Looking to retire in Mauritius ?
So , you ’ ve fallen in love with the beaches . You can ’ t imagine going back to uninspiring takeaways back home after a taste of fresh Mauritian seafood . And the island ’ s weather has sent you weak in the knees . If you ’ re cooking up a plan to retire in Mauritius , here ’ s some food for thought .
Perks of living in Mauritius
This humble little island in the Indian Ocean is naturally blessed with flawless beaches , sparkling crystalline waters , and an exotic array of flora and fauna . The people are as warm as the country ’ s tropical climate , dishing out delicious coastal cuisine and vibrant cocktails . Given its geographical location and natural beauty , it ’ s got a bustling expat community from all over the globe .
It ’ s not just sunshine and BBQ parties , though . Mauritius also boasts a stable political system , active business environment , modern infrastructure , and a host of up-to-date medical services . The country is rich with opportunities , tailored to encourage property buyers and foreign investors . The real estate market is on the rise , and features a collection of stunningly beautiful projects . You can find a variety of properties suitable for a wide range of budgets - from stylish studio apartments to elaborate villas flaunting glamorous pools and verdant gardens .
Relocating to Mauritius
Non-citizens can move to the country either under a residence permit or permanent residence permit . One way of acquiring a residence visa is by investing in property . In order to relocate to Mauritius as a retiree , you must be 50 + years and be able to transfer a minimum of 18,000 USD annually to your local Mauritius bank account . In three years , you should have transferred a total amount of USD 54,000 to your bank account . If you have invested USD 375,000 or above in a property , you are eligible to apply for a residence permit upon signing the deed of sale .
A holder of an Occupation or Residence Permit is eligible to apply for a 20-year Residence Permit provided the following specific conditions are met :
1 . Investor : Holds an OP for at least 3 years with : a minimum annual gross income of at least MUR 15M ; or an aggregate turnover MUR 45M , for any consecutive period of 3 years .
2 . Professional : Holds an OP for at least 3 years with a basic monthly salary of at least MUR 150,000 for 3 consecutive years .
3 . Self-Employed : Holds an OP for at least 3 years with an annual business income of at least MUR 3 million for the 3 consecutive years .
4 . Retired Non-Citizen : Holds an RP for at least 3 years with transfer of at least USD 54,000 or its equivalent in freely convertible foreign currency for the period of 3 years .
Qualifying activities : Agro-based industry , Audio-visual , Cinema and Communication , Banking , Construction , Education , Environment-friendly and green energy products , Financial Services , Fisheries and Marine Resources , Freeport , Information Technology , Infrastructure , Insurance , Leisure , Manufacturing , Marina development , Tourism and Warehousing , Initial Public Offerings .
Existing OP / RP holders eligibility for PRP A non-citizen holding OP / RP for at least 3 years and whose OP / RP is valid on 1 September 2020 is eligible for a 20-year PRP . The eligibility conditions will be that of OP / RP criteria for renewal .