Covid crisis and real estate project in Mauritius: there is a before/after. We know that. The various border closures were experienced differently. But the whole company was impacted... before it bounced. What has VOCID changed in the trends of real estate projects in Mauritius? Let's take stock.
Challenges faced by real estate investors during the crisis
The health crisis has led to the introduction of closing speed the consequences of which have been multiple on the behaviour of investors. Investments in non-real estate products have been negatively impacted by market pressures.
In the real estate sector, firms that did not develop upstream teleworking structures had to adapt or cease their activities. Indeed, it is obvious that the dependence on prospecting and physical visits that have become impossible has affected many actors in the real estate sector, and in particular real estate agents.
Health crisis: What lessons can be learned?
To secure a future and providing opportunities for investors in Mauritiustwo major lessons have been learned since the end of the health crisis.
- First, The recovery proved to be very favourable for highly digitised enterprises. On this point, the information and communication technology sector has been favoured, to the detriment of more traditional branches. Real estate, having already started in part its digital transformation, is part of the gainful sectors of foreign investment.
- On the other hand, and especially for real estate, there is a need to diversify the offer of real estate investment. Real estate investors are pushing for a long-term offer, often also focused on ecological habitat. For example, real estate is particularly successful in the game, especially in relation to the stock market, which is still showing signs of febrileness.
Real estate, a more promising investment framework in Mauritius than ever before
Mauritius, a welcoming land for good business
In the face of the stock market that has become febrile, real estate has a very good image. The Government of Mauritius In recent years, it has been possible to set up arrangements that are favourable to foreign investors. Indeed, the attractiveness of this small state remains real even after the VOCID. The great qualities of Mauritius remain undeniable.
Mauritius is a reputable state of great stability, offering interesting tax opportunities. And of course, the territory has an idyllic profile, due to its renowned climate, its softness of life and a welcoming population.
Since 2018, Mauritius has become a land most conducive to business. And the quality of infrastructure is still improving since the end of the health crisis.
Finally, the excellent reputation of the Mauritian labour force. This fact can only accentuate the investor confidence.
The long term, luxury and green real estate projects are at the forefront
Mauritius is known for its very high construction activity, with a remarkable revival since 2019. The highly favourable conditions created by the government have created a very high demand for sustainable real estate projects.
Europe is particularly targeted, its nationals choose Mauritius not only on a seasonal basis, but also to settle there.
On the other hand, VOCID has brought about a new and increasing requirement, the concept of ecological standards.
Being accompanied to better secure your investments
Knowledge of government measures
To attract businesses, professionals and real estate investors, the Government of Mauritius has implemented generous measures.
One of the latest is no more than the abolition of administrative costs taxed until then when a company was established. Whether you are local or foreign, creating your company in Mauritius is now free.
The operation was already considered rapid. Indeed, thanks to a particularly reliable and efficient business creation platform, the process can be carried out in two hours. This speed is reinforced by the fact that a maximum period of one week is also required to open a bank account. This applies to individuals and professionals alike.
More generally, it is important to know the tax advantages when moving to Mauritius.
A set of state aids
Finally, it is interesting to note that certain conditions for acquiring real estate may lead the Mauritian government to grant resident status to the purchaser.
An expatriation project? You have good reasons for choose Mauritius. Entrepreneur, student, retired, or active investor, you will make the choice of a business-friendly territory as much to live in.
It is recommended, however, that a local real estate agent, experienced in the field. Indeed, he will be aware of all the legal developments. In addition, it will direct you to the various favorable devices that suit your situation.
If you would like to know the various existing permits in Mauritius, I recommend you go for a tour of the site of lEDB, very complete.
If you have any questions, I will remain at your disposal, Don't hesitate to contact me.
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