Mauritian authorities facilitate foreign investments with clear objectives:
Establish a competitive and attractive investment climate
Open the country to investors and foreign expertise
Favour quality investments
Provide a light, simple and attractive tax platform
Diversify investment opportunities
Facilitate procedures through the “Board of Investment”
And have several advantages
A stable democracy
The Rule of law with an independent legal system
A strategic location between Europe, Asia and Africa
Bilateral agreements and advantageous taxation
The quality of infrastructure: air, sea, road, financial and communication
Quality of life: climate, peaceful population
Property investments in Mauritius
Property investments by a foreigner in Mauritius are governed by the “non-Citizen Property Restriction Act”. Foreign nationals may acquire a personal real estate property under a PDS (Property Development Scheme) such as Constellation Marguery. This must correspond to a real estate investment of a minimum of US$500,000.
The request for authorisation to invest should be filed with the B.O.I, Board of Investment, which after receipt of the complete file, agrees within 3 to 5 days.
INVESTING IN A PDS SCHEME
The PDS – Property Development Scheme – has since August 2015 replaced the old RES and IRS systems. This new legal framework, more restrictive for Property Developers is designed to:
Strengthen the security of foreign investments:
- Sales before completion (VEFA): as is the case in France, the VEFA allows the release of progressive funds, in line with the progress of the work, until the handover of keys and the lifting of reserves
- For all regularisation of notarial deed, all documents required by the Act (those concerning the developer and those concerning the purchaser) must be obtained.
- Security deposits are recorded in escrow accounts.
- Completion of work guarantees (GFA) are subscribed by the developers from these banks, international or local.
- A ten-year and biennial guarantee similar to what is found in FranceOffer more services:PDS property developments must offer recreational areas that allow the development of units in villas or apartments (for example: gym). Services will include site security, general maintenance, solid waste and personal services, and other facilities to provide benefits to the resident community.Integrate into its environment:Developments must now integrate perfectly with the surrounding Mauritian population to avoid “ghettos” distanced from any local life. Ecology is becoming an important aspect to be taken into account under this scheme. The integration of solar panels, green spaces, infrastructures favouring good ventilation and brightness, and water recovery are some of the key aspects of this new system→ CONSTELLATION MARGUERY is an exclusive development that fully meets these requirements. It is accessible to foreigners and allows them to benefit from all the tax advantages of an investment in Mauritius, including obtaining a residence permit.