The Mauritian government has set up several special schemes to enable non-citizens to acquire real estate: IRS, RES, PDS and Smart City.
Domaine d'Anbalaba is being developed under the IRS (Integrated Resort Scheme), opening its doors to foreign investors.
THE BENEFITS OF THE IRS SCHEME
If you buy a property worth more than $500,000, you will be granted an Occupation Permit, and if you reside in Mauritius for at least 183 days a year, you can become a Mauritian tax resident.
What's more, the double taxation treaty signed between France and Mauritius allows you to benefit from a gentle tax regime:
- Income tax of just 15%.
- No IFI (Impôt sur la fortune immobilière - tax on real estate wealth)
- No capital gains tax on the resale of your property
- No CSG, property tax or council tax.
In 2002, the Mauritian government established the Integrated Resort Scheme (IRS) legislation to encourage foreign investment in Mauritius. This legal framework offers non-citizens the opportunity to acquire freehold property in the heart of an integrated development scheme, for a price in excess of $500,000.
Allowing buyers to take advantage of Mauritius' exceptional living environment, IRS investment is a safe investment guaranteeing high capital appreciation, not least because of the island's popularity as one of the world's most sought-after luxury destinations.
Mauritius offers direct flights to many countries, including France, with which it has a two- to three-hour time difference, depending on the season.
Investing in an IRS also enables buyers, as well as their spouses and dependent children, to benefit from a permanent residence permit and to take advantage of the island's particularly favorable tax system. Mauritius offers low income tax at a flat rate of 15%, and exempts purchasers from inheritance tax and capital gains tax. Mauritius also benefits from the double taxation avoidance agreement signed with 32 countries, offering total exemption from wealth tax.
WHAT IS AN IRS? (INTEGRATED RESORT SCHEME)
• A legal scheme created by the government and BOI (Board of Investment), allowing foreigners invest in specific real estate developments in Mauritius;
• A minimum unit price of USD 500,000;
• Developments of a total area of more than 10 hectares, subdivided in plots of maximum 0,5276 ha;
. All Units sold on a system known as VEFA (Vente en État Futur d’Achèvement, or sale under condition of future completion);
• A minimum investment on the part of the developer of 200,000 rupees per unit sold, as a social contribution.
More informations
And to find out more about investing in Mauritius, see our dedicated fact sheet.