The Integrated Resort Scheme is a real estate scheme put in place by the Mauritian authorities aimed at attracting High-Net-Worth foreign individuals to invest in luxury properties in Mauritius. IRS is meant for the development of luxurious residential units, on freehold land of more than 10 hectares and the price of IRS units should exceed 500 000 USD (371 000 euros).
Any person purchasing an IRS property is automatically entitled to permanent residency, as well as his (her) spouse and any dependents. Thanks to this visa, an IRS buyer is exempted from paying inheritance tax. Moreover, there is no Capital Gain Tax. In case of resale of his IRS unit, he just pays a fixed rate of 50 000 USD (35 000 euros).
Who is eligible to buy an IRS property in Mauritius?
• An investor (spouse and dependents)
• A foreign company incorporated under the Companies Act 2001
• A Mauritian citizen A company incorporated under the Companies Act 2001
• A society of persons of which the act of constitution will have been deposited with "Registrar of Companies"
• A "trust" whose trustee is duly authorized by "Financial Services commission".
List of some IRS projects in Mauritius:
La Balise Marina
Le Parc de Mont Choisy
Tamarina Golf Estate
Source : wikipedia.com / lexpressproperty.com