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Mauritius Luxury Real Estate: 2.1 billion rupees of foreign direct investment on the island for the first six months of 2014

According to the Central Bank of Mauritius, foreign direct investment (FDI) at the level of the high range estate (IRS-RES-IHS) have drained some 2.1 billion rupees of investment in their wake for the first six months of the year * , as reported by the Le Défi Quotidien newspaper.
As a reminder, the Real Estate Scheme (RES) put in place at the end of the year 2007 by the Mauritian Government allows foreign owners to buy real estate luxury in Mauritius.
Acquisition real estate premium under the aegis of the RES does not give automatic right to its owner to reside in Mauritius except if the value of the property exceeds 500,000 dollars (386.325 euro).
In this case, operative of residence applies according to the same clauses granted during the purchase of villas under the vote IRS (Integrated Resort Scheme) regime in 2002 which in turn permits the acquisition for the holder of the property and its family of resident status in Mauritius.
 Meanwhile, IHS (Invest Hotel Scheme) offers potential buyers the opportunity to buy hotel rooms, villas and suites of a Mauritian hotel.
* One euro roughly equivalent to 41 rupees

Fabrice François

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