Archive for the ‘Mauritius’ Category

Mauritius ranked among the World’s Top 10 best Places to Live

14th December, 2010

Mauritius

Following a reader survey, The Daily Telegraph has published the results for The world’s best places to live: exotic locations for home owners. Listing the most highly recommended locations in the world to live, as voted by its readers, Mauritius ranked as the 10th most popular choice.

“Great climate, safe environment, friendly people, amazing cultural mix, sound economy, fantastic scenery and beautiful ocean,” commented one enthusiastic contributor about the island. “A little piece of paradise.”

With a well-established and progressive infrastructure, excellent amenities and growing status as a world-class financial centre, Mauritius ranks also very high in leading global business and lifestyle polls.

Mauritius has become a fine example of stability in the developing world, with an economy that has diversified from sugar production to tourism, textiles and agriculture.

Mauritius property market has been opened up to foreigners by the Government instigating controlled property development schemes. Non-nationals are allowed to acquire residential property in Mauritius under a special scheme known as the Integrated Resort Scheme (IRS). Properties under the IRS are offered for sale at a minimum legal price of US $ 500,000 and the buyer of an IRS property is automatically granted a residence permit.

Along with a fiscally friendly regime – no capital gains or inheritance taxes – Mauritius makes an enticing place to both live and retire to.

Explore IRS villas for sale in Mauritius at International Luxury Real Estate – ilre.com

View IRS property in Mauritius from Signature Residences Worldwide

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Mauritius offers sun, sea and a favourable tax system

11th October, 2009

Mauritius beach

Holiday makers have been heading to the idyllic Indian Ocean island of Mauritius for decades but a new kind of visitors is emerging – foreign investors. The attraction is not only the clear blue waters, the sun and the perfect sandy beaches but the island’s status as an attractive tax haven.

Mauritius is home to over 9,000 offshore entities and the island has started to attract property buyers, keen to have their very own piece of paradise. Provided a minimum investment of US$500,000, foreign buyers of luxury real estate are automatically granted residency.

In 2006, the Mauritian government launched the Integrated Resort Scheme (IRS) which enabled foreigners to buy top-end leisure and luxury properties. Developers under the IRS scheme are bound by a series of strict regulations with funding and bank guarantees in place.

In addition to friendly locals and glorious weather, there are many advantages for the foreign buyer: English is the official language, there is good airlift, the islands political and economic stability, a market that is not tied to the Euro or the US dollar, and there is no capital gains, wealth or inheritance tax.

The future for the Mauritian property market looks positive. The regulations for IRS developers ensure that the island is not subjected to overdevelopment and that the projects that are underway are high-quality.

Mauritius offers so much and it is said it will become the Hong Kong of Africa in the near future. Overall it is a very strong place to invest.

Explore Mauritius property for sale at International Luxury Real Estate.

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Foreign property ownership in Mauritius made easy

17th July, 2008

Mauritius

Strict regulations once made it more or less impossible for foreigner to own properties in Mauritius, but things are changing. Buying a Mauritius property as a foreigner was simply not possible until 2002 when the government introduced the Integrated Resort Scheme (IRS). As a result, anyone prepared to invest US$500,000 in a property can start house hunting in certain areas of the island and thereby automatically qualify for resident status.

Sugar and textiles are not as popular as they once were and the Mauritian government had to look elsewhere for inward investment. A focus on tourism has proved successful along with the island’s burgeoning financial and IT industries and the plan is to welcome a carefully controlled number of property buyers to own a home in Mauritius, the ‘pearl of the Indian Ocean’.

Rama Sithanen, Deputy Prime Minister and Finance Minister understands the benefits or preserving the island’s exclusivity and claims that the government will allow only 2,800 foreigners to buy on Mauritius in the next decade.

Mauritius is a truly multi-racial society, all perfectly blended to create a harmonious nation. Colourful Tamil temples sit easily next to gleaming white mosques in the small villages and the Mauritians have a well-deserved gentle and hospitable reputation.

The tourist industry in Mauritius has always been based on low impact, high spend, attracting visitors from Europe, South African and Asia. Mauritius is a safe, democratic country with a strong legal framework and no tedious bureaucracy. The cost of living is good and the quality of life, with golf, natural beauty and sunshine, is excellent. It is not difficult to see Mauritius is a becoming a very popular destination.

View properties for sale on Mauritius at International Luxury Real Estate.

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