Mauritius opens up for business, investment opportunity

By Opinion, Adri Senekal de Wet Time of article published Sep 28, 2020

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JOHANNESBURG - A prominent Cape Town-based entrepreneur and businessperson, Chris Engelbrecht, the managing director of Supertech Yachts, Super Syrups and various other companies, and also the chairperson of Asasi, spotted a unique opportunity for investors interested in broadening investment portfolios in Mauritius.

Engelbrecht told Business Report (BR) in an exclusive 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 looking to access markets or seek a political landscape that is more aligned to their current and prospective needs, rather than just immigrating to another country, prefer dynamic investment immigration options.

Gavin Butchart, Head of Operations at Brent Wealth, recently 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 spotted the opportunity.

“It’s easier than you think to live in Mauritius and earn dollars. If you or your family want to emigrate or open a back door, now more than ever is the right time, especially as the value of the rand is depreciating and our country is immersed in massive debt. We now offer shares in a yacht, shares in a business, and an occupation permit as an investor in Mauritius.

The total cost of the package is $60000 (about R1million) and includes:

* Shares in the business SuperTech Yachts, which has orders and is licensed to complete one custom-build yacht per year.

* Shares in completed Leeuwin 52ft power yacht that is ready to go, worth $1m. Additional to this, an income from chartering this yacht 20 weeks of the year.

* 2 weeks per year living on board and use of the yacht.

* Occupation permit to live in Mauritius for 10 years.

Engelbrecht’s passion for boats comes from childhood, from kayaking white water rivers to owning a locally built 42ft power catamaran. Wanting something a bit more than the production boats that are available forced him to design and build a luxury custom built 52ft power catamaran. The result was so unique and exceptional that Engelbrecht and his brother Hugo together with Francois van Dyk, a veteran boat builder decided to start a few catamaran lines from 40ft sail to a 65ft 8-cabin luxury yacht with diesel outboard motors. The main benefit in Mauritius is the low company tax at 3 to 15percent and no dividend taxes.

Chris Engelbrecht can be contacted via email for more information at [email protected] or click here supertechyachts.com

BUSINESS REPORT

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