Wealthy South Africans moving to a small island nation which is the safest place in Africa to live

Thousands of wealthy South Africans have moved to Mauritius because of its stable business environment, personal safety, low tax rate, and relaxed lifestyle.

Mauritius is a small tropical island 2,000 kilometres off the southeast coast of Africa, with a population of 1.3 million.

It was traditionally known in South Africa as a luxury tourism destination. However, over the last few decades, it has become an economic hub.

The island nation transitioned from a low-income economy to an upper-middle-income diversified economy with a stable business environment.

Mauritius is also one of Africa’s most stable democracies, consistently ranking at or near the top of the Ibrahim Index of African Governance.

With a corporate and personal tax rate of 15% and a stable business environment, it has positioned itself as a gateway for investment flowing between Asia and Africa.

It was not only Asian countries which saw the benefit of having a base in Mauritius. Many South African companies have also taken advantage of these benefits.

These companies include Investec, Standard Bank, Absa, RMB, Sanlam, Discovery, Seacom, MTN, Spar, Pam Golding, and Seeff.

Mauritius also makes it attractive for wealthy South Africans to move there through property purchases or special visas.

People who invest a minimum of $375,000 in an EDB-approved real estate scheme automatically get permanent residency.

South Africans over 50 can opt for a retirement visa, which offers an easy path to a 10-year renewable residency permit.

People who want to actively manage a business or structure an investment holding company out of Mauritius also have the option of an Investor Occupation Permit.

To qualify, the person must incorporate a company in Mauritius and transfer a minimum initial investment of $50,000 into that company’s corporate bank account.

Thousands of wealthy South Africans moved to Mauritius

The low tax rate, political stability, business-friendly environment, and low crime rate have attracted many rich South Africans to Mauritius.

The Global Peace Index (GPI), published annually by the Institute for Economics and Peace, ranks Mauritius as the top in Africa and 18th globally.

It also consistently ranks as the top country in Africa for security and rule of law in the Ibrahim Index of African Governance (IIAG).

The violent crime and murder rate is also much lower than regional averages across sub-Saharan Africa, and especially in South Africa.

Mauritius is also much wealthier than South Africa on a per capita basis, which is a good measure of the living standards of the population.

These factors, along with Mauritius’ proximity to South Africa, have made it a popular choice among wealthy individuals seeking to immigrate.

Between 2010 and the mid-2020s, South Africa was the single largest source of foreign direct investment (FDI) into Mauritius

Pam Golding Property Group said that Mauritius is a popular choice for South Africans seeking safety, stability, and investment opportunities.

“Mauritius continues to attract affluent global residents seeking a secure, tranquil lifestyle in a tropical setting,” said Pam Golding CEO Andrew Golding.

“Mauritius is drawing a growing expatriate community seeking a place to live, work, and invest in a safe and welcoming environment.”

Brenthurst Wealth Management director Magnus Heystek said many South Africans have moved to Mauritius to eventually retire there.

“As a long-standing resident and visitor, I can attest to the growing number of South Africans who have moved or intend to move to Mauritius,” he said.

“The major attraction is the very low crime rate, a low tax rate, and the absence of foreign exchange controls.”

He said that the Mauritian people cannot fathom how we can live in a country where the daily number of murders is higher than the death rate in war-torn Ukraine.

“Many South African businesspeople are also setting up their global businesses where they will not fall under the BEE regime,” he said.

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Photos of Mauritius

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