Mauritius witnesses increase in FDI for Q1 2023
According to the Preliminary Gross Direct Investment flows published by the Bank of Mauritius (BoM) on 4 August 2023 for Q1 2023, there has been a marked increase in Gross Direct Investment flows of around 38% compared to Q1 2022 (Q1 2023: MUR 7,236 million, Q1 2022: MUR 5,246 million).
Figures for Q1 2023 exceeded pre-pandemic levels as shown below:
(Figures in MUR million - Source: Economic Development Board / Bank of Mauritius)
The real estate sector, through the specified schemes such as Integrated Resort Scheme, Real Estate Scheme, Invest Hotel Scheme, Property Development Scheme, Smart City Scheme (collectively referred to as the “Schemes”), was the main recipient of Gross Direct Investment Flows, cumulating an amount of MUR 4,074 million i.e. 56% of the total flows.
Over the years, the Government has introduced schemes to enable non-citizens to acquire properties in Mauritius and under which, the applicants and their eligible dependents are able to apply for residency permits. In addition, more incentives have been introduced in the Finance Act 2023 as summarized below:
- A newly introduced “Sustainable City Scheme” which entitles non-citizens investing a minimum of USD 375,000 in same to apply for a residence permit – more details are awaited on the Sustainable City Scheme.
- Senior non-citizens (i.e. those aged above 50 years) will now be eligible for a residence permit if they acquire a residential property under the Property Development Scheme related to senior living for a minimum of USD 200,000. The spouse, dependent children and parent of the applicant will also be eligible to apply for a residence permit as dependent.
- non-citizens who are not yet resident in Mauritius, can now acquire one property of not less than USD 500,000 (outside of the above-mentioned Schemes) subject to the payment of additional duty leviable.
If you would like to get more information about the Schemes, please write to us on email@example.com
To access the Preliminary Gross Direct Investment flows report published by the BoM, please click Here