IRS in Brief
What is the Integrated Resort Scheme (IRS)?
The IRS is basically a project for the construction and sale of luxury villas to foreigners in idyllic settings around Mauritius. The acquisition of a villa for residential purposes only by a foreigner under the Scheme will allow the foreigner and his/her family to reside in Mauritius for as long as he/she holds the property.
The luxury villas
Villas sold under the scheme form part of a complex of luxury villas of international standard and high-class facilities and amenities such as: golf courses, marinas, equestrian centres and individual swimming pools, nautical and other sports facilities, health and beauty centres, high class restaurants amongst others. Maintenance, waste disposal, gardening, security and other household services are also included.
The extend of land in respect of each villa shall not exceed 1.25 arpents (0.5276 hectares). The villa can be acquired on the basis of a plan or during the construction phase.
The extend of land in respect of each villa shall not exceed 1.25 arpents (0.5276 hectares). The villa can be acquired on the basis of a plan or during the construction phase.
Residence Permit under IRS
The acquisition of a villa under the Scheme shall grant resident status to the investor, spouse and dependents. A residence permit granted under the IRS shall remain in force for such time as the non-citizen holds immovable property in Mauritius under the scheme. The application for a Residence Permit shall be made at the time of applying for the IRS.
Who can apply to buy a villa under IRS?
Any one of the following can apply under the Scheme:
Who can apply to buy a villa under IRS?
Any one of the following can apply under the Scheme:
- Non- citizen of Mauritius (including his spouse and dependants);
- A foreign company under the Companies Act (of Mauritius) 2001;
- A citizen of Mauritius;
- A company incorporated under the Companies Act 2001.
Selling back of immovable property
Possible provided written notice is given to the Board of Investment 30 days prior to the sale. Resident Status will be lost on selling back the villa.