The access to direct info that would take one months to find.
The fact that we were exposed to a host of various sectors and players within Mauritius.
Exposure to the main property development opportunities on the island, as well as the various players to assist in investing on the island.
A subtropical paradise in the southwest Indian Ocean, the easy-going Mauritius lifestyle holds attractive benefits for foreign investors.
Mauritius is ranked as the best country in which to do business in Africa, according to the World Bank. Mauritius is a picture of sustained economic growth and political stability.
Intelligent urban spaces represent a lifestyle revolution on a scale last seen when motor cars caused suburban sprawl.
Anticipating a new way of living, the Mauritian authorities implemented the “city-smarting” work environment a decade ago.
Following a philosophy of an environment which integrates living, working, and playing, the Smart City concept is based on innovation, sustainability, efficiency and quality of life. An eco-conscious city which focusses on optimal use of resources benefits the natural environment and pays handsome lifestyle dividends.
The lifestyle benefits of integrated office, business, residential and recreational spaces are catching on at pace with the growth of people-centred Smart Cities across Mauritius.
The Moka Smart City development is a key component of Mauritian policy-makers’ plans to create real economic opportunities.
Moka Smart City is an outstanding opportunity for foreigners to invest in a future-focussed development in the heart of the country.
INVEST IN MOKA SMART CITY
Looking out over an iconic mountain range, Moka Smart City effortlessly combines cultural authenticity and modernity to offer a smart Mauritian way of living. It is a life connected to others, full of activity and leisure, conveniently located close to:
A revised masterplan for State land at the Jin Fei Economic Zone at Riche Terre presents lucrative commercial and industrial investment opportunities.
The new masterplan includes port related and logistics activities, light and heavy industries, warehousing, food processing and small and medium enterprises, among other amenities.
A zoning system with specific uses will be assigned to each development block. Elan Property Group has secured land to construct 100m2, 250 m2 and 500 m2 industrial units. Provision has also been made for a food court, and an open leisure park.
Originally part of China’s Going Global strategy, the Jin Fei economic zone is 362 hectares with water and electricity infrastructure in place. Existing enterprises include two warehouses for the processing of re-exported products.
Mauritian authorities are pursuing the project’s strong commercial potential with new vigor to attract foreign direct investment (FDI), create employment and build commercial capacity. A road network project is under way to ease the flow of traffic to and from Riche Terre.
Invest in Jin Fei Industrial Park
The Occupation Permit (OP), which is a combined work and residence permit, allows non-nationals to reside and work in Mauritius. Non-citizens, above the age of 50 years, may also choose to retire in Mauritius under a Residence Permit (RP).
A non-citizen can apply for an OP/RP under any of the following 4 categories:
Investor: Initial transfer of USD 100,000 (approx. R1 340 000) and the business activity should generate an annual turnover of at least MUR 2 million (approx. R760 000) for the first year and cumulative turnover of at least MUR 10 million (approx. R3 800 000) for the subsequent two years.
Existing investor with a net asset value of at least USD 100,000 (approx. R1 340 000) and a cumulative turnover of MUR 12 million (approx. R4 560 000) during the preceding 3 years with a turnover of at least MUR 2 million (approx. R760 000) in any one year.
Individual who has inherited a business in case of death or incapacity of the previous investor provided that the net asset value of the business is at least USD 100,000 (approx. R1 340 000) and a cumulative turnover of MUR 12 million (approx. R4 560 000) with a turnover of at least MUR 2 million (approx. R760 000) in any one year.
Professional: Basic salary should exceed MUR 60,000 (approx. R22 800) monthly. However, the basic salary for professionals in the ICT Sector should exceed MUR 30, 000 (approx. R11 400) monthly.
Self-Employed: Income from the business activity should exceed MUR 600,000 (approx. R228 000) annually for the first two years of activity with an initial investment of USD 35,000 (approx. R469 000).
The annual income has been increased from MUR 600,000 (approx. R228 000) to MUR 1,200,000 (approx. R456 000) as from the third year of activity.
Retired: The non-citizen must undertake to transfer to his/her local bank account in Mauritius, at least USD 40,000 (approx. R536 000) annually
The Occupation Permit/ Residence Permit is granted for a maximum period of three years, renewable thereafter subject to established criteria.
Dependents of Occupation/ Residence Permit holders, namely spouse, children up to the age of 24 and common-law partner, are also eligible to apply for a residence permit in Mauritius.
Exchange rates approximate. Based on ZAR13.4 : 1US$ and ZAR0.38 : 1MUR as at 5 July 2017.
For foreign investors, Smart Cities are a smart option because there is no VAT payable on the purchase price. In order to qualify as a Smart City Scheme (SCS), developments need to meet certain criteria. These include:
In most cases, Permanent Resident Permits are granted after Occupancy Permits have been held for three years. The Permanent Residence Permit allows a non-citizen to work and live in Mauritius for a period of ten years. The following categories are eligible for the Permanent Residence Permit.
An investor who holds a valid Occupation Permit and the aggregate turnover of his company has exceeded 45 million rupees (approx. R17 100 000) for any consecutive period of 3 years.
An investor who invests at least USD 500,000 (approx. R6,7m) in a qualifying business activity as per list below:
A self-employed person who holds an Occupation Permit and where the annual income exceeded MUR 3 million (approx. R1 140 000) for three consecutive years.
A professional having a valid Occupation or a Work Permit and whose monthly basic salary exceeded MUR 150,000 (approx. R57 000) for three consecutive years immediately preceding the application.
A retired non-citizen who has held a Residence Permit for three years and has transferred USD 40,000 (approx. R536 000) annually to his account in a local bank during each of these three years.
In terms of property ownership, a non-citizen is eligible for a residence permit upon the purchase of a villa under the PDS scheme when he has invested more than USD 500,000 (approx. R6,7m) or its equivalent in any freely convertible foreign currency.
Exchange rates approximate. Based on ZAR13.4 : 1US$ and ZAR0.38 : 1MUR as at 5 July 2017.
Foreigners could previously buy property in Mauritius based on the Integrated Resort Scheme (IRS), Real Estate Scheme (RES) and Property Development Schemes (PDS). Towards the end of last year, amendments to the Non-Citizen’s (Property Restriction) Act made it possible for foreign investors to buy apartments outside of these schemes. This has opened up a whole range of new opportunities.
Yes, it is possible. Non-citizens, above the age of 50 years, may choose to retire in Mauritius under a Residence Permit (RP).
The non-citizen must undertake to transfer to their local bank account in Mauritius, at least USD 40,000 (approx. R536 000) annually.
To qualify for a Permanent Residence Permit, a retired non-citizen has to have held a Residence Permit for three years and transferred USD 40,000 (approx. R536 000) annually to their account in a local bank during each of these three years.
Exchange rates approximate. Based on ZAR13.4 : 1US$ as at 12 July 2017.
Overall experience and value of information for investment.
Gaining an understanding of the property investment landscape and opportunities and how they relate to local laws regarding residency options and related legal and statutory considerations.
The opportunity to interact with experts in one-on-one sessions.
The route from procurement to financing information, and residency info.
Great opportunity to ask specific questions
The knowledge gathered was overwhelming and exciting at the same time. A massive opportunity. I’ll definitely be recommending the roadshow to others.
Making connections with the institutions and professionals in Mauritius.
The one-on-one meetings were good as you could focus on who you would like to meet to accomplish your specific goals.
The Elan Property Group has a strong track record as a leading developer of lifestyle and tourism investment opportunities in Southern Africa. Founded in 1997 and headed by Mark Taylor, the group has built up a reputation as an innovative leader in real estate marketing and sales, and sales of hospitality investment projects, as well as a portfolio of diversified investments.