Home South Africa News Mauritius opens up for industry, funding alternative

Mauritius opens up for industry, funding alternative

5

By Opinion, Adri Senekal de Wet Time of article published2h in the past

Share this text:

JOHANNESBURG – A outstanding Cape Town-based entrepreneur and businessperson, Chris Engelbrecht, the managing director of Supertech Yachts, Super Syrups and quite a lot of different firms, and likewise the chairperson of Asasi, noticed a novel alternative for traders enthusiastic about broadening funding portfolios in Mauritius.

Engelbrecht advised Business Report (BR) in an unique interview this week that “a growing number of people are interested in the vast opportunities presented outside their birth country. This interest to potentially consider greener pastures is intensified by national and international political shifts, unstable markets and the accelerated ecological changes taking place all over the world”. Individuals having a look to get right of entry to markets or search a political panorama this is extra aligned to their present and potential wishes, relatively than simply immigrating to some other nation, want dynamic funding immigration choices.

Gavin Butchart, Head of Operations at Brent Wealth, lately wrote: “As countries around the world adjust to a new way of life in the wake of the Covid-19 pandemic and prepare to open their borders, Mauritius made bold plans and adjusted its legislation to attract more foreign investment to the island. It is attracting attention from several territories but especially from South Africa as local citizens seek diversification for investments or start researching the island’s retirement options.

“Like several other countries reliant on tourism, Mauritius was negatively affected by lockdowns and travel restrictions as part of the governments’ responses to the Covid-19 pandemic, yet its economy appears somewhat resilient and Mauritians themselves are active in its attractive property market. Although Mauritius wants activity to pick up it has taken extra caution in opening its borders and will be doing so in a phased approach.

“While waiting for the borders to open, the Mauritius government has introduced changes to the finance act 2020, as part of the strategy to attract more foreign investors,” Engelbrecht noticed the chance.

“It’s more straightforward than you suppose to reside in Mauritius and earn bucks. If you or your circle of relatives wish to to migrate or open a again door, now greater than ever is the fitting time, particularly as the worth of the rand is depreciating and our nation is immersed in large debt. We now be offering stocks in a yacht, stocks in a industry, and an career allow as an investor in Mauritius.

The general value of the bundle is $60000 (about R1million) and contains:

* Shares within the industry SuperTech Yachts, which has orders and is approved to finish one custom-build yacht in keeping with 12 months.

* Shares in finished Leeuwin 52ft energy yacht that is able to cross, value $1m. Additional to this, an source of revenue from chartering this yacht 20 weeks of the 12 months.

* 2 weeks in keeping with 12 months dwelling on board and use of the yacht.

* Occupation allow to reside in Mauritius for 10 years.

Engelbrecht’s pastime for boats comes from formative years, from kayaking white water rivers to proudly owning a in the community constructed 42ft energy catamaran. Wanting one thing slightly greater than the manufacturing boats which are to be had pressured him to design and construct a luxurious tradition constructed 52ft energy catamaran. The consequence was once so distinctive and remarkable that Engelbrecht and his brother Hugo along side Francois van Dyk, a veteran boat builder determined to start out a couple of catamaran traces from 40ft sail to a 65ft 8-cabin luxurious yacht with diesel outboard motors. The major get advantages in Mauritius is the low corporate tax at 3 to 15percent and no dividend taxes.

Chris Engelbrecht can also be contacted by means of electronic mail for more info at [email protected] or click on right here supertechyachts.com

BUSINESS REPORT