Mauritius: the right choice to invest in real estate
Mauritius represents an interesting destination for expatriates for many reasons. Whether they are looking for a new life or just motivated by an investment in real estate, foreigners have found in Mauritius the ideal place to settle. A wonderful quality of life, a good geographical location between Africa and Asia, tax benefits ... this island has it all. If you are looking for an interesting opportunity, here is one that you should grab as quickly as possible.
A very solicited investment
Mauritius allows a foreigner to acquire real estate. The government has put in place various schemes to regulate foreigners’ access to freehold real estate. Foreigners can thus benefit from the Mauritian tax advantages regardless of the value of their purchase. This measure was enshrined in a single legal framework called the Property Development Scheme (PDS). This regulation, however, requires some conditions, namely, the intervention of a recognized and experienced real estate developer whose project must have been accredited by the authorities and be respectful of the environment while integrating perfectly with the environment.
An easy residence permit
Although it is not necessary to obtain a residence permit to buy real estate in Mauritius, it is still possible to obtain one. Indeed, in Mauritius, a foreigner has the right to stay up to 6 months as a tourist. Purchasing a property worth more than $ 500,000 in one of the authorized programs (IRS, RES or PDS) allows you to have a permanent residence permit and if you decide to spend at least 183 days a year, you can also become a tax resident. The residence permit is valid for the person concerned, his spouse, as well as his dependent children under 24 years of age.
An advantageous tax system: a measure that encourages investment
One of the criteria that make investors look towards Mauritius is its taxation. The island enjoys a very attractive taxation with only 15% tax on personal income and profits. There is no taxation at all on dividends and capital gains nor are there social charges and property taxes either. In addition, when you make a real estate acquisition in Mauritius, the property is not subject to wealth tax in France. So many advantages that attract investors, especially the French. To benefit from these privileges, you do not even need to be a permanent resident.
A guarantee offered to the investor
When planning a property purchase in Mauritius, regardless of its value, you need to be assured of the safety of your investment. It is essential to remember that even if we call on a recognized and experienced promoter, we are never safe from a hazard that could put everything in question. The risk is less when it is a property already built. Only when you buy on a plan or in a program under construction, you must take all possible precautions. In Mauritius, the off-plan sale is well framed by the regime of Sale of Property Before Completion (VEFA), also known as Purchase off Plan. It must be accompanied by a financial guarantee of completion. The developer undertakes to mobilize all necessary means to complete the real estate project by involving a financial institution or insurance company to ensure the completion and delivery of the real estate program in which you have invested.