Real Estate Investor Magazine South Africa Real Estate Investor Magazine - August 2017 | Page 52

MAURITIUS
S
electing your next property investment isn’t an
easy process, and the possibility of purchasing
property in another country can seem
overwhelming. While exploring your next move might
feel tedious or off-putting, property markets in various
regions abroad offer South Africans an interesting
range of exciting opportunities with which to expand
their property portfolio.
Living it up, island style
While Mauritius remains a highly favoured holiday
destination, the island’s spectacular economic
growth and favourable facilities for foreign investors
have quickly made it far more than just next year’s
vacation spot. Property Investment in Mauritius
serves investors well, with residential, business,
and tax, benefits aplenty. Peter Todd, Director at
Osiris Corporate Solutions in Mauritius, tells us
that: “Various schemes on offer within Mauritius
have proven to be very attractive over the years, and
a considerable number of them have been heavily
marketed to South African and European audiences.”
Smart Cities in Mauritius
The Smart Cities Scheme (SCS) is a new, sustainability-
focused, concept that creates highly appealing live-
work-play opportunities. Focused on consolidating
the island’s global business and financial districts,
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AUGUST 2017 SA Real Estate Investor
the Smart Cities Scheme also aims to invigorate
technological and innovation-driven industries within
the Republic, while enabling foreign investors to enjoy
significant tax benefits as a result of their purchase.
As Peter explains: “investing in the development of a
Smart City, or one of its components, exempts investors
from the payment of certain taxes and duties, for up
to eight years, providing certain conditions are met.
Locals benefit too, as first-time Mauritian property
buyers, and buyers under the Mauritian Diaspora
Scheme, do not have to pay registration duties for their
properties within the Smart Cities Scheme. Non-
citizens can obtain a Mauritian residence permit for
themselves and their family, so long as they purchase a
unit for USD500,000 or more. Foreign buyers are also
permitted to purchase units for rental or resale, with no
restrictions applied. And, if an investor is looking to
acquire a great property to retire to, they may be able
to acquire life rights under the Smart City Scheme.”
Real Estate and Integrated Resort Schemes
While the Real Estate and Integrated Resort
Schemes have been around for much longer than the
Smart Cities Scheme, demand from foreign property
investors remains high. Offering similar residential
permit benefits to the Smart Cities Scheme (SCS),
the Real Estate Scheme (RES) and Integrated Resort
Scheme (IRS) have recently been expanded, with
www.reimag.co.za