A thrilling property update, foreigners, who already are residence permits holders, can now explore a broader range of properties in Mauritius beyond the existing approved schemes. Let’s get into the details. 

Timo Geldenhuys: In my previous videos, I highlighted the numerous avenues for property acquisition, including schemes like IRS, RES, PDS, Ground+2, and Smart City Schemes. However, a pivotal amendment to the Non-citizens Property Restriction Act has emerged, offering new options for property acquisition by foreigners.

This amendment specifically targets existing permit holders, who now have the freedom to invest in properties outside the previously mentioned schemes.

Let’s see the terms and conditions.

Various permit holders qualify. They include:

• The primary holder of a permanent residence permit
• The primary holder of a residence permit issued by virtue of a previous purchase under the aforementioned property schemes
• The primary holder of an occupation permit as an investor, professional, or self-employed individual
• The primary holder of a short-term occupation permit
• The primary holder of a family occupation permit
• The primary holder of a retiree permit

The criteria that the property must meet are as follows:

• The property cannot exceed 5,276 square metres, which is equivalent to 1.25 Arpent
• The property can be a vacant piece of land, a villa, a standalone house, an apartment or penthouse.
• It cannot be agricultural land.
• The land cannot exceed 5,276 square metres in size.
• It cannot be leasehold land, thus excluding all beachfront properties currently under leasehold.

The amendment to the Non-citizens Property Restriction Act sets a threshold for property acquisition by foreigners, requiring a price exceeding USD 500,000 or its equivalent in foreign hard currency, such as Euros or Pounds. 

Standard taxes in Mauritius apply, including a 5% transfer fee and 5% registration duty, that are typically shared between buyer and seller. Moreover, an additional 10% tax is imposed solely on the buyer.

This elevated cost underscores the exclusivity of such acquisitions, tailored for long-term residents who have identified specific properties they wish to purchase outside of the established schemes.

While the premium price reflects the uniqueness of these opportunities, it also opens doors for acquiring family homes within existing residential areas, a privilege not commonly available to foreigners.

If you have any property-related inquiries or needs, please don’t hesitate to get in touch with us at Mauritius Sotheby’s International Realty.

If you have any questions, contact us – info@sir.mu 

Welcome back to another exciting episode of 2-Minute Tuesdays! In this vlog, we’ll discuss air connectivity in Mauritius, exploring the numerous airlines that link the island to major international hubs across the globe.

Timo Geldenhuys: Today, we are discussing the connectivity and air traffic to and from the island, emphasizing the ease of access. As you are aware, Mauritius is a small tropical island, and our reliance on incoming and outgoing flights is crucial.

Before the COVID-19 pandemic, we enjoyed robust global connectivity. However, like every other place worldwide, we faced challenges during the pandemic, but I am delighted to share that we have successfully restored full air connectivity. 

Presently, we operate flights to over 150 cities worldwide through our diverse alliance partners.

Mauritius boasts direct connections to 9 out of the 15 largest hubs globally. We offer direct flights to all our major target markets, encompassing South Africa and Europe, with daily flights to France and the U.K. Notably, we maintain two daily A380 flights from Dubai, showcasing our strong connectivity and accessibility from a global perspective.

First and foremost, if you’re a foreigner and own a property on the island, you can come and leave easily. Moreover, from an investment standpoint, continuous influx of people onto the island is crucial. Presently, we welcome approximately 1.3 million tourists annually. The goal is to increase this number to 2 million by 2030 and ambitiously reach 8 million tourists per year by 2050. The enhancement of air connectivity in Mauritius is a key factor in achieving these targets, promising consistent expansion. 

So, the answer is clear – getting on and off the island is very easy.

Indeed, we have an array of international airlines facilitating easy access to Mauritius. Renowned carriers such as Air Mauritius, Emirates, and British Airways contribute to our extensive connectivity. Additionally, smaller European airlines like Edelweiss and Corsair play a significant role. Our connections also extend to the East, reaching Australia. Whether you are coming from Europe, the Middle East, or Down Under, accessing Mauritius swiftly is made convenient through our diverse airline partnerships.

If you have any property-related inquiries or needs, please don’t hesitate to get in touch with us at Mauritius Sotheby’s International Realty.

If you have any questions, contact us – info@sir.mu 

Welcome to a fresh episode of 2-Minute Tuesdays, where we’ll dive into rental properties in Mauritius. This is especially valuable if you’re considering a move to Mauritius and wish to explore the island before making a long-term commitment to property ownership.

Timo Geldenhuys: What a privilege to be standing in these beautiful gardens at Chateau Bel Ombre. Part of the heritage domain, here stands a beautiful property development called Heritage Villas Valriche. 

One frequently asked question concerns rental properties in Mauritius. The motivations for coming to Mauritius vary, and not everyone arrives with the intention to purchase property immediately. Many individuals prefer to test drive the island before committing to a long-term stay, and others come for job opportunities, prompting the need for rental properties.

Navigating the rental market in Mauritius is both diverse and challenging. Presently, demand significantly surpasses supply, particularly in the two primary areas we operate – the West Coast, covering the Black River and Tamarin area extending up to Cascavelle, and the North, encompassing the greater Grand Baie area. 

Both those regions have a shortage of stock, and one of the reasons for that is that during the COVID period, construction came to a standstill, and subsequently Mauritius has relaxed its restrictions and made it easier for people to come, live and work in Mauritius. As a result, there’s been an influx of people and the demand is just outstripping the supply.

For prospective renters, my recommendation is to plan ahead when searching for rental properties in Mauritius. Regarding property types, we offer a diverse range of options in Mauritius, primarily including apartments, duplexes, and villas. Additionally, the pricing spectrum is extensive, providing flexibility to suit various budget considerations.

In our operational market, a one or two-bedroom apartment can be secured for around MUR 40,000, while a beachfront villa may range from MUR 250,000 and beyond. Our focal point lies in spacious 4-bedroom family homes, a sought-after option priced between MUR 80,000 and MUR 120,000. This range facilitates the inclusion of amenities such as a pool, space for pets, and a comfortable environment for children.

For those desiring a more lavish and secluded lifestyle, consider areas like Heritage Villas Valriche on the West Coast. As for the East Coast, developments like Anahita are available, and there is also Blue Bay down South. Of course, popular choices include predominant areas like Tamarin and Black River, while the North, with its schools, major healthcare services, and shops, naturally attracts a substantial expat community.

If you have any property-related inquiries or needs, please don’t hesitate to get in touch with us at Mauritius Sotheby’s International Realty.

If you have any questions, contact us – info@sir.mu 

Timo Geldenhuys: Fiscal Advantage is one of the key drivers of why foreigners continue to invest in Mauritius.

The government has been proactive in setting these fiscal benefits to investors coming in and it is one of the main reasons why the Foreign Direct Investments (FDI) flowing into Mauritius are largely supported by the property industry.

It starts with your personal income tax. The Income Tax rate, compared to most of our key markets, is very low. Mauritius has a top income tax rate of 15%. Through Covid-19 there have been a couple of temporary adjustments around that in order to assist in the recovery of the economy. As a result, the top earners will pay around 25% of income tax.

If you base yourself in Mauritius as a fiscal resident and qualify for fiscal residency, (spend more than 183 days per annum in Mauritius), some of the benefits are as follow :

• There are no dividends tax so if you get paid your dividends in Mauritius you pay 0% tax. That is a key driver for why many captains of industry and successful businessmen choose Mauritius as a residential and fiscal location.
• There is no capital gains tax. We have seen a steady increase in terms of property appreciation over the years. I always say that Mauritius is a medium to long-term property investment destination, and at the end of the day when you sell that property, you pay zero capital gains tax.

 These are just a few of the advantages that are available, but the key ones I wanted to point out.

There is no Inheritance Tax in Mauritius. That’s important because your beneficiaries are not going to be taxed on the assets that you hold in Mauritius in the future and hence it gives you peace of mind.

Those are the main fiscal benefits of Mauritius. There is a myriad of other benefits that our advisors and service providers who specialize in the sphere can advise on and we would be happy to point you in the right direction.

If you have any questions about this topic, please contact us at Mauritius Sotheby’s International Realty.

Timo Geldenhuys: Yes, you can do so. Now, the question is, how ?

There are two ways. First of all, there’s a specific retiree visa that allows foreign retirees to come and live in Mauritius. Obtaining this visa is easy, and facilitated through the Economic Development Board (Mauritius).

The EDB is a government institution that facilitates investment, visas, and residency in Mauritius. You can go on their portal and it’s self-explanatory.  

The key is, the initial residency-retiree permit is a 3-year permit and it’s as simple as bringing in USD18 000 a year for those 3 years. So, it’s not an excessive amount of money, it’s cash that you’re going to use to live here anyway, in terms of your daily costs including property rental, car, etc.

Mauritius is just a phenomenal place to come and retire. The permits and visas are there for you to do it very easily.

The largest percentage of our buyers are in the retiree category, they’re 50+ years old and are predominantly from France and South Africa. When I say France, I also imply most of francophone Europe. There’s an amazing lifestyle here, with lots of opportunities for retirees, including great healthcare, and the shopping is good.

The investment is the same as any other investor buying property to get the residence permit, i.e, a minimum of USD375 000 is necessary to qualify for that residency. 

At Mauritius Sotheby’s International Realty, we will facilitate that process for you, and we will do the application on your behalf.

We look forward to assisting you in that process, so if you are a retiree and you want to find out more, please do contact us, and we’ll help you as best we can.

Timo Geldenhuys: Mauritius is a very unique island. Actually, it’s part of Africa, but in a way it’s not, as it’s far from mainland Africa.

The uniqueness of Mauritius is that it’s an independent island with very few natural resources, yet it is the success story of Africa over the last 50 years. These are the first reasons why a foreigner should choose Mauritius

Mauritius gained independence from the United Kingdom in 1968 and since then, the island has managed to reinvent itself numerous times. Originally, the whole economy was built on agriculture and monocrop, mostly sugarcane.

Over the years, various pillars developed and the first one was tourism. Well, everyone knows Mauritius as a beautiful blue sea and coral reef island, and a great place to come and have family holidays, and honeymoons.

Again, the population of Mauritius is well-educated, and the island has systematically grown in various spheres.

They are leaders in the ICT sector and in the offshore banking sector, definitely a great place to do business. Mauritius ranked highly on numerous listings across Africa and is also globally a safe place to invest.

Mauritius has had independent democratic elections every 5 years since 1968. There’s never been any major political upheaval, the population is a law-abiding population and, as a result, it’s a great place to invest with low tax rates and no dividends tax, no inheritance tax. The maximum tax rate here is 15%, so big companies that do business in Africa have chosen Mauritius as a platform to invest.

The island has proven itself as the leading country in Africa in terms of offshore development.

It’s a yes, and Mauritius Sotheby’s International Realty is well-placed to assist you in this regard, we look forward to seeing you guys and chatting with you soon.

Contact us: info@sir.mu