Update On Property Development In Mauritius

Introduction

Property development has reached a tipping point in Mauritius. Since December 2014, we have seen the Government's introduction of the Property Development Scheme (PDS), as the successor to the previous schemes, namely, the Integrated Resort Scheme (IRS) and Residential Estate Scheme (RES).

This has led to a situation where the previous IRS and RES continue to benefit from the advantages granted to them under the old schemes. The Investment Promotion Act 2000 (IPA 2000) was amended to cater for the new PDS which was set up after consultation between the Government and various stakeholders at the beginning of 2015. Under the powers conferred by the IPA 2000 to the Minister of Finance and Economic Development, the latter enacted the Investment Promotion (Property Development) Scheme Regulations 2015 which provide the framework for the development of the new PDS.