For many South Africans Mauritius is a destination of choice to invest in offshore property – Mainly for a Rand Hedge, good return on investment, excellent capital growth, strong global business environment,ease of accessibility and compelling investment, taxation and residency options.
Beyond the undeniable natural, cultural and social assets that have made Mauritius a very popular tourist destination, the island offers great benefits for happy, healthy, safe and fulfilling retirement. With pleasant weather all year round, lush nature and enviable quality of life, warm and friendly people, excellent Health facilities with highly experienced medical staff, Mauritius is often listed among dream destinations for comfortable retirement and is a perfect example of harmonious cultural, religious and linguistic diversity.
There is more to Mauritius than its picturesque beaches and easy island living.
A stable government, safe living conditions, excellent medical and education facilities are but a few of the reasons the country is attracting a lot of interest from South African Investors and businesses.
The property market in Mauritius continues to thrive, several years after the government decided to open up the island to foreign buyers.
The stability and growth of the economy has encouraged many to invest in Mauritius and even make a life in the country.
Low taxation rates of only 15 percent, No Capital gains or Inheritance tax, a thriving financial services sector , ease of doing business and idyllic environment for permanent residence or leisure use , all contribute to an enabling environment for investment.
Beautiful white beaches, friendly people, cultural diversity and perfect tropical weather are some of the reasons why a growing number of Tourists choose Mauritius, as their Holiday destination.
Mauritius is fast becoming a destination of choice for both large and small businesses to operate in , mainly due to the growing economy and the Government’s pro-business environment and initiatives which offer fast and efficient support systems . This pro-business environment has resulted in Mauritius being ranked No 1 in Africa for the ease of doing business.
The Work Permit, Residence Permit have been combined into one single permit.
Validity of an Occupational Permit (OP) and a Residence Permit for retirees lengthened from 3 to 10 years renewable. The minimum investment amount for obtaining an OP reduced from USD 100,000 to USD 50,000.
The minimum turnover and investment requirement for Innovator Occupation Permit removed. The spouse of an OP holder will not need a permit to invest or work in Mauritius. OP holders will also be allowed to bring their parents to live in Mauritius, as their dependents. Professionals with an OP and foreign retirees with a Residence Permit will be able to invest in other ventures without any shareholding restrictions.
Non citizens can buy property in approved resorts:
Integrated Resort Scheme, (IRS), Real Estate Scheme (RES), Invest Hotel Scheme (IHS), Property Development Scheme (PDS), Smart City Scheme (SCS). Permanent Residence (PR) attached to the property is granted when buying property in these resorts at a price per property above USD 375,000.
Non-citizens can also buy apartments outside of the above resorts provided the apartment:
– is situated in a Ground + 2 building situated on FREEHOLD land
– is sold at a minimum selling price of MUR 6,000,000
Any non-citizen who has acquired an apartment in a Ground + 2 building for a price exceeding USD 375,000 (or its equivalent in any convertible currencies) may apply for a long stay visa.
A long stay visa allows a non-citizen and his dependents to stay for a consecutive period of 10 years, renewable. It remains valid so long as the non-citizen holds the apartment.
As well as the government schools, Mauritius now has a large number of international private schools of a high standard.
Mauritian schools offer some of the top internationally recognised school programmes, both in English and French.
The country also has tertiary institutions which work in partnership with well-known universities such as the Université de Paris Dauphine or the IAE leading to BA and MBA qualifications.
Mauritius has become a firm favourite destination for foreign investors due to its stable political system and positive economic growth over many years.
FISCAL/TAX ADVANTAGES: • Corporate tax of Maximum 15% • Personal Income tax of Maximum 15% • Value-Added Tax (VAT): 15% • Corporate Social Responsibility (CSR tax): 2% on book profits • Land Transfer tax: 5% • No capital gains tax • No inheritance tax • Exemption from customs duty on equipment in specified industries • Repatriation of capital and profits . No exchange controls.
The climate in Mauritius is largely tropical, with warm to hot weather throughout the year, which is perfectly suited for Holiday makers and residents.
The trade winds from the east help moderate the temperature on Hot and Humid days.
The northern and western areas of the island tend to be warmer and drier than the eastern and southern regions of Mauritius.
There is a wide choice of medical and emergency services across the island.
Both public and private Hospitals /clinics have modern equipment/ infrastructure, and highly trained, experienced doctors/ Medical staff.
The High Medical standards have enabled the country to position itself as a hub for medical tourism.