Editorial Dear Readers, After one year of absence due to a business trip in the UAE in 2014, Real Estate Mauritius is back with The Property Investment Guide.
issue No.5 Advertising with Real Estate Mauritius (Web & Print) gives you the digital marketing exposure and social media reach your business requires. Many businesses and real estate agents in Mauritius are yet to be online and benefit from its full potential.
In this 5th issue, you will discover The Property Development Scheme (PDS).
Joining our online network will give your business this competitive advantage. We have created a portal whereby all property owners and estate agents can join to sell or rent their properties. Simply register and pay directly online. Rs250/ month for 1 listing or Rs3500/ year for unlimited listings.
One of the measures announced in the 2015/2016 budget was the restructuring of the Integrated Resort Scheme (IRS) and Real Estate Scheme (RES). As a result, the Investment Promotion Act has been amended through the Finance (Miscellaneous Provisions) Act 2015.
I would like to take the opportunity to thank our advertisers: Cuisine & Bains Ltee, Quality Furniture, Dragon Electronics, Iliad Property Specialist, Quickbooks.Mu, PriceGuru.Mu, Floor Safe, Stretchtek, Way Smart System Ltd. , Twisto Royal, AdValorem, Mademoiselle and Designer Avenue.
Our Focus On - Smart Cities Scheme (SCS) is an article written by Tax Advisor & Accountant Mr Shorab Cadersaid from Quickbooks.mu and information source from the BOI - www. investmauritius.com. The Property Development Scheme (PDS) was launched this year by the Mauritius Government to further strengthen the development of the eight Smart Cities as an integrated project with social dimensions.
A big thank you to CubeDesign.mu for their contribution in the making of this 5th issue, as well as the great job from our outdoor advertising campaign.
Our achievements to date! Our real estate marketing strength is above all our online positioning and presence on all the main global search engines. Our Real Estate Portal has been ranking on the very 1st position of all the 4 top search engines on the 1st page of Google. com, Yahoo.com, Bing.com and Yandex.ru for the keywords: “Real Estate Mauritius & Mauritius Real Estate”. Did you know? We are also on the very 1st page of Issuu.com for the global keyword “Real Estate” publications are on the 1st page result of the largest online magazine publisher and reader. This is great news for local property promoters seeking to sell their properties to foreign investors around the World. I would recommend that Travel Agents, TO, Hotels, Airlines that are targeting visitors to Mauritius to join our online network.
Real Estate Mauritius Rent - Buy - Holiday Rentals
Thank you for reading our guide and to visit our Real Estate Portal. For all your marketing needs our team and partners remain at your disposal. Best regards, Sebastien Staub www.real-estate-mauritius.com A product of Staub Marketing Ltd • Director : Sebastien Staub • Design : Cube Design ltd (www.cubedesign.mu) & Web development : Mataora (www.mataora.com) • Real Estate Mauritius ( Address : Hermitage, Ave King George, Floreal, Phone no: (230) 696 09 68 | 57 94 64 37, Email: info@real-estate-mauritius.com, Website: www.real-estate.mauritius.com ) • Printed by T-Printers. Ltd (230) 233 25 00 • Disclaimer • All information and advice provided within the Real Estate Mauritius (REM) website, Property Investment Guide (PIG) is provided for general information purposes only and does not constitute a legal contract between REM and any person or entity. • If you rely on the information on this Site you are responsible for ensuring by direct contact with REM, its accuracy, currency or completeness. • The REM web site and PIG are subject to change without prior notice. Although every reasonable effort is made to present current and accurate information, REM makes no guarantees of any kind and accepts no responsibilities for errors within the content. • Any links to external Web sites or email addresses provided within the REM web site and PIG are provided as a courtesy. They should not be construed as an endorsement by REM web site and PIG of the content or views of these sites, nor do they imply a relationship with the owner of that link. •
About Mauritius Nestled in the heart of the Indian Ocean, south of Africa and east of Madagascar, this dreamy isle sits ideally between the Tropic of Capricorn and the equator, providing a perfect tropical climate all year round. Mauritius is the main island, from which the country derives its name. Of volcanic origin, it’s almost entirely surrounded by sheltering coral reefs. With hundreds of amazing passes with perfect waves, lefts and rights, short and long barrels and deep to hollow tubes, it’s a
surfer’s paradise and with numerous, vast lagoons to boot, there’s great sailing, diving and fishing diversity, too. There‘s no shortage of top spots, swells, lagoons or wind, but there has been a distinct lack of information about all these things
you-drop at Flacq‘s bustling open-air market, a vibrant and colorful marketplace full of fresh local products at great value. The island’s home to countless bars and restaurants. Check out the iconic Banana Bar in Grand Bay, which hosts both local and international artists, from jazz to soul. In the mood for dancing? The numerous nightclubs offer a great atmosphere where you can boogie the night away to the sounds of House, Dance and RnB music played by top DJs.
- until now! This comprehensive guide enables you to experience the range of stunning spots on our beautiful island for yourself. Take the swells and gentle sea breezes, add the impressive Indian Ocean climate, great coral reefs, large lagoons and a handful of quality breaks and you have the perfect surfing, windsurfing and kitesurfing destination. The Unique Mauritian Culture is a blend of Indian, Chinese and Creole sweetness and spices with an influencing European History, in other words amazing local cuisine. Get a taste for the magical mélange of influences with a warm Dol Pourie, whether it’s on a street corner in Port Louis, from a delicious hotel buffet or à la carte at a well-reputed table d‘hôte in Chamarel. You‘ll find specialties everywhere you go, all worth a try. Shop-til-
The island boasts some of the world‘s most beautiful private and public beaches, fringed by swaying palms and lapped by crystalclear turquoise waters. Combine that with the magnificent, exotic sunsets and tropical vegetation of the various game reserves, national parks, private hunting estates and colonial houses such as St Aubin and Eureka where honeymooners can make their dreams come true and you‘ve got a winning formula. Golf fan? Mauritius is fast earning a reputation for being home to some of the world‘s most amazing golf courses. Its fantastic architectural designs by big names such as Ernie Els and Bernhand Langer offer avid golfers a challenging game. But whatever your handicap, you‘ll find somewhere to suit your needs, whether you‘re aiming for a hole in one at one of the top-class hotels or dodging the water hazards on the new Ile Aux Cerfs, you‘ll love putting your way through the stunning settings that are simply unbeatable. The Mauritius Open PGA attracts international and local professionals and many a celebrity has been spotted practicing their swing on the island‘s championship courses. Grand Bay is the place to head for catamaran cruises and sailing boats. Blue Bay and Black River offer amazing trips to nearby islands such as Coin De Mire, Ile Plate, Ile au Gabriel and Ile aux Bennitier. Famous spots for snorkeling and scuba diving include the famous Silver Star wreck and the Cathedral underwater cave. Mauritius and Rodrigues offer some of the world‘s best deep-sea fishing with
many experienced skippers and fishing boat owners, such as Tamarin local fishing legend, Jerome Moonsamy, aka Mr. Bull. Deep sea fishing is possible off the East, North and West coasts and the best operators are based in Black River and Trou aux Biches. The best months are the summer months (October to May.) Mr. Dominique Theveneau offers fly-fishing and casting outings on reefs for individuals or small groups. Not forgetting the Mauritius Aquarium, home to 100‘s of tropical aquatic life and fish. If the sea doesn‘t float your boat, there are numerous land-based pursuits to participate in. Choose from inland adventure tours, sightseeing in four-wheeled drives, on mountain bikes or hiking (Yann De Maroussem from Yanaventures is a great hiking enthusiast who knows his way around the South), along with a wealth of other activities. The adventurous among you should head to Yemen Nature Park for great quad bike riding and abseiling close to the 3 Mamelles Mountains. The game reserve of Domaine Du Chasseur offers fabulous panoramic views and sunsets, while the magnificent Black River Gorges National Park is home to wonderful wildlife, where bird-lovers can spy protected
bird species such as the pink pigeon, kestrels and rare forest trees. Photographers will love snapping away at the Vanilla Reserve des Mascareignes, home to Nile Crocodiles.
If gardening‘s your thing, the Pamplemousse Garden is one of the oldest tropical gardens in the world, bursting with exotic flowers and tropical trees. If architecture‘s your kick,
you won‘t be disappointed by the 1830 Eureka House or St Aubin Colonial House, The Ruins of Ballaclava or Martello Tower, illustrating intriguing history from early settlers. History buffs shouldn‘t miss the modern
“the country has attracted considerable foreign investment and has earned one of Africa’s highest per capita incomes” sugarcane exhibition of L‘Aventure Du Sucre and the Salt Pans of Tamarin, for fascinating facts about the slavery trade. Animal lovers can spend the day with wild stags, tigers and monkeys at Casela Bird Park, home to 140 bird species from five other continents. Set in 25 hectares of tropical vegetation, consisting of a wide variety of palm trees, bamboos, eucalyptus and colorful exotic flowers such as the hibiscus and orchids, you‘ll enjoy a gorgeously-perfumed day.
So, where do we all get this amazing history and mixed heritage from? Well, it all started back in the 10th century when the Arab navigators, already familiar with Mauritius, gave
it the name of Dina Arobi but were not interested in settling. It was only rediscovered by the Portuguese in 1505, followed by the Dutch, who were believed to have caused the extinction of the famous Dodo which is now the emblem of Mauritius. Then came the French, who lost out to the British, before independence was attained in 1968. Since then, Mauritius has enjoyed a stable democracy with regular free elections (every five years). Along with a positive human rights record, the country has attracted considerable foreign investment and has earned one of Africa’s highest per capita incomes. Due to poor weather in the last couple of years, the declining sugar prices have slowed economic growth, leading to some protests over standards of living in the Creole community, but tourism, textile and offshore investments are the other major economic contributors and Mauritius is one of the few countries which has been resilient throughout the global recession.
Invest in Mauritius Email: info@real-estate-mauritius.com or Call us: +230 5794 6437
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Real Estate File What is the Integrated Resort Scheme (IRS)? The IRS is basically a project for the construction and sale of luxury villas to foreigners in an idyllic setting near the beautiful coastal region of Mauritius. The acquisition of a villa for residential purposes only by a foreigner under the Scheme will allow the foreigner and his family to reside in Mauritius as long as he holds the property. The Integrated Resort Scheme (IRS) provides: Villas sold under the scheme form part of a complex of luxury villas of international standard and high-class facilities and amenities such as: golf course, marina and individual swimming pool, nautical and other sport facilities, health and beauty centres, high class restaurants amongst others. Maintenance, waste disposal, gardening, security and other household services are also included. The extent of land in respect of each villa shall not exceed 1.25 arpents (0.5276 hectares). The villa can be acquired on the basis of a plan or during the construction phase.
What is Real Estate Scheme (RES)? Mauritius is renowned for his hospitality industry with some of the best resort hotels in the world. With this in mind government has attracted foreign investment (FDI) by the introduction of several regulations to allow foreigners to purchase real estate in Mauritius. The Real Estate Scheme (RES) provides: The RES, is a new scheme which has been introduced by the Government of Mauritius at beginning of December 2007 to allow the development of any mix of residences for sale mainly to non-citizens on freehold land of an extent of at least 1 arpent but not exceeding 10 hectares. The scheme must offer commercial and/or leisure amenities in addition to the residential component. Individual sites should not exceed 1.25 arpents. There is no minimum value to purchase in the RES scheme yet on property which exceeds USD 500000 the buyer will be granted residency status once his purchase is approved by the government.
What is Invest Hotel Scheme (IHS)? The 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 hotel to individual buyers. The Invest Hotel Scheme (IHS) provides: for the development of a hotel on either freehold or leasehold land of more than 1 hectare where unites, villas, suites or other parts of the hotel can be sold; that the buyers of a unit enters into a lease agreement by which the property is leased back to the seller; and 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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Building smart cities
Image source BOI What is a ‘smart city’? The smart-city concept is an ambitious economic development programme aimed at providing investors, nationals and foreigners to live in sustainable environment. The backbone of this model is innovation, technology and sustainability. Why is it a modern concept? The idea is to bring sustainable development thru investors. This will enhance living standards which, has become a must due to our degrading environment. Such developments will encompass a mix of commercial, leisure and residential uses; offices, light industrial, education, medical and tourism clusters; high technology and innovation cluster; infrastructure to service green-field sites with roads and inspiring landscaping; clean technology, waste reduction, efficient transport, energy savings, and many other attractive clusters. What incentives is the government providing? Investor holding a “SCS Certificate” is exempted from payment of Income
Tax for 8 Years, exempted from VAT on capital goods and duty on certain items. He is alsoexempted from LTT and Registration duty, Land Conversion Tax and Morcellement Tax. There are other tax incentives, plus foreign companies can acquire land exceeding 50 arpents under the Smart City Scheme. Non-citizens are allowed a residence permit to live in Mauritius and there is no restriction on rental or resale of residential units. There are other incentives which have not been discussed here and also investors need to be aware of all the conditions governing such scheme. How can the investor know if the scheme is suitable for him? Wellfirst, it is good thing for the investor to be aware of all the details of such scheme and then of course he has to consult his finance consultant and other real estate experts. “Mr S.A ShorabCadersaib , FCCA is a Chartered Certified Account helping businesses and Corporates working smarter, not harder. He believes in creating values, not just numbers..”
The Government of Mauritius will come up with a clear roadmap and guidelines for the development of projects under the Smart City concept. The eight smart cities will be self-sustained townships. A Smart City project must: • Be led by a main theme, for example logistics and airport/port related activities, ocean led development and knowledge • Be a large-scale mixed-use development project that is environment friendly, can generate its own resources in terms of energy and water, provide for stateof-the-art connectivity and smart modern transportation • Promote the live, work and play concept • Invest in dedicated space for the development of arts and culture.
The Property Development Scheme (PDS) About the scheme The Property Development Scheme (PDS) allows the development of a mix of residences and the programme is designed to facilitate the acquisition of residential property by non-citizens in Mauritius. The PDS is basically an integrated project with social dimensions for the benefit of the neighbouring community and allows for the development and sale of high standing residential units mainly to foreigners. At least 25% of the residential properties developed under PDS must be sold to Mauritians and member of the Mauritian Diaspora. The Property Development Scheme (PDS), which has replaced the IRS and RES, allows the development of a mix of residences for sale to noncitizens, citizens and members of the Mauritian Diaspora.
Integrated project with social dimensions The Property Development Scheme provides for the following: 1. Development of luxurious residential units on freehold land of an extent of at least 0.4220 hectare (1 arpent) but not exceeding 21.105 hectares (50 arpents). 2. High quality public spaces that helps promote social interaction and a sense of community 3. High-class leisure, commercial amenities and facilities intended to enhance the residential units. 4. Day-to-day management services to residents including security, maintenance, gardening, solid waste disposal and household services. 5. Social contribution in terms of social amenities, community development and other facilities for the benefit of the community.
Eligibility for acquisition of residential property: A non-citizen is eligible for a residence permit upon the purchase of a villa under the PDS scheme when he has invested more than USD 500,000 or its equivalent in any freely convertible foreign currency. The PDS is also a demarcation from the IRS and RES in as much as it does not differentiate between small and big landowners and harmonizes the registration duty to a single rate of 5% instead of USD 70,000 on registration of a deed under IRS and USD 25,000 under RES. Disclaimer: The following persons may acquire a residential property from a PDS Company: (a) a natural person, whether a citizen of Mauritius, a non-citizen or a member of the Mauritian Diaspora; (b) a company incorporated or registered under the Companies Act; (c) a sociĂŠtĂŠ, where its deed of formation is deposited with the Registrar of Companies; (d) a limited partnership under the Limited Partnerships Act; (e) a trust, where the trusteeship services are provided by a qualified trustee; or (f) Foundation under the Foundations Act. 7 Note: A qualified global business as defined under the Financial Services Act 2007 holding a Global Business Licence may acquire property under the PDS scheme.
Architecture and Beyon
L’architecture et bien plu
Rockview reveals a fresh blend of an abundance of natural sunl exquisite natural and modern elements, refreshing cross ventilation that where the colours, textures, space the most pleasant eco-friendl The extensive and stunning roofangles loungeunveil is idealthe Niché à ciel ouvert sur le toit terrasse, and sharp essence environment. to create cherishedofmemories underprivate the starsand sublime an elegant, creativeet surprenant lounge offre, sous in absolute bliss. The relaxing atmosphere dedeluxe détente et de Otherespace modern features architectural concept,and the étoiles, ultimateun bel deluxe setting giveindoor you everything you experience. need mondaine. water L’atmosphère relaxa heating,des LEDplus lighting outdoor living to entertain your guests in style and be the charmera vos distingués invités concealed central air par cond perfect host. Carefully conceived for your originalité. comfort, automatic garage doors, co the villas are set to be set worthy work areas and, *Optional up of a five star service and *Aménagement en to op hotel for its refined decoration is carved the development includes a lux from the highest quality raw materials for the delight and well-being and finishing touches. Through their residents of Rockview. large openings and two-storey high ceilings, the residences are exposed to
Open Sky Lounging
Lounge à ciel ouvert
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Non contractual Image / Image non contractuelle
Rockview est un subtil mélange d’élégance à l’architecture moderne et raffinée. Les couleurs, textures, l’espace et les angles révèlent l’essence d’un concept architectural créatif, singulier et élégant; l’expérience ultime de vie en plein air intérieure. Soigneusement imaginées pour votre confort, les villas Rockview, dignes d’un hôtel cinq étoiles, offrent une belle qualité de réalisation et de finition. Leurs baies vitrées et les doubles hauteurs sous-plafond gratifient aux
Sophisticated and Functional
Sophistiqué et fonctionnel
résidences une abondance nat lumière et de brise qui se faufil douceur, créant ainsi un environ écologique intérieur des plus ag
Les villas sont pourvues d’équi luxueux et modernes tels que eau solaire, systèmes d’éclaira climatisation centrale encastrée de garage automatiques et dédié aux travaux domestiq développement comprend au luxueuse salle de sport pour le le bien- être de ses résidents.
AT THE HEART OF MAURITIAN LIVING YOUR LUXURY VILLA AS FROM €628,100 *Turnkey
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Situated on the north coast of the island, the RES Rockview project offers a way out of your daily routine and a way into the charming sceneries and art of Mauritian living. Minutes away from Grand-Bay Concealed Central Air Conditioning Solar Water Heating Luxury Gym
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