Whether you want to retire or emigrate to an idyllic Indian Ocean island or invest in a holiday home, Mauritius just keeps getting better, says Severine Dalais-Pietersen, Administrative and Marketing Executive for Seeff Mauritius.
The country has become a sought-after destination for property buyers including South Africans for a range of reasons such as the easy access. The World Bank has upgraded its status to a high-income country. This, she says will no doubt further boost investment and demand from South Africans wishing to retire offshore, invest in a holiday home or consider emigrating or taking up dual residence.
The investment required to obtain Permanent Residence (PR) in Mauritius has also been reduced to further entice investment into property. You can invest in one of the IRS, RES or PDS schemes for just USD 375 000, reduced from the previous USD 500 000, she says further.
Aside from the attraction of an island lifestyle and great amenities including schools and a well-established university, Mauritius offers favourable investment laws.
You can freely repatriate your funds if you ever sell your property. You can also earn good rental income on holiday properties.
A foreigner who spends more than 183 days of the tax year can be tax domiciled in Mauritius. The country has non-double taxation agreements with 43 countries including South Africa. Being a Mauritian tax resident includes advantages such as no inheritance duties or tax on profits, dividends and capital gains are tax exempt and a fixed rate of 15% tax for individuals and companies.
There are exciting developments to invest in in the sought-after northern area, she says. For example, we will soon be marketing a new development well located and within walking distance of the beach. Prices range from around ZAR 4,71 million for a two-bed apartment and from ZAR 5,75 million for a two-bed penthouse. This type of development offers excellent investment returns.
Other hot new developments for South Africans marketed by Seeff include:
New luxury waterfront development
This spectacular new 22ha luxury water village in the north of Mauritius offers sea views and direct beach access, stunning tropical landscaping, a two-kilometre freshwater canal for kayaking, eco-friendly building and energy-efficient installations and equipment.
Residents will have access to essential products and services including a small supermarket, pharmacy, 24/7 medical assistance, bakery, various shops, and the use of amenities such as the swimming pool, gymnasium, concierge, kids’ club and spa.
There are various property options available for buyers including luxury villas in a choice of designs and sizes, offered at attractive prices, range from around ZAR 3,5 million (USD 208,194) excluding taxes for a one-bedroomed apartment and ZAR 83,8 million (USD 5,083,333) excluding taxes for a luxury five-bedroomed villa of 858sqm.
Ki Resort
This spectacular new resort is located on the north coast of Mauritius, close to the beautiful beach of Péreybère. The estate is designed around an impressive swimming pool and offers charming two and three-bedroomed apartments and penthouses with a rooftop terrace and private pool. The 5-star amenities include a gym, rooftop terrace, beach club, concierge service and more).
Prices range from around ZAR 4,125 million for a two-bed apartment up to ZAR 8,26 million for a three-bed penthouse.
Contact Seeff Mauritius by email at mauritius@seeff.com or https://mauritius.seeff.com/.
Author: Gina Meintjes, 27 July 2020, International