First of all some interesting facts:
– Landmass: 1,815 km2
– Population: 1.2 million
– French and English speaking country
– TripAdvisor travelers’ 8th favorite island
– 2 to 4 hours time difference with Europe
– Purchasers can apply for permanent residence
– Full ownership right and property deeds in accordance with local legislation
– No capital gain tax and no succession duties (subject to certain conditions)
– Flat rate income and corporate tax – 15%
– Mauritius rank 28th by The World Bank in 2015 for easy of doing business
The Property Development Scheme (PDS) is a program designed to facilitate the acquisition of residential property by non-citizens in Mauritius.
PDS allow development and sales of luxurious residential units to foreigners.
The PDS is one of the several amendments made to the PDS after the 2016/2017 budget. Another amendment to the PDS scheme is that henceforth, developers are not obliged to sell at least 25 percent of residential units to Mauritian citizens or members of the Mauritian Diaspora. All units can be acquired by foreigners willing to invest in Mauritius.
The Property Development Scheme is basically an integrated project with a social dimension to the benefit of the neighboring Mauritian community. The projects are subject to strict controls regarding respect for the environment and must focus on the ecological aspect.
Under the IRS the minimum selling price of a villa is set at USD 500,000. It differs with the RES concept where there is no minimum investment value, just like the PDS regime.
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