Foreign Direct Investment ( FDI )
A NOTE
FROM PROPERTYFINDER . MU MANAGEMENT
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 further developed it ’ s 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 .
In addition to the Government ’ s incentives for investments ( tax incentives , payment facilities , etc .), the country offers investors a stable economic and political environment , modern infrastructure , a solid judicial system , a stable financial system and a highly skilled and dynamic workforce .
CULTURE Mauritian culture is a product of settlement by inhabitants from other civilizations , French , European , Indian , Chinese ,
US $ 239
2017 Million
2018 177 . 8 %
Average of Mauritius Total GDP between 2007 - 2018
English , and African . There is no indigenous culture . This makes Mauritius a rich melting put of religions , foods , and influences .
English is the official language , but French is widely spoken and Creole , a French dialect , is preferred by locals .
The Government is embarking on an ambitious diversification strategy , encouraging the Information and Communications ( ICT ) sector , and promoting the island as a seafood hub .
MAURITIUS MILLIONAIRES In the meantime , the number of millionaires in Mauritius grew by 20 percent in 2016 to approximately 3,800 , which is much higher than in larger economies like Ghana and Ethiopia .
According to the report , Mauritius , an island nation with a population of 1.3 million people , has more than tripled its number of millionaires in the last one decade , compared with an average of 19 percent across the African continent .
“ Mauritius retains its spot as the wealthiest country in Africa , ranking ahead [ of ] South Africa , Namibia , Botswana , Egypt and Angola .
TOURISM Mauritius tourism industry has experienced drastic growth in the last decade .
The Island of Mauritius had about 18,000 visitors in 1970 and in the last few years this number is almost reaching 1 million visitors to Mauritius annually .
The tourism sector is one of the main pillars of the local economy , and created 30,000 full time job equivalents in 2000 and the number today it is estimated that almost 40,000 has full direct employment in the tourism sector .
Tourists visiting Mauritius are primarily European , mainly French and British .
The amount of resorts and hotels along Mauritius coastline is increasing every year to accommodate the increasing number of tourists visiting the Island .
Foreign Direct Investment ( FDI )