The terms and conditions of the Property Development Scheme (PDS) were reviewed as part of the 2020-2021 Budget. The Minister of Finance, Economic Planning and Development, Renganaden Padayachy announced different policies which aim to attract foreign investors and give a boost to the Mauritian real estate market. The limit for obtaining a permanent residence permit through the PDS has been reduced to an investment of USD 375,000 instead of USD 500,000. This will allow foreigners to have access to several types of properties within a residential complex.
Simplified real estate transactions
The Property Development Scheme (PDS) came into force in 2015, it replaced the Real Estate Scheme (RES) and the Integrated Resort Scheme (IRS). Under this scheme, there are no restrictions on the maximum land area that can be developed. From now on, the buyer can obtain a permanent residence permit with an investment of USD 375,000. The holder will be able to reside fiscally on the Mauritian territory with a minimum of 183 days per year with his spouse and children under 24 years of age if he is the owner of the property.
If you would like to learn more about the PDS scheme and its benefits, contact us.