Bradley Hackford, firm specialised in international relocation procedures, has just published its 2017 top 10 most fiscally attractive countries in the world where Mauritius has achieved the 7th place. In fact, Mauritius boasts important advantages for people wishing to invest in their assets as well as for entrepreneurs, thanks to its attractive tax system. Below are some of the most important factors that have ranked Mauritius in the Top 10 most appealing countries in terms of expatriation.
Located in the Indian Ocean, interconnecting Africa, India and Asia with the rest of the world, Mauritius (1,200,000 inhabitants whose capital city) successfully combines business and art of living. Over the past 30 years, the country has built up a solid reputation as a reliable and safe investment hub. While the Mauritian economy relied formerly and essentially on sugarcane cultivation, it has now shifted to more diversified and sophisticated service-oriented economic setup, largely driven by one of its most key components, the financial services.
An attractive tax system
Mauritius boasts a low tax system in order to encourage foreign investment and the setting up of local and foreign companies. Depending on the type of revenue, taxation varies from 0% (on dividends generated abroad) to a maximum of 15%. Furthermore there is no inheritance tax and no net wealth tax.
Work and live in Mauritius is also possible through the creation of resident company generating a certain level of annual turnover. In this case, it is possible to obtain a residence permit and a work permit in Mauritius.
An exclusive art of living that attracts the millionaires
Mauritius is very sought-after thanks to its tropical climate, beaches and world-famous hotels, its economic dynamism, luxury villas, crystal-clear lagoons, technological advances (Internet access : Mauritius ranked 8th according to Internet Affordability Index).
Life is comfortable on the island: Mauritians are famous for their hospitality and their legendary smile, and the island offers a wide array of leisure activities including nautical sports, restaurants, casinos, clubs, cinemas….
Another advantage is that French is commonly used even if English remains the official language. Hence, both English and French-speakers will feel at ease in their daily life on the island. Moreover, Mauritius is home to a wide variety of top quality French and English international schools for those who wish to settle in the island with their families.
Finally, one of the most important factors which have contributed to rank Mauritius among the top 10 most fiscally attractive countries in the world is its economic, political and social stability.
A lot of wealthy Europeans are indeed turning to Mauritius to buy a luxury property and/or to set up a company. According to the AfrAsia Bank Africa Wealth Report 2017, the number of US dollar millionaires (USDM) living in Mauritius has increased by 230% over the past 10 years. This figure ranks the island Number 1 of the most competitive countries in Africa in terms of High Net Worth Individuals’ growth.
Becoming tax resident in Mauritius: acquisition of a real estate property
To expatriate and become a Mauritian resident, the simplest way to proceed is to acquire a real estate property in Mauritius. Foreigners are allowed to invest in the Mauritian property market through certified real estate schemes such as the PDS (Property Development Scheme) which now replaces the Integrated Resort Scheme (IRS) and the Real Estate Scheme (RES). Units under the PDS are sold at a minimum selling price of $ 500,000.
However, units falling under IRS and RES are still available for sale or resale. All these units are prime properties located on the coasts of the island. Should you wish to invest in a villa, please visit our Properties and Design section and you will surely find your dream property in Mauritius.
For more information, please read through the following post: How to become a homeowner in Mauritius?
If you are interested to receive more information about Mauritius destination : subscribe to our newsletter