What is the total size of the development?
Ninety (90) Hectares.
Are there Architectural Guidelines for the Estate?
Yes. A ‘Cahier des Charges ( Building regulations )’ has been registered which sets out the building and architectural guidelines for the whole development.
Will there be a warrenty provided on the properties?
Yes. The building company provides a decennial property insurance which acts as an guarantee against any major defects which could occur.
Do the units come furnished?
Yes. A furniture decopack is provided at a separate cost as an option. However it is also possible to not take the decopack.
Will there be a Rental Management program ?
Yes. There will be a Rental management Program which will enable owners to beneficiate a return on their investment within a specific period.
Am I eligible to enter the Rental Management Program ?
Yes. All owners having bought the project with a deco pack are able to enter the Rental Management Program.
What are some of the tax benefits of living in Mauritius?
Mauritius is recognised as the one of the best administered economies in Africa and offers an excellent environment in which to do business. This is partly due to the level of taxation, with a flat corporate tax rate of %15 and tax residents in Mauritius are also subject to a flat rate of %15 on income earned or otherwise repatriated to Mauritius.
– No inheritance & Capital gains taxes
– Dividends & other income derived from capital gain are exempt from taxes
– 15% income tax threshold is applied for both individuals and companies
– Double taxation agreements with 43 countries
To get advice on financial and legal structuring of my purchase who can I approach?
Mauritius has a number of highly reputable firms in the Financial Services Sector that provide this service. Should you require assistance in this regard we can assist in arranging an appointment.
When can I apply for my Residence Permit?
How can a non-citizen acquire property in Mauritius?
A non-citizen, or foreign company registered in Mauritius, can purchase any property which forms part of a Property Development Scheme (PDS). PDS projects have to comply with the Investment Promotion Act of Mauritius.
Who can purchase a residential property in the above scheme?
Any one of the following are eligible to acquire property under the scheme:
Who can assist me in registering to such structures as mentioned above ?
Just as tax advisers, Mauritius has a number of highly reputable firms in the Financial Services Sector that provide this service. Should you require assistance in this regard we can assist in arranging an appointment.
What is the process of buying a property in Mauritius?
The Purchaser and the Promoter sign a contract of preliminary reservation (‘CRP’).
By purchasing a unit off-plan, how is my purchase secured?
The acquisition of a unit off-plan or during construction of the project is governed by the provisions of a ‘vente en l’etat future d’achevement’ (‘VEFA’), in accordance with the Mauritian Civil Code.
The Promoter provides the Purchaser with a guarantee of future completion, Garantie Future d’Achévement (‘GFA’).
This GFA is issued by a registered financial institution in Mauritius, usually a bank, and is a guarantee that the unit you have purchased will be completed and delivered to you in accordance with the project specifications and drawings.
The GFA is issued to you simultaneously with your signature of the Deed of Sale.
In the case of Royal Park, the GFA will be issued by The State Bank of Mauritius ( SBM )
Is it possible to obtain a mortgage loan ?
Yes, Local banks and international banks implanted in Mauritius are willing to finance up to 60% or more of the purchase price
Are there other fees payable in addition to the purchase price?
– BOI Application Fee : MUR 20,000
– Notary Fee : It amounts to approximately 1.15% of the acquisition price
– Registration Fee : 5% of the acquisition price.
Where will my deposit be held?
Your deposit will be held in an escrow account opened with a Mauritian registered financial institution or alternatively in the Notary’s trust account until the Deed of Sale is signed. Once the Deed of Sale is signed, the deposit is released to the Promoter as part of the selling price.
What other commercial facilities are planned ?
Provision has been made for development of a commercial facility called Banyan Village on the North entrance which will include boutiques, restaurants, bars, galleries and various attractions.
Does Royal Park offer beach access ?
Royal Park is a beach resort and offers access to the beach via the R Beach Club, located in Mont Choisy. A private beach section exclusively reserved to owners is part of the future developments.
Royal Park is located 10 minutes from Grand Bay. Will there be any transport facilities ?
Yes. As a member of the Club House, you are eligible to free transport back and forth to Grand Bay in Royal Park’s dedicated shuttles.
Should I buy a property, what are the existing facilties that will allow me to experience the Mauritian lifestyle ?
– The R beach Club: Beach side bar & Restaurant with spa and swimming pool
– The Park : A 9 hectare park in the heart of Royal Park with indigenous trees, plants and water features.
– The lodge : Located in Salazie, a nature reserve of 500 hectares providing a large range of activities
– The Sunseeker : Royal Park’s luxury boat that will make you discover the northern and western islands around the coast.
– The Club House: The Club House features a 25m swimming pool, a wellness and fitness centre, 3 tennis courts and a petanque court. The restaurant, Le Surcouf, is open daily for breakfast, lunch and dinner and the Lounge Bar is the perfect place to chill out after a hard day’s work.