PROPRIÉTÉS DE PRESTIGE
Buying a house in Mauritius has long been an unattainable dream
for foreigners. When the government implemented the Integrated
Resort Scheme in 2002, the first specific legal framework to
develop luxury real estate this helped to give an international
standing to the already upmarket tourism sector. Since then,
numerous attractive projects have emerged, the legal framework
was adjusted, most notably with a redesign in 2015, allowing
everyone including politicians, athletes, artists, businessmen or
those retired and in love with Mauritius, to realise their dream of
owning a little piece of paradise.
In Mauritius, up until today, three schemes have allowed noncitizens to acquire immovable property.
Integrated Resort Scheme (IRS): This applies to luxurious
residential complexes of more than 10 hectares, including a certain
number of benefits: world-class golf resort, marina, swimming
pools, restaurants, hotels, spas, sports complexes, not to mention
security services, maintenance, domestic staff, etc. These residences
are sold with a starting price of USD 500 000.
Anahita, Villas Valriche and La Balise Marina are among the most
prestigious Integrated Resort Schemes.
The acquisition of a villa under this scheme grants resident status
to the investor, his spouse and his dependants. The permit of
res idence remains valid as long as the investor holds immovable
property on the island.
The Real Estate Scheme (RES): based on the same principle as
the IRS, the RES applies to luxurious residential complexes not
exceeding 10 hectares.
The purchase of a villa or an RES apartment does not lead to
automatic entitlement to a permit of residence (except in the case
where the amount exceeds or is equal to USD 500 000). This does
not prevent those who are interested in applying for a permit, as an
investor, a retired person, an employed professional or as a selfemployed individual to do so, as authorised by the law. That being said,
it is possible to reside for a period of six months without a permit.
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LUXURY MAURITIUS
Finally, the Invest Hotel Scheme (IHS) allows you to purchase
a room, an apartment or a villa forming part of a hotel complex.
The advantage: the investor benefits from all the services offered
by the hotel for 45 days per year and earns rental income for the
remainder of the year. In fact, the management of his property,
governed by a condominium regulation, is entrusted to the
company that manages the hotel.
There is no prescribed minimum investment for the purchase
of a room, suite or another part of the hotel, except if you wish
to acquire an independent villa where the minimum price
is set at USD 500 000.
Who can purchase?
- An investor (including his spouse and
dependants)
- A foreign company under the
Companies Act (of Mauritius) 2001
- A company incorporated under the
Companies Act (of Mauritius) 2001
- A partnership whose deed of formation
is deposited with the Registrar of
Companies
- A trust, whereby the trustee is licensed
by the Financial Services Commission
- A citizen of Mauritius
In 2015, the IRS and RES concepts have been repealed and
replaced by the Property Development Scheme (PDS), in
accordance with the Promotion Act 2000 and the Investment
Promotion (Property Development Scheme) Regulations 2015
(see on page 94). In fact, for the purchaser of an IRS or RES villa,
this changes nothing insofar that the regulations defining the
already existing projects remain in force.
For more information on the procedures : www.investmauritius.com