Yes, the Mauritian government actively encourages foreign investment in the real estate sector. In fact, the real estate investment route is the easiest and quickest way to obtain a residence permit for the expat and their family which can eventually lead to Mauritian citizenship.

Foreigners are eligible for a residence permit when acquiring real estate with a minimum purchase price of USD 375,000. The property must be part of an IRS, RES or PDS project. Foreigners are also allowed to purchase property, in a non-PDS project, if it is an apartment complex with a minimum of ground floor + 2 floors. In this case, the minimum purchase price is USD 500,000. All funds for the purchase of this property must be paid from their sources of income or savings abroad.

The investor's spouse, children and parents are also eligible for the residence permit. This residence permit automatically allows the investor to work, start or buy a business, or own other real estate in the country.
A residence permit granted under the IRS, RES or PDS program is valid if the investor retains ownership of the property. When the property is sold, the new owner becomes eligible for all these privileges.

In as little as 2 years, the investor and their family can apply for Mauritian citizenship and as a Mauritian citizen, they can enjoy visa-free access or visa on arrival to approximately 148 countries around the world, making it a very powerful journey. document for the world traveler.
The investor and his family can benefit from the very advantageous tax residency of Mauritius, subject to easy conditions. Investors with worldwide income can pay as little as 3% in income tax, which is one of the lowest in the world. Our international tax consultants in our consulting division will be happy to assist you on these matters.

All ownership rights which are part of the PDS/RES/IRS schemes are FREEHOLD and title may be transferred to any third party or inherited by legal heirs.

IRS, RES and PDS are all different real estate investment program schemes that cater to foreign buyers. All investments made in these designated projects are intended for the purchase of FULL-HOLD land.

Integrated Resort Scheme (IRS) was the first property investment program introduced by the Government of Mauritius in 2002. A few years later the Real Estate Scheme (RES) scheme was launched and in the year 2016, the Property Development Scheme (PDS) was launched .

Compared to the IRS, a few relaxations were offered in RES, which was further liberalized in the PDS scheme.

The sale of VEFA goods is covered by the VEFA. According to article 1601-3 of the Mauritian Civil Code, the VEFA is a contract by which the seller transfers to the buyer the rights over the land including the future construction which is planned on the land. The buyer pays the total sale price in several installments according to a pre-established payment schedule linked to the progress of construction, verified and certified by an approved quantity surveyor and to the satisfaction of the notary.

There are in total more than 150 projects across Mauritius (IRS, RES and PDS combined) allowing more than 2000 families from France, South Africa, Great Britain, Belgium, Madagascar, Germany, China, Italy, Switzerland and other countries to settle in Mauritius. The profile of buyers is mainly as follows:

1. Investors looking for a safe but also profitable investment

2. Business owners with a global income who wish to benefit from simple tax residency of Mauritius

3. Global citizens who secure a second home where they can move to in the future in case of an eventuality in the home country.

4. Global citizens who want to obtain a second passport that will allow them to travel the world with fewer visa restrictions.

5. Digital entrepreneurs, stock traders and retirees

Under the terms of a VEFA contract, all claims relating to clearly visible defects must be submitted to the developer within one month of the delivery date and the developer has the obligation to remedy such defects within the property. Buyers are also protected against property defects by a two-year warranty (Biennial Civil Liability) and a ten-year legal construction warranty on the property (Ten-year Civil Liability) under the Mauritian Civil Code.

In addition to the guarantee provided for by the Mauritian Civil Code and the contractual agreement, buyers also benefit from a completion guarantee (Financial Completion Guarantee, GFA) from a trusted bank or any recognized financial institution. in Mauritius. The GFA is a financial guarantee assuring the buyer that the good will be delivered according to the terms of the contract. In the event of failure by the developer to fulfill its obligations, the bank guarantees delivery of the property.
The buyer also obtains a certificate of conformity from an international quality assurance company like APAVE or SOCOTEC, which certifies the quality of the construction as an additional guarantee for the buyer.

Step 1: The preliminary reservation contract (PRC)

The PRC is the preliminary contract between the buyer and the developer, and it reserves the property in favor of the buyer. Upon signature of the PRC, a deposit representing an initial deposit is payable by the buyer to a notary's escrow account.

Step 2: Letter of Approval from the Economic Development Board (EDB)

The developer will collect from the buyers, their KYC and certain additional documents required by the authorities, to make an application to the Economic Development Council on behalf of the buyer for the acquisition of a property in an IRS, RES or PDS property. The Economic Development Council reviews the application and, if approved, offers a letter of approval that allows the developer and buyer to finalize the sale.

Step 3: The deed of sale (DOS)

Upon receipt of the letter of approval from the EDB, the buyer and seller meet before a notary to sign the deed of sale. At this point, the client becomes the official owner of the property.

The buyer becomes eligible for the residence permit upon obtaining approval from the EDB and signing the deed of sale.

The buyer does not need to travel to Mauritius to complete steps 1 and 2 as detailed above in the answer to question 8. The buyer may choose to come to Mauritius for a brief period of one week to complete step 3. However, with recent legislation, even digital signatures are accepted and the buyer can therefore still execute the deed of sale from their country of origin, in the presence of a notary.

At the end of step 3, the company, via its advice center, will be responsible for requesting and obtaining residence permits for the buyer and their family. This process usually takes a minimum of 2 months and, once it is ready, the buyer and their family can travel to Mauritius to collect their residence permits.

Notarized photocopies of the following documents are required as electronic copies:

1. Passport
2. Proof of address
3. Birth certificate
4. Certificate of morality
   Marriage certificate (if married)
5. Family lineage if available

Yes, a Power of Attorney can be appointed by the buyer from his home country to act on his behalf in Mauritius. This Power of Attorney can be an individual or a company, however Colbert Holdings or its group companies cannot be appointed as the Power of Attorney. The Power of Attorney document must be notarized and the documents must be sent to Colbert Holdings through courier.

However, for applying for the Resident Permit, the buyer must visit Mauritius with all the original documents as listed in answer to question 11 above. The buyer can represent his/her children, below the age of 18, whose application for the resident permits can be submitted by the parents.

No real estate agency fees are payable. Registration fees of 5% and notary fees of 1.5% of the sale value are the responsibility of the buyer at the time of signing the deed of sale. There are no other fees to pay.

There is no wealth tax or inheritance tax in Mauritius.

Our projects are located in and around Grand Baie, in the northern part of the island, approximately 68 km from the airport. Driving time to various locations is as follows:

• 5 minutes from French and international schools
• 5 minutes from Super U and less than 10 minutes from GBLC (La Croisette) and the proposed Beau Plan shopping centers
• Less than 10 minutes from the commercial areas of Grand Baie to access private hospitals, banks and international money changers
• 10 minutes from some of the most beautiful beaches in the northern region: La Cuvette, Péreybère, Bain Boeuf, Cap Malheureux, Trou Aux Biches, etc.
• 20 minutes from Port Louis, the capital of the country, about 40 minutes from Ebène (Cyber city)