South African family thinking of moving to Mauritius

Hi,

1. It's not difficult provided

a) All your papers and documents are all set

b) You have a proper business plan to submit to the Board of Investment where you have put forward strong arguments backed with proof of funds and a detailed overview of your business and the ability to meet the minimum annual turnover mandatory for foreign investors.

Here are the guidelines:
http://op.investmauritius.com/Guidelines/investor.aspx

2. A plethora of businesses are successful. Just that some are the turf of locals and the govt doesn't issue permits or is very selective.
Food business like anywhere else works well but with conditions like minimum turnover attached, your business will need some proper and efficient structuring and marketing.

3. Best to contact the different schools directly.

4. if you want to set up an Indian food business, your best best would be to target not only tourists but also Mauritians. 65% of the population is of Indian descent (+Indian expats) and Indian food is immensely popular.
The capital city of Port Louis and the big towns are the best locations.
The North and West coast is also good bets if you want to include tourists in your equation.

Hope this helps!

This sounds good ...........i am interested in the motor industry namely Land Rover
Do they sell well. Is the salary good.

Thank you Winston for your reply.

I have made a list of schools and I am going to start calling on Monday.

The business we want to set up there is a tricky thing though. Its working very well in South Africa, but its very nerve wrecking wondering if the same business will work abroad. We have a lot to offer.

So i will work on a business plan, and put it forward to the board of directors, and see what the outcome is.

Mainly, the idea is to contribute to the earn a living, empower the locals of mauritius, as well as educate as we go along.

Hi,

Locals are suitably qualified and experienced in the hospitality industry owing to Mauritius' rich and prosperous tourism industry.
In fact the country is now exporting talents to other countries.

Your main challenge would be to compete in an already highly competitive industry and to adhere to strict criteria imposed on foreign investors by the government.

Many expats who come to the island to engage in the food industry often go bankrupt and have to leave or are in the obligation to switch to another business.

Your success will depend entirely on your business model and ability to innovate.

Hi, just my two pence.

I have worked on two food business projects initiated by two different South African clients. (I am now handling another one in implementing his project, again in the food business)

Both of them are massive hits on the island, for two main reasons :

(1). The promoters did take into account local culture and behavior

(2). The promoters had no pretensions of imposing their standards on Mauritius...they came and adapted themselves while keeping a close eye on price-quality ratio,

Market intelligence, market and feasibility studies are essential. But these should be done while having a good grasp on local information.  Your business plan or contacts without the BOI will help in establishing the 'legal feasibility' but it wouldn't be enough to support a financial venture of its own.

So, for me, the first step is to understand the island where you plan to set feet on.

Nadeem

Did you end up moving?

Hi,
In case you intend to buy a house with enough space for all your family members, I have one property. I am not a property dealer so I will not claim any profit, I just want to relocate to a place close to my place of work. For now I am residing in the North of Mauritius near Grand Bay (Tourist Village). ***

As far as your business is concerned, the Government is very helpful to foreign businessmen and you may liaise with the Mauritian Board of Investment, they will guide you.

Regards,
Northwood
18.06.2017

@ Northwood - surely this SOUTH AFRICAN and therefore a non - Mauritian would NOT be allowed to buy your house though - you must know that??

I suppose when they get their Mauritian citizenship, they will automatically be entitled to buy property here.

NorthWood wrote:

I suppose when they get their Mauritian citizenship, they will automatically be entitled to buy property here.

Well acquiring citizenship is largely hypothetical. Besides the number of years that one has to reside in Mauritius before he/she can make an application, there is no guarantee in getting naturalised.
This remains the prerogative of the Prime Minister's Office.

Meanwhile the property will have doubled or tripled its sale value or in a worst case scenario, there might be amendments to exiting legislation regarding acquisition of properties by foreigners.

bingo12 wrote:

@ Northwood - surely this SOUTH AFRICAN and therefore a non - Mauritian would NOT be allowed to buy your house though - you must know that??

Non-citizen can still buy properties in Mauritius. However, they will have to fullfil the requirements of the Governement of Mauritius. There are different scheme that have been put in place so that non-Mauritians can buy properties.

If you are interested to know more, just let me know and I will send you more details.

The cost and time it takes South Africans to move to Mauritius

24 July 2021

source:
https://businesstech.co.za/news/trendin … mauritius/


Now more than ever South Africans are plotting scenarios in which their families enjoy a safe existence, and where their companies can operate without threat.

According to High Street Auctions managing director James Dall, South Africans can relocate three generations of their families to Mauritius – with permanent residence – for less than the cost of a mid-sized family home in an affluent Cape Town suburb.

Dall said Mauritius is the only place in the world where South Africans can buy luxury property and secure residency for three generations for less than R6 million.

“For most of us, the key priorities are social and political stability, financial security and the opportunity for growth – all of which are sadly lacking in South Africa at the moment,” he said.


“Mauritius’ fast-growing status as an investment, financial, trade and residential destination, has been corroborated by the World Bank ranking it as the easiest place in Africa to do business and by the World Economic Forum’s ranking of the country as the most competitive economy in sub-Saharan Africa.

“This ‘ease’ is greatly expedited by the new Business Facilitation Act that came into force in May 2017 with the goal being to minimise business registration delays and speed up company incorporation.

“And considering that companies are authorised to commence operations right after the incorporation is completed, it’s an excellent initiative.”

There are three ways to register a company in Mauritius:


Call in at the Registrar of Companies in Port Louis to initiate the process and fill in the necessary forms;
Register yourself on the online system (Cbris) and proceed with the online application and payment. You will have to collect your certificates in person; or
Contact a registered professional who will do it for you – for a fee.
Dall said that Mauritian taxation is also more favourable to both individuals and corporate entities, which are taxed at a flat rate of only 15%. Additionally, there is no Capital Gains Tax and Mauritian authorities do not require any Estate Duty should an owner pass away.

High Street Auctions said that the Mauritian government’s recent changes to investment thresholds and the extension of work, residence, and retirement permits have further enhanced the island’s attraction for families looking to relocate there.

“In June 2020, finance minister Renganaden Padayachy announced changes that made it even easier for foreign investors to buy property, work open businesses and retire on the island – with Mauritius’ Permanent Residence and Work Permits having been combined into a single permit and extended from ten to twenty years,” said Dall.

Other adjustments include the lowering of the minimum investment for an Occupational Permit (OP) from $100,000 to $50,000.


Most South Africans relocating families to Mauritius, do so through property investment and the Property Development Scheme (PDS) which allows for the development of residential resorts and estates designed to facilitate non-citizens in acquiring both residential property and residency in Mauritius.

For a minimum investment of $375,000, investors obtain permanent residency for themselves, their spouses, children of all ages as well as their parents with the procedure being relatively simple and easy, said High Street Auctions.

“A significant advantage to buying in property in Mauritius is that it allows South Africans to use their rands to invest in a dollar-based property market,” said Dall.

“And investors also have a choice of several exceptional and unique developments around the island, making it very easy to find a home to suit a variety of lifestyles and needs.”

At High Street Auctions’ inaugural Mauritian auction on July 28, a total of 17 existing and off-plan properties will come under the hammer. These range from luxurious penthouses and contemporary apartments to lavish villas all situated within exclusive coastal developments.

Existing properties include three contemporary two-bedroom apartments in Domaine des Alizees Club and Spa in Grand Baie; a luxury villa in Serenity; and a four-bedroom apartment in Manta Cove.

Investors who prefer to have a say in the finishes of their homes, and who have more time on their side, have numerous off-plan options which include: Six two-bedroom apartments and two penthouses in Ki-Resort, Grand Baie, and four villas in Secret Private Villa Resort.

Buyers of properties that are being auctioned off-plan have an option to pay for their acquisitions over two years.

Mauritius has several hospitals and retails centres with top international and South African brands, noted Dall. The education system is essentially based on the British model and the curricula of schools on this island nation are therefore amongst the top internationally recognised programmes.

And, in recent years, Mauritius has steadily built up its tertiary education sector to world-class status in the country’s concerted efforts to position itself to become a knowledge hub in Africa.

“If you are considering making the move, bear in mind that one cannot ‘up sticks’ overnight – it can take anywhere between six months and a year to complete all that is necessary to buy property, apply for residence and get through all the logistics of moving countries and moving house,” said Dall.

Also Read: More South Africans target a move to Mauritius with new visa rules

https://businesstech.co.za/news/wealth/ … isa-rules/