Ken Annandale and Penny Jones are one of many couples who have moved from South Africa to Mauritius simply because “it’s a beautiful place.”
They had been regular visitors to the island over many years – the first time was on honeymoon – and already knew that it ticked all the boxes for their outdoor lifestyle. They fell in love with the island, its people, and its cuisine. “It’s such a diverse place, a peaceful nation. Our neighbours are Indian, French, Russian, Hungarian – we would never have met people [from countries like these] in South Africa unless we joined a club,” said Ken.
The couple left Cape Town, where they had various businesses, and family, searching for somewhere to live that was safe and where they could enjoy all their outdoor sports. “Penny and I are cyclists, we own a couple of kayaks, we love scuba diving, we enjoy the water, and Mauritius offered us this opportunity to come and play here,” he said at a recent Economic Development Board (EDB) roadshow.
They continue to look after their South African online business, which they can operate from anywhere – including the beach if they so desire.
“One of the things we love about Mauritius is the food. We love to try different types of food and especially love the local cuisine and the fusion between European and Asian styles. I was concerned about whether I could buy the food I’m used to, and the answer is yes. Every year more shops open catering to our specific needs, including a highly convenient delivery service. I love to buy fresh fruit and vegetables, herbs and spices directly from locals at the market. It’s amazingly cheap and affordable,” said Penny.
They’ve also had good experiences with medical practitioners contracted for an eye operation and spinal fusion.
“I believe if you enjoy the beauty of the outdoors, then Mauritius is the place to be. We wouldn’t hesitate to encourage our friends and family to join us,” said Ken.
Growth and prosperity
Thousands of island lovers have already realised the benefits of living in Mauritius and running a business from the island, with 7 100 South African companies already established, according to Ken Poonasamy, EDB CEO.
The expected growth rate for 2022 was 7.2% due to a solid rebound in the tourism sector and the recovery of all manufacturing sectors. Poonasamy said this should be even higher in the next financial year as the island continues the path of continuous growth and prosperity.
Safe, stable, and predictable. These are some of the factors that contribute to steady progress and attract companies to Mauritian shores. “There is no policy reversal, which is important for investors. The government is investing massively in the infrastructure landscape – telecommunications, road network, airport and port. The island is connected to the world via three fibre optic cables and there are two more to add in the future,” Poonasamy said at the roadshow.
Mauritius has an attractive fiscal regime with many advantages and incentives for living on the island and opening a business here. These include:
Free repatriation of profits/ dividends
No exchange control since 1994
Free movement of capital in Mauritius
No capital gains tax
15% value-added tax and income tax
15% tax rental income
No real estate, wealth or inheritance tax
5% registration fees on the purchase of property
5% land transfer tax/transfer rights
3% corporate tax on profits derived from exports of goods
No import duties on equipment and raw material
No export duties in Mauritius; VAT on raw materials is payable at customs clearance but reimbursable on exports
8-year tax holiday under the Investment Certificate and negotiable and tailormade incentives under the Premium certificate
8-year tax holiday to manufacturers of eligible high-tech products (engineering sector)
The investment tax credit of 15% per year for investment in high-tech manufacturing equipment
5-year tax holiday under the e-commerce scheme
Fiscal Incentives for R&D Expenditure
Tax holiday for companies involved in specific innovative projects.
Benefits of holding a residence permit in Mauritius
Property investment with a 10-year residency incentive makes a strong argument for the island as Plan B for those wanting to future-proof their tomorrow. As an alternative to traditional property acquisition for residency, investors can now invest in the 2Wealth real estate fund and obtain a 10-year renewable residence permit.
2Wealth caters for real estate investors who want to generate rental income in USD from a pool of high-end residential properties in premium locations, whether in a resort or on the sought-after beachfront. The forecast for the average annual return is 6.5% over 10 years.
The properties are all developed by 2Futures, the leader in luxury real estate developments in Mauritius – and managed by equally respectable operators such as Sunlife, Domitys, Alizee Resort Management and 2Futures Holidays. The fund administrator is International Assurance Limited PCC, a fully regulated insurer in Mauritius.
Those who take advantage of this opportunity have all the above tax advantages, access to modern infrastructure and facilities such as schools and hospitals, and a dream lifestyle in a politically and socially stable country.
Thousands of island lovers have already realised the benefits of 
English