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South African investors flock to Mauritius
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January marked a pivotal moment for Rawson Property Group as it opened its doors on the popular island destination for the first time.
According to Rawson Property Group MD, Tony Clarke, this expansion will provide attractive investment opportunities for South Africans.
“Mauritius has become a very popular emigration destination for South Africans, and is also a favourite spot for business relocation and expansion,” said Clarke.
“It has enviable political stability and an impressive track record of economic growth, with very liberal, business-friendly policies and extremely favourable tax laws.”
Indeed, with income tax capped at 15% and land transfer tax at 5%, Mauritius is a very tax-efficient destination for South Africans. Zero inheritance and capital gains tax only adds to the appeal for those weighing up the benefits of long-term investments like property.
The countries where South Africans are buying offshore property
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South African buyers have continued to demonstrate a strong appetite for offshore property investments in 2020, despite the impact of the coronavirus pandemic, says by Dr Andrew Golding, chief executive of the Pam Golding Property.
Golding said the biggest demand from South Africans is unequivocally still for Portugal, with the ultimate goal being EU citizenship. This is followed by Mauritius and Grenada – which offers a path to US residency.
“The US will always be a pull for those looking for a bigger and better lifestyle, and therefore the EB-5 Green Card programme will always be interesting for high net worth South Africans looking to participate in the biggest economy in the world,” said Golding.