MAURITIUS
grow by 3.7% in 2014 and that inflation will remain
subdued in 2014 at less than 4%.
Mauritius has realised a remarkable economic
transformation, attracting substantial investment
from both local and foreign investors.
Real estate
According to the government’s estimation, the real
estate sector in Mauritius will be the biggest driver
of growth in 2014, providing large-scale employment
and contributing significantly to the country’s growth.
An increasing number of old sugar plantations of the
island are turning to real estate with a portion of their
agricultural land to build shopping centers or residential
developments for foreigners. The construction boom
expected, focusing on the luxury tourism market, as
well as good infrastructure, make the island a popular
destination for real estate investment.
Investing
Foreign nationals or non-Mauritian citizens are
allowed to work and/or live in Mauritius under three
distinct and simply laid down schemes: as a retired
non-citizen; as a professional; or as an investor. A
‘Work & Live in Mauritius’ department within
the country’s Board of Investment acts as a singlefacing service counter to expedite formalities for
individuals and investors setting up in Mauritius.
Foreign nationals, investors and non-investors alike,
FAST FACTS
Location
2,400 km off the south-eastern
coast of Africa
Capital
Port Louis
Population
1.3 million
Population Growth 0.4%
Main Language
English (official language)
and French
Area
1,865 square kilometres
36
Offshore Handbook 2014
may also buy freehold property in Mauritius under
the provisions of two specially studied schemes, the
Integrated Resort Scheme (IRS) and the Real Estate
Scheme (RES).
Under the Integrated Resort Scheme (IRS), luxury
villas and other residential properties can be sold
freehold at a minimum price of U$D500,000 to
foreigners who, de facto, receive a residence permit.
The few IRS villas put on the market so far have
proven very popular. The IRS targets the high-end
segment of the international property market. The
investor may sell the property with no minimum
selling price restriction; rent the property, elect tax
residency in Mauritius and is free to repatriate funds
or revenue realised from the sale or renting of the
IRS property.
Under the Real Estate Scheme (RES), residential
units are sold to non-citizens at no minimum price.
However, acquisition of property worth at least
U$D500,000 entitles the purchaser a residence
permit. This scheme is targeted mainly for those
investors, retirees and professionals who want
to invest, work and live in Mauritius or for those
individuals who want to have a second home or
holiday retreat in Mauritius.
As such, buying property in Mauritius brings an
additional benef it, allowing investors and their
dependant family members to reside in Mauritius
as long as ownership is retained. A residency permit
also entitles the resident to apply for an occupation
certif icate which allows the resident to start a
business or to become an employee of a company in
Mauritius. After the government-prescribed number
of years, investors can apply for a Mauritian passport
in addition to their residency permit.
RESOURCES
Villas Val Riche
Pam Golding Properties
International Monetary Fund (IMF)
www.reimag.co.za