FR
01 Jul 2024
"Mauritius, renowned for its white-sand beaches and blue lagoon, offers investment opportunities for both residents and investors. In this article, we will explore the advantages and requirements for purchasing exclusive luxury properties through a special scheme called the Property Development Scheme (PDS). The PDS allows for the development of luxury real estate projects, providing investors with the opportunity to obtain a residency permit in Mauritius."

Understanding the PDS Program of Mauritius

 

The Property Development Scheme is an integrated project that replaces the IRS and RES schemes. It is open to non-citizens, citizens, foundations, trusts, Mauritius-incorporated organisations, and the Mauritian Diaspora. This program allows people to invest in properties worth more than $500,000 on the island, which contributes to sustainable real estate development. The program emphasises the importance of environmental stewardship and is therefore subject to severe controls to ensure compliance with ecological standards. PDS also includes a social dimension, which consists of supporting communities through social contributions.

 

The Residency Permit with the PDS Program in Mauritius

 

By participating in the PDS, investors can benefit from a stable political environment, attractive tax incentives, and a high quality of life on the island. A non-citizen who purchases a residential property for more than USD 375,000 is also granted a residence permit for the duration of his or her ownership. The spouse and children under the age of 24 are also issued residency permits. This not only promotes economic growth but also fosters cultural exchange and diversity within the country.

 

Furthermore, PDS-approved apartments, penthouses, and villas provide integrated services and amenities. From security and domestic services to waste disposal, gardening, and maintenance services, everything is in place to secure and care for these beautiful properties. As a resident, you have access to high-end recreation and facilities, which enhance the resident apartments. The proposal includes at least 6 high-end residential units on 0.4220 hectares. Buyers and promoters benefit from the exemption of several local taxes. The Property Development Scheme is overseen by the Economic Development Boards, which guides investors through the property purchasing process.

 

What are the conditions involved in the PDS program?

 

The Property Development Scheme (PDS) caters to the development of upscale residential properties on freehold land ranging from a minimum of around 1 acre up to a maximum of 50 acres. It mandates the construction of at least 6 high-end residential units within the development. The scheme requires incorporating public spaces that foster a sense of community and social interaction. It also necessitates the inclusion of top-notch leisure amenities and facilities that complement the luxurious nature of the residences. Continuous maintenance, security services like gardening, waste management, and housekeeping must be provided. Additionally, the PDS stipulates that the development should contribute towards benefiting the local community through social initiatives.

 

What type of properties are available under the PDS in Mauritius?

 

The PDS scheme allows for the development of various types of high-end residential properties, including luxurious villas, upscale apartments, premium penthouses, or comparable dwelling units, which may or may not come accompanied by additional services and amenities.

 

The Harmonie Golf & Beach Estate development employs bioclimatic architecture principles to seamlessly blend with the natural environment. The villas take inspiration from nature itself, featuring tropical-style outdoor patios, designed for natural cross-ventilation, with large open spaces, ample natural lighting, and lush vegetation throughout the landscape. The overall concept aims to create a harmonious integration between the man-made structures and the natural surroundings.

 

Harmonie Villas in Mauritius

 

Harmonie offers three distinct villa concepts tailored to different orientations and preferences. The Villa N, designed for north-facing plots, has a treated floor area of 169 sq.m. and a built-up area of 401 sq.m. These villas provide elegance, space, privacy, and superb views of the golf course and nearby mountain. They feature tropical landscaped patios, three or four en-suite bedrooms, and open-plan living/dining areas flowing onto outdoor spaces like gazebos and pools.

 

The Villa S caters to those seeking unobstructed sea views with a treated floor area of 204 sq.m. and built-up area of 507 sq.m. These south-facing villas have movable screens to manage prevailing winds, an open courtyard design with an optional pool, and integrated living, dining, and kitchen areas with three or four bedrooms.

 

The Villa W concept maximises west-facing plots with a 177 sq.m. treated floor area and 430 sq.m. built-up area. Designed for beautiful sunsets, these villas offer generously sized pergolas, mobile screens, three or four bedrooms, and views of the sea and golf course for a tropical summer living experience.

 

All villa types prioritise natural light, cross-ventilation, indoor-outdoor flow, and harmonious integration with the lush landscapes through bioclimatic architecture principles.

 

View Harmonie Golf and Beach Estate Villas

 

Who is eligible for the purchase of properties under PDS?

 

The Property Development Scheme (PDS) is accessible to a wide range of entities, including individuals, companies, trusts, and foundations. Eligibility extends to Mauritian citizens, foreign residents and non-residents, as well as members of the Mauritian diaspora. For individuals employed in Mauritius, holding residence or permanent residency permits, various options are available under the PDS program. These include purchasing real estate units within PDS-approved development projects, as well as apartments situated in multi-story buildings comprising at least three levels above the ground floor.

 

What are the documents required for the Property Development Scheme?

 

A non-citizen, citizen, company, société or trust wishing to acquire property under the IRS, RES or PDS scheme shall make an application to the Economic Development Board using the property acquisition and Management System. The application should then be submitted by the IRS/ RES/ PDS Company or a representative of the buyer. The following documents should be uploaded:

 

Purchaser Category

Certified True Copies

KYC From

Presale contract

Other documents (Certified true copies)

Passport

Birth Certificate

Individual

Purchaser(s)

Bank or Notary

CRP

If property being purchased by a couple - certified copy of marriage certificate is required and passport copy of spouse

Company*

Shareholder(s)

n/a

Certificate of Incorporation (COI), Register of shareholders (ultimate beneficiaries) & Business

Trust

Beneficiaries

n/a

Trust deed, evidence from FSC that trustee is a qualified trustee and ultimate beneficiaries of the trust. Details on trustee including COI and ultimate beneficiaries.

Société

Member(s)/Gerant(s)

n/a

Deed of formation of Société deposited at the Registrar of Companies including the file number and details of member(s)

*Also including holder of a Global Business Licence Who must submit a certified true copy of the Licence from Financial Services Commission.

 

Learn more about the application

 

Harmonie: A PDS Project

 

Harmonie Golf & Beach Estate is a Property Development Scheme (PDS) approved by the Economic Development Board. It consists of 220 luxury villas built on 150 hectares of land which includes an 18-hole international golf course. Presale was launched in early 2022 with the signing of presale agreements (Contrats de Réservation Préliminaire – CRP). The goal is to sign the minimum number of presale agreements required to start construction within one year. In this phase, construction is planned to start in 2024 with completion within three years.

 

There will be two types of offers at Harmonie Golf & Beach Estate: ready-built villas available off-plan to Mauritian and foreign buyers under a VEFA contract (in a future state of completion) as from €1,950,000 ; and serviced plots available with strict architectural guidelines for villa construction.

 

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