Why Mauritius ?

A stimulating island to nurture growth

A sun-drenched island, Mauritius boasts a coastline of almost continuous sand, beaches and lagoons against a backdrop of mountains and greenery. Countryside and seaside are as beautiful, offering an amazing palette of greens and blues and breath-taking views. Year-round, soak up the sun whether you’re chilling on the beach or simply taking a stroll in the city.

AN AUTHENTIC HUMAN EXPERIENCE

In addition to its natural assets, the wealth of the island’s natural, historical and cultural heritage bears witness to a fascinating history. The welcoming Mauritian people originate from Africa, China, Europe and India, blending into a harmonious peace-loving nation that is all the richer thanks to this unique cultural diversity. Here is a rare example of a genuine rainbow nation offering the priceless opportunity of authentic and enriching human experiences.

A RICH CULTURAL MENU

Multi-ethnic Mauritius translates to ancestral traditions, colourful cultural celebrations and some of the best cuisines of the world. The tasteful fusion of these inspires the local Creole dishes. The island’s openness to the world also ensures a cosmopolitan choice and refined gastronomy that will delight any gourmet. Quality local and international cultural events and modern movie theatres airing the latest blockbusters complete a rich cultural menu.

ACTIVITIES AND EVERYDAY LIFE

In Mauritius, one is spoilt for choice between land and sea: spectacular championship golf courses, deep-sea fishing or diving, relaxing catamaran cruises and thrilling kite surfing, quad-biking and hiking in the midst of nature — exploring parks and discovering sensational panoramas that count among the island’s best kept secrets.

Concerning practical everyday requirements and needs, Mauritius lacks nothing to make daily life easy: banking, quality medical services, shopping and educational facilities abound. With the number of private institutions offering an international curriculum in English or French and private student carriers operating all over the island, children schooling is no problem at all.

OCCUPATION & RESIDENCE PERMITS

Mauritius is a safe, hospitable island with a smooth-paced life. It is the ideal location to achieve optimal balance between work, family and leisure, and reach a holistic stance between mind, body and spirit. In Mauritius, there is time for business, time for human relationships and time to embrace the joy and sweetness of living.

Eligibility and Validity

The acquisition, by a foreigner, of a property exceeding a price of USD 500,000 under a Smart City Scheme entitles the owner to a Mauritian Residency Permit for himself and family. Owners can rent or resell the property.

The residency permit is valid only as long as ownership of property remains. In case of sale, it is transferred to the new owner. Exceptions are retired owners — who can obtain permanent residency rights, subject to specific terms.

Work Permit

Any holder of a Mauritian Residency Permit under the Smart City Scheme is entitled to apply for a work permit and engage in professional activities in Mauritius. Formalities have been streamlined for rapid delivery, provided regulatory and documentary requirements are effectively met by applicants.

Scope of Residency Rights

Under the Smart City Scheme, the spouse of the property owner and children below 24 years are eligible to the Mauritian Residency Permit. For unmarried partners, only the owner partner obtains residency rights — the other partner is entitled to a residency permit renewable on a yearly basis.

Obtaining a Mauritian Residency Permit does not automatically entitle to a work permit, the right to acquire any other real estate property in Mauritius or obtain Mauritian Citizenship.

Foreign investors who have invested above USD 5 million in Mauritius and have had Mauritian residency rights for 2 years can apply for Mauritian citizenship, which would then entitle them to acquire property in Mauritius.

Mon Trésor

ACQUISITION OF RESIDENTIAL PROPERTIES

Any foreign person, entity, company or Trust — even if operating offshore — is eligible to acquisition rights on a residential property under Mon Trésor Smart City Scheme.

It only requires a 3-step and streamlined procedure.

  1. Signature of the Preliminary Reservation Contract.
  2. Subject to prospective buyer supplying all documents, follows the application with the Economic Development Board (EDB).
  3. Once approved by EDB, the deed of sale is signed between buyer and seller, in presence of a notary
Legal Framework

A specific legal contract, Vente en État Futurd’Achèvement (VEFA), governs the “sale under state of future completion”: the buyer immediately obtains property rights subject to the payment of instalments from reservation through construction works to reception of keys.

Promoter submits to buyer a Garantie Financière d’Achèvement (GFA) — financial guarantee of completion. It is issued by a trustworthy bank which stands as guarantor to the delivery of the property, duly completed, by the promoter to the buyer.

INVESTING IN MAURITIUS

Mauritius is strategically located and easily accessible, at the crossroads between Africa, Asia and Australia. Despite few natural resources, it is one of the most successful economies in Africa, with the highest GDP per capita. Renowned on the international real estate market as a land of valuable opportunities, it is a place of convergence for sound investments and serene living.

As a result of its political and economic stability; a highly literate, skilled and bilingual work force; excellent infrastructure and freeport; a sound financial services sector and a light fiscal regime, the island has become an attractive destination for foreign investors.


INCENTIVES FOR INVESTORS

Mauritius offers investors the valuable financial incentives:

  • Double taxation agreements (DTAs) with more than 30 countries
  • Tax holidays and tax-free dividends
  • Zero exchange control
  • Only 15% corporate and personal tax rate
  • Free repatriation of capital and profit
  • No wealth tax


As a result of securing a number of international trade agreements, Mauritius also enjoys preferential access to major markets:

  • European Union — through the Cotonou Agreement
  • USA — through the Africa Growth & Opportunity Act
  • Eastern Africa and Southern Africa — through COMESA and SADEC
Should you require detailed information, we invite you to visit www.edbmauritius.org


QUICK FACTS

  • GDP per capita: Approx. USD 9,600 (2016)
  • Moody’s Investors Service: BAA1 (2017)
  • Political system: Democracy with free and fair elections held every 5 years
  • Official language: English
  • Other major languages: French, Creole, Hindi
  • GDP Growth: 3.6% (2016)
  • Unemployment: 7.9% (2015)
  • Inflation: 1.2%
  • Repo rate: 4%

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