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why invest in mauritius
Why are so many South Africans Moving to Mauritius?
Research conducted by New World Wealth shows that South Africans, particularly those with a
‘high net worth' are increasingly choosing Mauritius over countries like Canada, Australia and the
USA when they live abroad. In fact, there are entire districts in which there are now so many
South African residents, that you might begin wondering if just about everybody in SA is moving
to Mauritius. We examine some of the reasons why Mauritius is proving to be such an attractive
choice for South Africans.
The Property Development Schemes
Buying a premium residential property worth a minimum of $500,000 gives the buyer and his or
her family official residents' status, and in the course of time, residents may apply for full
citizenship. With a jittery South African economy and growing fears for the future, many people
are taking advantage of the opportunity of having official residents' status and an easy citizenship
option ‘just in case'.
For others, the attraction lies in an offshore property investment that seems likely to enjoy
excellent growth in value. And of course, if they don't live there all year, their properties can
generate income through the growing self-catering accommodation market.
If you could run your business from anywhere, where would you choose to live?
Increasing numbers of people are now running their businesses online. If you could choose
between an office in Sandton and a cosy pad on West Island, what would you do? The climate is
magnificent, the surroundings are stunning, and you can hop over to South Africa quickly and
easily without having to endure a marathon flight every time you do so.
To crown it all, the Mauritius government is actively working on attracting investment from South
Africa with incentives that include double taxation agreements with SA. Personal income tax is
capped at 15%, there is no inheritance tax and no capital gains tax. All of this within an economic
climate which, unlike the South African one, is showing strong growth and increased
competitiveness on the international scene, Mauritius is ranked as the 20th globally and 1st in
Africa for "ease of doing business" by the world bank.
You get to feel at home
South Africans love seeing all their favourite brands and many of their favourite shops. You can
still speak English to just about anybody and be understood, you can watch DSTV or shop at
Woolworths and a visit to the mall won't leave you feeling as if you've been shopping in a foreign
country. And if you miss the folks back home, you can be at OR Tambo airport in less than four
Good infrastructure, low crime
Eskom's on-again-off-again load shedding hurts businesses and inconveniences private
households, and SANRAL seems set on ensuring that freeways won't be free any more. But there
are no such concerns and annoyances in Mauritius. The crime-rate is low. Motor vehicle theft
would be practically pointless since there are no handy neighbouring countries to whisk a stolen
car off to and just about nowhere to hide one. There are, it seems, many reasons behind the
choice of Mauritius as a safe, friendly haven for South Africans.