Mauritius Real Estate Acquisition

Advisory & Support Services

Mauritius offers world class real estate residential properties that may be acquired by international investors. These include golf estates, inland or residential properties having a marina concept. The high end properties have attractive rental income potential which may be fully repatriated. The hospitality sector also offers investment opportunities.

Foreigners are only allowed, by law, to acquire real estate in Mauritius under four schemes:

1. Integrated Resort Scheme (IRS) - minimum price is USD 500,000 (excluding taxes)
2. Real Estate Scheme (RES) - no minimum price
3. Occupation Permit
4. Invest Hotel Scheme [IHS]

IRS/RES

The acquisition of a residence under IRS automatically qualifies the acquirer to apply for a permanent residence permit (PRP) for him/her & family under the Immigration Act of Mauritius provided the fixed duty of USD 70,000 is paid to the Registrar General.

The acquisition of a residence under RES makes the acquirer eligible to apply for a permanent residence permit (PRP) for him/her & family under the Immigration Act of Mauritius provided the value of the property exceeds USD 500,000 and a fixed duty of USD 25,000 is paid to the Registrar General. Acquirers of a residence under the RES are eligible to apply for residency under any of the 4 existing conditions: as an investor, as a professional, as a self-employed, or as a retired non-citizen. Varying conditions apply to each category.

A PRP is a permit that allows an eligible non-citizen to work and/or live in Mauritius for a period of 10 years. It is renewable.

Occupation Permit (OP)

An OP allows a non-national to work in Mauritius. It is both a work and a residence permit. The average processing time for the issue of the OP is 10 days. The OP is issued under the silent approval concept, i.e., if the applicant does not hear from the authorities past the date inscribed on the application receipt handed over to the applicant, approval should be assumed.

Since 21st December 2012, a professional who has a monthly salary of more than US$ 3,000 or a foreigner who invests more than US $ 100,000 will now be able to purchase an apartment in a building with at least two floors above ground for their personal residence upon receipt of their "occupational permit".

Since 21st December 2012, a foreigner who invests over US$ 500,000 in one of the "qualified activities" will also be eligible for a PRP. Such investor will then be allowed to purchase an apartment in a building with at least two floors above ground for his/her personal residence.

Invest-Hotel

Invest-Hotel is a scheme designed to enable property developers to sell hotel rooms, villas, suites or any other part of a hotel to individual buyers. It offers individual buyers all the facilities of an exquisitely-furnished new luxury resort hotel with amenities like F&B, full-service spas, health and fitness centres, resort-style pools, sophisticated business centres and maid service and the promise of rental income.

On acquisition, the buyer of a unit secures ownership title to a specific unit or part of the hotel.

• There is no minimum investment on acquisition of a room, suite or other part of the hotel.
• However, there is a minimum investment of US$ 500, 000 for a stand-alone villa.

Manner of purchase of property

1. In the individual's own name or
2. Under a Domestic Company or
3. Mauritius Trust.

Tax and other benefits

1. No tax on Capital Gains in Mauritius
2. No foreign exchange control
3. Free repatriation of profits and capital.

GWMS has the expertise to assist you as follows:

1. We have excellent working relationship with several of the property developers and estate agents who specialize with such types of properties. We only work with genuine and reputable companies and intermediaries and can introduce you to them. We urge you to beware bogus schemes or parties who may entice you to acquire properties which may turn out to be illegal. GWMS is a regulated entity (by FSC) and is able to assist you to acquire real estate property in compliance with Mauritian legislations, as well as administration of the entity holding the property.
2. We have the expertise to advise you on the structuring of your investment tax efficiently.
3. GWMS can handle your application for permanent residence.
4. We also can handle your Occupation/ Work Permit applications for foreign directors of Category 1 Global Business Licence vehicles who wish to work and live in Mauritius, expatriate staff, investors of Global Business, domestic companies or others.