What is so attractive with Mauritius and how is the property market ?
What is so attractive with Mauritius and why would someone come and live there ?
Mauritius, a beautiful island in the middle of the Indian Ocean, situated in the ‘golden triangle’ connecting Asia, Africa and Australia, is undoubtedly one of the most attractive countries in the world to live in. An ideal combination of political and economic stability, a clean and safe environment, magnificient lagoons, great road infrastructures and relatively low tax rates make it the ultimate place of residence, easy air access, with a very convenient time zone with Europe (GMT+4). The possibility for foreigners to elect to be tax resident in Mauritius, no inheritance taxes as well as the high degree of privacy and security of tenure make Mauritius the residence of choice for many individuals.
Mauritius is a vivid example of socio-economic stability with strong democratic traditions. Since Independence in 1968, the country has developed from a low-income, agricultural-based economy to that of a middle-income diversified economy with growing industrial, touristic, ICT and financial sectors. The country holds regular free elections and has got a positive human rights record. The legal structure in Mauritius is one of the most transparent in the African region; the legislation is based on French civil law system combined with elements of English common law in certain areas.
Can foreigners buy property in Mauritius ?
The “Integrated Resort Scheme (IRS)" and the “Real Estate Scheme” (RES) enable foreigners to purchase luxury properties of international standards, with infrastructure and up-market facilities, which can include golf courses, marinas, individual swimming pools, restaurants, sports complexes and fitness centers, depending on the project. Buying property in an IRS development automatically entitles the buyer to residency in Mauritius, as well as to his spouse and dependants up to the age of 24. Residency is also granted to a buyer of a RES property above USD 500,000. Today, potential foreign investors have a large choice of luxury properties available to them, offering them not only permanent residence during the time of their ownership, but also a very attractive fiscal regime (15% income tax, no dividend tax, no inheritance tax, no withholding tax on interests and dividends, no capital gains tax, no property tax, free repatriation of profits, etc.).
Since opening the real estate market to foreigners with the IRS, what countries are most buyers coming from?
Buyers from France, South Africa, and the United Kingdom represent over 80% of the IRS and RES buyers, with a total of close to 1100 properties sold since 2005.
Are any Park Lane listings in designated IRS/RES locations? If so, which ones?
Park Lane Properties is one of the leading real estate agencies in Mauritius, international member of Luxury Portfolio and Real Estate Companies of the World, offering a very large choice of listings of RES and IRS properties. “Having developed along the years a privileged relationship with all the best property developers in Mauritius, we are able to offer to our foreign investors and buyers a very attentive and personalized service, picking them up from their hotels, accompanying them to visit all the various resorts and developments that would correspond to their criteria, hence helping them to find their ultimate dream home in our paradise island”. From the large golf resorts in Bel Ombre in the south and in Tamarin in the West, to the smaller integrated resorts in the more touristic north of the island in Grand Bay, Park Lane has a wide range of properties available to buyers looking for a place to retire or to invest in, looking for a better quality of life for themselves and their families, far from the turmoil of Europe, yet so well connected and developed.