|
Project under Invest-Hotel Scheme (IHS)
Approval of project
A hotel project under the Invest-Hotel Scheme must be approved
by the Board of Investment. On approval of the project, an IHS certificate is
issued to the company for the construction of a hotel where units (rooms,
villas, apartments or suites) and other parts of the hotel can be sold.
Extent of Land
A hotel project under the scheme can be developed on either
freehold or leasehold land. The land, however, must be of an extent of at least
1 hectare.
Basis of sale
The units or parts of the hotel may be sold on:
-
the basis of a plan
-
during construction phase or
-
when the construction is completed.
On acquisition, the buyer of a unit secures ownership title to
a specific unit or part of the hotel.
The definition and management of the units and other parts of the hotel are set
out in a "règlement de copropriété" which is governed by the provisions of the
Mauritian Civil Code.
Eligibility for purchase of hotel rooms, villa or other parts of a hotel
The following may acquire a unit under the scheme:
-
a citizen of Mauritius
-
a non-citizen
-
a company incorporated in Mauritius
-
a société (partnership) registered with the Registrar of Companies
-
a trust managed by a trustee licensed by the Financial Services Commission
Investment in acquisition of a unit or other part of the hotel
-
No minimum investment in acquisition of a room, suite or other part of the
hotel
-
Minimum investment of US$ 500, 000 for stand alone villa
|
