SMART CITY SCHEME IN MAURITIUS
Category Living in Mauritius
The Smart Cities, revolve around the work, life and play concept. They incorporate mixed use developments in a metropolis with smart technology and pioneering innovation at their core. The focus is to deliver a happier lifestyle through the development of self-sufficient cities offering integrated sustainable solutions and ensuring minimum wastage and maximum comfort for the long-term benefit of all citizens and future generations irrespective of social and economic class. Dedicated to bringing these ambitious goals to life, the Government of Mauritius has set up the 'Smart City Scheme', providing a clearly defined enabling framework and an attractive package of fiscal and non-fiscal incentives to investors. This paves the way for tremendous investment opportunities in a wide array of components in the pioneering urban development.
Incentives to a purchaser of a residential unit in a smart city.
Any person including a non-citizen may acquire a residential property. Any entity which includes domestic or foreign companies, societe, foundations, limited partnership and trusts can acquire a residential property. There is no minimum price for the acquisition of a residential unit.
First time Mauritian buyers are exempted up to Rs 200,000 from payment of registration duty on acquisition of a residential unit under the scheme. Members registered under the MauritianDiaspora Scheme are exempted from the payment of registration duty on acquisition of a residential unit under the scheme.
Any non-citizen acquiring a residential property for a sum exceeding USD500,000 is eligible to apply for a residence permit. The residence permit is issued to the applicant's: spouse or common law partner, child, stepchild or lawfully adopted child under the age of 24, next of kin that are completely dependent, if unmarried, provided that the number of dependents does not exceed 3. There are no restrictions on the rental or resale of residential units. Possibility to acquire life rights under theScheme.
Incentives to non-citizen investors
A non-citizen having held a residence permit for a continuous period of 2 years, and having invested over USD 5 million or its equivalent in Mauritius, is eligible to apply for registration/naturalization as a citizen ofMauritius
Author: RE/MAX 24