Budget 2022-2023: Investors Can Now Acquire Property and Obtain Residency in Partnership

Budget 2022-2023: Investors Can Now Acquire Property and Obtain Residency in Partnership

Long-awaited, this budgetary measure is a milestone in property acquisition in Mauritius. Indeed, in a few weeks, it will be possible for non-citizens to acquire property in partnership, under the fractional ownership policy.
Under this regime, each partner will be eligible to apply for the status of residency, provided that each foreigner invests more than USD 375 000 in the property. So, for instance, if two partners invest more than USD 375 000 each for the acquisition of one property, they each get a residence permit as well as their dependents, i.e, the spouse, the children, and the parents of each investor.  

The National Budget 2022-2023 Highlights

Ease of Doing Business

This budget ensures that Mauritius remains among the most business-friendly countries in the world. 

  • It will henceforth not cost a single rupee to start a business and incorporate a company in Mauritius
  • The Bank of Mauritius will ensure that a bank account can be opened within 1 week, be it for an individual or a business.
  •  Support businesses by enabling them to recruit talents under the young professional occupation permit. 

Financial Services And Asset Management 

  • Introduction of a domestic minimum top-up tax on resident companies, of large multinationals having a global annual revenue of a minimum of EUR750 Mn, to ensure that they are taxed at a minimum of 15%. 
  • Work and Residence Permits for 5 executives and their dependents per holders of Global Headquarters Administration Licence. 

Corporate Tax

  • Foreign employers of Premium Visa Holders will not, in respect of that employee, be subject to corporate tax and social security contributions. 

Residential Real Estate for Mauritians

  • The homeownership and home loan schemes, for the Mauritians buying a house, an apartment, or bare land to build their home will be maintained for Mauritian buyers with a 5% refund up to Rs500 000 till the 30th June 2023. 
  • Value Added Tax | The refund of VAT on the construction of a residential house, apartment, and building will be effected not later than 30 days from the date of receipt of all documents in support of an application for refund instead of 30 days from the date of receipt of the application.

Silver Economy 

  • To attract more foreign retirees to Mauritius, the Economic Development Board will organize the first edition of the Mauritius International Silver Economy Festival.

Unique Opportunity : Discover St-Antoine Private Residences with Chris Lazare & Norbert Koenig

Q&A with Norbert Koenig & Chris Lazare

Unique Opportunity : Discover St-Antoine Private Residences

Q&A With Chris Lazare & Norbert Koenig

1. Norbert, the rumor has it that there is a special treasure buried in St-Antoine, but I think that the St-Antoine project, is the real treasure. Tell us more about it.

(Norbert Koenig, Managing Director Red4, promoter of the St-Antoine project )

Well, there is a treasure buried in St-Antoine. As per the Paul & Virginie story, l’ile d’Ambre is where it is buried. However, the treasure is also here all around us, hear the birds singing, look at the view we have, and all the facilities offered on-site.

2. Chris, this is indeed a beautiful project, how are clients reacting to this offer?

(Chris Lazare, Partner Mauritius Sotheby’s International Realty)
To start with, the MSIR team is very proud to be involved in this development, the response from the clients has been phenomenal.

The project has been set up in two phases up to now. The first phase includes 35 units, of which all were sold. Then, there was a second phase of another 35 units, of which few units are left, which shows the success of this development.

3. Norbert, tell us more about the facilities available at St-Antoine?

The first 35 units came with a reception, a massage parlor, and a boat parking with all its facilities, which is handy as in this region you have the possibility to do beautiful excursions, and we have a big swimming pool.

4. More than just a project, St-Antoine is a typical North Coast village. What about the lifestyle?

First of all, you won’t be far from the urban area with Grand Bay being only 15 minutes drive from here, and there are many other amenities including a nearby golf course. The Goodlands village is also close with all its facilities and the open-air markets. Find also the St-Antoine old estate, that you can visit to enjoy a typical garden breakfast.Talking about the lifestyle, we have to mention the fishermen living around here and bringing that islander lifestyle vibe. You can do kayaking to l’ile d’Ambre, and there is the Bernache islet also, with its sandy white beaches.

5. Mauritius is indeed a paradise island, Chris why would you recommend Mauritius as an obvious choice for relocation?

Mauritius is well-positioned between Europe and Africa, we offer interesting tax benefits and the country is clearly on the up, with lots of developments happening.

As an investor, the return on your rental is fair value, and the return on investment, in the long run, is very fruitful.

So, investors should not hesitate to enquire about this development, we only have 5 units left and because of the high demand, we have plots of land for sale at St-Antoine, that you can buy if you have an occupation permit as a foreigner. Following the guidelines, you can build yourself a very beautiful home here for a very competitive price.

6. How does Mauritius Sotheby's International Realty eases the buying process for investors?

We do the service from A to Z having a very strong administrative department. We have a big team and a big reach of clients through our global network.

St Antoine Private Residence II – Luxury Apartment

Discover this 3 bedroom, ground floor apartment for Rs 22 522 500.
Foreign ownership, access to Mauritian residence permit and a favorable fiscal climate

Skyline Penthouse St-Antoine

This 3-bedroom penthouse is a must-see for R 45,000,000
Foreign ownership, access to Mauritian residence permit and a favourable fiscal climate

NEW DEVELOPMENT

Plots for Sale | Open for Reservation

Contact us to get our price list and to book and appointment

Q&A Philippe Falesse, Owner at St-Antoine Private Residences : I Live a Dream Every Day

Q&A Philippe Falesse

Q&A Philippe Falesse, Owner at St-Antoine Private Residences

`` I Live a Dream Every Day ``

1. You have a great love story with Mauritius. You arrived on the island for the first time 47 years ago and since then, it has been a romance. Why did you choose Mauritius as your second home?

 
I found in Mauritius a kindness that you can’t find anywhere else. The sun is always bright, life is beautiful and you are always happy when you live in Mauritius. Over the years, we often came here to visit our Mauritian friends, and it is thanks to them that we discovered this beautiful place that is St-Antoine.

 

2. Since how long do you live in St-Antoine?

 
We bought our place about six years ago. I remember going up a viewpoint to see where I could catch the best views, and this is how I chose the place where we were going to settle. Then, there was Covid-19 which delayed our plans, we arrived last December and finally got the apartment that had been waiting for us for two years.
 

3. You are retired, what can you tell us about the comfort and facilities offered in St-Antoine?

 
St-Antoine is the place to enjoy tranquility, serenity, and peace. When you wake up every morning to this amazing view, you can’t help but think, “I’m in heaven”. I am also 15 minutes from the center of Grand Bay and 15/20 minutes from a golf course. So I can find everything I need easily. I plan to continue all my retirement and all my life here.
 
Also, my four children are all in love with Mauritius, and they are also planning to settle here eventually. As I live in Congo, I can now say that i’m planning to bring my whole tribe here.
 
St-Antoine is a paradise, and we live in extraordinary conditions. This is a high-quality construction, the staff is always ready to help. I live a dream every day.
 

Mauritius – Fastest Growing Wealth Market in Africa

Mauritius Fastest Growing Wealth Market in Africa

Mauritius - Fastest Growing Wealth Market in Africa

Mauritius’ attractiveness as a destination for luxury real estate in the last decade has been pivotal for the country’s growth as a wealth market. Indeed, Mauritius remains an obvious choice for those who seek to relocate to a paradise island, yet connected to the world with a world-class financial services sector, excellent air connectivity, internet connectivity, and mature industries.

Highest Wealth per Capita in Africa

Mauritius has the highest wealth per capita in Africa amounting to USD 34 500 as of 31st December 2021, followed by South Africa and Namibia, according to  the latest Africa Wealth Report published by Henley & Partners, during the end of April 2022.

A Bright Performance

Various factors contributed to this bright performance, starting with the Ease of Doing Business, where Mauritius ranks 1st in Africa and 13th worldwide in the World Bank’s 2020 Doing Business Report. Foreigners benefit from low taxes, which encourages business creation and appeals to retirees. It is noteworthy that there is no inheritance tax or capital gains tax in Mauritius.

Not least, Mauritius was recently rated by New World Wealth as the safest country in Africa, and the island is witnessing a strong millionaire growth, with a large number of wealthy individuals relocating to Mauritius over the past decade to work and live in Mauritius.
Do you want to be part of this glorious adventure while enjoying the year-round summer from the comfort of your luxury property in Mauritius ? 

Contact us, Mauritius Sotheby’s International Realty, the voice of luxury homes in Mauritius, will help you find your dream home.

Mauritius Among the Top 10 Preferred Destinations of French Retirees

Mauritius Among the Top 10 Preferred Destinations of French Retirees

Once again, the quintessential beaches of Mauritius won hearts. Among the top 10 preferred destinations of French retirees, Mauritius ranked 6th in the published list of the magazine Capital, as reported on the retraitesansfrontière.fr website. 
Fortunately, Covid-19 has not curbed the French’ desire to spend their retirement outside of France. The website retraitesansfrontieres.fr compiled a list of the best countries to spend your retirement based on criteria such as the cost of living, property value, medical care, but also cultural heritage, and gastronomy.
To determine a score for each of these criteria, meetings were held with future retirees to find out their motivations and obstacles to retirement abroad. At the same time, a questionnaire was sent to 176 retirees wishing to move abroad to find out why they consider a particular country to be a ‘retirement paradise’.

Mauritius Drops Pre-Arrival PCR Test Requirement

Demand from tourists and business travellers has soared following the reopening of borders to international travel last October. In an endeavour to encourage foreigners to choose our destination, Mauritius drops the requirement for all incoming visitors to present a negative PCR test before being allowed on the island. 
Moreover, the authorities removed the need for a day 5 antigen test during your stay in Mauritius. 
So relax, come and live in Mauritius, we are waiting for you!

2021 Global Brand Performance: USD204 Billion in Global Sales Volume

2021 Global Brand Performance: USD204 Billion in Global Sales Volume

The global network Sotheby’s International Realty achieved a record US$204 billion in 2021 global sales volume, a 36% increase in sales growth year over year, as U.S. cities saw a resurgence of interest following the pandemic and sales activity in secondary and resort markets around the world remained strong.
The brand’s U.S. sales volume grew by 33.8% year over year, significantly outpacing NAR’s national increase of 20.6% from the prior year, underscoring the brand’s leadership in the high-end market. 
Real estate proved to be a hot investment in 2021,” said Philip White, president and CEO of Sotheby’s International Realty. “Once again, agents affiliated with Sotheby’s International Realty outperformed the industry average and achieved record-breaking home sales as buyers continued to depend on their trusted expertise to navigate a constrained market.”

Marketing Leadership

Sotheby’s International Realty continued to lead the industry with its technology and marketing efforts. Sothebysrealty.com saw more than 46 million visitors in 2021, a 25% increase year-over-year and the most visits to the website in its history. The site was also named Best Real Estate Website in the People’s Choice Category in the 25th Annual Webby Awards, recognizing the brand’s efforts to introduce translations in 14 languages, nearly 60 currency conversions, and a mobile-first approach to emphasize the method in which today’s clients are buying and selling homes.
Property videos, which exploded in popularity during the 2020 lockdown, have continued to trend as more buyers start the initial viewing process online. Videos produced by Sotheby’s International Realty agents were played nearly 90 million times, a 50% increase year-over-year.

2021 Top Luxury Brokerage

Sotheby’s International Realty was also awarded the honor of 2021 Top Luxury Brokerage by Inman, the industry’s leading source of real estate information. The prestigious award is a testament to the brand’s achievements in luxury marketing, record-breaking sales, and high-quality service.

Mauritius Awarded Best Country to Work From in The Region by KAYAK

Mauritius Awarded Best Country to Work From in The Region by KAYAK

Why simply work from home when you could work from a paradise island?
Good news for the Mauritian property market, the country has been awarded best country to work from by the American online agency, KAYAK, for the Middle East and Africa region.
Globally, out of 111 countries, Mauritius ranks fourth behind Portugal, Spain, and Romania,
Indeed, Mauritius has been hailed as one of the world’s best places to work remotely in 2022, thanks to its effective pandemic management policy, the island-wide 4G connectivity, and the free 12-month premium visa.
The rating is based on 22 factors divided into six different categories: travel costs and accessibility, local prices, health and safety, remote working capabilities, social life, and climate.
Great performance, our rating summed up to a score of 90/100, placing Mauritius high up the podium for digital nomads.

The Premium Travel Visa Proves to be a Success

Mauritius launched its Premium Long Stay Visa at the end of 2020 to meet the growing demand from international visitors, including the digital nomads wishing to relocate to Mauritius for work, leisure, or retirement.
This initiative has attracted 1,500 individuals and families who have taken advantage of the opportunity to move to our country, which offers a fantastic work-life balance, making it an ideal location for those looking to maximize their business productivity and leisure time.

Successful Vaccination Program

One of the safest destinations you can relocate to, 958 778 Mauritians already have the fully vaccinated status.
Thanks to the effective vaccination campaign, Mauritius was able to fully reopen its borders in October 2021, with major airlines including Emirates, British Airways, Air Mauritius, Air France, Austrian Airlines, and Turkish Airlines, all connecting to the Sir Seewoosagur International Airport, with dozens of weekly flights.

Come and Live in Mauritius

It’s time to enjoy life in paradise, so do not hesitate, plan your trip, book your flights and contact us.

Q&A with Timo Geldenhuys and Chris Lazare: “ 2022 Promises to be The Year of Growth for The Real Estate Sector”

Q&A with Timo Geldenhuys and Chris Lazare

Q&A with Timo Geldenhuys and Chris Lazare

2022 Promises to be The Year of Growth for The Real Estate Sector.

Fresh into 2022, what does this year hold for the real estate sector? How did we face the economic challenges triggered by the global pandemic?

Timo Geldenhuys and Chris Lazare, expert realtors and partners at Mauritius Sotheby’s International realty share their insights and analysis about the 2022 trends for the sector.

Ranging from the change in habits of international buyers, the new digital solutions adopted, the rental market outlook, and the Foreign Direct Investment flows expected in Mauritius through real estate, they both are optimistic that 2022 will be the year of growth for the industry.

Mauritius Sotheby’s International Realty and LUXHABITAT Sotheby’s International Realty Dubai join forces

Mauritius Sotheby’s International Realty and LUXHABITAT Sotheby’s International Realty Dubai Join Forces

In this era of economic uncertainty amid the Covid-19 crisis, collaboration, market research, daring and smart partnerships, are the key to business growth. A new market, holding much potential for the real estate sector in Mauritius, the United Arab Emirates (UAE) account for foreign direct investments of Rs 424 million to Mauritius for the first six months of 2021.

Understanding and foreseeing the potential of this market, the Mauritius Sotheby’s International Realty team led by Timo Geldenhuys and Chris Lazare, sets the pace for a solid partnership with Luxhabitat Sotheby’s International Realty in Dubai. Beneficial to the real estate landscape in Mauritius, this collaboration will surely help in growing the investment flows from this market to the country.

“We went to Dubai in an endeavor to further our collaboration with Luxhabitat Sotheby’s International Realty, mostly that our professional partnership is already well established. For instance, they advertise the One & Only project which holds great potential of attracting Dubai investors to our shores. We offer great value properties and they see our destination as a paradise island. On our side, we’ll also put our network at their disposal to help in giving visibility to their projects” explains Chris Lazare, Partner, Mauritius Sotheby’s International Realty.

The One & Only Project

This limited collection of 52 unequaled private homes in Mauritius is located on an exclusive tropical peninsula.

Surrounded by the azure lagoon of the Indian Ocean, the resort presents an exquisite collection of brand-new freehold properties for purchase, among the very first private homes to own in the world.

Want to Own a Property in Paradise?

Hesitate no more and contact us.

The Mauritius Sotheby’s International Realty team would be delighted to help you find your dream home.