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Mauritius

Mauritius

Mauritius

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An excellent

investment destination

Mauritius is the perfect home away from home for those families who are in search of a sophisticated seaside lifestyle experience. It is a preferred investment destination with property schemes designed for foreign buyers and a highly favourable tax regime that provides them with a great place to enjoy the benefits of tax residency and grow their wealth.

Harmonie Golf & Beach Estate has been introduced to the market under the PDS regime to enable foreigners who wish to settle or invest in Mauritius to purchase a villa. In return for this investment, they are entitled to apply for a Mauritian residence permit.

The PDS

The Property Development Scheme (PDS) was introduced in 2015 by the Government of Mauritius to encourage foreign investment in attractive property developments delivering a comprehensive lifestyle with related services and leisure activities.

PDS developments are accessible to Mauritian citizens and non-citizens alike. They allow any foreigner investing at least USD 375,000 (or the equivalent in any freely convertible foreign currency) to apply with the Economic Development Board of Mauritius for a residence permit for himself and his family.

The following categories are eligible to purchase a PDS villa:

  • individuals (Mauritian citizens, non-citizens or members of the Mauritian diaspora);
  • companies incorporated or registered under the Companies Act whose deed of formation is filed with the Registrar of Companies;
  • SCS;
  • trusts; and
  • foundations.
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Mauritius

Enjoy attractive tax benefits

Mauritius is known for offering significant tax incentives to foreign investors.

They are eligible for such benefits through the purchase of a property worth at least USD 375,000 in a qualifying scheme, which will entitle them to a Mauritian residence permit. They may also become tax residents in the country under certain conditions.

Enjoy attractive tax benefits Mauritius is known for offering significant tax incentives to foreign investors. The advantages for Mauritian residence permit holders include:

  • a flat 15% tax rate (income, corporate and VAT);
  • a 25% Solidarity Levy on income in excess of Rs 3 million up to 10% of total income;
  • Double Tax Avoidance Treaties (DTAA) with 46 countries;
  • free repatriation of profits, dividends and capital;
  • no tax at source on interest and dividends;
  • no capital gains tax;
  • no inheritance tax for direct descendants; and
  • custom duties exemption on equipment.

 

CONTACT OUR SALES TEAM TO LEARN MORE ABOUT TAX BENEFITS AVAILABLE IN MAURITIUS
Mauritius
Mauritius

FAQ

What is the climate in Black River?

The climate in Black River is pleasant all year round. The highest average temperature in the region is 29°C in February and the lowest is 23°C in August. The water temperature ranges between 24°C and 29°C, with a yearly average of 24.2°C. According to the Köppen-Geiger classification, the climate is of the Aw type (savannah with dry winter). An average rainfall of 1,021mm is recorded per year. comparatively, the average annual rainfall over the island has been 2,010 mm in the last ten years. The climate is greatly influenced by trade winds – regular winds in the intertropical regions – blowing from east to west.

What is the area of the Harmonie Golf & Beach Estate development?

The residential component of Harmonie Golf & Beach Estate extends over 73 hectares around a xx-hectare golf course.

In what year was this residential development launched in the heart of the West?

Harmonie Golf & Beach Estate is a phased development launched in 2022. Phase 1 was introduced to the market in March 2022.

How many villas are there at Harmonie Golf & Beach Estate?

The development will ultimately consist of 220 villas.

What is the surface area of the plots and villas?

The average area of our plots is around 2,100m² and the area of the villas starts from 400m².

What is the price range for the villas at Harmonie Golf & Beach Estate?

The price of the villas is between €1,490,000 and €3,000,000.

Is construction allowed to straddle more than one plot of land?

No. Construction straddling two plots is not allowed.

What is the architectural style for the construction of the villas?

The architecture of the villas is inspired by the Mauritian art of living with a passive housing approach. We offer three types of villas (Villa N, Villa S and Villa W), with multiple options and three types of finishes (Typik, Metalik, Balsaltik). For more information, visit our website (www.harmonie.mu).

Is an owner allowed to build an ultra-modern villa?

Owners must comply with strict architectural specifications and guidelines.

Who are the architects for the Harmonie Golf & Beach Estate residential development?

JFA Architects is the architectural firm working on the project. The team led by the Mauritian architect, Jean-François Adam has been able to bring out the concept of passive house in the architecture of the Harmonie Golf & Beach Estate villas. These spacious, outward-looking units sold off-plan (VEFA) are bathed in natural light.

How close is Harmonie Golf & Beach Estate to the surrounding conveniences?

Harmonie Golf & Beach Estate is located in the South-West of Mauritius, in the preserved and authentic region of Les Salines, Black River. Estimated travel times by car are as follows: • 10 minutes to Le Morne Peninsula • 20 minutes to Flic en Flac • 50 minutes to Curepipe, in the centre of the island • 45 minutes (off-peak) to Port Louis, the capital • 1 hour to Sir Seewoosagur Ramgoolam International Airport Convenience stores, supermarkets, butcher shops, sports and leisure facilities and shopping centres are within 5-10 minutes by car.

Do you take charge of rental management?

No. However, we can put you in touch with a high-end property management and rental company.

How does Harmonie Golf & Beach Estate differ from other PDS developments?

The topography of Harmonie Golf & Beach Estate offers spectacular panoramic views of the sea, mountain and golf course. Future owners will also have privileged access to Paradis Beachcomber Golf Resort & Spa and Dinarobin Beachcomber Golf Resort & Spa, as well as the Group's upcoming hotel project, Harmonie Beachcomber. Choosing to live at Harmonie Golf & Beach Estate means choosing an authentic and modern lifestyle with total respect for the environment.

What is the PDS?

The Property Development Scheme (PDS), which replaced the Integrated Resort Scheme (IRS) and the Real Estate Scheme (RES), allows for the creation of a set of residences for sale to non-citizens, citizens and members of the Mauritian diaspora.

The PDS includes the following:

  1. the development of luxury residential units on freehold land with an area of at least 0.4220 hectares (1 arpent);
  2. the development of at least six (6) high-end residential properties;
  3. high-quality public spaces that promote social interaction and a sense of community;
  4. high-quality commercial and leisure facilities and facilities to improve residential units;
  5. day-to-day management services to residents, including security, maintenance, gardening, solid waste disposal and domestic services; and
  6. a social contribution in terms of social infrastructure, community development and other facilities for the benefit of the community.

A non-citizen purchasing a PDS villa is eligible for a residence permit with a minimum investment of  USD 375,000 or the equivalent in a freely convertible foreign currency.

 

Does the purchase of a PDS property in Mauritius remain a safe investment despite the crisis?

Yes. Property remains an ultra-safe investment. Purchasing a villa at Harmonie Golf & Beach Estate is an investment with great potential for added value on resale.

Who can acquire a property within this kind of development?

Once approval is received from the Prime Minister’s Office, if required, a PDS property can be purchased by the following:

  1. a Mauritian citizen;
  2. a foreign citizen;
  3. a foreign company under the Companies Act 2001;
  4. a “société” under the Companies Act 2001; or
  5. a Trust.

What is off-plan sale (VEFA)?

PDS villas are sold off-plan under the “Vente en l’État Futur d’Achèvement” scheme. This is a contract under which the seller immediately transfers his rights and ownership of existing buildings to the buyer. Future works become the property of the purchaser as they are completed and the latter is therefore obliged to pay the price of the villa in instalments as works progress, in accordance with the provisions of Articles 1601-1 to 1601-45 of the Mauritian Civil Code. The prices are set as part of a VEFA agreement and the buyer is provided with a performance bond (GFA) to ensure completion of his villa and servicing of common areas.

Is the residence permit issued to foreign citizens with the purchase of a PDS property?

The residence permit is issued for buyers, their spouses and children under the age of 24. It remains valid as long as the buyer retains ownership of his PDS villa. It is issued a few months after signing the deed of sale in case of a VEFA agreement or resale and upon completion of construction of the villa.

Will a non-citizen obtain the residence permit upon purchase of a property at Harmonie Golf & Beach Estate Harmonie Villas?

Yes. A non-citizen will be eligible to apply for a residence permit upon purchase of a Harmonie Golf & Beach Estate Harmonie Villas property whose valued at least is not less than USD375,000, or its equivalent in any other freely convertible foreign currencies. Spouses and dependent children (under 24 years) are also eligible to apply for a Mauritian residence permit.

An unmarried partner can also apply for the residence permit provided, as long as that he or /she is in a living relationship with the purchaser and holds, at the time of application, a cohabitation agreement (Certificat de Concubinage), or any other document certifying such relationship with the purchaser, duly prepared by a law practitioner.

If my partner and I live together but are not married, can we buy a property in both our names and therefore both of us qualify for the residency?

One option is that the residential property can be purchased either by you or your partner. B, where the buyers is are eligible to apply for a Residence Permit for themselves (main applicants) and their common law partner (dependent) , as long as they are latter is in a living relationship with the buyer.

At the time of application, a cohabitation agreement (Certificat de Concubinage) must be submitted, or any other document certifying such relationship duly prepared by a law practitioner must be submitted. However, please note that the residence permit for a common law partner is issued for a renewable period of 12 months and is renewable.

Alternatively, if both of you intend to jointly acquire a property, this can be made realized through setting up a n legal entity or trust.

For how long will my residence permit be valid?

The residence permit remains valid as long as the purchaser buyer owns the property purchased under the PDS regime, and is revoked cancelled when the purchaser buyer ceases to own the property.

How do I apply for a residence permit?

The Harmonie Golf & Beach Estate Harmonie Villas team will assist you with all administrative procedures with the relevant authorities.

As a holder of a residence permit, am I allowed to work on the island?

A residence permit obtained followings a result of the acquisition of a property under the PDS regime does not exempt the purchaser from the requirement of obtaining a work permit. The non-citizen will need to apply for a work permit separately.

What are the main fiscal tax benefits of living in Mauritius?

Mauritius has built a reputation, over the years, built its reputation as a secure and reliable investment hub and as one of Africa’s top-ranked economies. This Mauritius is a free market economy has, having claimed the highest score on ease of doing business in sub-Saharan Africa (SSA) with free movement of capital indue to the absence of any exchange control, enabling free movement of Capital.

The island boasts a streamlined simplified tax system and an attractive fiscal tax regime consisting of:

• a flat tax rate of 15% (income, corporate and VAT);

• free repatriation of profits, dividends and capital;

• no taxation on interest and dividends at source;

• no capital gains tax;

• no inheritance tax for direct descendants;

• Solidarity Levy: additional 25% on income above EUR 60K per year up to a maximum of but capped at 10% of total income; and

• Double Taxation Agreements with 46 countries, including France, South Africa, the United Kingdom, India and China.

How do I purchase a residential property under the PDS?

Properties are sold off-plan under the VEFA (Vente en l'État Futur d'Achèvement) governed by the Mauritian Civil Code. The VEFA establishes clear procedures under which a property can be purchased, as follows:

  1. Reservation Agreement

The buyer and the developer sign a reservation agreement, known as the Contrat de Réservation Préliminaire (“CRP”), upon which a deposit is paid by the buyer into an escrow account.

  1. Buyer approval

Upon receipt of the required documents from the buyer, the developer will make an application to the Economic Development Board (EDB) of Mauritius to seek approval for the acquisition of the property.

  1. Deed of sale

Once the developer has advised the buyer that all the relevant permits, financial, legal and technical requirements are in place for going ahead with the construction of the residential property, a Deed of Sale is signed. This document that transfers the ownership of the residential property purchased under the PDS regime from the developer to the buyer. As such, upon signature of the Deed of Sale at the Notary’s office, the buyer becomes the registered owner of the property under the laws of Mauritius.



How will the off-plan purchase of my residential unit be secured?

The VEFA contract includes a performance bond, known as a “Garantie Financière d’Achèvement” (“GFA”). This guarantee is issued by a reputable bank, which will undertake to ensure that the project is completed and delivered according to agreed specifications in the event of default by the developer. The GFA is issued to the purchaser at the time of signature of the Deed of Sale.

Where will my deposit be held?

Your deposit will be held in a special account opened with a commercial bank where the Notary shall act as “Escrow Agent”. As such, the Notary ensures that the money remains into the account until the Deed of Sale is signed in line with the requirements of the law. The deposit will then be released to the developer as part of the selling price. The deposit is fully refundable in the event that approval is not obtained from the EDB or the developer does not proceed with the project.

What is the payment schedule for the property?

The property price is payable by instalments at different stages of construction according to a timeline specified by the developer and the following payment conditions:

  • Signature of CRP: 10% deposit
  • Signature of the Deed of Sale: 20% + taxes
  • Completion of foundations: 5% (+ 4 months)
  • Waterproofing: 35% (+4 months)
  • Completion of the villa: 25% (+6 months)
  • Handing over of the villa: 5% (+4 months)

Estimated duration of construction work = 18 months from signing of the Deed of Sale

What other fees do I need to pay in addition to the property price?

(a) Notary fee: 0.5% of selling price + VAT, payable upon signing of the Deed of Sale

(b) Registration Duty, which is currently 5% of selling price.

(c) EDB Application fees: currently at MUR 20,000, and may be subject to change and is non-refundable

(d) Escrow account opening charges: EUR 700 + VAT, non-refundable

Is it possible to obtain a mortgage?

Yes, mortgages can be secured with local commercial banks for the purchase of the property.

If I purchase a property through a corporate entity, can you assist me in registering such a structure?

Harmonie Golf & Beach Estate has privileged relationships with local management companies that can advise you should you require assistance in this regard.

Who is the developer?

The developer of the project is Les Salines PDS Ltd, a fully owned subsidiary of Semaris Ltd (www.semaris.mu), a public company incorporated on 23 February 2018 in Mauritius.

What is the total size of the development?

The development will comprise 220 villas and an 18-hole golf course upon completion.

Will there be a co-ownership programme?

Yes, following construction and handover, the common areas will be managed by a co-owners’ association (Syndicat de Copropriété). The general rules of co-ownership will be included in the Co-ownership Regulations.

Is there a co-ownership fee?

All co-owners will contribute a co-ownership fee to cover the operational costs for all common areas. The share of contribution of residential units is determined by the Notary as part of the Co-ownership Regulations based on criteria including their size and facilities available.

How many golf courses are located in the South of Mauritius?

There are 5 golf courses in the South and South-West region.

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