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Mauritius affordable golden visa lures expat investors
| Published: | 6 Nov at 6 PM |
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With worldwide property investment still a favourite for expat professionals, Mauritius’s recent rule relaxation should prove of interest to those with spare cash.
Already well-received in the worldwide expat property investment community, Mauritius’s recent relaxation of several rules governing property and residency has resulted in a fairly dramatic surge in interest. As a result of the changes, the small Indian Ocean island and its 1.2 million population are now accessible to any expat with $500,000 to spare. For this amount, property buyers get residency, great weather, friendly locals, residency and that all-important second passport.
To date, buyers from South Africa are the busiest, attracted by villas overlooking the spectacular coastline as well as the fact that the island’s economy is one of the strongest in the whole of Africa as well as being one of the continent’s fastest growing. Overall, the government’s strategy is to brand Mauritius as Africa’s most desirable, luxury destination. The island’s Property Development Scheme requires a minimum investment of $500,000 and boasts other attractions such as a universal 15 per cent tax rate, no inheritance tax and no capital gains tax.
For those not particularly interested in permanent residency, around $176,000 exclusive of legal fees and tax will get a beachside property suitable as a holiday rental investment, and commercial office space can be had for far less. Daily direct flights to South Africa take five hours, making the location perfect for a weekend getaway or a long-term retirement in the sun.
Already well-received in the worldwide expat property investment community, Mauritius’s recent relaxation of several rules governing property and residency has resulted in a fairly dramatic surge in interest. As a result of the changes, the small Indian Ocean island and its 1.2 million population are now accessible to any expat with $500,000 to spare. For this amount, property buyers get residency, great weather, friendly locals, residency and that all-important second passport.
To date, buyers from South Africa are the busiest, attracted by villas overlooking the spectacular coastline as well as the fact that the island’s economy is one of the strongest in the whole of Africa as well as being one of the continent’s fastest growing. Overall, the government’s strategy is to brand Mauritius as Africa’s most desirable, luxury destination. The island’s Property Development Scheme requires a minimum investment of $500,000 and boasts other attractions such as a universal 15 per cent tax rate, no inheritance tax and no capital gains tax.
For those not particularly interested in permanent residency, around $176,000 exclusive of legal fees and tax will get a beachside property suitable as a holiday rental investment, and commercial office space can be had for far less. Daily direct flights to South Africa take five hours, making the location perfect for a weekend getaway or a long-term retirement in the sun.
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