Mauritius Property Investments

MAURITIUS
Why Mauritius

For many South Africans Mauritius is a destination of choice to invest in offshore property – Mainly for a Rand Hedge, good return on investment, excellent capital growth, strong global business environment,ease of accessibility and compelling investment, taxation and residency options.

10 Reasons to INVEST in
  • Secure offshore investment location.
  • Low tax rate – maximum 15%
  • No exchange controls.
  • No Capital Gains / Inheritance tax
  • Low mortgage rates of 3 – 4%.
  • International schools / universities.
  • Safe, secure and peaceful lifestyle.
  • Close to home
  • Political stability / sustained economic growth.
  • Rand Hedge to US Dollar / Euro
Retire in Mauritius

Beyond the undeniable natural, cultural and social assets that have made Mauritius a very popular tourist destination, the island offers great benefits for happy, healthy, safe and fulfilling retirement. With pleasant weather all year round, lush nature and enviable quality of life, warm and friendly people, excellent Health facilities with highly experienced medical staff, Mauritius is often listed among dream destinations for comfortable retirement and is a perfect example of harmonious cultural, religious and linguistic diversity.

There is more to Mauritius than its picturesque beaches and easy island living.

A stable government, safe living conditions, excellent medical and education facilities are but a few of the reasons the country is attracting a lot of interest from South African Investors and businesses.

The property market in Mauritius continues to thrive, several years after the government decided to open up the island to foreign buyers.

The stability and growth of the economy has encouraged many to invest in Mauritius and even make a life in the country.

Low taxation rates of only 15 percent, No Capital gains or Inheritance tax, a thriving financial services sector , ease of doing business and idyllic environment for permanent residence or leisure use , all contribute to an enabling environment for investment.

Holiday in Mauritius

Beautiful white beaches, friendly people, cultural diversity and perfect tropical weather are some of the reasons why a growing number of Tourists choose Mauritius, as their Holiday destination.

Acquisition process in

Your selling agent will guide you on the available properties and buying possibilities offered in the country. Whether you would like to buy as an individual, a company or through a trust, Mauritius has various funding options adapted to your preferences and situation.

Professional notaries on the island can assist with  the creation of legal entities (Company, Society…) or legal document (Power of attorney…) where applicable.

LOI signature: A letter of intent can be signed through the selling agent in order to put an option on a specific property.

CRP signature: In an off-plan buying, the preliminary contract of reservation will be delivered to you in order to confirm your project’s purchase and familiarise yourself with the mandatory information included. To close the pre reservation a deposit of 10% will be requested in the notary’s escrow account.

From Mauritian Authority

Whether you invested in a Project Development Scheme or as a foreigner, a Letter Of Approval request must be made to the Economic Development Board to get the approval from the Mauritian Prime Minister’s Office. This can be done by the selling agent or promoter and will require a list of personal documents.

 

The Deed of Sale is the final contract to sign with the promoter where all legal agreements are stipulated. Bind your project legally and obtain a financial guarantee from the bank by acknowledging and signing the document along with a final deposit of 20%.

Regular updates and an architect’s  certificate will be sent at each construction stage together with a step by step  call of funds.

On completion of your property a handover inspection shall be arranged and all associated booklets  guarantees and a file on the property will be handed to you

Business in Mauritius

Mauritius is fast becoming a destination of choice for both large and small businesses to operate in , mainly due to the growing economy and the Government’s pro-business environment and initiatives which offer fast and efficient support systems . This pro-business environment has resulted in Mauritius being ranked No 1 in Africa for the ease of doing business.

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Residency Permits in Mauritius

The Work Permit, Residence Permit have been combined into one single permit.

Validity of an Occupational Permit (OP) and a Residence Permit for retirees lengthened from 3 to 10 years renewable. The minimum investment amount for obtaining an OP reduced from USD 100,000 to USD 50,000.

The minimum turnover and investment requirement for Innovator Occupation Permit removed. The spouse of an OP holder will not need a permit to invest or work in Mauritius. OP holders will also be allowed to bring their parents to live in Mauritius, as their dependents. Professionals with an OP and foreign retirees with a Residence Permit will be able to invest in other ventures without any shareholding restrictions.

Buying a property in Mauritius

Non citizens can buy property in approved resorts:

Integrated Resort Scheme, (IRS), Real Estate Scheme (RES), Invest Hotel Scheme (IHS), Property Development Scheme (PDS), Smart City Scheme (SCS). Permanent Residence (PR) attached to the property is granted when buying property in these resorts at a price per property above USD 375,000.

Non-citizens can also buy apartments outside of the above resorts provided the apartment:

– is situated in a Ground + 2 building situated on FREEHOLD land

– is sold at a minimum selling price of MUR 6,000,000
Any non-citizen who has acquired an apartment in a Ground + 2 building for a price exceeding USD 375,000 (or its equivalent in any convertible currencies) may apply for a long stay visa.

A long stay visa allows a non-citizen and his dependents to stay for a consecutive period of 10 years, renewable. It remains valid so long as the non-citizen holds the apartment.

Education in Mauritius

As well as the government schools, Mauritius now has a large number of international private schools of a high standard.

Mauritian schools offer some of the top internationally recognised school programmes, both in English and French.

The country also has tertiary institutions which work in partnership with well-known universities such as the Université de Paris Dauphine or the IAE leading to BA and MBA qualifications.

Flourishing economy and a stable political system

Mauritius has become a firm favourite destination for foreign investors due to its stable political system and positive economic growth over many years.

FISCAL/TAX ADVANTAGES: • Corporate tax of Maximum 15% • Personal Income tax of Maximum 15% • Value-Added Tax (VAT): 15% • Corporate Social Responsibility (CSR tax): 2% on book profits • Land Transfer tax: 5% • No capital gains tax • No inheritance tax • Exemption from customs duty on equipment in specified industries • Repatriation of capital and profits . No exchange controls.

Weather in Mauritius

The climate in Mauritius is largely tropical, with warm to hot weather throughout the year, which is perfectly suited for Holiday makers and residents.

The trade winds from the east help moderate the temperature on Hot and Humid days.

The northern and western areas of the island tend to be warmer and drier than the eastern and southern regions of Mauritius.

Health in Mauritius

There is a wide choice of medical and emergency services across the island.

Both public and private Hospitals /clinics have modern equipment/ infrastructure, and highly trained, experienced doctors/ Medical staff.

The High Medical standards have enabled the country to position itself as a hub for medical tourism.