Mauritius has often been described as “Heaven on Earth”. There are few places that are more beautiful than this exotic island which has one of the most fascinating collections of flora and fauna in the world. The blue seas, the vast sandy beaches, the luxurious hotels – Mauritius is every luxury traveler’s top destination.
Equally fascinating about Mauritius is the sheer diversity of its local population. People from all major races in the world are found here, and they have no trouble living together in an atmosphere of complete peace and amity. The relaxed charm of the local population, their sheer friendliness offers a great attraction to someone who is looking to stay on for a little longer in Mauritius, perhaps permanently, by buying property in Mauritius.
There is a steady flow of foreign investors looking to buy property in Mauritius; attracted by the high rental income a house in Mauritius can fetch you. A real estate agent based in Mauritius says, “We find that most buyers are well informed in regard to Mauritius and recognize the importance of location when it comes to rental income and capital growth potential,” adding that most desirable location in Mauritius for most foreigner investors, especially for those looking to profit from the rental market was the capital Port Louis.
It’s possible to get excellent returns on a property investment in Mauritius. The government here is very business friendly and has undertaken a slew of measures to encourage foreign investors to buy property in the country, offering outstanding incentives such as tax breaks and a guarantee of a permanent residency. All of these factors together make Mauritius an outstanding opportunity for a property investment.
There are several amazing programs that have been launched by the government in Mauritius that helps foreign investors to invest in residential property here. Let’s have a look at some of the investment schemes introduced by the Government of Mauritius.
The Permanent Residence Scheme (PRS) meant for foreigners who are interested in staying for months at a stretch in Mauritius or visit the nation frequently. On making a minimum investment of $500,000 in Mauritian property, foreign investors are eligible for permanent residency. They can buy up to 5276 sq m of land, which is located at a distance of at least 100 meters from the sea front, but the land should only be used for residential purposes.
The Integrated Resort Scheme (IRS) is meant for foreigners looking to buy luxury villas in a Mauritian resort which is of an international standard. The foreign investor gets a residency permit for this, which also extends to his or her immediate family members, and can stay on in Mauritius without any restriction for as long as he or she owns the property. Foreigners buying property can invest in up to 5276 sq m of land, which is located at a distance of at least 100 meters from the sea front, but the land should only be used for residential purposes.
The Scheme to Attract Professionals for Emerging Sectors (SAPES), is meant for highly skilled and talented foreigners who wish to stay in Mauritius. This scheme is targeted to professionals in the Information & Communication Technology and Financial Services sectors.
Besides buying property in Mauritius, foreigners are offered excellent tax breaks, don’t have to pay duties on the importation of household and personal belongings and offered permanent residency. Contact us today to buy an overseas property.