Obtaining Mauritian Permanent Residency status, with four months’ annual holiday on the island in your own luxury villa, has become available to South Africans via an innovative joint ownership solution which enables three families to buy portions in a villa.
Says Richard Haller, director of Pam Golding Properties Mauritius: “The well-known Heritage Villas Valriche, ideally positioned between sea and mountains on the sought-after 2 500ha Heritage Bel Ombre Estate on the island’s pristine south west coast, is the first real estate project to offer this opportunity.
“This innovative option means that by buying one of three portions for USD458 000, you and your family can enjoy all the world class facilities on your doorstep, with an annual usage of four months, and qualify for permanent residency. In addition, the fully-furnished villa can go into a rental pool to generate income when not in use. Meeting the requirements for a minimum investment of USD375 000 to qualify for Residency, the portions can be purchased by related or unrelated owners.
Interest in Mauritius soars
“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.”
Says Peet Strauss, development sales manager for Pam Golding Properties Mauritius: “The purchase of a share at Heritage Villas Valriche is an ideal solution for those looking to spend a few months here, enjoying the exceptional 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. And when not in use, the villa can be put into the rental programme.
“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.
“It is even easier if a family buys the three shares, which then allows retired parents to stay all year round – with the advantage that the flight is only four hours from South Africa - while up to three siblings enjoy the residency status with all their dependents. This will enable the family to make up their own roster and still have the option to holiday together.”
Importantly, says Strauss, the calibre and wide range of amenities of this estate cannot easily be replicated and may never be repeated as it takes 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.
“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 100sqm 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.”
If any owner wishes to sell his/her 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.
