IRS Land

Wikipedia:

The Integrated Resort Scheme (IRS) is an initiative of the Government of Mauritius in collaboration with the Board of Investment of Mauritius. This program is designed to facilitate the acquisition of resort and residential property by non-citizens on the island.

Until recent changes to legislation foreigners were not permitted to purchase property in Mauritius. In 2002 the Mauritian Government took the decision to open the market to foreign buyers on a restricted basis through this project named as IRS, which permits the construction and sale of luxury villas to foreigners in particular locations.

Through the IRS, international buyers can become Mauritian residents once they acquire a luxury property on the island.
 
 

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WWW.INTEGRATED RESORT SCHEME.COM

Welcome

The Mauritian landscape is lush and tropical, the beaches long stretches of white sands, the seas are turquoise and the sun shines all year (summer being October to April). It is also a politically stable country with a thriving economy. English is widely spoken and is the official language and is therefore used for documentation such as contracts.

Until recent changes to legislation foreigners were not permitted to purchase property on this island. In 2002 the Mauritian Government took the decision to open the market to foreign buyers on a restricted basis through a project named as IRS. The Integrated Resort Scheme (IRS), which permits the construction and sale of luxury villas to foreigners in particular locations. Under the scheme, outsiders are permitted to buy property with a minimum investment of $500,000 (about £250,000) plus a fixed land registration duty of $70,000. Once you have acquired a property, you, your spouse and family are granted resident status in Mauritius for as long as you own your property.

Tourism in Mauritius is currently thriving and increasing even beyond the expectation of government targets, with such a demand for holiday apartments the expected rental yields for such prestigious property are promising.

Please Enter our website for further details on how we can help you purchase your dream property in the paradise island* of Mauritius.
 
 
 
* just another day in Paradise…
https://mauricianismes.wordpress.com/2009/12/19/isle-of-man/
 
 
 

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Anahita, World Class Sanctuary
Luxury villas for sale
http://anahitamauritius.com

These last years the acronym “IRS” has become a mauritianism in its own right:

Quan[t] aux IRS, ils sont réservés à un segment très particulier, or ce segment qui a fait beaucoup d’argent sur les bourses se sent subitement pauvre, et les IRS auront à être revus en fonction des réalités du jour. Cette crise va toucher tous les secteurs de l’économie ainsi que le pouvoir d’achat, déjà érodé, des Mauriciens.” (Week-End, 21 September 2008.)

Hugely thankful we should be to our private sugar industry, especially the large estates, to the gated communities sprouting everywhere, to the IRS, to the high-end coastal resorts and to the ecotourism estates now peppering our landscape, for what they do for physical embellishment, architectural coherence & aesthetics, & for environmental upliftment, maintenance & preservation. Without them, surely we’d be surrounded & invaded by now by ugly & squalid slum-like dystopia!” (L’Express, 2 April 2010.)

Pensez-vous que les IRS et RES sont une aubaine pour la diversification de l’économie?” (L’Express, 18 June 2009.)

L’acquisition d’une villa dans un IRS confèrera le statut de résident à l’investisseur, à son conjoint et à ses personnes à charge.” (OECD report, 2006.)

L’implantation de ces IRS en milieu rural est jugée très importante par Raju Jadoo, le directeur du BOI (Board of Investment), au même titre que le contrôle du nombre de projets. “Nous ne souhaitons pas une multiplication des projets et nous ne voulons pas avoir des personnes qui font n’importe quoi, au risque d’altérer l’image de Maurice.”” (L’Éco Austral, July 2007.)

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4 réponses à “IRS Land

  1. The letters IRS are of evil import to Americans, especially in the month just past.

  2. Siganus K.

    Yes, John, I knew that. I have read Largo Winch. But I’m sure there can be still other meanings for the three letters “IRS”.

    (So it was last month ? Just like us, for the first time in April this year. I have even received a receipt by post, something which didn’t exist in the past, when “they” used to just take your money without acknowledging it.)

  3. I don’t know if a receipt is returned or not; it’s been many years since I had to pay, because I overpay during the year and so get a small refund. This year, however, the refund was about three times the size it ought to be. I thought that it was I who had made a mistake, but no, a 3 had been entered as a 9 by some clerk. So now they want 2/3 of the money back! Fortunately I will be able to repay soon.

  4. Siganus K.

    John, if I were you I’d write to them to say that I had already bought a villa on Mars with this money.

    But the question should also be: when you got your refund, did you send them a receipt? If not, they would need to prove that you are the one who received the money.

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