REAL ESTATE INVESTMENT 2021
SCS
Smart City Scheme
T he Smart City Scheme ( SCS ) is part of a wider economic development effort for the country . By placing technology and innovation as the key for the development of new smart cities across the island , the Mauritian government seeks to attract funds that will create new economic opportunities for all .
Among the range of investment opportunities that this programme offers to foreigners , the real estate scheme is very competitive . The government enables foreigners who already have a residence permit to acquire residential land – subject to conditions , such as compliance with strict specifications , construction of a property within 5 years from the date of purchase , and an indivisible and inextensible surface area of 2,100 m2 per plot of land .
For the acquisition of residential units , the criteria and benefits are similar to those for acquisition within a PDS project – including the application for a residence permit , which is valid for any investment above USD 375,000 .
25 %
The foreign demand for property over USD 1 million
G + 2
Ground + 2
S ince 2016 , this investment scheme allows the co-ownership of a residential unit in a building , at least two floors above the ground floor , and which has received a prior permit from the EDB confirming its status . The selling price of the unit must be set at a minimum of Rs 6 million , and the property is available to both Mauritian and foreign buyers .
Purchasers of a residential property under this scheme are now eligible for resident status , provided that the price of the property purchased is not less than the amount of USD 375,000 .*
36 * Finance Act 2021