Investment | PDS, RES, IRS, What Are They?

The first to be introduced was the Integrated Resort Scheme (IRS). This scheme was launched in 2001 to allow the acquisition of real estate by foreign nationals within specific projects.

IRS properties are mainly located in large complexes in coastal areas and offer a variety of luxury and high-end freehold properties.

The criteria for the Integrated Resort Scheme are as follow:

• Development on sites larger than 10 hectares.
• Apartments, duplexes or detached houses sold for more than 375,000 USD.
• A registration fee of the purchase certificate of 5% of the price of the property capped at 70,000 USD.
• All projects must offer luxury facilities to their residents.
• These may include golf courses, a marina, nautical and water sporting facilities, stores, restaurants, sports clubs and other à la carte services.
• The buyer of an IRS property is entitled to a residence permit as long as he/she owns the property. His dependents may also benefit from it.
• The residence permit does not allow the purchase of other properties outside the various programs available to foreign nationals.
• The application fee of Rs 10,000

The Real Estate Scheme (RES) was launched in 2007. It was designed to provide foreigners with more affordable properties, and for developers to develop more reasonable projects.

The criteria of the Real Estate Scheme are as follow:

• RES projects must be built on plots of land between 4000 m2 and 10 hectares.
• No minimum price is set for the sale of the property.
• A registration fee of the purchase certificate of 5% of the property price up to 25,000 USD.
• The acquisition of a RES property only entitles the purchaser to a residence permit if the property purchased is worth more than 375,000 USD.
• RES projects are more numerous and more diverse.
• The application fee of Rs 10,000

The Property Development Scheme (PDS) was launched in 2015 and is still in effect today.
The PDS replaces the IRS and the RES, to allow investors to execute their project, without any restriction of development area. The law also stipulates that 25% of the real estate programs carried out under the PDS scheme, rightfully go to Mauritian investors.

Since 2017, a PDS program must include a social aspect for the benefit of the surrounding community. It must also be carried out in full respect of the environment and ecology.

The Property Development Scheme criteria are as follow:

• Development of a minimum of 6 freehold luxury residential units on a plot of land of at least 4220 m2 but not exceeding 210,000 m2.
• The villas cannot be built on land larger than 5276 m2.
• No minimum price is set for the sale of the property.
• Registration fee of the purchase certificate of 5% of the price of the property.
• High-quality public spaces that help promote social interaction and a spirit of community.
• Recreation, amenities and commercial facilities to benefit the residential units.
• Resident services including security, maintenance, security services, solid waste disposal and housekeeping services.
• Establishment of a social fund (PDS Social Fund) with a contribution of Rs 200,000 per unit sold to support the neighboring community or a social project in the region.
• The acquisition of a PDS property entitles you to a residence permit only if the property purchased is worth more than 375,000 USD.
• Application fee of Rs 20,000

All new developments are now under the Property Development Scheme, however, the purchase of properties marketed under the other two schemes is still possible. The Economic Development Board is the body to contact if you are interested in investing in property in Mauritius.