Real Estate Investor Magazine South Africa Real Estate Investor Magazine - August 2017 | Page 53

New Horizons Ahead
for Your Offshore Investment
BY PETER TODD
2016 Mauritian legislation being amended, allowing
foreigners to purchase apartments in condominium
developments at least two levels above ground, so
long as the Republic’s Board of Investment grants the
necessary approvals.
Big Business
Of course, luxury living is the name of the game
for property investors in Mauritius, but corporate
opportunities have begun coming to the fore recently
too. Companies operating in Mauritius are permitted
to purchase commercial property within Mauritius for
own use. Peter tells us that: “larger commercial players,
for example Mara Delta, have just recently staked their
claim in Mauritius by purchasing the Barclays head
office as well as several hotel investments, but it should
be noted that all commercial property opportunities
are subject to the approval of the Prime Minister’s
office. Nonetheless, commercial property investors
should keep their eye on Mauritius as new possibilities
for expansion and investment come to light.”
The BVI beauty
If Mauritius isn’t for you, the British Virgin Islands,
located in the Caribbean, could be the island
opportunity you’re looking for. While space is at a
premium, and therefore property prices can seem quite
high, it is possible for foreign investors to scoop up
www.reimag.co.za
a little spot of the island life, by obtaining an Alien
Landholding License. This non-transferable license
grants property buyers the ability to own a specific
property, and is subject to high levels of scrutiny and
strict adherence to quite stringent conditions. While
the regulations surrounding foreign property investor
activities in the Virgin Islands can be quite odious
at first glance, the exceptional setting and tropical
lifestyle quickly make it all worthwhile.
Closing the deal in the Cayman Islands
Also situated in the Caribbean, the Cayman Islands are
a playground for the well-heeled, but it’s also a foreign
property investor’s dream come true. Foreign ownership
of land is welcomed, with zero restrictions placed on
investors, and no taxes levied too. As most land within
the Cayman Islands is privately owned, a comprehensive
Land Registry exists, whereby government undertakes
close record-keeping, to provide full-scale, historical
property data for interested buyers.
Don’t do it alone
Making the right choice for your money starts,
however, with finding the right type of collaborator
and guidance. Pick an investment broker who is not
only knowledgeable of the region you’re looking to
purchase property in, but well-versed in the regulations
and benefits attached to your purchase.
AUGUST 2017 SA Real Estate Investor
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