Mauritius | Real Estate

October 10, 2011

Non-citizens now allowed to buy property

Friday, the Cabinet met in Port Louis under the chairmanship of Prime Minister Dr Navin Ramgoolam.

Several issues such as the PM’s presence at the United Nations General Assembly, the Property Valuation Bill, granting of permanent residency to non-residents as well as the reconstitution of the Lois Lagesse Trust Fund under the chairmanship of Coomaravel Pyaneandee, were discussed.

The Cabinet also agreed that a non-citizen who has been granted a permanent resident permit under the Immigration Act will be allowed to purchase an apartment in a block of residential dwelling of not less than three storeys, as personal residence.

It aims to give a boost to the construction sector. All applications will be made under the Board of Investment (BoI).

PM condemns unlawful occupation of Chagos by UK Prime Minister Dr Navin Ramgoolam condemned the unlawful occupation of Chagos by UK at the 66th session of the UN General Assembly. He also drew attention to the purported declaration of a Marine Protected Area around the archipelago and announced that the Mauritian government has initiated arbitration proceedings against UK under the UN Convention on the law of the sea. Ramgoolam also expressed concern over the threat posed by piracy in the Indian Ocean and added that Mauritius has offered to assist with the prosecution and detention of pirates.

He also drew attention to the vulnerability of the small island developing states (SIDS), whose economies are highly volatile.

Property Valuation Bill soon in Parliament The Cabinet took note of the Property Valuation Bill, which will soon be introduced in the National Assembly. It will ensure the setting up of the valuation component of the land administration, valuation and information management system project.

The bill will provide for property valuation and methodology and the creation of a database of market values.

Business Jets Ltd to operate on-demand regional flights Business jets Ltd will operate an ad hoc charter for regional flights and Air Ambulance Service. This will an on-demand unscheduled corporate aircraft service from Mauritius.

Business Jets Ltd proposes other flexible services targeting business executives in Mauritius, high-end tourists and IRS residents.

Lois Lagesse Trust Fund to be reconstituted

The cabinet of ministers also took note that the Lois Lagesse Trust Fund board will be reconstituted and Coomaravel Pyaneandee will be appointed chairman.

Text by the Independent
 

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