewal.

– The minimum investment amount for obtaining a work permit will be reduced from 100,000 USD to 50,000 USD.

The turnover and minimum investment required to obtain an Innovator Occupation Permit are waived.

– The spouse of a work permit holder will not need a permit to invest or work in Mauritius.

– Holders of a work permit will also be allowed to bring their parents to Mauritius and live there.

– The EDB will be the only agency authorized to determine and recommend work permit applications.

– Professionals holding a work permit and foreign retirees holding a residence permit will be able to invest in other companies without any shareholding restriction.

– Non-citizens holding a residence permit under the various real estate regimes will no longer need a work permit to invest and work in Mauritius.

– The duration of the permanent residence permit goes from 10 years to 20 years.

Holders of a work permit and a residence permit for three consecutive years will be able to apply for a permanent residence permit.