The Real Estate Scheme (RES) for small landowners allows the development of any mix of residences to non-citizens in specific locations approved by the Board of Investment. These residences must include amenities and other facilities as well as day-to-day management services such as security, maintenance, gardening, solid waste disposal and household services. A project under the RES must be developed on freehold land of an extent of at least 1 arpent but not exceeding 10 hectares (23.69 arpents).

A project under RES can be developed by:

A small landowner who owns land of an extent of at least 1 arpent but not exceeding 10 hectares in aggregate for at least 5 consecutive years

Small landowners can group their land with other qualifying small landowners for a project provided that the lands are contiguous and the total real estate development area does not exceed 10 hectares

Only a company incorporated under the Companies Act where the owners of land retain shareholding in the company for at least 1 year after the completion of the project and issued with a RES certificate by the Board of Investment will be responsible for the execution, promotion, development and proper implementation of a project under the real estate scheme.

In addition to individuals (citizens and non-citizens) and companies (incorporated or registered), trusts and societe will be made eligible to acquire a residential property under IRS and RES under the new regulations.

The extent of land that may be used for the development of a residential property within the RES must not exceed 1.25 arpent. There is no restriction on the minimum of investment in the acquisition of a residential property under RES.

All persons intending to acquire a residential property under RES shall require an approval from BOI. A processing fee of MUR 10,000 per application is levied. No residency is provided to the buyer of a residential property under RES.

The regulations also provide for where a property is acquired by foreigners, the investment must be financed from funds outside Mauritius and where a loan is taken with a bank in Mauritius, the whole amount should be in USD, EURO or GBP.