MAURITIUS is fast becoming a great destination for older and retirement buyers looking for a great lifestyle and good amenities, says Séverine Dalais-Pietersen, marketing executive for Seeff Mauritius.
The island country now also offers long 10-year visas to lure retirement buyers to the island.
Mauritius is a great choice for South Africans, said Dalais-Pietersen. English is commonly spoken, and the culture is amazingly easy to enjoy. The commute from South Africa is also easy in about four to six hours with regular flights, so you are not too far from friends and family.
The island is renowned for its favourable business and investment outlook, and is on an economic growth path with political stability. Other features include high-tech infrastructure and 4G is available across the island. It has a strong financial and banking system. Taxes are also a drawcard and retirement buyers can benefit from zero wealth and inheritance tax.
Healthcare facilities across the island are also top class. There are plenty of doctors, pharmacies and hospitals.
You are also able to find specialised care such as orthopaedics, cardiology, ENT and eye care, mental health and more. Health insurance is also available, said Dalais-Pieterse.
People over fifty and retirement buyers can now get a 10-year visa which can be extended thereafter. They can include their partner or spouse as well as any children up to the age of 24-years.
To qualify for a retirement residency, you need to have income at an average of $1,500 per month which is brought into the country. This can be monthly or in tranches on a quarterly or annual basis, said Seeff.
The best way to secure residency is, however, to invest in property, said Dalais-Pietersen. There are designated developments ideal for older buyers where you can invest in a unit or life rights. No minimum price applies, and the residency is available to include your partner or spouse and children who are dependent.
You, however, do not have to purchase a retirement property and can invest in any development approved for foreign purchases, she says. The minimum requirement to invest in property has also been lowered to just $375,000 (R5.7 million).
This is probably similar to what you would pay for a house in a golf or lifestyle estate in South Africa, said Dalais-Pietersen, but you get much more in Mauritius. It is safe and the lifestyle is like being on holiday all the time, she said.
It is also much easier to buy property in Mauritius compared to other African countries and there are now many new developments with modern designs and added lifestyle amenities, often close to or with easy access to the beaches, said Seeff.
“There are also plenty of choices, from apartments and penthouses to townhouses and villas. Amenities range from a golf course to swimming pools, fitness and spa, tennis courts, restaurants and facilities for children.”
As an added bonus, these developments are generally highly sought-after holiday properties, hence they offer lucrative opportunities for rental income when not in use, the property expert said.
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