Patricia Piper Properties ltd

•    You have a project to invest in property but you haven't found the right place yet ...     
•    You have always dreamt of an island life or island holidays...
•    15% income tax is something that you could well be interested in...
•    You are a bit wary of investing in Europe or USA at the moment due to their financial instability
•    You are looking for a place where the word "service" still means something...
•    You are looking for a place to retire...

We will help you through the process of purchasing your property in Mauritius.

Basically, in order to purchase real estate in Mauritius as a foreigner, you have only 2 options, either the RES (Real Estate Scheme) or the IRS (Integrated Resort Scheme).

Both Schemes offer properties of high standards in closed and secured domains. 

The RES developments are usually fairly small, with smaller houses or even apartments, with prices starting from 200.000 dollars. (click here to see our selection of RES developments)
The IRS developments must provide with leisure and commercial amenities of high standing such as golf courses, marinas, individual swimming pools, spa and wellness centers, high class restaurants etc and a day-to-day management service.
The price of an IRS property will start at 700.000 dollars. (click here to see our selection of IRS developments)

As a foreigner, you can only stay in Mauritius for a maximum of 6 months per year (2 sets of 3 months). 

If you decide that you want to spend more time in Mauritius and eventually reside here permanently, you may obtain Mauritian resident status by purchasing a home in an IRS or RES development, as long as you are spending a minimum of 500.000 dollars.
In that case, you and your immediate family will obtain a residence permit for as long as you hold the property.

Another way to obtain your residence permit is to come to Mauritius for your retirement.
A person can retire in Mauritius, irrespective of age and nationality, for a period of 3 years.
In order to be eligible, the retired non-citizen must transfer to his/her local bank account in Mauritius, at least USD40.000 (forty thousand) per annum, or its equivalent in any convertible foreign currency.
This amount can be used or not by the retired person, but it must come into Mauritius.
After the 3 years, the government will grant the retired person with a 10 year residency permit providing the successful completion of the first 3 years.
Before, there was only the Integrated Resort Scheme where the retired person could purchase property on the island.  This has changed and there are more affordable properties on offer.

You can also come to Mauritius on a work permit, or as an investor.  For more information on these options contact the Board of Investment.
If you are coming on a work permit or as an investor and you wish to rent a house or apartment,  click here to view our selection of properties.

The Invest-Hotel now allows you to purchase hotel rooms, villas, suites or any other part of a hotel.

While this scheme paves the way to facilitate the overall financing of new hotel projects, it offers individual buyers all the facilities of an exquisitely-furnished new luxury resort hotel with amenities like F&B, full-service spas, health and fitness centres, resort-style pools, sophisticated business centres and maid service and the  promise of rental income.

Leaseback schemes have been in operation for the past twenty years and more recently they have become an increasingly popular method of financing property ownership.

Overview

Particularly popular in France and growing in Spain, the leaseback system of property ownership has caught on and is currently well known as a trouble-free and cost effective method of investing in property.

The concept of leaseback property purchase is simple: a purchaser buys the freehold of a property outright and then leases it back to a management company for renewable periods of up to 10 years. In return, the property owner receives a guaranteed rental return, irrespective of occupancy, at a fixed annual amount, which often offsets the cost of their mortgage payments. The rental return is net of all community fees, running and maintenance costs while these are covered by the management company for an initial fee.

The attraction to most investors is the ability to buy a dream holiday-home within a development they could otherwise ill afford. It is a freehold investment while most or all associated costs are covered by the guaranteed rental income. Most leaseback properties are located in the best locations with free pools, gyms and other tourist facilities, making them high-demand holiday locations and therefore easy to rent.

The Leaseback Agreement provides great peace of mind for many investors who constantly receive annual rental payments, meaning they are not exposed to fluctuations in the tourist market as returns are guaranteed, irrelevant of occupancy. It also means owners have no worries about day-to-day management responsibilities such as looking for a rental agent, paying utilities, dealing with maintenance issues or insurance.

In France, at the end of the lease period, the owner has the option either to live in the property or simply sign a new leaseback contract with the management company for another fixed period of guaranteed income.

We still have to find out how the end of lease will work out in Mauritius, but we find the news of this new IHS in Mauritius kind of revolutionary and we hope it will develop into a successful scheme just like the French leasebacks.