This month the Rawson Property Group starts business in Mauritius for the first time. According to group MD Tony Clarke this expansion will provide new investment opportunities for South Africans and Mauritians. “Mauritius has become a very popular emigration destination for South Africans and is also a favourite spot for business relocation and expansion,” says Clarke. “It has enviable political stability and an impressive track record of economic growth, with liberal, business-friendly policies and extremely favourable tax laws.”
With income tax capped at 15% and land transfer tax at 5%, Mauritius is a tax-efficient destination for South Africans. Zero inheritance or capital gains tax only adds to the appeal for those weighing up the benefits of long-term investments like property – something the new Rawson Properties Mauritius franchise will be able to facilitate for investors both on- and offshore. “Next to the French, the second-largest number of foreign investors in Mauritius is now South Africans,” says Rawson franchisee Isabelle Hardy. “That said, we also have buyers from Great Britain, Reunion, Madagascar, Australia, Canada, Belgium, Switzerland and China. Our buyers range from seasoned investors and seniors coming to retire, to working professionals and young couples looking for a safe, lifestyle-focused place to raise their families.”
Hardy says most South Africans tend to invest around the MUR8.5m mark (R3,2m), although other foreign investments range all the way up to MUR39,860m (R15m). The average four-bedroom villa on an erf of 1,000m2 will cost upwards of MUR37,867m (R14,288m), but more compact properties are available for far less. “Foreign buyers are only allowed to buy freehold land,” says Hardy, “but there’s a wide range of properties to choose from within that space. In fact, between the IRS (Integrated Resort Scheme) RES (Real Estate Scheme), and PDS (Property Development Scheme), there have been almost 150 new developments approved for foreign investment since our property market was opened up to international buyers.” Some of the more popular developments open to foreign nationals include Le Parc de Mont Choisy Golf and Beach Estate, Rockview, Ki Resort Apartments, and Nautilya in the north; Pointe díEsny le Village on the southeast coast; and Akasha Villas and Asmara Beachfront Residences on the west coast.