Mauritius offers a host of advantages that have not gone unnoticed by investors. With four offices on the island (Grand Baie, Tamarin, Pointe d’Esny and Floréal), BARNES, the expert in high-end realty, is not short of investment opportunities.
An upmarket financial centre, Mauritius encompasses a series of criteria that attract investors. Beyond its dynamic tourism industry, Mauritius is in a strategic geographic location (an 11-hour flight from the major European capitals), a blessing for foreign nationals.
Its democratic stability consolidates its leading position in the Indian Ocean/Africa region As demonstrated by its ranking in the 2019 “Ease of Doing Business” index published by the World Bank, which places it top for the African continent and 20th worldwide. Furthermore, the numerous double taxation agreements concluded with various countries confirms the island’s desire to attract international investors.
“Dedicated investment schemes, combined with residency rights and residence permits attract different categories of expatriates and have allowed Mauritius to become a key destination for expatriates in search of new horizons”, explains Outi de Falbaire, Director of BARNES Mauritius.
In less than fifteen years – that is between the entry into force of the alternative regime for non-Mauritian buyers in 2006, and 2019 –, the Economic Development Board (EDB), has recorded 2,737 transactions totalling €1.84bn.
“The Mauritian tax system is one of the most advantageous worldwide”, Outi de Falbaire adds. There is no property or inheritance tax (nor residence tax or social security contribution). Local and foreign investors, as well as Mauritians themselves, all benefit from these advantages. The real estate market in Mauritius is still young, and therefore represents huge investment potential for buyers”. With the added bonus of no tax on personal real estate assets nor taxes on dividends, capital gains and inheritance. Lastly, the free movement of cash flows (no exchange controls) and the free repatriation of profits, dividends and capital, make Mauritius a haven for all investors.
The international clientèle in Mauritius is largely French, Swiss and Belgian, followed by South Africans and Brits. This clientèle is looking for premium properties and is enchanted by the island’s idyllic environment. “New arrivals on the island are particularly demanding and want properties that allow them to reconnect with nature while also offering high-end amenities”, explains Outi de Falbaire.
© Mysweet'Immo - published on Barnes International Realty on 18/12/2019
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