A: Villas de Tamarin is a Real Estate Scheme (RES) approved in terms of the Mauritian Governments initiative to promote foreign investment into Mauritius.

A: Villas de Tamarin is situated in Tamarin Bay which is situated on the South West coast of Mauritius.

A: The project will comprise of five stand alone villas, six ground floor and six first floor apartments which will either have sea views or sweeping views onto Montagne du Rempart, Trois Mamelle and La Tourelle. The design will be a mixture of contemporary clean lines incorporating natural volcanic rock to blend in with the unique Mauritian feel to the overall concept. Each unit will have its own private plunge pool and viewing decks in hard wearing timber to cater for the harsh climatic conditions. The design of the units has been done being mindful of the cyclone season and the local architect has taken care that the design and quality of the finish and material caters for this. The units have been positioned to maximize the views and provide the owners privacy whilst relaxing on their decks.

A: For detailed explanations on the RES scheme we refer you to the BOI website www.investmauritius.com

A: All purchasers subject to approval by the Mauritius Board of Investment and the payment of the mandatory fee of USD 25 000, will be eligible to residency in Mauritius for the period that they remain owners of their RES property.

A: The Estate will initially be managed by the developers however only until the owners have elected a Homeowners Association. Thereafter the HOA will be tasked with the management of the Estate.

A: April/May 2009

A: Approximately 18 months

A: Yes the development was the first project to be issued a RES Certificate which included a condition that all Land and Building Use Permits needed to be approved and issued prior to the issue of the RES Certificate

A: Each of the units will have a small plunge pool.

A: Purchasers will have a PC allowance of Rs 100 000 to purchase white goods such as refrigerators and washing machines. All soft furnishings and furniture will be for the purchasers account. Purchasers will, at their election and cost, be able to retain the Development’s Interior Designer to assist in soft furnishings.

A: ADSL lines and telephone points will be installed. The cost of continued connection will for the purchasers account. Centralised satellite dishes for both Canal Plus and DSTV will be installed.

A: The HOA will be responsible for the ongoing security however in the initial stages at least two security guards will be commissioned to supply security.

A: At the cost of the purchaser an interior furnishings package will be offered. Participants in the Rental Pool are obliged to take the interior furnishings option. This package is still being finalised with the Interior Designer

A:

Architect:        Jean-Michel d’ Unnienville
Quantity Surveyor:     Milestone Construction Consultants Ltd
Structural Engineers:     Daniel Wong
Project Managers:     Keystone Project Management Co Ltd
Legal Advisor:         Miro Dvorack
Notary:             Robert Avrillon
M&E consultants :    Manser Saxon Contracting LTD
Land Surveyor :        Gexim Land Consultants LTD

A: Approximately 1 Hour drive.

A: There are a number of retail shopping facilities within 8kms of Villas de Tamarin.

A:

Yes owners will be eligible to membership and preferential rates will apply. Membership will be Euros 2 500 per annum for 2009.

A: If an owner chooses to rent out the villa then the tenant will have access to the Tamarina facilities and preferential rates will apply.

A: Negotiations with banks are in progress. These negotiations will be between the bank and the purchaser once the initial introduction has been done.

A: Yes

A: The sale shall include a completion bond - Garantie Financiere d’Achevement (GFA) issued by a Financial Institution (Bank) as required in terms of Articles 1601-31 to 1601-37 of the Mauritian Civil Code. Essentially this means that the bank is guaranteeing that the development will be completed irrespective of what situation the Developer finds himself in.

A:

In terms of the Mauritian Civil Code (which is based on the French Napoleonic Code), the buyer is well-protected to ensure that they are guaranteed full delivery of the villa they have contracted to purchase. Before the signing of the Deed of Sale (DOS) between the seller and the potential buyer, a Preliminary Reservation Contract (CRP) is entered into by both parties. The potential buyer lodges a deposit with an independent escrow agent, equivalent to 5% of the purchase price on the DOS.
This secures and reserves the selected villa until such time as a DOS certificate is signed.  In the event that the approval to purchase a unit is declined by the Mauritian government, the 5% escrow deposit will be returned to the buyer. Upon approval by the Mauritian authorities for the buyer to purchase a villa, the CRP is replaced by a DOS, whereby the buyer provides an acceptable bank guarantee for the full purchase price. The developer then issues the buyer with a bank completion guarantee (GFA) and the freehold title to the land is registered by the notary in the name of the buyer.
In accordance with the provisions of Article 1601-30 of the Mauritius Civil Code, the price on the DOS is payable as certain events happen and as the work progresses, namely:

 

• 30% on signature of the deed of sale (includes release of the 5% escrow deposit) together with the 5% transfer tax and the US$70 000 registration duty
• 5% on completion of the villa foundations
• 35% when the roof is completed and the villa is closed in
• 25% on completion of the villa in terms of the DOS
• 5% when the villa is made available to the buyer (all construction related payments certified by independent professionals prior to payment)

 

 

A: The developers are negotiating comprehensive insurance packages for unit owners.

A: The project will, after completion, be subject to a co-ownership regime (reglements de co-propriete de l’ensemble immobilier “villas de tamarin”) based on the provisions of articles 664-1 to 664-96 of the Mauritian Civil Code. The co-ownership regulations and the description of the apportionment will be drawn up by the Seller prior to the sale, if finalised. The aim of this development will exclusively be for residential purposes. Cost allocation will be based on the associated square meters of the units and the use of the common services and shared equipment as per the provisions of article 664-13 of the Mauritian Civil Code.

A: Home Owner’s who choose to enter the Rental Pool will be billed separately for those service costs which are specific to the rental pool. This process is more fully explained in the Principles of the Owners Rental Pool.

A:

TThe following indicative cost structures will be included in the Home Owners Association Levy.

1.1  Public Areas

• Garden Maintenance, Waste collection & disposal, Road Cleaning

1.2  Mechanical & Electrical Plant

 

• Sewerage Treatment Plant: Operations, Maintenance, Parts, Energy
• Water Storage & networks: Maintenance, Parts, Energy
• Estate Generators: Operations, Maintenance, Parts, Energy
• Electrical Plant: Operations, Maintenance, Parts, Energy
• Infrastructure Networks: Operations, Maintenance, Parts, Energy

1.3  Estate Security

• Manning, Equipment, Operating Costs

1.4  General Building Maintenance Reserve (CAPEX fund)
 

• The Homeowners Association will be responsible for establishing, managing and implementing the mechanics and quantum of this fund. The objective of this fund is to manage, update and/ or repair the aesthetics as well as capital plant of the estate.

1.5 Swimming Pools

• The cleaning the swimming pools (including chemicals) will be outsourced to an independent third party and the costs thereof will be included in the monthly levy. This arrangement will be obligatory for all unit owners.

 

A:

The indicative cost for the Monthly Home Owners Association Levy is from MUR 10 000 to MUR 21 000 / month depending on the size of the Residence

 

The costs that are included in determining the monthly levy are summarised as follows

• Accounting and bookkeeping
• General Building Maintenance Reserve
• Insurance Buildings only
• Security
• Mechanical and electrical maintenance (Common)
• Management Fee
• Garden maintenance
• Gardener etc
• Pool maintenance and cleaning
• Pest Control (Common)
• Electricity and water (Common)

 

A:

Any OWNER making his unit available for inclusion in the RENTAL POOL shall do so for a minimum initial period of three years and shall be obliged to purchase one of the furniture packages available. All owners shall be bound by the detailed RENTAL POOL AGREEMENT which shall form part of the Deed of Sale, the salient features being summarised below.

RENTAL POOL means the total income received by the MANAGING ASSOCIATION in respect of the use by the MANAGING ASSOCIATION of all PARTICIPATING TAMARIN VILLAS LTD UNITS for the purposes of a rental operation during a calendar month.

PARTICIPATING TAMARIN VILLAS LTD UNIT means A UNIT which has been “sold” to the MANAGING ASSOCIATION in terms of this agreement and which is available to produce income for the RENTAL POOL

OWNER’S SHARE means

{the amount due to the OWNER at the end of each calendar month being the RENTAL POOL for such calendar month together with interest earned thereon, less operating liabilities/costs later referred to herein},

divided by {the total sum of the number of the product of the participating UNIT nights multiplied by the relevant PARTICIPATING UNIT FACTOR},

multiplied by {the number of nights the owner or his guest did not use the UNIT in that month i.e participating UNIT nights applicable to that owner, multiplied by the PARTICIPATING UNIT FACTOR applicable to the unit}

less all/any amounts due by the OWNER to the MANAGING ASSOCIATION such as monthly levies due in respect of the UNIT .

PARTICIPATING UNIT FACTOR means the factors are based on the square meters of each UNIT category

A:

Please find the information you require on these websites:

• http://www.mauritius.net/index.php
• http://www.gov.mu/portal/site/Mainhomepage/menuitem.cc515006ac7521ae3a9dbea5e2b521ca/
• http://www.tourism-mauritius.mu/

A:

Doing Business 2008 released by the World Bank and International Finance    Corporation (IFC), ranked Mauritius 27th (2007- 32nd) out of 178 economies in terms of the ease of doing business and 1st in Africa, displacing South Africa who rank 35th, falling 6 places from last year. The major economies in terms of ease of doing business are ranked 1st Singapore, followed by New Zealand and the US.

 

The benefits of a very low rate of corporate and personal income tax (15% in both    cases), the absence of inheritance and capital gains taxes, as well as the existence of a    number of double taxation agreements.

 

No exchange controls or restrictions on the flow of funds in and out of the country.

 

In Mauritius, an individual may opt for either a ‘country’ based tax where all assets are    subject to income tax in Mauritius, or for the ‘international’ tax position where only   money brought into Mauritius is taxable in Mauritius. The provisions of the relevant   double taxation treaties which Mauritius holds with your country of origin would need to   be reviewed and you are advised to consult your own tax specialist regarding your  individual status, relating to either any taxation or exchange control issues in your  country of citizenship or residency.

 

The possibility of using Mauritius as a gateway to India, Africa, Asia and the Middle East.

 

Regular flights to all major international destinations.

 

The education sector boasts several schools of international standard, both public and private, delivering the Cambridge University A’ levels, the French Baccalaureate and the International Baccalaureate. Several tertiary education providers can also be found, offering internally recognized degrees and post-degree qualifications.

 

A:

Geography

 

Mauritius is located approximately 2,000 kilometres to the south eastern coast of Africa and lies east of Madagascar on 20°5, 57.5E. The country covers an area of 1865km with 330 kilometres of coastline. Mauritius is 45km in width and 65km in length.

 

Government

 

Mauritius is a democratic state based on the Westminster model and enjoys political stability.

 

Visas

 

Visitors from most countries do not require a visa. To enter one needs a valid passport and a return ticket. If in doubt contact any Mauritian Embassy. Upon arrival all visitors are requested to state where they will be staying.

 

Health

 

No vaccinations are required. However a yellow fever vaccination certificate is required for travellers over 1 year of age who arrive from areas where yellow fever cases are reported.

 

History

 

Of volcanic origin and generally sheltered by barriers of coral reefs forming natural, safe, crystal clear lagoons, Mauritius has long been a dream destination. Known to the Arabs as early as the 10th century, but officially discovered in 1505 by the Portuguese navigator Pedro Mascarenhas, the island was occupied successively by the Dutch (1598-1712) and the French (1715-1810), and was ceded to Great Britain in 1814 through the Treaty of Paris. On 12 March 1968, Mauritius became Independent. Republic Day was proclaimed on 12 March 1992.

 

A: 15% tax is due

A: Yes, subject to the submission of the key documents in terms of FICA.

A: Yes you are entitled to bring in your personal belongings over once you have received your Residence permit.

A: Yes it is possible to bring your car over. There is 100% import duty charged on a vehicle less than 18 months old.

A: Mauritius has a variety of different clinics and hospitals. There is a clinic based in Flic en Flac which is 15 minutes drive from Villas de Tamarin. Clinique Darné is located in Floreal which is approximately 40 minutes from Villas de Tamarin. Apollo Bramwell Hospital is situated in Moka. Please visit the website for further information. http://www.apollo.mu/

A: There is a private doctor’s room based in Tamarin just off the coastal road approximately 10kms from Villas de Tamarin. There is also a clinic located as you drive into Tamarin below Cap Dal.

A: The education sector has several schools of international standard, both public and private, delivering the Cambridge University A’ levels, the French Baccalaureate and the International Baccalaureate. Several tertiary education providers can also be found, offering internally recognized degrees and post-degree qualifications.