A large number of foreigners have become residential property owners in Mauritius since a long time now. The increasing success encountered by the Mauritian real estate sector with them is due to several factors. Why do they choose Mauritius as their place of residence? Read on to find out.
The fiscal benefits and the real estate projects in Mauritius
Many of us would like to reduce the amount of tax we pay every year. Investing in a property in Mauritius allows this dream to become reality. An individual owning real estate asset in another country would have to pay both local tax and tax to the country in which his/her property is located. However, according to the double taxation law signed between Mauritius and some 40 countries, a French for instance, would not have to pay any wealth tax.
Moreover, a mere 15% of tax is levied on revenue and profits gained from companies located abroad. Foreigners also revel in the absence of duty on dividends and plus-values and inheritance tax.
The real estate projects devised by the Mauritian government offer another key advantage offered to foreigners. Indeed, the latter can obtain permanent residence permits when the purchase amount of the property exceeds 500,000 USD.
High-class property in Mauritius
Penthouses, apartments and villas under the real estate projects – the Property Development Scheme, the Smart City project and the Ground +2 Apartments – boast modern and luxurious design and furnishing.
They are usually located in amazing regions offering sea and mountain views. Owning such a residence also grants access to activities such as swimming, golfing, spa and fishing. Other infrastructures usually found nearby the residential area include clinics and supermarkets. Housekeeping and security services are provided as well.
The purchase of apartments and villas under the Vente en l’État Futur d’Achèvement (VEFA) not only guarantees that the construction of the latter will be fully completed, but also allows the customisation of furnishing and painting to one’s liking.
The economic, social and political climate of the island
The economic climate of Mauritius is as sunny as its weather, with many boosting sectors. Therefore, settling down in the country has become a viable option in the long run for foreigners. The absence of social and political tension makes Mauritius one of the safest and most enjoyable places to live in. the blend of modernity and traditionalism that is deeply rooted in its culture makes it stand out from other countries.
Several sets of beliefs coexist peacefully and respectfully on the island. This, for instance, is a fact that should be taken into consideration especially in the case of a child. Growing up in a multicultural environment would have a greatly positive impact on his/her upbringing.
Investing in the real estate in Mauritius equates to investing in one’s peace of mind, financial security as well as one’s physical and social well-being. The fiscal framework, the schemes supporting foreign investment, the standard of property being advertised and sold to foreigners, in addition to the economic, social and political situation of the country are definitely noteworthy aspects that make Mauritius unique as a permanent/semi-permanent residence.
For more information on potential property purchase, contact DECORDIER IMMOBILIER.