Newly introduced advantages when buying in Ground + 2 schemes
This October 2019, the Economic Development Board of Mauritius has published a communique concerning newly introduced advantages and conditions when non-citizens buy an apartment or penthouse in a Ground + 2 residential complex. That is, an apartment or penthouse which is in a building of at least two floors above ground floor.
This new exciting opportunity proposes a specific type of visa under specific conditions. This concerns any non-citizen who acquires an apartment for a price exceeding USD 500,000 (or its equivalent in any convertible currencies) may apply for a long stay visa.
A long stay visa allows a non-citizen and his dependents to stay for a consecutive period of 10 years, which is then renewable depending on the status of ownership.
This visa remains valid so long as the non-citizen holds the apartment or penthouse in the Ground + 2.
A further expanded version of guidelines for the above, and new application form, will be available on The Economic Development Board website shortly.
More about the Ground + 2 Scheme
Since December 2016, non-citizens can also buy apartments, provided the apartment / penthouse is situated in a Ground + 2 building situated on FREEHOLD land.
The property must be sold at a minimum selling price of MUR 6 m which therefore permits the buyer to obtain a multi entry visa of 6 months per year, attached to the property.
If the apartment is above USD 500,000, the buyer will not receive a Permanent Residence, but a LONG STAY VISA as outlined above.
It is good to know that a non-citizen can purchase one or more apartments ANYWHERE IN THE BUILDING provided the building is a Ground + 2 building (2 floors above the Ground Floor).
Ground + 2 residences can be found in the much sought-after villages of Tamarin, in the west coast of Mauritius, as well as in Grand Bay which foreigners usually choose to invest in or move to. However, these properties also exist in other parts of the island. Sold off-plan (VEFA) or at completion, we recommend going through a reputable real estate agency for an informed, and well advised selection of these residences.
Read the EDP Press Release here