Villas sold under the IRS scheme must form part of an approved development of villas, built to international standards, with world class amenities and facilities. The minimum selling price of a villa is set at $500,000 and the maximum extent of the land is limited to 0.5276 hectares (1.32 acres). A villa can be acquired off-plan or during the construction phase.
The acquisition of a villa for residential purposes by a foreigner under the Integrated Resort Scheme will allow the foreigner and his/her dependant family to reside in Mauritius as long as he or she retains ownership.
Furthermore, residents benefit from a highly attractive tax regime, offering:
- Personal income tax of 15%
- No capital gains tax
- No inheritance tax
- Tax free dividends
- Free repatriation of profits, dividends and capital
- Corporation tax of 15%
- Up to 100% foreign ownership
- Exemption in certain cases from customs duty on equipment
- An extensive tax treaty network with several countries