Are you a South African looking for the right place to retire?
Mauritius has become an excellent option for many SA retirement buyers looking to settle somewhere beautiful; the Mauritian culture is welcoming and straightforward, and most locals are fluent English speakers. Mauritius is undeniably one of the best destinations for South Africans to retire with a favourable warm climate that provides a lavish island lifestyle.
The island has a popular history of favourable investment and business opportunities and is experiencing further economic and political development. Mauritius boasts high-tech infrastructure, including solid finance and banking systems, and 4G is available across the island. Prospective SA retirement can also benefit from the alluring 0% wealth and inheritance tax available to all resident retirees.
Mauritius also includes high-quality healthcare facilities, with several hospitals, pharmacies and physicians available to those in need of general medical assistance. Specialised treatment such as eye care, mental health, cardiology, orthopaedics, and ENT (ears, nose and throat) are also available. Those looking for total peace of mind can consider investing in health insurance.
Mauritius now offers renewable 10-year visas for retirees and people over fifty. You can also bring along your spouse, partner, and children under twenty-four.
A bonus is that travelling to Mauritius from South Africa is easier than ever before; flights are regular and effortless to book and take between four and six hours, making visiting family and friends easier.
To qualify for a retirement residency in Mauritius, you need to earn an average income of R22,000 per month. You can provision this monthly or in tranches on a quarterly or annual basis.
Dalais-Pietersen states that the easiest method to obtain residency is investing in local real estate. As a retirement buyer, you can invest in a unit or life rights for certain designated developments. There is no cap on the residency price, and your spouse or partner and any dependents come included.
Fortunately, you do not have to buy a retirement home; Dalais-Pietersen explains that you can also invest in any development approved for foreign purchasing. There was a reduction in the investment minimum down to roughly R5.7 million.
This rate is comparable to the price of any South African home that features a lifestyle or security estate, and yet there is so much more in favour of properties in Mauritius, as the island allows residents to live a secure vacation lifestyle daily.
Compared to South Africa, acquiring property in Mauritius is a far easier process. Many current projects are available to residents; some include penthouses, townhouses, villas, and penthouses. These properties offer additional amenities and lifestyle facilities such as golf courses, swimming pools, tennis courts, etc. Furthermore, these developments are in high demand owing to their value as sought after holiday properties that can provide rental income when not in use.
For more information on how to secure property and retire to the beautiful island of Mauritius, contact our local Seeff branch and let us assist you in making your dreams a reality.
If moving abroad does not appeal to you, you might consider reading our article on investing in a holiday home in small towns with the best weather.