Mauritius is a beautiful island nation located in Indian Ocean. A part of the African continent, Mauritius is known for its natural beauty, sandy beaches, and turquoise blue waters. Mauritius has emerged as a great destination for investors, having achieved rapid growth and development in recent times. In a bid to boost FDI, the government of Mauritius introduced the Integrated Resort Scheme in 2002 that allowed foreigners to buy luxury villas up to 1.25 acres with Mauritian residency grated to those investing more than $500000. Since then more schemes to allow foreigners to purchase, Property Development Scheme (PDS), Real Estate Scheme (RES) and “Ground plus two” scheme.
Reasons to invest in Mauritius
- Buying property in Mauritius is an alluring proposition for investors because of a favourable taxation system.
- Mauritius enjoys great political stability and a strategic location between Asia and Africa.
- It has an economy based upon free trade system which means it is very competitive but highly rewarding.
- Investors here are given guarantee for protection of their assets. They also avoid paying double taxes as Mauritius has signed double taxation treaties with many countries.
- Finally, Mauritius offers a highly qualified workforce to investors.
Benefits of investing in Mauritius real estate
A popular question: Living in Mauritius pros and cons? It is a tropical paradise with wonderful weather conditions all-round the year. Investors from Europe and America are attracted to the warm climate of Mauritius as well as its booming real estate market. Being close to both Asia and Africa, an investor can have breakfast in Africa and dinner in Asia by living in Mauritius (not quite, but close). In just a few decades, Mauritius has emerged as a sophisticated service economy from being a sugarcane dependent economy. Mauritius has a literacy rate of 85% and per capita GDP of more than $10000 at present. On the negative list, there are a few things to adjust to, it is a warm tropical island and the humidity can be challenging to adjust to, likewise the tropical nature of it means there are lots of mosquitos.
Choose the developer and the location carefully
The real estate scheme announced by the government in 2007 proved to be the real turning point for the economy of the country. It allowed foreigners to buy properties in Mauritius freely with no minimum selling price. There is great demand for property to rent in Mauritius with millions of tourists arriving to enjoy this tropical paradise every year. If you want better returns on investment, you should choose the location of the property in Mauritius very carefully. Do your research to find a reliable developer with a proven track record before buying a property in Mauritius. You will need to acquire permission for buying a property in Mauritius. You also need to open a bank account in the country. Many investors looking to invest start by renting property in Mauritius to get a feel for the area before committing to a specific region or house.