More South Africans swap SA for island life

2019-10-02 06:02

South Africans leaving the country permanently opting for life in Mauritius is on the rise.

Jonty Leon, tax attorney at Tax Consulting SA, revealed the number has increased “exponentially.”

He said greater financial and tax security has influenced South Africans opting for the island life in Mauritius.

According to Leon, critical factors that influenced migration include the lack of economic growth, the devastation of state capture and recent talks of using people’s hard-earned savings to bail out South Africa’s badly managed state-owned enterprises. He said these are making South Africans looking for safe havens, such as Mauritius where their assets will be protected.

Leon said potential growth to increase prosperity was being considered.

“The island is fast-paced in its overall growth, seeking to expand its outreach globally and trying to keep up with global trends such as financial technology and blockchain.”

“The island seemingly offers a more stable political and financial climate, and its geographic location and affiliation to the African continent makes it attractive to South Africans”, says Aditi Boolell, Lead Advisory at the Temple Group in Mauritius.

“Mauritius may still be a developing country compared to the United Kingdom, Australia or New Zealand, but it offers sound infrastructure, free public education to its residents and reliable private and public healthcare facilities,” said Boolell.

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