The costs of moving to Mauritius as an entrepreneur or retiree

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The costs of moving to Mauritius as an entrepreneur or retiree
The costs of moving to Mauritius as an entrepreneur or retiree

Africa-Press – Mauritius. Mauritius is rapidly expanding property investment opportunities for South African buyers as savvy developers pour capital into smaller designer properties that offer far more privacy than traditional resorts without sacrificing beachfront living.
And according to James Dall, managing director of High Street Auctions, the South African market appetite for these properties is overdrive. “Resorts are fantastic options for families looking to buy holiday homes in the midst of the hustle and bustle, where amenities and clubs abound to keep children entertained.

“However, the demographics of South African buyers in Mauritius are changing, largely as a result of the island’s economic growth, stability and exceptionally hospitable foreign-resident policy – ​​not to mention the obvious lifestyle attractions that make it a reality.

making it an eternal tourist hotspot. “The growing demographic includes retirees, entrepreneurs and commercial emigrants; a huge market segment for which long-term resort living simply does not work.
Their ideal alternative, according to Dall, lies in developments such as Eight Palms from Flic-en-Flac; a design building with just seven apartments that will be located directly opposite one of the most beautiful beaches in Mauritius.
“High Street will auction all seven sectional title units on August 11, and construction is expected to be completed within 14 months of the sale.

Families relocating for business purposes are just a 30-minute commute from the bustling commercial centers of Vacoas/Phoenix and Curepipe, Dall said.

“The educational facilities are also top notch.

Westcoast International Primary and Secondary schools are just 4 miles from Flic-en-Flac and provide English medium education with UK based syllabi – the International Primary Curriculum, the Cambridge Lower Secondary curriculum and the IGCSE, these are external exams that are instituted and marked by Cambridge in England.

” Dall said South Africans are flocking to Mauritius because investor-friendly government policies make it easy to obtain long-term residence permits

An excellent example is self-employed entrepreneurs, who are excluded from visa applications in more countries. Mauritius, on the other hand, welcomes them with open arms.

“Entrepreneurs can apply for a self-employment permit by depositing $35,000 (approximately R595,000) into a Mauritian bank account.

Their license is valid for 10 years with the main renewal criteria being the ability to prove an annual business income of MUR 800,000 (approximately R300,000) out of 3rd year of registration.

“The process is even easier for South African retirees who want to spend their golden years in paradise.

While this residency previously only covered three years, it is now a standard 10 years with the basic requirement that the person earn a recurring income of $1,500 (R25,500 at current rates) per month.

“The extension from three to ten years gives retirees certainty about their future in the country, especially if they have bought real estate.

And as an added incentive for retirees to choose the idyllic island as their permanent residence, they can apply for an extension from 10 to 20 years after staying on their original visa for three years.
Dall said an additional incentive for South Africans to buy property in Mauritius is that visitors are allowed to stay in the country for six months a year.

He said Mauritius has also succeeded in charting a highly growth-oriented development path that has enabled the country to achieve one of the highest per capita income levels in Africa, putting it in the league of high-income countries with a gross national income per capita of $12,740 (R216,500) in 2019.

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