Mauritius has been attracting more and more investors and residents over the last few years since the gloomy international business climate – why?
If we take a closer look at what the country has to offer and the changes it has managed to implement in order to attract this needed FDI it may offer a clue.
Property in Mauritius although only recently available to foreigners through the Mauritius RES, IRS and IHS schemes has provided a hit with buyers from all around the world putting money down to stick a claim to a little piece of this paradise island. One could argue that the many tourists that have flocked to the island over the years have served up as “pent up” claim while foreigners could not purchase in Mauritius (up until end of 2005) so when the government made changes to the legislation allowing for them to buy there was was something of a mad rush.
Fast-forward to around 2008 and the world's financial system basically melts down leading us into quite a serious recession globally, Mauritius certainly has not escaped the impact of it but has managed to still show impressive growth and where other countries are taking strain in terms of their property markets Mauritius still has quite a buoyant market with new developments springing up both in the residential and commercial sector. The manufacturing and agricultural industries, more specifically textiles and sugar have dropped off primarily due to the competitiveness of the eastern markets and price drops in sugar – this lead the government to take quick and bold steps to find alternative revenues for FDI – by encouraging off- shore business's to setup in Mauritius with attractive tax incentives, stable business and political environments, allowing foreigners to invest in property and relaxing VISA controls Mauritius has managed to maintain a positive growth rate.
Ranked among the easiest places in Africa if not the world to business by various publications things like having the second cleanest air in the world, its ideal geographical location between Africa and the East, natural beauty and last but not least sound micro and macro economic policies put Mauritius in a very strong position for the next upswing in the global economy.
When considering whether or not Property in Mauritius is a good option as an investment it is a good idea to visit the Board of Investment of Mauritius website to get more specific details on legislature relating to foreign ownership.