As announced in Budget 2021/22 and pursuant to Section 5(1)(ga) of the Immigration Act, a residence permit is now granted to the non-citizen upon acquisition of a residential property in a building of at least 2 floors above ground floor for an amount not lesser than USD 375,000 or its equivalent in any other freely convertible foreign or Mauritian currencies. The residence permit is valid for as long as the non-citizen remains the owner of the residential property under the G+2 scheme.
Foreigners are allowed to purchase apartments in developments outside of the approved residential schemes.
The apartments should be located in condominium developments of at least two levels above ground (G+2) and the purchase price of an apartment should not be less than MUR 6 million or its equivalent in any other hard convertible foreign currency.
This legislation allows noncitizens with or without an occupational permit to invest in more than one luxury apartment. They are also able to rent it out.
