Preliminary Gross Direct Investment flows: Increased flows for Semester 1 2023

According to the Preliminary Gross Direct Investment flows published by the Bank of Mauritius (BoM) on 19 October 2023 for semester 1 2023, Mauritius witnessed a remarkable increase of 34% in its gross direct investment flows for Semester 1 2023 compared to the same period in 2022 (H1 2023: MUR 13,513 million v/s H1 2022: MUR 10,086 million). 

 

Figures for H1 2023 exceeded pre-pandemic levels as shown below:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Figures in MUR million - Source: Economic Development Board / Bank of Mauritius)

 

Receipts generated from Real Estate activities especially 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”), comprised a major chunk of the gross direct investment inflows (MUR 8,663 million i.e. 64% of gross direct investment inflows).

 

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 bd@mitcoworld.com

 

To access the Preliminary Gross Direct Investment flows report published by the BoM for H1 2023, please click Here