RES (Real Estate Scheme)

The Real Estate Scheme is a regime under which foreign buyers (non-nationals) can own or invest profitably in real estate in Mauritius. It was introduced under the Investment Promotion Act and Investment Promotion (Real Estate Development Scheme) Regulations 2007.

  • A RES framework consists of property developments of smaller scale than IRS projects.
  • Non-residents of Mauritius can acquire a RES property.
  • A residential property may be acquired from a RES company by:
    • a citizen of Mauritius;
    • a non-citizen;
    • a local or foreign company incorporated under the Companies Act;
    • a société; or a trust.

Entities holding a Global Business Licence cannot acquire property under the RES.

  • The development has to be 1 acre at least and not exceeding 10 hectares.
  • Under the RES, villas and other residential properties can be sold freehold.
  • There is no restriction on the minimum amount of investment in the acquisition of a residential property under the RES (no minimum price)
  • The acquisition price of the RES has to be at least USD 500,000 to enable the owner and their dependants to get residency.
  • Development of residential units on freehold land of at least 1 arpent but not more than 10 hectares (23.69 arpents). The extent of land that may be used for the development of a single residential property, other than for an apartment or a penthouse, under the RES must not exceed 0.5276 hectare (1.25 arpents).
  • Land transfer tax of 5% is payable by the RES company on the value of the property sold.
  • A registration duty of USD 25,000 is payable by the purchaser
  • Board of Investment Application Fee, which is currently MUR 10,000.