WHY MAURITIUS ?
• Impressive track record, political stability and sustained economic growth
• Secure investment location with established rule of law
• Freest and most business-friendly country in Africa
• Peaceful, multiethnic with a unique lifestyle in a blend of cultures
• Flexible, bilingual (English/French) and skilled workforce
• Investment-friendly regulatory regime
• Open to foreign investors and talents
• Ocean State with one of the largest Exclusive Economic Zones in the world
• Preferential market access to Africa, Europe and the USA
• State-of-the-art infrastructure
• Convenient time zone (GMT +4)
The Fiscal regime includes:
• Corporate tax:15%
• Income tax (personal tax): 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 on property
• No withholding tax on interest and dividends
• Exemption from customs duty on equipment
• Free repatriation of profits, dividends and capital
Foreigners are allowed to buy property in Mauritius within very specific schemes or after fulfilling specific requirements. Please below for more details :
PDS Property (2015)
PDS (Property Development Scheme) real estate projects in Mauritius
The Property Development Scheme (PDS) has replaced since August 2015 the IRS and RES schemes.
The programme is designed to facilitate the acquisition of residential property by non-citizens in Mauritius. The PDS is basically an integrated project with social dimensions for the benefit of the neighbouring community and allows for the development and sale of high standing residential units mainly to foreigners.
At least 25% of the residential properties developed under PDS must be sold to Mauritians and member of the Mauritian Diaspora (Mauritian living abroad).
The Property Development Scheme provides for the following:
1. development of a minimum of 6 luxurious residential units on freehold land of an extent of at least 0.4220 hectare (1 arpent) but not exceeding 21.105 hectares (50 arpents).
2. high quality public spaces that helps promote social interaction and a
sense of community
3. high-class leisure, commercial amenities and facilities intended to
enhance the residential units.
4. day-to-day management services to residents including security,
maintenance, gardening, solid waste disposal and household services.
5. social contribution in terms of social amenities, community
development and other facilities for the benefit of the community.
￼￼Eligibility for acquisition of residential property :￼￼￼
The following persons may acquire a residential property from a PDS Company:
(a) a natural person, whether a citizen of Mauritius, a non-citizen or
a member of the Mauritian Diaspora;
(b) a company incorporated or registered under the Companies Act;
(c) a société, where its deed of formation is deposited with the
Registrar of Companies;
(d) a limited partnership under the Limited Partnerships Act;
(e) a trust, where the trusteeship services are provided by a qualified
(f) Foundation under the Foundations Act.
Note: A qualified global business as defined under the Financial Services Act 2007 holding a Global Business Licence may acquire property under the PDS scheme.
The residential properties may be a mix of:
• Luxury villa with attending services and amenities
• Luxury apartment with attending services and amenities
• Penthouse with attending services and amenities
• Other similar properties used, or available for use, as residence with
attending services or amenities
￼Extent of residential property
￼The extent of land in respect of each residential property, other than for an apartment or a penthouse, is developed on land not exceeding 2,100 square metres excluding common areas.
Smart City Scheme
The concept of Smart City Scheme in Mauritius
The Smart City Scheme is an ambitious economic development programme aimed at consolidating the Mauritian international business and financial hub by creating ideal conditions for working, living and spurring investment through the development of smart cities across the island.
The development of smart cities in Mauritius is opening up a plethora of investment opportunities.
The smart city project is an initiative to stimulate innovative scientific and technological activities, provide technology-driven facilities to the business community and create a vibrant city lifestyle.
The Government of Mauritius has set up the Smart City Scheme to provide an enabling framework and a package of attractive fiscal and non-fiscal incentives to investors for the development of smart cities across the island.
The smart-city concept is about providing investors, nationals and foreigners, with options for living in sustainable, convenient and enjoyable urban surroundings.
These new cities will be built around the work-live-play lifestyle in a vibrant environment with technology and innovation at their core.
The concept paves the way for investors to develop and invest in:
> a mix of commercial, leisure and residential uses that, as a whole, achieves physical and functional integration and creates a pedestrian-oriented urban environment
> a combination of office, light industrial, education, medical and tourism clusters
> high technology and innovation cluster
> infrastructure to service green-field sites with roads and inspiring landscaping
> clean technology aimed at carbon and waste reduction, efficient transport
> digital solutions, urban sensing technologies and big data analytics
energy production and water management and utilities
> high-end residential estate
> real estate investment management
The Smart City Scheme provides an enabling framework and a package of attractive fiscal and non-fiscal incentives to investors for the development of smart cities across the island.
Incentives for developers and investors
Incentives for developing and investing in a project under the Smart City Scheme.
A company investing in the development of a smart city and/or its components is exempted from payment of:
> Income Tax for a period of 8 years from the issue of the SCS Certificate provided that the income is derived from an activity pertaining to the development and sale, rental or management of immovable property other than an activity in respect of the supply of goods and services.
> Value Added Tax paid on capital goods (building, structure, plant, machinery or equipment).
> Customs duty on import or purchase of any dutiable goods, other than furniture, to be used in infrastructure works and construction of building within the Scheme
> Land Transfer Tax and Registration Duty on transfer of land to a SPV provided that the transferor holds shares in the SPV equivalent to at least the value of the land transferred
> Land Conversion Tax in respect of the land area earmarked for the development of non-residential components (office and business parks, ICT and innovation clusters, touristic, leisure and entertainment facilities including hotels and golf courses, renewable energy and green initiatives)
> Morcellement Tax for the subdivision of land.
Other tax incentives for the buyers
> First-time Mauritian buyers and buyers under the Mauritian Diaspora Scheme acquiring a residential unit will be exempted from registration duty
> Full recovery of VAT in terms of input tax allowable in terms of capital goods (building structure), plant, machinery and equipment
> Accelerated annual allowance granted at a rate of 50% of the costs in respect of capital expenditure incurred by any company operating within the Smart City Scheme on energy-efficient equipment and green technology.
A smart city will be developed over an area exceeding 21.105 hectares (50 arpents). Foreign companies can acquire land under the Smart City Scheme to develop projects and their key components
> Any person any entity including foreign companies and trusts can acquire residential units in a smart city
> Any non-citizen acquiring a residential unit above USD 500,000 under the scheme is eligible to a residence permit for himself and his family
> No restriction on rental or resale of residential units
> Possibility for a retired person to acquire life rights under the Smart City Scheme.
A non-citizen having held a residence permit for a minimum period of 2 years and having made an investment over USD 5 million in Mauritius may apply for Mauritian citizenship.
Sale of serviced land to third-party developers
The master developer may sell serviced land to another company to develop a component of a smart city project.
(Source : Board of Investment)
buy an IRS property
Integrated Resort Scheme (IRS) properties can be found within large resorts (golf estate, marina,…) mostly on coastal regions (North, West , South and East coasts) and offer a variety of luxury and high-end freehold property types : apartments, duplexes or individual villas, sold at not less than US$ 500,000 by law. They offer luxury facilities to the residents. These may include a golf course, a marina, nautical and other sport facilities, shops, restaurants, wellness centers and other “à la carte” services. As the owner of an IRS, you will receive residence permit for as long as you remain owner of the property, as well as your spouse and your dependants (up to the age of 24 years old). The residence permit once obtained does not give the right to then buy a property in Mauritius, but you have the right to buy other IRS or RES properties.
You may rent out your property once acquired.
Visit : Please visit our projects open to foreign acquisition to discover the IRS projects and other projects open to foreign acquisition and which might match your criteria : http://www.parklane.mu/en/projects/foreigners.html
Buy a RES property
Real Estate Scheme (RES) properties are usually smaller residential developments (they can only be built on land areas ranging between 4,220 and 100,000 m2), which can be sold at no minimum price. The acquisition of a RES property will not entitle you to a residence permit, unless you purchase a RES property worth at least US$ 500,000. You will find a variety of property types within this scheme (individual villas, duplexes, apartments…) in various regions (coastal regions and also inland).
RES properties are mainly targeted at investors, professionals or retirees who have chosen Mauritius to live, work, invest or enjoy as a holiday retreat.
Please visit our projects open to foreign acquisition to discover the RES projects available and which might match your criteria : http://www.parklane.mu/en/projects/foreigners.html
Apartments in Ground + 2 buildings
Buy an apartment in a Ground + 2 complex
UPDATE 20 DECEMBER 2016
The Non-Citizens (Property Restriction) Act has been amended on 20 December 2016 to allow foreigners to purchase apartments in condominium developments of at least two levels above ground (G+2) with the prior approval of the Board of Investment. The amount payable for the acquisition of an apartment must not be less than Rs 6 million or its equivalent in any other freely convertible foreign currency.
Any non-citizen, with or without an occupation permit, residence permit, permanent residence permit, may acquire apartments.
The previous legislation for the acquisition of apartments outside of the IRS, RES and PDS schemes only allowed non-citizens holders of an occupational permit to buy ONE apartment, in a Ground + 2 building, and for his own use, not for rental.
The new amendment allows non citizens with or without Occupational Permit in hand to acquire more than one unit and allows for the renting out of the apartments for rental return.
Thus, non-citizens can now acquire residential properties as follows ::
a residential unit developed under the IRS, RES and PDS (granting a Permanent Residence Permit if the property bought is over US$ 500,000)
a residential unit developed in a smart city (also granting a Permanent Residence for any purchase above US$ 500,000)
an apartment located in a building of at least two floors above ground floor, above Rs 6,000,000 (does however NOT grant the buyer with a Permanent Residence even if he buys a unit above USD 500,000, but buyer gets a multi entry visa for 6 months per year).
Contrary to what many people think, a non-citizen can purchase one or more apartments ANYWHERE IN THE BUILDING provided the building is a Ground + 2 building (2 floors above the Ground Floor).
- PDS Property (2015)
Buy a IHS property
The Invest-Hotel Scheme (IHS) allows hotel developers to finance the development of a hotel project by allowing them to sell villas, suites, rooms or other components that form part of the hotel to individual buyers including non-citizens. The unit is to be leased back to the seller and may be used and occupied by the unit owner or any person on his behalf for a total of not more than 45 days in any period of 12 months. The amount of investment in the acquisition of a stand alone villa should not to be less than US$500,000 (excluding taxes) or its equivalent in any freely convertible currency. For units other than stand alone villa, no minimum investment is required to acquire such units.
Please visit our page IHS to discover the IHS projects available
- Hotel room
PURCHASE OF A GUESTHOUSE
Investment in an existing guesthouse/tourist residence by a non‐citizen may be authorized on a case‐to‐case basis only if the existing establishment is upgraded and the new project proposal meets the policy objectives of the Ministry of Tourism & Leisure and complies with very specific requisites:
- the existing guesthouse/tourist residence must consist of at least 12 rooms ;
- the new project proposal must be of a high architectural design depicting the local and tropical cachet ;
- the minimum level of investment must be Rs 500,000 per room ;
- the potential investor must have the required expertise and experience in the management and marketing of a tourist residence/guest house or appoint a management company that has the required experience and expertise in the tourism and hospitality industry ;
- the project proposal must upgrade the existing tourist residence/guest‐house by major refurbishment/renovation with special emphasis laid on quality ;
- Provision must also be made for the adoption of energy‐saving devices and eco‐ friendly practices such as recycling plants, rain water harvesting, renewable energy supply (solar energy and photovoltaic cells) and other similar facilities.
Commercial or Business Developments
Information about investment in business or business development in Mauritius for foreigners
A non-citizen investor must submit an application for the acquisition of immovable property or part of a building for business purposes, or for the lease of immovable property or part of a building for a period exceeding 20 years for business purposes.
Business purpose means the acquisition or holding of property by non-citizens for:-
- the development of high activity commercial use building including, but not limited to, shopping mall, office building or warehouse, for own use, sale, rental or lease;
- the development of residential properties developed under the Property Development Scheme (PDS); and
- any other activity carried out for reward, gain or profit but excluding the acquisition for resale or lease or rental of any bare land or serviced land.
Please use our quick property search to choose a suitable commercial property for your needs or to invest in.
- A Guesthouse