Wednesday, 23rd June 2021
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TThe Real Estate Scheme (RES) is essentially a slimmed down version of the Integrated Resort Scheme (IRS) that has made such an impact on the Mauritian property market in the last two years.The thinking behind the scheme is to let smaller land owners have a share of the property development pie. IRS development has been dominated by the large sugar companies.The benefit for investors is that RES property will be more  affordable than IRS property.

Key Features

Non Mauritians may purchase the property. The project property size must be between
1 Arpent (about 1 acre) and 10 Hectares must be freehold land - this rules out any beach front property that is usually government owned and leased.
The scheme must offer commercial and leisure amenities in addition to residential.
The scheme must provide day to day support services such as solid waste disposal, security, maintenance, gardening and household services The land owner should not own more than 10 hectares in total in Mauritius.

Individual sites should not exceed 1.25 arpents (about 1.25 acres).

There is no minimum investment value (IRS has a minimum of USD 500 000).
Permanent resident status given to purchasers of properties worth at least USD 500,000
Payment for purchases off-plan shall be in instalments according to construction progress.

The first purchaser pays registration duty of $25 000.

Re-sales require the purchaser to pay land transfer tax of 5% on the property value plus the legistration duty of $25 000.

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