A. A safe and sought-after destination
Mauritius is considered one of the safest countries in the Indian Ocean region, with a low overall crime rate. It is a non-aligned country and has strong and friendly relationships with the global world and is not targeted by any known radical groups.
Political violence and civil unrest are uncommon and most protests are done in a peaceful way.
Moreover, as a multi-ethnic and multi-faith nation, Mauritius has managed its diversity well when compared to other African countries.
B. Mauritian residence permit
Foreign homeowners are eligible for a Mauritian residence permit on purchase of real estate property falling under the IRS, RES or PDS programmes and exceeding a cost price of USD 500 000.
The spouse and dependent children (under 24) of residence permit holders are also eligible for residency. An unmarried partner will however not qualify for a residence permit, but will be entitled to a renewable residence permit on a yearly basis. It should be noted that the residence permit does not lead to obtaining Mauritian citizenship, meaning that even though the holder is entitled to live in Mauritius, (s)he may not necessarily be allowed to work or to own any other real estate properties across the country.
Outside the IRS scheme, a residence permit obtained as a result of an IRS real estate property acquisition entitles the holder to work on the island, provided a work permit is obtained. The latter is normally granted without much difficulty following application.
Given that the conditions for obtaining a residence permit are tied to the property purchased and that the permit is passed on from one owner to the other, a residence permit granted under the IRS shall remain valid until such time as the non-citizen (overseas buyer) ceases to own a property in Mauritius.
C. A favourable tax system
With the adoption of an act pertaining to the Integrated Resorts Schemes (IRS), Mauritius has become an attractive destination for foreigners seeking to live in a country that promises profitable investment and a high standard of living.
Villas Valriche fits the bill by allowing owners to benefit from an advantageous taxation environment, permanent residence and freehold benefits. The residence permit entitles the property owner to be tax domiciled in Mauritius, provided that the duration of stay on Mauritian territory exceeds 183 days per year.
As the country has signed a Non-Double Taxation Treaty with 43 countries, the Mauritian tax resident status entails a number of benefits, such as:
- No inheritance or capital gains taxes.
- Dividends and other income derived from capital gains are exempt from taxes.
- A 15 % income tax threshold is applied for both individuals and companies.
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