Mauritius is known as a holiday destination but is fast becoming a hot ticket for business people with their sights on immigration. The island nation is safe with a stable economy and offers its residents an ideal all-year-round outdoor lifestyle alongside some great property opportunities. But its prestige doesn’t end there.
A rising star
The World Bank officially classified Mauritius as a high-income country in July 2020, revealing that the star and key of the Indian Ocean is home to around 4,400 High Net Worth Individuals, compared to only 2,500 a decade ago. As Africa’s wealthiest country steadily gains momentum, High Net Worth South Africans are increasingly looking to Mauritius as an attractive immigration destination for both business and pleasure.
The fame of Mauritius is drenched in sunkissed tourism and beachside cocktails for honeymooners, but lucrative opportunities for astute execs are not to be overlooked on this historic island. It earned the top spot as Africa’s easiest marketplace for industry and was ranked 13th worldwide in the World Bank’s 2020 Doing Business Report. Mauritius is a strategic business centre situated at the crossroad between Asia, Africa and Australia with its economic success firmly rooted in good governance and a pro-investment climate.
The good news for investors is that Mauritius has firmly established itself as a property investment gold mine. With property sold to non-Mauritian residents tipping the scales in recent years, South Africans alone account for around 40% of all foreign property investment. One of the major drivers of this trend is the assurance of a Mauritian residency permit through the purchase of residential property of $350,000 or more under the Property Development Scheme.
Access to world-class educational facilities, the opportunity to live and work in economically-secure and successful cities, and the ability to conduct business with ease are some of the lifestyle benefits of living in Mauritius as a resident. From a financial perspective, the outlook has never looked brighter. By investing in Mauritian property, investors gain secure ownership rights, maximum 15% income and corporation tax, no capital gains tax and no inheritance tax.
Look no further than Mauritius for a safe offshore property investment that will reap benefits for decades to come. 12 Star Capital is perfectly placed to advise those looking to invest in Africa’s wealthiest shores.