Mauritius, a prime real estate destination
Tax advantages
Mauritius is known for its beaches, multiculturalism and lagoons… But that’s not all. In the eyes of investors, it’s also a first-rate destination for capital growth and asset diversification.
Mauritius’ attractive tax system applies in particular to real estate: the absence of capital gains tax and the double taxation agreements (DTA) signed with some forty countries – such as France and the UK, for example – are designed to attract foreign investors.
The tax advantages of property acquisition by foreigners are considerable: double taxation agreements (DTA), no capital gains tax, tax-free transfer to direct heirs and the possibility of applying for tax residency in Mauritius are among the main advantages Mauritius has to offer.
Finally, real estate programs such as the Property Development Scheme (PDS) and the Smart City Scheme (SCS) make property purchases all the more attractive as they are accompanied by a temporary or permanent residence permit for the purchaser and his/her family from the threshold of 375,000 USD invested – the latter status also allowing the purchaser to become a tax resident of Mauritius.
Quality infrastructures
Buoyed by stable governance and a long-term vision, Mauritius has established itself as one of the most advanced centers on the African continent. Over the years, the country has developed modern infrastructures and high-performance services designed to sustain its economic and social growth. Thanks to its demanding education system, offering both English and French courses, the country has achieved a literacy rate of almost 92%.
When it comes to healthcare, the region boasts many state-of-the-art hospitals and clinics, with specialized services and foreign-trained doctors – a guarantee of quality care.
Transport is also evolving rapidly: in addition to road infrastructures throughout the island, the country has a light rail system (the Metro Express) and several bus networks criss-crossing its regions.
Last but not least, the country benefits from optimal connectivity: its Internet network, based on several undersea cables, is reliable and modern. All these aspects make Mauritius an advanced country where the comfort of life is optimal, and explain why so many expatriates have chosen to settle here!
An exceptional quality of life
The quality of life in Mauritius is undoubtedly one of its most recognized aspects worldwide. And with good reason: its cultural melting pot makes it a destination prized for its tolerance, conviviality and art of living at the crossroads of continents. In this respect, the island’s cuisine is one of its most distinctive features, and one that remains engraved in the minds of all those who have visited: drawing its inspiration from Africa, Asia and Europe, it has no equal anywhere else in the world.
The island, with its long sandy beaches, lagoons to explore by boat or water sports, and mountains renowned for their hiking and trail trails, is a sportsman’s paradise. All these aspects make it a stimulating place to live, where you feel relaxed and connected to your surroundings.
So it’s not hard to understand why so many expats have fallen for this destination, which ticks all the right boxes!
A thriving business environment
Foreigners who have chosen to settle or work in Mauritius know that the country is full of opportunities for launching a business or expanding their professional activity.
At the crossroads of three continents, Mauritius has many of the criteria that entrepreneurs are looking for: this dynamic regional hub has a long history of political stability, a transparent and straightforward legal framework – a mix of French Civil Code and British Common Law -, investment protection and exemplary economic governance.
Finally, for those seeking an unbiased indication of Mauritius’ strengths, the 2020 Ease of Doing Business ranking ranks the country first in Africa and 13 out of 190 worldwide for ease of doing business. Enough to reassure even the most demanding investors.
An attractive real estate sector
For two decades now, Mauritius has been developing real estate programs to attract foreign buyers, while regulating the possibilities and legislative framework for such investments. After the IRS and RES programs, the government introduced the PDS and Smart City programs, which are still active today. These programs encourage real estate developers to build new VEFA projects – a legal framework that protects the buyer while allowing the developer to develop the project in stages – by combining a range of amenities around these projects to encourage economic development in the region where they are located.
Such criteria have not only encouraged reasoned and intelligent development of the territory, but also increased land values. This reinforces the value of any investment in land, which will become increasingly scarce over time.