Have you decided to change the atmosphere and setting to settle in Mauritius? Several facilities are available to you! Indeed, Mauritius is one of the most popular tourist destinations. Make your dream come true by buying a property in a heavenly setting and enjoy the many benefits available to you! So, without further ado, let’s dive into this blog and learn some of our best reasons to settle in Mauritius in 2023.
1. The long-term premium visa
Mauritius has set up a new premium visa for non-residents who wish to make long stays to prepare for their installation. The premium visa is valid for one year and can be renewed. It mainly targets retirees as well as teleworkers who wish to settle with their families or work remotely from Mauritius. To stay long-term, applicants with a Premium visa simply need to present proof of their long-stay plans and sufficient travel and health insurance for the period of intended stay.
2. An economically dynamic country!
Since independence, the economy of Mauritius has grown by nearly 5% per year on average. This constant economic progress attracts many important investments. Today, the Mauritian economy is one of the most successful countries in Africa. Real estate is still one of the buoyant sectors. Indeed, thanks to its diversified and dynamic economy, many real estate investors invest in Mauritius.
3. New administrative measures to facilitate procedures for foreigners
The spouse of the holder of the residence or work permit does not need a permit to work or invest in Mauritius. In addition, the permit also allows the permit holder to have his parents reside as dependents. Permit holders will also be able to apply for a permanent residence permit if they keep their permit for three years.
Those who have held their permit for 3 years has made a turnover of Rs 150,000 can have their permanent residence permit for a period of 20 years. This permit also makes it possible to invest in companies without restriction in terms of shareholding. Mauritian taxation has a single rate of 15%, with no upper limit. To take advantage of the tax benefits, you must be a tax resident.
Foreigners also benefit from several advantages, such as the absence of any tax on real estate capital gains in the event of resale, the absence of property taxes, local tax, housing tax, etc. For this, foreigners will have to take steps to obtain their Mauritian nationality or their residence permit. It is, therefore, sufficient to spend more than 183 days of the tax year on the island to be considered a tax resident.
4. Real estate programs specially designed for foreigners
Imagine yourself on a paradise island in a magnificent villa or a luxury apartment! Mauritius is ideal for a solo life, as a couple, as a family, and perfect for living in retirement. To realize the dream of many foreigners, Mauritius has created the Property Development Scheme (PDS). This real estate scheme is dedicated to foreigners who wish to buy a property in Mauritius. Several types of real estate are available so that you can find the property that suits you.
5. The labor market and the economy
European diplomas are highly valued, and there are real job opportunities. The salary obviously depends on the level of the diploma and the experience. The market for new technologies is expanding because Mauritius has embarked on the creation of “smart cities,” which is one of the most important digital platforms in Africa, bridging the gap between Europe and Asia.
The island is considered a “Hub” in the middle of the Indian Ocean. The salary often depends on the level of the diploma and the experience and can vary according to the nationalities. It is, therefore, necessary to be well-informed before signing a contract.
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