Real Estate Development
Having successfully built for itself a reputation on the international scene as an upmarket tourist destination, Mauritius has now opened its doors to foreign nationals who wish to make Mauritius their home on a fulltime or temporary basis, offering high-return investment opportunities in the Property Development sector.
With a seasoned experience in real estate, we consider ourselves a one stop shop for non-residents who are looking to acquire a property in Mauritius or in need of a luxurious holiday accommodation. Our aim is to provide a personalized service to ensure our clients complete satisfaction.
AAMIL works in partnership with the major projects approved by the local authorities and that are accessible to non-residents.
The Property Development Scheme (PDS)
The PDS, which has replaced the IRS and RES, allows for the development of a mix of residences for sale to non-citizens, citizens and members of the Mauritian Diaspora. The PDS provides the following:
- The development of luxurious residential units on freehold land of an extent of at least 0.4220 hectare (1 arpent) but not exceeding 21.105 hectares (50 arpents).
- The development of at least six (6) residential properties of high standing.
- High quality public spaces that help promote social interaction and a sense of community.
- High-class leisure, commercial amenities and facilities intended to enhance the residential units.
- Day-to-day management services to residents including security, maintenance, gardening, solid waste disposal and household services.
- Social contribution in terms of social amenities, community development and other facilities for the benefit of the community.
A non-citizen is eligible for a residence permit upon the purchase of a villa under the PDS scheme when he has invested more than USD 500,000 or its equivalent in any freely convertible foreign currency.
The PDS is also a demarcation from the IRS and RES in as much as it does not differentiate between small and big landowners and harmonizes the registration duty to a single rate of 5% instead of USD 70,000 on registration of a deed under IRS and USD 25,000 under RES.