Not a Mauritian, but dreaming of retirement under the sun? The National Budget 2023-2024 has some great news for you!
Non-citizen retirees will soon be eligible for a residence permit after purchasing a residential unit under the Property Development Scheme (PDS) with retroactive effect.
Under the Budget 2023-24 introduced by the Minister of Finance on 2 June, the Immigration Act will be amended to grant a residence permit to a retired non-citizen and his or her family upon the purchase of a property in a PDS project for housing for the elderly, provided that the purchase price exceeds USD 200,000 and the non-citizen is over 50 years of age.
This status of residence will be valid for as long as the buyer owns the property. This amendment will be backdated to 27 April 2019, the date on which the property development plan was amended to include the construction of a purpose-built building or the incorporation of an existing building under the plan, targeted at the elderly.
Subject to the same register, a resident non-citizen is permitted, on application, to acquire a residential property of a minimum of US$350,000 outside the existing schemes, subject to payment of an additional 10% registration fee.
