Some Light At The End Of A Dark Tunnel For Mauritius

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The government was forced to mitigate the impact of the pandemic on the economy. With a larger public service, it will be hard to recalibrate these economic challenges. However, the 2021-22 Mauritius budget speech comes concurrently with the relief of the recent announcement that the country is opening its borders.

On the 11th of June 2021, the Minister of Finance, Economic Planning and Development, Dr Renganaden Padayachy, presented the Mauritius Finance Budget for the next fiscal year. With the aim of rebooting the economy, he discussed investments, economic strategy, restoring confidence, tax, and energy measurements.

The speech provided the government’s vision in terms of balancing social spending, its commitments against collections of revenues, boosting of the economy and preservation of public wealth under the Covid pandemic. The increase in the provision of incentives for small and medium enterprises will assist with the creation of jobs for social and economic stability in both the public and private sectors.

According to the Minister, the Mauritius strategy will be implemented based on the following points:

  • Recovery: This involves job preservation and creation;
  • Revival: Forecasting a GDP growth of 6% for the world and 9% for the country; and
  • Social Resilience: Unemployment kept at 9.2% for 2021 and forecasted to go under 4% in 2022.

The emphasis on the above items will contribute to the increase of the local economy, job market and propel additional consumption. Whilst the attentive focus is on overall reform, public care is the pillars of this budget, without any major changes to the tax regime. This is a refreshing relief for all, including industry and enterprise.

An island economy that is subordinate to foreign investments and the introduction to the relaxation in residency/occupational permit rules will enable the country to boost its tourist attraction. Having said that, it will be easier to obtain residency in Mauritius. The reviewed occupation permit rules indicate the following:

  • Foreign nationals wishing to apply for an Occupation Permit to work and reside in Mauritius can do so under the three categories: Investor, Professional and Self-Employed.
  • The validity period for an Occupation Permit as a Professional will be extended to 10-years.
  • Foreign nationals holding an Occupation Permit as a Professional will be given the flexibility to interchange between employment opportunities without having to submit a new application, provided that the minimum criteria are met.
  • Spouses of Occupation Permit holders wishing to invest or work in Mauritius will be exempted from applying for an Occupation Permit or Work Permit.
  • The maximum age limit of 24-years for dependants will be waived.
  • Foreign nationals may apply for an Occupation Permit irrespective of their visa category upon arrival.
  • A new permit category is being introduced under the Occupation Regime; A 10-year Family Occupation Permit for those contributing USD250,000 to the Covid-19 Projects Development Fund.
  • Holders of a 10-year Permanent Residence Permit will automatically be extended to 20-years.

The Mauritius government has taken a proactive approach by acknowledging the current short comings in positioning Mauritius as a long-term, family friendly jurisdiction. This is evident in the above suggested extension of the right of spouses of Occupation Permit holders to freely invest and/or work as well as the waiver of the dependent maximum age limit, a long-standing contentious issue of concern for non-citizen families seeking an inclusive destination conducive to long-term settlement.

From an immigration perspective, there are many factors, both immigration and tax-related, that can make planning invaluable. Therefore, to avoid costly mistakes, you must seek professional assistance and follow due diligence when travelling to Mauritius.

Xpatweb expatriate solution specialists and partners provide expert advice focused on your circumstances and requirements and are well-versed with intricate knowledge of the Mauritius Immigration Law.

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Australia Immigration

Australia Immigration: Current Economic and Security Situation in South Africa

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The challenges of poverty, unemployment and rising crime levels have prompted many citizens to seek out greener pastures abroad, in the hope of providing their children with a brighter future.

Immigration experts noted this growing trend towards emigration as a solution at a recent Emigration Expo, where an increasing number of people indicated their intention to move abroad. Many of these potential emigrants are considering Australia as a viable option and exploring the possibilities to relocate and eventually formally emigrate to the country.

Emigrating to Australia

Australia provides potential immigrants with many employment and business opportunities, as it is a young, multi-cultural and open country, with a steadily growing economy.

Australia’s quality of life and unrivalled natural beauty makes it the ideal destination for South Africans who are dreaming about providing their families with a safer lifestyle and a prosperous future.

Australia’s sporting culture has endured for generations, cultivating a population  that is deeply invested in cricket, rugby, Australian rules football, soccer, tennis and more, providing the base from where the fun rivalry between our two countries stems.

According to Xpatweb’s research and interaction with clients, Australia is considered one of the best countries to live in due to its friendly people and well-paying jobs that promise immigrants a comfortable, modern lifestyle.

A stable economic, political and social environment has made Australia one of the most attractive locations for SMEs or start-ups looking to move or expand their business horizons.

Australian Business Visas

The Australian immigration system makes provision for skilled business people, who meet the criteria of its Business Innovation stream regulations, to live and work in the country.

These regulations allow for the granting of a provisional visa for people with business skills. This visa permits you  to operate a new or existing business in Australia.

The Business Innovation (subclass 188a) immigration route is available to anyone under the age of 55 looking to start or buy into a business in Australia. It is valid for four years and three months, and allows you and your family members to live, study and work in Australia, and eventually be eligible for permanent residence.

The main benefits for this program are the following:

  1. A maximum stay of 4 years and 3 months renewable
  2. Family members can also join while the main applicant is in the country
  3. Possible application for a permanent residence permit where applicable.

Here are the main requirements to apply for the Business Innovation stream:

  • You must be under the age of 55
  • You must score at least 65 points on the immigration points test
  • You must have had ownership of an established business or businesses that has/have at least AU $500,000 turnover for two out of the past four fiscal years.
  • You, your business partner, or both combined, must have total net business and personal assets of AU $800,000 that can be used to establish a business in Australia.

The Business Innovation (subclass 888) is for permanent residence. You can apply for the 888 after living in Australia for two years and if you and your business meets certain benchmarks such us:

  1. Applicant (and partner) have held at least AU $200,000 net main business assets for the last 12 months.
  2. The applicant’s main business has had at least two full-time Australian employees over the last 12 months.
  3. The applicant (and partner) have held at least AU $600,000 net business and personal assets over the last 12 months.
  4. Applicant and partner’s main business generated turnover of at least AU $300,000 for the last 12 months.
  5. The applicant must have spent one out of the two years preceding the application living in Australia.
  6. The applicant must have maintained ownership of the main business for a period of at least two years.

Other Visa Options

Other programs and visas such as the following can be considered where applicable:

  • Investor stream: This provisional visa requires you to invest at least 1.5 million AUD in an Australian State or Territory and maintain business or investment activity in Australia.
  • Significant Investor stream: This visa allows you to continue your investment activities in Australia permanently.
  • Premium Investor stream: This visa allows you to continue your investment activities in Australia permanently and for those who have held a subclass 188 visa in the Premium Investor stream for 12 months and have held a complying investment of AUD $15 million for the duration of your subclass 188 visa.
  • Entrepreneur stream: This visa allows holders and, in some cases, people who have held a Business Innovation and Investment (Provisional) visa (subclass 188) in the Entrepreneur stream, to stay permanently.
  • Short-term stream (Temporary Skill Shortage Visa (subclass 482): This visa enables employers to address labour shortages by bringing in skilled workers where employers cannot source an appropriately skilled Australian worker.
  • Medium -Term Stream (Temporary Skill Shortage Visa (subclass 482): This visa enables employers to address labour shortages by bringing in skilled workers where employers cannot source an appropriately skilled Australian worker.
  • Labour agreement stream (Temporary Skill Shortage visa (subclass 482): This visa is for skilled workers nominated by employers who have a Labour Agreement. It lets you live and work in Australia temporarily. Labour agreements are developed between the Australian Government and employers.
  • Direct Entry stream (Employer nominated scheme visa – Subclass 186): This visa lets skilled workers, who are nominated by an employer, live and work in Australia permanently.
  • Labour Agreement stream (Employer nominated scheme Subclass 186): This visa lets skilled workers who are nominated by their employer live and work in Australia permanently. The Labour Agreement stream might be for you if you currently work, or will work, for an employer who is party to a labour agreement.

Xpatweb’s expatriate solution specialists and partners are trained professionals with intricate knowledge of Australian immigration law. We provide expert advice and visa application assistance focused on your personal circumstances and requirements.

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Mauritius Finally Reopens its borders and welcome all travellers

Mauritius Finally Re-Opens Its Borders And Welcomes All Travellers

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Travel will be allowed for Mauritian nationals, residents and tourists travelling to Mauritius for long stays provided that travellers meet the country’s testing and quarantine requirements.

Passengers will have to undergo a PCR test for Covid-19 seven days before travelling to the country. Upon arrival in Mauritius, a 14-day quarantine at a facility approved by the the government’s health authorities will be mandatory.

Mauritian borders will open in phases during 2021, with the first phase allowing entry to vaccinated travellers only between 15 July and 30 September 2021.

The first phase will enable travellers, including tourists who want to enjoy a resort stay on the island, to enter Mauritius if they are fully vaccinated. They are also required to undergo a quarantine period of 14 days within a government approved hotel.

The second phase will commence from October onwards and will include the full opening of the island to visitors. Travellers will be permitted to enter Mauritius and enjoy its facilities within their chosen resort premises, including the swimming pool and beach, provided that they present a negative PCR test taken within 72 hours prior to departure. This applies only to travellers who are fully vaccinated.

Unvaccinated Travellers must comply with the following travel rules:

  1. Travellers must book a 14-day quarantine including meals and transfers in an officially designated hotel.
  2. Visitors will be required to stay in their hotel room for 14 days and meals will be delivered to the room
  3. Travellers will undergo a PCR Covid-19 test upon arrival, after seven days and on day 14 of quarantine.
  4. After a negative PCR test on day 14, travellers can freely explore the island, move to different accommodation, or go home.

Prior to departure, all travellers must ensure that they comply with the regulations. Airlines will communicate the rules when flights are booked.

The following health regulations will remain in force to ensure a Covid-19 free environment:

  • Passengers must wear a face masks at all times;
  • Passengers must sanitise their hands regularly;
  • Passengers must complete all the required health forms.

This latest announcement by the Mauritian government means that travellers who have missed out on earlier holiday plans to visit the island can now look forward to exploring its pristine white sand beaches, reefs, lagoons and architecturally designed temples.

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Reasons More South Africans Are Choosing To Emigrate To Canada

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Considering Canada as a viable destination

Canada is a country with a stable, growing economy, that is constantly looking globally to attract skilled individuals to contribute towards its success. The country’s need to attract skilled workers presents many South Africans with a prime opportunity to emigrate.

According to research by Xpatweb, South African immigrants in Canada have grown to have a significant presence in the country, increasing in numbers by 15.9% between 2001 to 2011. By 2011, the South African Canadian population was estimated to be about 40,550 and between 2006 and 2015, a further 11,265 new permanent residents from South Africa arrived in Canada.

Gaining entry into Canada

South Africans can gain entry into Canada, in several ways, including via employment offers and family class visa sponsorships, through Canadian immigration programmes that fall under certain visa categories. Individuals may also apply independently to become Canadian permanent residents.

South African skilled workers emigrating to Canada may be eligible to apply for permanent residency under the Express Entry category. Within this program, one may apply under the Federal Skilled Worker Programme, Canadian Experience Class, the Federal Skilled Trades Program, or one of the Provincial Nominee Programmes (PNP). Investment and entrepreneurial visa options are also available. Each category has it own unique entry requirements.

The Express Entry programme depends on factors such as nationality, age, language ability, family members, education, work experience and details on any job offer. Once the above details have been submitted to the Express Entry pool, a calculation of a Comprehensive Ranking System (CRS) score will be issued based on the answers provided. If you meet the requirements, you will be invited to apply to be a permanent resident of Canada.

To determine your eligibility to emigrate to Canada and which programme will be best suited to your skills and personal criteria it is advisable to consult an immigration specialist.

Xpatweb has been the preferred visa service provider for many corporates and individuals considering Canada as an emigration option.

Greece Golden Visa-An Open Door To The EU For South Africans

Greece Golden Visa: An Open Door To The Eu For South Africans

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Greece, a land that is loved for its pristine beauty with her beautiful islands and breath-taking blue flag beaches is enough to make anyone want to jump on a plane and head to paradise.

The country also has incredible historical buildings, including the 5th-century B.C. Acropolis Citadel and the Parthenon Temple. And while Greek remains the official language of this ancient civilisation, many other languages such as English, German, French and Italian are spoken by the younger generations.

Many businesses are still producing, selling, and earning profits in the country, despite the torrid financial situation the country has weathered in recent years.  The economy is now projected to grow by 4.1% in 2021.

Major investments by foreign companies, such as Microsoft and Amazon are in the pipeline and credit ratings agency, Moody’s, upgraded Greece’s rating in November 2020. There is a new sense of national confidence after 10 years of painful EU-imposed austerity and reforms.

Greece’s effort to enhance economic growth prompted the government to introduce a new residence programme called the Greece Golden Visa. This visa programme has been named the most popular residence-by-investment program for three consecutive years (2018, 2019 and 2020) having surpassed the US E.B.5 in terms of its approved applications.

Potential applicants can choose from several investment options available to non-EU-nationals, which grant applicants the ‘’golden ticket’’ into the EU and visa-free access to Schengen.  A major benefit of the Golden Visa is that investors are not required to  immediately relocate to Greece upon making an investment which makes it the ideal opportunity for South Africans who simply want to keep their options open regarding future relocation.

Some of the key advantages of Greek residency are:

  • Visa-free travel within the 26 EU Schengen countries.
  • Offers Visa on arrival for 186 countries.
  • No requirement to reside in Greece.
  • Residence permits can be acquired within 30–60 days.
  • Unlimited expiry date of residence permit.
  • Opportunity to rent out the investment property.
  • Residence applicable to the whole family (married spouse, children under 21 years old, and parents of the main applicant and spouse).
  • Leads to Citizenship after 7-years of residence.
  • Ability to hold shares and receive income from the dividends of a company registered in Greece.
  • Free access to public health and education facilities
  • Great Investment opportunities (prices dropped more than 50% since 2010);
  • The most affordable program in Europe.

What are the criteria to obtain the Greek Golden Visa?

  1. You must be over 18 years of age;
  2. You must have a clear criminal record; *No need to submit official non-criminal record.
  3. You must make an investment under the following options:
  • Purchase a real estate property worth at least €250,000.
  • Sign a lease agreement with a hotel or tourist establishment for at least 10 years.
  • Make a capital investment of at least €400,000 in a company registered in Greece.
  • Make a €400,000 investment in Greek government bonds.
  • Make a €400,000 investment in bonds or shares of real estate investment companies.
  • Make a €400,000 deposit in a Greek bank for at least 1 year.
  • Make an €800,000 investment in corporate or government bonds.
  1. Real Estate documents:
  • A contract of purchase which attests to the fact that there are no conditions or exemptions in the purchase, states the total price of the purchase, and the method of payment (it must be in full, via credit held in an institution operating in Greece or via a credit transfer.
  • Proof of transfer of the contract by the accountable land registry
  • Certificate issued by the land registry proving there has been no impediment related to the purchase.
  1. Renting hotel or tourism establishment:
  • Timeshare contract for a minimum period of five years
  • Proof of transfer registration issued by the competent Land Registry.
  • A certificate issued by the National Tourism Organisation (EOT)
  • been informed of the conclusion of the timeshare contract.
  1. Investing in a company:
  • Documents with details of the company receiving the investment, whether it is established or to be established (must include name, type of legal entity, and shareholders)
  • A document detailing the investment project.
  • The location of the investment project
  • The budget and financing structure for the investment
  • A timeline detailing the implementation of the investment.
  • Predictions for the results on the first five years of investment (feasibility study and cash flow forecast)
  • A document detailing the number of jobs that will be created by the investment.

It takes up to 60 days to process a Golden Visa application, so it’s advisable to seek professional assistance to ensure that all the correct documents have been collated and submitted to ensure that the application process is expedited.