The Mauritius government has worked extremely hard the past couple of years to establish Mauritius as the Financial Hub of Africa. With attractive tax treaties with countries, co-working spaces and a growing economy it is no surprise that South Africans are choosing to invest in properties in Mauritius. South Africa is only a 4-5 hour flight from Mauritius, making it the perfect offshore destination to invest in property. With the change in legislation, South Africans can now invest in property in Mauritius without needing permanent residency.
An article in Business Tech highlights the reasons for South Africans now wanting to invest in property in Mauritius. According to Theo Pietersen from Seeff Mauritius, Mauritius property developers and agents are beginning to see some traction in the number of South Africans buying property. Reasons for this traction in numbers may be that apart from Mauritius being an idyllic Indian Ocean Island destination, Mauritius offers a range of property options, from commercial to residential for the rental market, even if you are not looking for permanent Residency in Mauritius. This makes it more affordable to get into the Mauritian property market. Another major reason is that there is no Capital Gains Tax (CGT), dividends or inheritance tax and a flat personal and corporate tax rate of 15% applies. Financing is available from South African banks or from Mauritian banks at interest rates of around 5%-7% with 40% cash deposit requirement.
The original article in Business Tech is a very interesting article to read. Please read the original and full article HERE.
Source: Business Tech