Anbalaba IRS: Your gateway to the Indian Ocean
Mauritius’ Integrated Resort Scheme (IRS) legislation allows foreigners to acquire freehold property in designated integrated resort schemes for a price in excess of USD 500,000.
THE BENEFITS OF THE IRS SCHEME
This secure investment is the guarantee of substantial price appreciation, not least because Mauritius is one of the safest and most sought-after luxury destinations in the world. Its international airport offers air links to a large number of countries around the world. The time difference with Western Europe is of only two or three hours, depending on the time of year.
IRS legislation allows buyers, their spouses and their children to:
- obtain a permanent residence permit,
- benefit from a highly advantageous 15% fixed tax rate,
- be exempt from inheritance tax and capital gains.
- Finally, thanks to the country’s 32 double taxation avoidance agreements, real estate purchased in Mauritius is exempt from the French solidarity tax on wealth.
In 2002, the Mauritian government enacted the Integrated Resort Scheme (IRS) to encourage foreign investment into Mauritius. This legal framework allows non-Mauritians to acquire freehold real estate of a minimum value of USD 500,000 within designated integrated development schemes.
Not only do IRSes allow buyers to benefit from Mauritius’ exceptional quality of life, they also represent a safe investment. They offer the potential for high capital appreciation, due in particular to the growing success and notoriety of the island, now one of the most popular luxury destinations in the world. Mauritius also offers direct flights to a large number of countries, including France, and is only two or three hours ahead of the latter, depending on the season.
Investing in an IRS also allows the acquirer, their spouse and any dependent children to both obtain a permanent residence permit in Mauritius and benefit from the island’s particularly favourable taxation regime. Mauritius offers a fixed 15% of income tax rate and exempts those who purchase real estate from inheritance and capital gains taxes. It also allows IRS owners to benefit from Mauritius’ double taxation avoidance agreements with 32 countries and therefore provides for total exemption from the French solidarity tax on wealth.
Anbalaba IRS allows for the acquisition of a RESIDENCE PERMIT on the part of the purchaser, his or her spouse and any dependent children under the age of 24. The permit is valid for the entire period that they own the property.
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.