Obtaining Mauritian permanent residency status, with four months’ annual holiday on the island in a luxury villa, has become available to South Africans via a joint ownership solution which sees three families buy portions in that villa.
Richard Haller, director of Pam Golding Properties Mauritius said the Heritage Villas Valriche, positioned between the sea and mountains on the sought-after 2500ha Heritage Bel Ombre Estate on the island’s pristine south west coast, is the first real estate project to offer this opportunity.
Each family buys one of three portions for $458000, and can then use the villa four months, and qualify for permanent residency. The fully-furnished villa can also go into a rental pool to generate income when not in use. Meeting the requirements for a minimum investment of $375000 to qualify for residency, the portions can be purchased by related or unrelated owners.
South Africans have started to migrate to Mauritius permanently or to work there for periods of the year. The country is considered to be one of the easiest places in Africa to start a business.
“Over the past 18 months we’ve seen a huge increase in South Africans wanting to spend a few months a year on the island or to move here permanently. With no vaccination certificates now required, tourism has soared and the availability of apartment or hotel accommodation from now until 23 February 2023 is close to non-existent, while flights from South Africa are full until early January,” said Haller.
Peet Strauss, development sales manager for Pam Golding Properties Mauritius said the purchase of a share at Heritage Villas Valriche was an ideal solution for those looking to spend a few months there, enjoying a relaxing lifestyle and idyllic climate.
“A key advantage is that three generations of a family or three siblings or friends, can own a luxury three-bedroom villa together, with everyone achieving permanent residency. As an Integrated Resort Scheme (IRS), homeowners with permanent residency can even bring their parents or in-laws with them under their permit, enabling them to relocate to Mauritius any time they choose,” he said.
“Another way of viewing this is as a purchase that allows an entire family to reside in Mauritius all year-round while the villa remains in the rental pool. This will enable them to rent long-term anywhere on the island and maybe once a year holiday together on the estate,” he said.
Strauss said the calibre and wide range of amenities of the estate could not easily be replicated and may never be repeated as it took vast investment and time.
“This is a low density, sustainable development with spectacular views and lush green spaces. Here you can acquire a third of a villa with membership in a private beach club, a great golf course with a second one under way, with restaurants and a broad variety of outdoor leisure activities including kite surfing, hiking and biking. Furthermore, you will have your own pool and garden plus a golf cart to get around the estate, he said.
“Over the years we have seen a number of clients purchase three small apartments, one for themselves and one each for both of their adult children to cover them all for residency. They would tend to buy a two-bedroom apartment of around 100m2 a distance from the sea with no amenities around them. Now they can all achieve permanent residency status with the option of buying into a luxury villa in a world-class estate,” said Strauss.
If any owner wishes to sell their portion, it will be offered to the other two existing shareholders first, and if they do not wish to buy, the portion can be sold on to a willing buyer who will then qualify for residency. However, the seller will lose their residency which is attached to the property.
Heritage Villas Valriche is well-established, with only 40 undeveloped plots remaining out of a total of 288.