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| MAURITIUS / GLOBAL BUSINESS |
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TRI-PRO ADMINISTRATORS LTD
Level 2
Alexander House,
35,
Cybercity - Ebène,
Republic of Mauritius.
Tel: (230) 464-0889/ 464-9088
Fax: (230) 467-8858
Email: services@tri-pro.mu |
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| OUR SERVICES - REAL ESTATE |
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| The Integrated Resort Scheme (‘‘IRS’’) |
The IRS is a program designed to facilitate the acquisition of residential property by non-citizens in Mauritius. The program enables high net-worth individuals to acquire luxury villas, apartments, penthouses or similar properties of international standing with high-class amenities and facilities including golf course, marina, individual swimming pool, nautical and other sport facilities and health centers within the boundaries of the integrated resort area approved by the Board of Investment of Mauritius. An IRS provides for day to day management such as security, maintenance and other household services and for a social contribution in terms of social amenities, community development and other facilities for the benefit of the neighbourhood where the IRS is implemented.
Under the IRS, a project must be developed on freehold land exceeding 10 hectares. Units sell at prices starting from US$500,000 including land.
A non-citizen who intends to acquire immovable property under the scheme may make an application for the status of resident in respect of himself, his spouse and dependents. Where such an application is approved, the permit is valid as long as the acquirer holds the property. |
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| The Real Estate Scheme (‘‘RES’’) |
The RES is an extension of the IRS.
Under the RES, small landowners are allowed to develop and sell any mix of residences (villas, apartments, penthouses) to non-citizens. The development must include commercial facilities and leisure amenities as well as day to day management services such as security, maintenance, gardening and other household services.
A project under the RES is developed on freehold land of an extent of at least 1 ‘’arpent’’ but not exceeding 10 hectares (23.69 ‘‘arpents’’). The extent of land that may be used for the development of a single residential property under the RES must not exceed 1.25 ‘’arpents’’. A plot of land located on the edge or outside settlement boundaries can be used for an RES provided the policy guidelines of the relevant outline scheme are respected.
There is no minimum amount of investment in the acquisition of a residential property under the RES. However, a non citizen may apply for a residence permit only if the value of acquisition of a unit exceeds US$500,000. The residence permit is valid as long as the acquirer owns the property. |
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| The Invest-Hotel Scheme (‘‘IHS’’) |
he Invest-Hotel Scheme (IHS) allows hotel developers to finance the development of a hotel project by allowing them to sell villas, suites, rooms or other components that form part of the hotel to individual buyers.
The Invest-Hotel Scheme provides:
1. for the development of a hotel on either freehold or leasehold land of more than 1 hectare
where units, villas, suites or other parts of the hotel can be sold;
2. that the buyer of a unit enters into a lease agreement by which the property is leased back to
the seller; and
3. that the unit leased to the seller may be used and occupied by the unit owner or any person
on his behalf for a total of not more than 45 days in any period of 12 months. |
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