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Investing in luxury property in Mauritius – IRS

Posted by jana on January 16, 2018
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Mauritius, a paradise island in the Indian Ocean, just 61 kilometers long and 47 kilometers wide, is one of the most popular countries for foreigners looking to buy a second home. Its government is one of the most stable and progressive in Africa and has introduced deliberate and very successful policies to diversity its economy and attract foreign investment. On the property front, the Mauritian government recognized that its beautiful landscape was a magnet for high-wealth individuals, bringing in foreign investment. Therefore, it has passed legislation allowing foreigners to buy property under specific regulations set by BOI (Board of Investment).

Private luxury Villa with pool for sale in Mauritius

Investing in a villa allows you to reside in Mauritius and create your ideal lifestyle. The climate is tropical and pleasant, its inhabitants are welcoming and harmonious, and the island’s infrastructure is modern. It offers beautiful beaches, a good education system, low crime rate and a well-developed healthcare system, that assures foreigners a high standard of medical treatment. The main languages of English and French make it an easy option for European expats or investors and good flight connections allows perfect accessibility.  An advantageous tax system completes the picture, positioning Mauritius as a qualitative destination, and a safe and profitable investment center.

Private Luxus Villa mit Pool auf Mauritius zu verkaufen

The Integrated Resort Scheme (IRS) was set up in 2005 by the Mauritian government in collaboration with the Board of Investment in Mauritius to allow foreigners to buy real estate in Mauritius. The minimum selling price of an IRS unit is USD 500,000 and allows international buyers to become Mauritian residents once they acquire a luxury property on the island. The villa owner and his family are able to reside in Mauritius as long as he holds the property. Buyers do not need an occupation permit or residence permit to buy a property. By choosing to live in Mauritius for 183 days a year (6 months + 1 day), owners may also benefit from tax residence and enjoy all the advantages of the Mauritian tax system.

Villa de luxe privée avec piscine à vendre à l'Ile Maurice

The luxury villas of international standards must provide high-class leisure and commercial amenities and facilities under BOI regulations. These may include but are not limited to, golf course, marina, nautical and other sport facilities, shopping mall, restaurant, wellness center among others. The estates also include day-to-day management services such as security, maintenance, gardening and waste disposal. The estate developers are obliged to make a social contribution by supplying community development facilities to the local neighborhood.

私人豪华别墅在毛里求斯出售游泳池

Mauritius also offers an advantageous fiscal regime, governed by international conventions. Double Taxation Avoidance Agreements have been signed between Mauritius and several countries (France, England, Germany, South Africa, India, etc …) allowing foreigners domiciled in these countries to pay taxes in Mauritius on their Mauritian property. The tax rates have been simplified and standardized for all aspects of local taxation, or a fixed rate of 15%, which include: Income tax, taxes on local companies and Value Added Tax, all equally taxed with 15%. Mauritius offers significant tax benefits aimed at promoting investment and development and there is no tax on capital, no tax on real estate gains and no inheritance tax.

For more information on private luxury Villas for sale in Mauritius, please visit our partner page IQM Mauritius.

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