INTERNATIONAL
Outside of the EU
Outside the EU there are several programmes to consider . Mauritius , for instance , is currently one of the least expensive options for South Africans seeking to obtain a permanent residency-by-investment . According to a leading Mauritian real estate agency , Park Lane Properties , it ’ s possible for non-citizens of Mauritius to obtain an immediate permanent residence by investing a minimum of $ 375,000 in certain types of property – the well-known IRS , RES and PDS developments as well as Smart Cities and Ground + 2 apartment developments .
‘ This amount is equivalent to the lowest property investment requirements among those European Union countries that do still offer residence-by-investment , and substantially less than the most expensive Golden Visas . However , in Mauritius there are now also options to gain ordinary residence as an investor , selfemployed person , professional or retired non-citizen .
‘ What ’ s more , Mauritius is only a four-hour flight from South Africa and offers a great climate and lifestyle as well as a thriving , growing economy ,’ says Philippe de Beer , CEO of Park Lane Properties .
Prately points out that there are plenty of other countries that also have similar citizenship-by-investment programmes , such as many Caribbean nations , like Grenada , the USA with its EB-5 visa , and Cyprus ' s fast track programme . It ’ s important to drill down into the terms and conditions if you ’ re considering such alternatives . With America ’ s EB-5 , for instance , eligible immigrants must invest a minimum of $ 1,050,000 ( R19,537,319 ) in a local business and employ 10 Americans . The investment can be reduced to $ 800,000 ( R14,885,576 ) though if the investment is made in a targeted employment area ( TEA ). These are defined as areas where there is a high level of unemployment or if the business is in a rural area .
The options for residency and citizenship are still many and varied but it ’ s important to consider all the options and the facts before committing . Prately adds : ‘ Whatever becomes of the Portuguese Golden Visa residency permit , it will not signify the end of alternative residency and citizenship options for South Africans who wish to emigrate , establish a Plan B and / or provide greater options for themselves , their loved ones , and future generations .’
Angelique Ruzicka
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