Some countries such as Portugal and Mauritius have become the preferred destinations of European investors and pensioners. If the fact that they are considered tax havens are the first thing that comes to mind, you must know nevertheless know that the benefits are real and multiple when talking about the real estate sector in Mauritius.
Traveling to Mauritius
The practice is common but thanks to some reforms of the government of Mauritius, it becomes an ideal solution for pensioners and professionals who want to start a new business on the Island. By observing the patterns of real estate acquisitions, it could be said that high-end villas are intended for wealthy buyers. But in reality, it will be enough of a few hundreds of thousands of euros to invest in real estate in Mauritius. Local real estate agencies can testify to this reality. The number of foreign residents in the country has increased markedly in recent years. Currently, this figure is estimated to be more than 10 thousand including investors. Mauritian government authorities are still planning to expand the sector by introducing other policies to attract foreigners.
Tax and contextual assets
Cheaper living environment, the island of paradise has the potential to attract many tourists. But since the Mauritian republic wants to encourage foreign direct investment, it has had to improve its fiscal policy. Foreigners who own real estate in Mauritius will have no tax on heritage. it has been decided that a fixed tax rate of 15% will be applied. For other tax expenditures, purchasers will benefit from an exemption on property tax, home tax or capital gains tax. Of course, all these benefits will be more accessible with different ownership statuses (RES, IRS, PDS). In some cases, such as when the amount of residence reaches a certain level, the buyer automatically becomes a permanent resident (500,000 USD). It is also possible to have a good return on your real estate investment by renting or reselling it at a more attractive price. Profits (capital gains) can be repatriated without any difficulty.
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The rental is an interesting opportunity for holidaymakers, investors and expatriates during their stay in Mauritius. Luxurious villas, luxury apartments as well as stunning waterfront penthouses are available to those wishing to embark on an investment in Mauritius.
The rental of fully furnished houses or apartments are especially suitable for individuals and expatriates visiting Mauritius. The monthly rent for this type of housing varies between Rs.30,000 and Rs. 85,000 or between 1000 and 2,500 USD. Some investors then embark on the more advantageous relocation of these apartments through a renting pool. Renting Pool is managed by a management company often in partnership with a trustee for maintenance and service. In addition, real estate developers also offer a rental service for housing units when they are unoccupied in a rental pool for a fee and trustee fees. Despite the rarity of the beachfront villas on the Mauritius investment market, their rental prices are offered at prohibitive prices. The units that are available rent between Rs 40,000 and Rs 150,000 per month between 1,200 and 4,200 dollars, per day depending on the number of days. Given the gain in importance for this destination, more and more intermediaries are directing tourists to villas, camps and apartments.
There is currently a decentralization of office space from Port Louis to Ebene, Highlands and Moka. The choice of investors is mainly oriented towards offices all equipped with Internet access and where they can have parking facilities. However, in Port-Louis and Ebène, with the growing number of buildings, it becomes difficult to have access to car parks. This situation leads to a decrease in rents for office space in these regions. The demand for office rental is more important in places like Quatre Bornes or Moka where they can find easier parking facilities. The conversion of houses into office space is also an alternative for those wishing to embark on an investment in Mauritius. Note that commercial spaces are rented monthly per square foot depending on the location, condition and area of the building. In commercial spaces such as the Bagatelle Shopping Mall, spaces are rented at an expensive rates.
Dream escapes properties in Mauritius
It is true that for this past ten years Mauritius has become the new Eldorado of retirees, lovers of the sea, beaches and sun that come from overseas to enjoy the sun all year round away from the cold winter. After years of hard work, it is time to rest and why not start a new life abroad, a simple thing that can prove to be complicated for most of people who have retired. With a gloomy economic situation and insecurity that continues to grow many are those who opt for a retirement abroad, a preferential postcard destination in a beautiful beachfront villa.
The preferred destinations for retirees are Thailand, the Dominican Republic, Guadeloupe, and of course Mauritius, small paradisiac islands at the other end of the world where it is good to live and where all the foreigners in search of ” A new land of adoption are welcome.
The main assets of its paradisiacal destinations are a superior quality of life at an affordable cost, real estate adapted to the needs of retirees offering leisure, a peaceful life where all the chores are taken care of by project promoters. Real estate investments such as maintaining your real estate, finding the home staff and making sure you are safe. Mauritius offers a sumptuous setting where you will find everything; Seaside villas, luxury apartments and colonial houses at the foot of a majestic mountain. For your leisure, you will have a wide choice of entertainment like golf or to visit the lagoons of the Indian Ocean on a luxurious catamaran among others and not count the hinterland that offers nature Abundant as far as the eye can see.
Mauritius is also known for tax advantages and good governance, which means economic stability since independence, a small island that enjoys a good reputation as on of the top destinations in the world for retirees and doing business.
There are many advantages;
No inheritance tax.
A very attractive cost of living
In Mauritius, you will be taxed at 15% and the cost of living is similar to that of Portugal nevertheless the cost per square meter of real estate remains cheaper than that of Portugal.