INVEST IN MAURITIUS
For all disposals and acquisitions, all financial transactions are carried out at the notary.
The agency helps you to gather all the necessary documents, accompanies you and makes a follow up of your documents till the signature of the notarial acts.
For investing in a property in Mauritius, you need to fill all the following requirements or conditions:
- Be of Mauritian nationality
- Be married with a Mauritian under the system of community and goods
- To be a Mauritian resident
- Buy under the IRS / RES / PDS scheme
To obtain a resident permit, you need to meet one the following conditions or requirements:
- Purchase an IRS/RES project for an amount up to 500,000$
- Invest and register a society/company (investors, professionals and entrepreneur)
- Spending your retirement in Mauritius.
The property bought under the IRS or RES regime acquires a status which allows his owner to resell it to a client of Mauritian nationality or foreigner. This status is related to the good and is passed from one owner to another during the eventual resales
Occupation Permit
A foreigner has the right to stay in Mauritius 6 months in a year as tourists and 3 months for business affairs.
Occupation permit allows a foreigner wishing to create an economic activity in Mauritius, to reside or to acquire a property, and work. It serves both as a working and resident permit.
You will have the choice between 3 types of permit :
- The investor’s license
- Professional permit
- The contractor’s license.
Occupation permit for a duration of three years is granted by the Government of Mauritius according to the following eligibility criteria:
- Investor: the commercial activity must generate an annual turnover higher than 3 million rupees for an initial investment of 100,000$
- Professional: he must have a work permit with a minimum wage of Rs 30,000
- Entrepreneur: revenue from the commercial activity must generate a revenue higher than Rs 600,000, with an initial investment of 35,000$
Beyond 3 years, a permanent resident permit of 10 years renewable can be granted after studying the documents by the Mauritian authorities.
In case of acquisition of a real estate through a real estate company (SCI) with several partners, only one of the shareholders will obtain the resident title.
When a foreigner obtains a resident permit in Mauritius, his wife and his children less than 18 years old can also obtain the resident permit.
Taking his / her retirement in Mauritius
You must be 50 years old or older and justify to the Mauritian authorities, a minimum amount of 40,000$ annual income to provide for your expenses.
You will then be granted a resident permit allowing you to stay in Mauritius and therefore you are exempted from taxation, and then you can opt to purchase a property according to conditions set for foreigners.
You can also rent a house or an apartment for an indefinite period.
Company set up and taxation
The companies act of Mauritius allows the set up or creation of a company with 100 % of foreign capital. There is no restriction on generated profits, dividends and capital.
In case of option for residence tax, which implies that you are staying more than 183 days in Mauritius, you benefit from the conditions applicable for any Mauritian taxpayer:
Single rate of income tax at 15%
Taxes on local companies at 15%
Value Added Tax at 15%
No tax on dividends and capital gain tax
No direct right of succession.
No taxes on wealth
More information on the Board of Investment website: http://www.investmauritius.com/ BOIPortal_fr/
Many countries have concluded a tax treaty with Mauritius to avoid double taxation and thus allowing foreigners and companies residing in these countries to pay tax in Mauritius from their income.
Thereby, foreign income. from real estate located in Mauritius are imposed in Mauritius at the rate of 15%.
When buying a property in a real estate project under the IRS or RES scheme for an amount for an extra amount of 500,000$, a foreigner may claim to obtain a permanent resident permit. The resident title will give him the right to exempt from tax, when he will stay more than 183 days in Mauritius.