As a means to further promote business and investment opportunities, Mauritius offers to the potential investors the possibility to acquire property or take up residency in a versatile, potentially tax advantageous jurisdiction through the IRS, RES and IHS schemes.
The tourism industry is now converging with the hospitality industry and the development of real estate is attracting temporary and permanent visitors to the island.
Juristconsult has a proven track record in providing legal services in these fields. We advise and offer legal assistance to real estate and hotel promoters, tour operators and tourism stakeholders.
The Integrated Resort Scheme (IRS) is a project for the construction and sale of luxury villas to foreigners and citizens of Mauritius. The acquisition of a villa under the Scheme grants resident status to the investor, his spouse and dependants. Individuals and corporate entities can also apply to buy a villa under the IRS Scheme.
The Real Estate Scheme (RES) relates to smaller land developments whereby the owner of the land should not own land more than 10 hectares in surface. It is open similarly to residents or foreigners as purchasers. The thinking behind the scheme is to let smaller land owners have a share of the property development pie. The benefit for investors is that RES property will be more affordable than IRS property.
The Invest-Hotel Scheme (IHS) is designed to enable property developers to sell hotel rooms, villas, suites or any other part of a hotel to individual buyers. There is no minimum investment on acquisition and under this scheme, the hotel building is divided into private and common units. The full freehold ownership of the private units is passed to the respective owners whilst the common units are collectively owned in copropriété. The sale of units or other parts of the hotel is thus made with a règlement de copropriété that permits the owner of a unit to acquire the full ownership of his unit, hence dividing occupation of the property.
Juristconsult provides assistance and advice on the acquisition of property under the above real property and investment schemes, namely:
RESIDENCY & NATIONALITY
Juristconsult provides legal support and assists the client with and throughout the application process for the following: