Investing in Mauritius Property Investing in Mauritius Property | Page 12

THE
DEMAND
(Buyer Perspective)
In the 2018 Budget, Mauritius officially opened up
to the world by enticing foreign HNWIs to obtain
citizenship and Mauritian passports against payment
of USD 1m and USD500k respectively. This is likely to
generate fresh revenue for the public coffers, whilst
ensuring Mauritius remains a destination of choice.
Other schemes announced to this effect are a Foreign
Manpower Scheme and a new package of facilities to
attract foreign retirees.
The real estate sector is now looking to hitch its
wagon to fast-moving economies such as China,
India, Russia and the Middle East. The rapid growth
in emerging economies is crea ng huge poten al for
the tourism industry and the real estate market to
tap into.
Mauritius is one of the most popular countries for
expats looking to buy a second home. It offers great
tax benefits, a good education system and a low crime
rate. The excellent climate, beautiful beaches and
good flight connections add to the attraction of the
island country, while the main languages of English
and French make it an easy option for European
expats or investors. There’s a well-developed
healthcare system too, so foreigners are assured of a
high standard of medical treatment in an emergency.
Mauritius really is a picture-post-card-perfect tropical
island, just 61 kilometers long and 47 kilometers
wide, and surrounded by a coral reef. Its government
is one of the most stable and progressive in Africa
and has introduced deliberate and very successful
policies to diversity its economy and attract foreign
investment.
Some people – particularly South Africans & French
– are buying homes in Mauritius as a bolt hole or
an insurance policy. This opens up the door to
going to work in Mauritius or running your business
interests from Mauritius, where there is an extremely
attractive tax rate of 15 percent for both businesses
and individuals.
Another benefit is that there are no ancient indigenous
land claims, since the island was uninhabited before
the colonialists arrived. Most of the land is owned by
a handful of extended families, who have the right to
do with it as they please.