The Island of Mauritius, renowned for its beautiful coastline and tropical climate, has over the past decade managed to attract substantial foreign investment into the country, as well as to firmly establish itself as a secure and reliable investment destination. This, is mainly due to its progressive investment oriented fiscal policies, good corporate and financial governance, transparency and ethics.
Over the past 12 months, investment into Mauritius by French citizens has risen significantly. In particular, investment by French citizens into real-estate developments, called either Integrated Resort Schemes (IRS) or Real-Estate Schemes (RES), which offer foreigners the opportunity to reside permanently in Mauritius. One of the driving factors behind these property purchases is the fiscal advantages of being tax resident in Mauritius.
Under IRS, residential properties such as luxury villas, apartments and penthouses can be sold freehold to foreigners at a minimum price of US$500 000, which entitles the purchaser and immediate family to a residency permit. Under the Real-Estate Scheme (RES), residential units target all price brackets and are sold to foreigners at no minimum price, however, only acquisition of property over US$ 500 000 entitles the purchaser and immediate family to a residency permit. Furthermore, residency is linked to the property so should the property be sold, then residency is relinquished. From a business perspective, a residency permit entitles the resident to apply for an occupation certificate which then allows the resident to start a business or to become an employee of a company in Mauritius.
The investment oriented fiscal policies implemented in Mauritius over the past decade have created an investment friendly environment and a low tax jurisdiction which has encouraged both foreign individuals and companies to purchase property as well as set up businesses. The fiscal benefits when tax resident in Mauritius include :
• No Inheritance taxes
• 15% Corporate and Personal Income tax rate
• No capital gains tax
• Tax free dividends
• Free repatriation of profits, dividends and capital
• 80% Tax credits for offshore companies - GBL1 (actual tax rate of 3%)
• 15% VAT (refundable)
• Exemption from customs duty and VAT on equipment
Over and above the financial benefits the lifestyle benefits of residing in Mauritius are also substantial. The friendly culture, tropical climate, easy lifestyle and reasonable cost of living all appeal to the French, with the added advantage of familiarity in language and cuisine due to its French heritage.
In terms of sales to foreigners, The Pam Golding Properties group alone sold over USD100 million in property in 2013, many of which were to French citizens. Currently, there is an exciting variety of developments being marketed by Pam Golding Properties across all areas of the Island.
The flagship development launched 12 months ago is Le Parc de Mont Choisy Golf and Beach Estate, situated in the North between the vibrant Grand Baie and the beautiful Mont Choisy beach. To date over 75 sales have been concluded with a further 10 units reserved. This phenomenal reception worldwide is in part due to the fact that this will be Grand Baie’s only Golf and Beach estate but also due to the high calibre of professionals involved in the development. Stefan Antoni of SAOTA – Stefan Antoni Olmesdahl Truen Architects is a major draw-card, together with the fact that world-renowned South African designer, Peter Matkovich, designed the 18-hole golf course, providing both local and international appeal. This coupled with an experienced developer who has completed 4 other projects in Mauritius and currently has another development under construction, drives the appeal.
Another development situated in the North, of which 65% are sold, is AO Luxury residence.Wonderfully positioned in the exclusive suburb of Merville which is home to the Royal Palm and Merville Beach hotel. This development encompasses 30 luxury villas, townhouses, and residences, situated in a lush garden environment and combines quality and luxury with access to one of the most beautiful bays in the Grand Baie region.
Should clients prefer to reside on the West side of the Island the recently launched Les Lataniers Bleus,which is situated in Tamarin, is a rare beachfront property development available to foreign buyers looking for a property investments in Mauritius. Only 14 units with direct sea access to a pearl white beach with spectacular views to the land-mark Le Morne Peninsula, home to some of the Islands top hotels.
For golf enthusiasts, and also situated in Tamarin Bay is the exclusive Tamarina Golf and Beach Estate, the first ever IRS completed in Mauritius. The Estate harnesses the finest attributes of Mauritius and delivers this to you in a compellingly designed real-estate offering. A total of 119 luxuriously appointed villas on 3500 m2 of land, alluring contemporary architecture, an 18-hole Championship golf course designed by Rodney Wright, Clubhouse with restaurant and bar, tennis courts and the pristine Tamarina Beach club.
On the East Coast of the Island is the prestigious Anahita Resort. This resort offers the best that Mauritius has to offer with a range of real-estate products from duplexes to exclusive private villas. The Anahita Golf Course, designed by South African Champion Ernie Els and managed by Four Seasons Golf Club, is an 18-hole, 72-par championship course with large fairways and five sets of tees. Built to USGA standards, it is the first of its kind in Mauritius. Carefully woven into the tropical sanctuary, the course is set against a backdrop of lush mountains and fringed by the vast crystal-clear lagoon. Six stunning oceanfront holes culminate in a final shot that is among the most spectacular in the world.
Prices start from approximately Eur250,000.
For more information, please email : [email protected]
or contact Pam Golding Properties Mauritius on office +230 263 0600,
Mridula Sembhoo +230 5728 8200,
Yves de Comarmond +230 5252 7685,
Jacques Nell +230 5826 4456,
Jonathan Tagg +230 5498 3842
Website : www.pamgolding.mu
