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Mauritius - has anyone bought or thinking of buying property there?

394

Posts

EW EXPLORER

Latest post on 30 April 2015 - 13:01

Like to know if anyone has considered buying in Mauritius - there are several places where non- Mauritian can buy. I think a few South African have bought there. Would it be a good long term investment with good rental yields and then possible place for retirement? Taxes in UK and Europe just seem to be getting higher. However, some people don't seem to like it that much - would it be boring to live there? Any thoughts?

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viccy2014110609

4

Posts

EW NEWBIE

Latest post on 13 June 2015 - 10:37

Bingo12, I am not on this website alot but If you need any kind of information, feel free to send me an e-mail on [email protected] Best regards, Viccy

viccy2014110609

4

Posts

EW NEWBIE

Latest post on 10 June 2015 - 18:07

Thanks again Viccy for your post - interesting information - have also been reading up online. The "new" residence visas with the property purchases of $400,000 or more are restricted to new properties on the new developments it seems - which look lovely. But I wonder about resales, whether they hold their value. I do hope to visit the north of the island but am off to UK tomorrow! Hi there bingo12, Several programs of RES and IRS are currently developing in Mauritius and not all of them of sold. The new development that is the PDS scheme (property development scheme) will be same laws and conditions as the RES and IRS and the minimum price of $500, 000 will never be less because it's fixed by the government to obtain the permanent resident in Mauritius as long as your are the owner of the property. There are very few villas to sell that is second hand because it is sold here very quickly and since 5 years for the resale of a few properties, owners have made a plus - value and gained more. Feel free to contact me on your next trip to Mauritius because I can put you in contact to visit the best programs of the Island.

394

Posts

EW EXPLORER

Latest post on 10 June 2015 - 16:05

Thanks again Viccy for your post - interesting information - have also been reading up online. The "new" residence visas with the property purchases of $400,000 or more are restricted to new properties on the new developments it seems - which look lovely. But I wonder about resales, whether they hold their value. I do hope to visit the north of the island but am off to UK tomorrow!

viccy2014110609

4

Posts

EW NEWBIE

Latest post on 10 June 2015 - 15:38

Thanks viccy for the very interesting information. It does sound like a great place to move to. I've not been to the north of the island. Is enterprise by non-locals encouraged/allowed in Mauritius? Are there a lot of regulations such as having to employ a certain number of "locals"? I.ve heard it's not that easy to import goods there - say for a retail business etc? I've have tried "reading up" on these matters. Hi bingo 12, You're very welcome. Maybe you should try visiting the north of the Island on your next trip. There are many interesting things to do around here. Yes, enterprise by non-locals is allowed in Mauritius as long as you obtain a permit of investment or a working permit and submit the right papers. There are no regulations such as having to employ " locals " , you can employ as much as employers as you want. It's cartainly not easy to import goods here, but there are solutions. Regards, Viccy

394

Posts

EW EXPLORER

Latest post on 08 June 2015 - 11:27

Thanks viccy for the very interesting information. It does sound like a great place to move to. I've not been to the north of the island. Is enterprise by non-locals encouraged/allowed in Mauritius? Are there a lot of regulations such as having to employ a certain number of "locals"? I.ve heard it's not that easy to import goods there - say for a retail business etc? I've have tried "reading up" on these matters.

viccy2014110609

4

Posts

EW NEWBIE

Latest post on 06 June 2015 - 13:19

Like to know if anyone has considered buying in Mauritius - there are several places where non- Mauritian can buy. I think a few South African have bought there. Would it be a good long term investment with good rental yields and then possible place for retirement? Taxes in UK and Europe just seem to be getting higher. However, some people don't seem to like it that much - would it be boring to live there? Any thoughts? Hi, Me and my husband bought a home in Mauritius. We live in the North of Mauritius because there are many things you can do in the north and you get to meet many foreigners. Night life is great in Grand Baie. It's been 5 years now and we don't regret anything and don't want to leave Mauritius. We have 3 children as well. What's good in Mauritius is everyone can afford to have a nanny. Life is not very expensive here and you can have a wonderful life. Another great thing here is tax rate in Mauritius is one of the lowest in the world. The tax scheme is very flexible, rendering business easy. The main axis of the Mauritian tax system are as follows: 15% tax on the profits of companies 15%tax on private incomesNo tax on capital gains (CGT)No tax on dividendsNo inheritance taxesNo limit on the transfer of profits, dividends and capital80% tax credits for offshore companies - GBL1 (actual tax rate of 3%) Mauritius also concluded treaties of non-double taxation with 33 countries. Major reforms were brought to the Mauritian economy to attract investment and foreign skills. The country is classified in first position in the "Heritage Foundation's" 2008 Index of economic freedom. Foreigners can now live in Mauritius, and even buy property and become permanent residents following the approval of the Prime Minister or if they have worked 3 years in Mauritius. The purpose is to boost an attractive development, in terms of the conception of real-estate projects and the quality of their construction. Mauritius has built up for itself an international reputation as an exclusive tourist destination, with its innate sense of hospitality, its magnificent landscapes and its hotels of international standards. So many things to say about Mauritius. If you are coming to Mauritius and looking g for a home or need any kind of help you can always send me an email on [email protected]

379

Posts

EW EXPLORER

Latest post on 30 April 2015 - 17:18

After lots of research, discussion and consideration we decided to use all our spare money to buy properties in UK we let these properties and hopefully these will provide us with sufficient income so that when we retire we can use this to rent properties anywhere we fancy spending a month or two. This mean we aren't tied to any property abroad and if we don't particularly like a certain place we can move on and vice versa if we really like it we can stay longer. I have serious concerns that my DH likes the "dream" of retiring to warmer (than UK) climes, he's a creature of habit and not as adventurous as he thinks he is! So I think monthly rentals wherever we fancy is a safer option. We like the idea of having the legal back up of British law and the security that provides, even considering the taxation implications once we return to the UK we feel for us this is a win win situation. Just posting a different option that you might like to consider. <em>edited by dally on 30/04/2015</em>

4393

Posts

EW MASTER

Latest post on 30 April 2015 - 13:26

Sorry can't help with the buying in Mauritius, but DH and I have spent the last few months trying to decide on a very similar situation. After much consideration and discussion (some of it VERY heated!!!) we have ended up looking closer to home in France. The idea of having a lovely bolt hole somewhere gorgeous like Mauritius has been thrown around many times, but it all came down to our retirement plans and how would we feel being so far away!!!!!

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