Mauritius has relaxed its visa and travel restrictions and as a result, there is an increase in the number of South Africans wanting to move to the island.
Marketing executive for Seeff Mauritius, Séverine Dalais-Pietersen says the required property investment has been lowered to $375,000 (R5 344 027,50), from the previous $500,000 (R7 128 430,00) by the Mauritius government.
Business Tech reported that the Premium Travel Visa has been introduced and that it will allow you to stay on the island for a year before you make your permanent move.
The phased reopening of the Mauritius borders for vaccinated persons will start from 15 July to 30 September, and the island hopes to open fully for vaccinated people from 1 October.
‘The property developments available for foreign buyers are top class and often offer great rental returns. The island is easily accessible with short-hop flights of four to six hours from South Africa. The island offers a quality lifestyle, excellent climate, and modern amenities, all within easy reach.’
Dalais-Pietersen said that there are also a number of tax benefits to moving.
‘If you spend more than 183-days here annually, you can be tax domiciled and benefit from the non-double taxation agreement with South Africa and other tax options including a fixed rate of 15% tax for individuals and companies, and no tax on capital gains, dividends, profits or inheritance.’
‘While the foreign buying contingent slowed due to the pandemic and closed orders, local Mauritians took the opportunity to buy like crazy, predominantly plots of land below R4.7 million and apartments and small houses up to R5 million,’ she said.
The rental market on the island is active and consists of both residential, as well as holiday letting with prices ranging from around R10,000 to R200,000 per month. Property that is currently in demand ranges from around R16,600 to R26,700 per month for residential property.
PICTURE: Unplash
