International agents and Mauritian developers<\/a> said that sales on leading developments on the island have seen unprecedented growth in recent times, with Brits, Europeans and South Africans viewing the island as a “safe haven.” <\/p>\n\n\n\nBetween 2014 and mid-2022, the Bank of Mauritius reported that foreign direct investment in high-end property reached 63.3 billion rupees (R25 billion) – roughly 40% of the nation’s total international investment inflow.<\/p>\n\n\n\n
\u201cMauritius is a great option because it is generally warm and pleasant throughout the year. It has a tropical climate with mild temperatures, making it comfortable for retirees. As a bonus, it is also renowned for its natural beauty, with pristine beaches, crystal-clear waters, lush forests and breathtaking landscapes,” Philippe De Beer, CEO of Mauritian real estate agency Park Lane Properties, said. <\/p>\n\n\n\n
The nation is also incredibly safe and politically stable, which should provide retirees a sense of security. <\/p>\n\n\n\n
\u201cDespite being an island in the middle of the Indian Ocean, Mauritius also offers a high standard of living, with modern infrastructure, quality healthcare facilities and a wide range of dining, shopping and other leisure amenities, as well as golf courses, water sports, cultural events and festivals. Retirees can enjoy a very fulfilling and active lifestyle here,” De Beer added. <\/p>\n\n\n\n
\u201cAt the same time, however, Mauritius is only a four-hour flight from SA, which means that retirees can more easily maintain their existing social connections and visit for those all-important family occasions and reunions with old friends.\u201d<\/p>\n\n\n\n
Benefits <\/strong><\/p>\n\n\n\nThe island also offers several attractive tax benefits for retirees<\/p>\n\n\n\n
For instance, the country has a non-double taxation agreement with several countries, which allows retirees to decrease their tax burden. <\/p>\n\n\n\n
It also does not impose capital gains tax, inheritance tax or a wealth tax<\/strong>. <\/p>\n\n\n\n\u201cWhat is more, it is relatively easy to retire in Mauritius, and you don\u2019t actually need to buy a property to do so. You just need to be over 50 years old and be able to prove that you have a pension or investment income from outside Mauritius of US$1500 (R27,500) a month or $18,000 (R335,000) a year that is paid into your Mauritian bank account.” De Beer said. <\/p>\n\n\n\n
\u201cYou can then apply for a Retirement Residence Permit (RRP) that is valid for 10 years and renewable, and that also covers your spouse and any minor children living with you.\u201d<\/p>\n\n\n\n
However, retirees will not be allowed to work or run their own businesses on the island if they have a retirement visa. <\/p>\n\n\n\n
\u201cThe RRP is strictly for retirement living, but there are several other residence options open to those who do want to work here or relocate a business to Mauritius, and as one of the top local property companies, we are always happy to assist anyone with plans to relocate.\u201d<\/p>\n\n\n\n
\n\n\n\nRead<\/strong>: Big storm brewing over workers earning dollars and pounds in South Africa<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"South African retirees are moving to an island off the East Coast of Africa. <\/p>\n","protected":false},"author":95,"featured_media":712882,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9876],"tags":[26],"class_list":["post-712876","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-lifestyle","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/712876","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/95"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=712876"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/712876\/revisions"}],"predecessor-version":[{"id":712892,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/712876\/revisions\/712892"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/712882"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=712876"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=712876"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=712876"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}