MAURITIUS Law and Practice Contributed by: Sameer K Tegally, Sonia Xavier and Ashvan Luckraz, Venture Law
2.4 Right to Appeal EDB
• The non-citizen shall not use the apartment for any purposes other than those for which the authorisation has been granted. • The non-citizen shall not transfer or dispose of the apartment without authorisation and under such conditions as may be imposed. • The non-citizen shall not engage in any prop - erty speculation whatsoever and an authori - sation shall be valid for six months. • Any non-citizen acquiring an apartment shall not be eligible to make an application for the status of resident in Mauritius. • The land duties and taxes shall be paid on the present market value of the immovable property, which may be subject to review by the Registrar General. • The shares of the company (where applica - ble) shall not be disposed of, in any manner, without prior approval under the Non-Citizens (Property Restriction) Act. Conditions attached applicable to resident non- citizens in Mauritius are as follows: • The residential property may be used as a personal residence only and not for any other purpose. • Only one residential property may be pur - chased or acquired. • The property purchased should not exceed 0.5276 hectare (1.25 arpent). • Where a plot of serviced land/bare land is acquired, the residential property must be built on the land within a period of five years from the date of its acquisition. • The property cannot be disposed of with - out the authorisation of the Prime Minister’s Office, and in accordance with the applicable legislation, and upon such conditions as may be imposed. • The non-citizen shall not engage in any prop - erty speculation whatsoever.
There is no review on non-authorisation from the EDB. An authorisation will be granted if the criteria are met. FSC A Review Panel conducted by the FSC has been established; however, it shall not hear an appli - cation relating to a decision on not granting a licence, approval or authorisation for the con - duct of a financial services activity. Immovable Property An action can be brought before the Supreme Court on disputes relating to immovable prop - erty. 3. Corporate Vehicles 3.1 Most Common Forms of Legal Entity The corporate vehicles available in Mauritius include: • companies; • partnerships ( sociétés ); • limited partnerships; • trusts; and • foundations. Companies Companies may be private or public. A com - pany is deemed to be a public company unless it is stated otherwise in its application form for incorporation or its constitution. A private com - pany cannot have more than 50 shareholders and cannot offer its shares to the public. A company may be set up as follows: • limited by shares (most common);
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