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REAL ESTATE SCHEME (R.E.S)

The Real Estate Scheme was founded with the objective to sustain development of the luxury real estate sector.  It mostly addresses the needs of foreigners willing to invest in Mauritius.  As opposed to IRS scheme, the RES does not maintain any minimum purchase price criteria.  However, the RES villas costing more than USD500,000 allows buyers to benefit from same Permanent Residency schemes as those in the IRS scheme.

 

Conditions

 

  • Development of high class residential project on land surface of not less than 1 arpent but not exceeding 23.69 arpents (10 hectares)

  • Project shall offer 

  • Développement des projets résdentiel de classe  international sur des terrains d’au moins 1 arpent mais ne dépassant pas les 10 hectares (23.69 arpents)

  • The project shall contain facilities & amenities attached to the residential part

  • The project shall also provide management services, such as:

    • Security 

    • Maintenance

    • Gardening

    • Solid waste management

    • Housekeeping

 

Who can buy?

 

  • Mauritians & foreigners

  • Any company incorporated in Mauritius (except offshore)

  • Trust (registered in Mauritius with the FSC) and managed by a Mauritian Trustee

 

Types of properties

 

  • Villas

  • Appartements

  • Penthouses

 

 

Maximum land surface area

 

  • land surface of not less than 1 arpent but not exceeding 23.69 arpents (10 hectares)

 

 

Eligibility Criteria

 

  • Small landowners, owning more than 1 arpent of land (but not exceeding 10 hectares) can be promoters

 

  • Several landowners can regroup their lands for a common project but such regrouping shall not exceed 10 hectares of land

 

  • The project will be initiated, managed and promoted through a local company incorporated and domiciled in Mauritius. The landowners shall hold shares in such company representing the value of the lands brough in the company for the project.

 

  • The landowners shall maintain their interest in the company through the shares they hold in the company. Such interest shall be maintained for at least 1 year after completion of the project. Completion is determined at the sale & delivery of the last residential unit.

 

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