Making the move to Mauritius? Here's what you need to know
Category News
With a combination of knowledge garnered from both local property to area offerings and real estate expertise, Hamilton's Property Portfolio is uniquely positioned to assist potential homeowners to make the most of their move to this paradisal island.
From inquiring about whether to buy, sell, or rent, to planning out the immigration process, our property guide offers you key insights into the journey ahead and which pitfalls to avoid when searching for the ideal home, beach villa and free-standing property across the Mascarene Islands.
Mauritius at a glance
Located just under 2500 km east of mainland South Africa, Mauritius is a volcanic island surrounded by the warm Indian Ocean. Because of its unique geological origins, this mountainous island contains over 330km of breathtaking coastal real estate with the 828-meter high Piton de la Rivière Noire mountain as its centrepiece.
The Island itself is almost surrounded by one of the world's largest unbroken coral reefs and provides an ideal location for adventure deep-sea fishing and diving. Port Louis serves as the capital and includes bountiful activities, amenities, health and educational facilities making this island both a tropical paradise and a modern marvel of contemporary living.
Latest Residency options - living in Mauritius
The property market share within the island has attracted investment from not only South African homeowners but also investors worldwide. This increase in international interest is in part due to the relaxing of laws that relate to purchasing property on the island. Since the laws were relaxed, the Mauritian government has reported an uptick of investors from South Africa.
The real value to this boom in interest isn't just for the spectacular coastal property on offer but also for the added value of being able to purchase residency. Various government agencies from the Integrated Resort Scheme (IRS) to the Real Estate Scheme (RES) offer the right to residency to both buyers and their extended family provided that the total property share exceeds that of R5 Million.
The Island nation has no capital gains, dividends, or inheritance tax and has adopted a universal tax rate of 15%. This means that homeowners have the opportunity to rent out their property, become tax residents of the country, and enjoy the unrestricted movement of repatriation of funds or profits raised from either selling or renting.
To mitigate against the fears of economic instability, South African buyers often create contingency emigration plans and take out alternative residency offerings as insurance should there be a crisis. If there is money to invest then savvy homeowners do so in countries like Mauritius to guarantee formal status.
Since residency is an easy option for second homeowners and those looking to make the Island a permanent home, Mauritius is the perfect option within proximity.
Making the move - what you need to know
For migrators looking to make the move, the Mauritian government has set up two schemes to attract High Net Worth Individuals that meet the criteria.
The initial scheme offers foreign investors the opportunity to obtain residency and citizenship provided a non-refundable contribution of R13.5 million to the national sovereign fund. Any spouse or dependent will require an additional contribution of R1.35 million per family member.
The secondary scheme offers the option to acquire a Mauritian passport for a contribution of R6.75 million with spouses and dependents requiring an additional R675,000 per family member.
Auxiliaries - Pets and Animals
Some multiple laws and regulations pertaining to bringing in pets from South Africa. To ship them across your pets need an ISO 11784/11785 microchip alongside their 15 digit identification number. All pets need to be up to date on Rabies vaccinations dependent on whether they are cats or dogs. All vaccinations need to be valid between 2 and 12 months before entering the country.
With medical records in order, there are a further two extremely important documents to acquire. The first is an import permit which you will need to apply for 3 to 6 months before travel with a clear reason stated for why it's required. The second is a Health Certificate that ensures your pet is well enough to travel. This will include your microchip number and a letter of endorsement from your veterinarian.
With all documentation in order, a minimum quarantine duration of one month is required before they are free to enter the country.
Listed properties
If you're considering a second home with stunning views of the white beaches and tranquil blue waters or thinking of making Mauritius your permanent home then peruse through our list of exceptional property offerings.
View our list of immaculate properties within Mauritius [here]
View our featured penthouse in Grande Rivière Noire
Read our previous article here: https://www.hamiltons.co.za/news/beyond-the-braai-tasty-heritage-day-recipes/
Contact Hamiltons Property Portfolio for all your buying or selling requirements:
Johannesburg (Head Office): 011 463 0155
Cape Town: 021 418-0328
Garden Route: 044 050 3295
Eastern Cape: 076 927 7787
Or email to reception@hamiltons.co.za
Author: Lisa