Investment in Property
With the high demand for acquisition of real estate residential properties that the Mauritius Government has received from international investors, the Government of Mauritius has made it its priority to develop the industry and the hospitality sector.
There were three regimes that were launched by the Government of Mauritius to enable international investors to invest in immovable property in Mauritius.
Those regimes are the Integrated Resort Scheme (IRS), the Real Estate Scheme (RES) and the Invest Hotel Scheme (IHS). With the acquisition of an IRS property and some of the RES properties, buyers and their dependents benefitted from Residence Permits to live indefinitely in Mauritius.
In 2015, the Government of Mauritius has further developed his vision and replaced the IRS and RES with new schemes. The Investment Promotion Act has been amended to make provision for the introduction of a Property Development Scheme (PDS) and a Smart City Scheme (SCS).
To this effect, there are three schemes namely the Property Development Scheme [PDS], Smart City Scheme [SCS], and Invest Hotel Scheme [IHS] enabling foreign investors to acquire a residential property on the island as well as receive de facto, permanent residence under some of those schemes.
The property can be purchased for investment purposes, can be rented out part of the year or as a permanent or secondary residence. With the residence permit, an investor may elect tax residency in Mauritius, as well as repatriate revenue generated from renting of the IRS property. The property can be acquired in the individual's name, under a Domestic Company, by a Mauritius Trust or by a GBC1. There is no tax on Capital Gains in Mauritius and no exchange control enabling free repatriation of profits and capital.
MITCO Corporate Services Ltd has the expertise to assist you with the acquisition of the real estate property in compliance with Mauritian legislations, as well as administration of the entity holding the property.