For many years, Retirement in Mauritius has been appealing to many. It offers the relaxing lifestyle you seek, the beautiful beaches and translucent waters you desire, and views of mountainous ranges as far as the eye can see – it also offers an array of advantages to support the quality of life best you seek.
Mauritius offers a tax system that backs you up.
The Mauritian government has made a point of attracting foreign investment by placing a favorable and conducive environment for these foreign investments. This is done by reducing or eliminating certain taxes. In this tax system, residents benefit from a lower tax rate. Personal and corporate income taxes are set at 15%, and there are no dividend taxes. But what makes it worth the while for a retiree is the absence of taxation on wealth and the absence of inheritance tax. Retirees can enjoy a magnificent standard of living in Mauritius. Moreover, it is easy to receive French retirement pensions in Mauritius.
Undeniably, it will present you with fantastic living conditions
Since 2002, different schemes have allowed foreigners to become real estate owners in Mauritius.
With an investment of at least $ 370,000 in one of these real estate programs, you will be granted a Permanent Residence Permit. This will be for you, your spouse, and your children until they reach 24.
The acquisition of an apartment in a Ground + 2 residence of a minimum of 6 million Mauritian rupees (€ 150,000) is also possible. This will only grant you the right to stay on the island for six months a year.
What about Health for those who are interested in Retirement in Mauritius?
Accompanying its economic development came the modernization of infrastructures in the health sector. It is also home to many experienced local and expatriate doctors. The proximity to Reunion Island (French department) allows a quick evacuation for critical health care. Reunion Island has a similar level of healthcare to that of France. It is essential, however, for expatriates to ensure they have sufficient health coverage, as the private health sector can be pricey.
Retirement in Mauritius exposes you to a cultural kaleidoscope
Mauritius has the most diversified cultural mix in the Indian Ocean. Multi-ethnic bring together several exotic cultures and traditions that attract many foreigners.
Mauritius is known as the “Melting Pot.” This is reflected in particular by the diversity of Mauritian cuisine as well.
The island of Mauritius “Comes to life” in many ways through the local and diverse festivals that are celebrated.
The island has excellent restaurants and supermarkets. There is also a wide variety of sports and leisure activities to keep you busy. In addition, Mauritius’s climate and quality of life are like no other.
A health system aligned with European standards
- Five public hospitals and 40 private clinics across the island.
- A highly regulated medical system with premium service.
- More than 8,500 qualified health personnel are at your service.
- High-tech equipment and modern hospitals.
- Extensive medical tourism.
- Private health insurance protection.
- Access to the Caisse des Français à l’Etranger (CFE).
Residence Permit for Retirement in Mauritius
Foreign retirees can come to Mauritius, spend more than three months per year, and obtain a Retired Non-Citizen status. This is valid for three years.
To get the Residence Permit as Retired Non-Citizen, applicants must meet the following criteria:
- Be 50 years old and above.
- Show evidence of the initial transfer of USD 2,500 into the local bank account when applying for the Residence Permit.
- Effectuate a transfer of at least USD 120,000 over three years into the local bank account
- Not allowed to receive a salary from a Mauritian company or work in Mauritius.
- Do not repatriate the funds to the country of origin (unless the Retired Non-Citizen Permit has been canceled)
- Submit proof of transfer of at least USD 40,000 into the Mauritian bank account to the Board of Investment (BOI) at the end of each year
- Have a Mauritian bank account
- Transfer at least USD 2,500 or its equivalent in freely convertible foreign currency to a bank account in Mauritius – this amount must be credited to the bill before submitting an application to the Board of Investment. The bank account must contain at least USD 40,000 per year over the course of three years.
Right to Invest by Retired Non-Citizen
A holder of a Residence Permit as a Retired Non-Citizen may invest in any business provided they are not employed in that business or manage it in any way. They must also not earn a salary from that business.
For more information, call us at +230 263 6301