Mauritius: grabbing investors’ attention
Brenthurst’s first offshore office is capitalising on the island’s reputation as an attractive business destination
Mauritius has capitalised on its status as a business-friendly, politically stable economy right on the continent’s doorstep to attract significant investment. Brenthurst Wealth recognised this early on and has used this to its advantage.
Gavin Butchart, the head of Brenthurst’s first offshore office, says the island offers a new frontier that many South Africans are exploring as both a business and expat destination.
“Initially we acquired an asset management licence, with most of the interest in the investment property opportunity,” he says. “This is becoming more appealing as the Mauritian government has quite recently reduced residency and business investment requirements.”
For this reason, Brenthurst’s offshore office is facilitating mostly property investments, including the financial structuring and permits needed by foreign investors. Such is the demand that Brenthurst plans to add a Mauritius property centre to its
Sandton office later this year.
“We’re seeing a lot of enquiries from people 50 and older who are looking to retire and settle in Mauritius,” says Butchart. “The government has been promoting retirement visas because these people will be retired and not taking work away from Mauritians; they’re bringing in foreign investment and will be spending money in the local economy.”
Butchart expects to see continued interest from South Africans weighing up their options.
Though Mauritius is quite small, the government has committed to accepting more immigrant families. There is a strong demand for opportunities from SA, as well as from other countries.
“It also encourages exporting from Mauritius and offers preferential tax rates for exporters of certain goods. They’re doing all they can to be attractive to foreign investors,” says Butchart.