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Tax Benefits

Benefits of acquiring a RES property.

  • More affordable than an IRS property.
  • If the price of the property acquired is USD 500 000, it enables the owner to get de facto permanent residence in Mauritius for him and his dependents.
  • Banks in Mauritius may partly finance acquisition.
  • A RES includes commercial facilities and leisure amenities.
  • The RES with its day-to-day management services such as security, maintenance, gardening, solid waste disposal and household services taken care of by a body corporate, it ensures ongoing safeguarding of the property.
  • The acquisition of a freehold property.
  • The delivery of a residence permit for a property purchase of at least  USD 500,000.
  • The VEFA contract is a mode of acquisition strictly governed by law. The French Civil Code is applicable in Mauritius for any property purchased.
  • Upon signing the contract and before completion, the purchaser becomes the owner of the land and of the construction in progress.
  • Opportunities to sell on to foreigners or local client in the desired currency.

Benefits of acquiring a SCS property

  • Income tax for a period of 8 years from the issue of the SCS Certificate provided that the income is derived from an activity pertaining to the development and sale, rental or management of immovable property other than an activity in respect of the supply of goods and services.
  • Land transfer tax and registration duty on transfer of land into the Smart City Company for the development of the Smart City project, provided that the transferor holds shares, in the Smart City Company, equivalent to the value of the land transferred. Note: In case where the transferor holds shares in the Smart City Company, the value of which is less than the value of the immovable property transferred, the land transfer tax and registration duty is levied on the difference between the value of the immovable property transferred and value of shares held by transferor in the Smart City Company.
  • Land transfer tax and registration duty on the transfer of land from a Smart City Company to a Special Purpose Vehicle (SPV) set up to develop a component of the smart city project, provided that the Smart City Company holds shares in the SPV, equivalent to at least the value of land transferred.
  • Land conversion tax in respect of the land earmarked for the development of non-residential components (office and business parks, ICT and innovation clusters, tourist, leisure and entertainment facilities including hotels and golf courses, renewable energy and green initiatives);
  • Valued added tax in respect of buildings and capital goods.
  • Customs duty on the import or purchase of any dutiable goods, other than furniture, to be used in the infrastructure works and construction of buildings under the smart city scheme.
  • “Morcellement” tax for the subdivision of land.
  • A non-citizen having held a residence permit for a continuous period of 2 years, and having invested over USD 5 million or its equivalent in Mauritius, is eligible to apply for registration/naturalisation as a citizen of Mauritius.

Benefits of acquiring an IRS property.

  • Enables the owner to get de facto permanent residence in Mauritius for him and his dependents.
  • Due to their exclusivity, there is good potential for investors to benefit from Capital Gains.
  • Properties can be purchased off plan.
  • With an hotel adjacent and possible rental agreements, the property will generate constant income.
  • Banks in Mauritius are prepared to part finance acquisition of property (conditions apply).
  • A body corporate ensure proper maintenance of resort.

Benefits of acquiring a PDS property.

  • A residence permit under the Immigration Act is granted to the non-citizen upon acquisition of a residential property not less than USD 500,000.
  • The owner of a residential property may rent his/her property through the PDS Company holding the PDS Certificate or a service provider appointed by the PDS Company to provide property management services.
  • The owner of a residential property is allowed to resell his/her property at no minimum price.
  • A residential property under the PDS may be sold either on the basis of a plan, during the construction phase or when the construction is completed.
  • Where the acquisition of an immovable property is made on the basis of a plan or during the construction phase, the contract shall be governed by the provisions of a “vente à terme” or “vente en l’état futur d’achèvement (VEFA)”, as the case may be, in accordance with the provisions of articles 1601-1 to 1601-45 of the Code Civil Mauricien.

Tax Benefits

Investing in Mauritius is more attractive than many other places because of a very light tax regime. There are many tax benefits in Mauritius such as:

  • Income tax of not more than 15%.
  • No capital gains tax.
  • No inheritance tax.
  • No property or land tax.
  • No SCSC.
  • No taxation on dividends.
  • No taxes on wealth.
  • A non-double taxation agreement with 37 countries, including France and the UK.

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