The Real Estate Scheme, RES, is a scheme under which a foreigner can invest in Mauritius.
The RES / IRS / PDS schemes are an initiative of the Mauritian Government in collaboration
with the Board of Investment of Mauritius to facilitate the acquisition of residential property
by non-citizens on the island.
MANTA COVE is an RES project approved by the Board of Investments under the Investment Promotion (Real Estate Development Scheme) Regulations 2007 – which means that foreign buyers
and their immediate families will qualify for permanent Mauritian residence.
” Vente en Etat Futur d’Achèvement ” = Sale of a Property in a future state of completion.
Manta Cove Villas and Apartments are sold under the VEFA status which is a contract whereby the purchasers only provides payment at different stages of construction. A registered professional QS (Quantity Surveyor) certifies those stages. As a counterpart, the vendor has to provide a bank guarantee, given by a commercial bank in Mauritius, that the works will be completed.
Upon execution of the deed of sale the seller transfers immediately to the purchaser its rights on the land and on the existing buildings.
A rational investment
In 2015, Mauritius was ranked 6th in the world for the best destinations for low tax taking into account the quality of life, legal and physical safety, the quality of economic investment developed by the local Government to encourage investment of new residents in the country, rapid administrative processes, the geographical location, its accessibility and its places of interest.
(Source: firm Bradley Hackford specialist in change of tax residence - www.bradleyhackford.com).
Who can buy an apartment
or villa in Manta Cove?
A non-citizen of Mauritius
A citizen of Mauritius
A company registered as a foreign company under the Companies Act 2001
A company incorporated under the Companies Act 2001
A société, where its deed of formation is deposited with the Registrar of Companies
A trust licenced by the Financial Services Commission.
Note. A company holding a Cat. 1 Global Business Licence as defined under the Financial Services Act 2007 may acquire a residential property under the RES scheme.