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Sunday, June 16, 2024

Mauritius Remains Attractive To South African Investors

As more South Africans seek a change of scenery to live, work or invest in, Mauritius continues to feature high on the list.

Since the sharp uptick in demand for property in Mauritius since 2021, the tropical island remains attractive for its natural beauty, hospitable tax regime, security, and liberal property market. 

According to Park Lane Properties head of South African operations, Leana Nel, more South Africans are researching the island lifestyle and exploring investment opportunities. 

“There are several reasons why South Africans want to retire, live, or invest in Mauritius. The country has a stable economy and a strong tourism industry. Mauritius is a member of the Commonwealth of Nations. This means that citizens of Commonwealth countries can travel to Mauritius without a visa.”

“Mauritius has a favorable tax regime, with no income tax, capital gains tax, or estate tax. The cost of living in Mauritius is relatively low, and the country has an efficient healthcare system. Finally, Mauritius is a beautiful country with a temperate climate and a diverse landscape,” she said. 

A cost effective option

Mauritius is also currently one of the least expensive options for South Africans seeking to obtain permanent residence-by-investment in another country. 

Its “golden visa” is poised to become more highly sought after since Portugal – the most popular residence-by-investment destinations in Europe – announced that it is closing its “golden visa” programme and will not be accepting new applications.

On the island, a four-hour flight away from South Africa, non-citizens can obtain immediate permanent residence by investing a minimum of US$375 000 in certain types of property – the well-known Integrated Resort Schemes, Real Estate Scheme and Property Development Scheme developments as well as Smart Cities and Ground+2 apartment developments.

“The growth in interest in investing, buying property and living in Mauritius has driven our programme to host one on one appointments around the country next month,” Nel said. 

Talk to an expert

Park Lane Properties, a leading Mauritian real estate agency, will host these appointments on March 9 and 10 in Umhlanga in Durban, March 13 to 15 in Johannesburg and on March 17 and 18 will be in Cape Town at the Emigration Expo. 

“As a leading Mauritian real estate agency, with almost 20 years’ presence in this market, we have the expertise to make our clients’ path to residency as smooth as possible, as well as the ‘inside track’ on the latest and best listings available to foreign buyers.”

“In addition, we pride ourselves on providing a high-quality, personalised service and developing long-term relationships with our clients as their trusted property advisers. To further assist those in South Africa, we have also now appointed international relocation expert Leana Nel as our local representative,” said Park Lane Properties CEO Philippe de Beer.

Parkland Properties head of South African operations Leana Nel is available to discuss:

  • The growing interest from South Africans in living, investing and buying property in Mauritius. 
  • The property market in Mauritius.
  • The “golden visa” and other opportunities.

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