Mauritius is rapidly becoming a hub for foreign retirees. To provide for the growing interest, in addition to the existing programs (PDS, RES, etc.), the government is currently developing several projects to transform the "Silver Economy" into a full-fledged growth pole. If you are planning to spend your retirement in Mauritius, here are the essentials.
Why retire in Mauritius?
Mauritius has long built its reputation as a paradise destination, not only because of its idyllic beaches and extraordinary climate but also because it offers an excellent quality of life to locals and expats alike. Here's why:
A favorable tax system
The Mauritian government has clearly stated its objective of attracting foreign investment. To achieve this, it has set up a favourable and conducive environment consisting of tax reductions and deductions. These include a 15% personal and corporate income tax rate and no tax on dividends. For foreign retirees, there is no wealth tax and no inheritance tax. These advantages make it possible to take full advantage of the standard of living that has contributed to the island's reputation.
Advantageous real estate programs
Since 2002, expats have been able to purchase property in Mauritius through various programs. One example is the Property Development Scheme (PDS). As per the 2023–2024 budget, foreign retirees and their families can secure a residence permit in Mauritius by acquiring property within a PDS project specifically designed for the elderly. This opportunity is available on the condition that the property's purchase value exceeds USD 200,000.
A modern healthcare system
Mauritius boasts a high-quality healthcare system that includes 5 public hospitals staffed by highly qualified medical professionals. Additionally, there are 21 private clinics across the island. Notably, the Fortis Darné clinic in Floréal has established an agreement with the Caisse des Français à l'Étranger (CFE). This agreement allows hospitalized French patients to have their medical expenses covered without the necessity of upfront payment.
A unique cultural blend
Culturally, Mauritius is the quintessence of peaceful living. Proud of its multi-ethnic personality, the country is home to the most diverse cultural blend in the Indian Ocean; a personality that is permanently expressed in all aspects of the island, including, of course, its gastronomy: Mauritius is a gourmet's paradise!
Celebrations and leisure activities
The main religious celebrations of each community are marked by national holidays in Mauritius. In addition to these, there are also cultural celebrations. Let's not forget the leisure activities. The island is home to rich fauna and flora, a rich cultural scene, as well as a lot of history.
When are you considered a retired expat in Mauritius?
Mauritius is a popular destination for investors, including those who wish to reside there under the retiree status. For this, the criteria to be respected are the following:
- Not being a Mauritian citizen and being 50 years old or more;
- Having completed medical examinations (hepatitis, AIDS, lung X-ray, etc.) less than 6 months before applying for the permit;
- Making an initial transfer of at least USD 1,500 or its equivalent in a freely convertible foreign currency to your local bank account in Mauritius;
- Thereafter, transfer at least USD 1,500 per month or in installments, or an annual total of at least USD 18,000 or its equivalent in foreign currency during the 10 years of validity of the residence permit;
- At the end of each year, submit to the EDB proof of transfer of funds to their local bank account;
- If all these conditions are met, it is possible to apply for a permanent residence permit for 20 years.
As for tax benefits for foreign retirees in Mauritius, these include:
- No real estate wealth tax;
- No property tax or housing tax;
- No capital gains tax in case of resale of a property;
- No inheritance tax;
- 15% tax on personal income, including rental income.
Other options for retirees in Mauritius
Retired individuals have the option to secure a residence permit in Mauritius through property acquisition, with no specific minimum investment requirement. This is applicable as long as the purchased property is a residential unit within the Property Development Scheme catering to the elderly. However, for properties outside this scheme, a minimum investment of USD 200,000 is necessary.
Furthermore, individuals – whether retirees, professionals, or tourists – seeking an initial experience of life in Mauritius can apply for a premium visa. This visa is valid for a duration ranging from 6 months to 1 year, with the possibility of renewal.
Communities specially developed for retirees in Mauritius
Mauritius aims to become a leading destination for retirees, and to achieve this, the government has established a new housing program with specific standards under the existing Property Development Scheme. This senior living program allows retirees to purchase a residential unit or the life rights to a residential unit in an approved project.
There is no minimum purchase price, and the non-citizen may choose to apply for a residence permit in their name and in the name of their spouse or common-law partner until the property is no longer owned or occupied by the purchaser.
These retirement communities must contain at least 25 residential units specifically designed for seniors. They must provide personal and home care services, which may include nursing, daily meal delivery, on-site supervision, emergency health services, and recreational facilities.
Residences under construction offer, among other features:
- Several types of accommodation (studios, penthouses, villas) with balcony, terrace, or private garden;
- À la carte services (hairdressing, laundry, cleaning, etc.);
- Catering service;
- Leisure activities (gym, bar, swimming pool, etc.);
- Maintenance of cognitive abilities;
- Convalescent care;
- Relay for family caregivers;
- 24/7 security, etc.
List of upcoming communities:
Luxury Retirement Village Ltd
Project: 200 residential units, a 54-room frail care unit, a clubhouse, and other amenities.
Contact person: Mr. Nundun Gopee
Address: Luxury Retirement Village Ltd. - NG Tower, Cybercity - Ébene
Email: nitin@royalgreen.mu
Phone: (230) 4547374
BG Oasis Ltd
Project of 68 residential units and related facilities
Contact person: Mr. Bhimajee Govinda
Address: BG Oasis Ltd., Puspass Avenue, Palma Road, Quatre Bornes
Email: bgconstltd@gmail.com
Phone: (230) 57271090
Silver Sail Ltd
Project of 63 residential units and related developments
Contact person: Mr. Bhimajee Govinda
Address: Silver Sail Ltd., 2nd Floor, Goliva Court, St Jean Road, Quatre Bornes
Email: bgconsultltd@gmail.com
Phone: (230) 542 2059
Resience De Caen Ltd
Project of 77 residential apartments, 22 care units for frail persons, and related facilities
Contact person: Mr. De Chasteigner Du Mee Pierre Arthur
Address: Residence de Caen Ltee C/O ASSOCIATED BROKERS LTD, 3rd floor, Travel House Sir William Newton Street, Port-Louis
Email: Pcm1953@intnet.mu
Phone: (230) 52501208
Eligibility and facilities
Any foreigner aged 50 years or older can acquire a residential unit and live in it without any form of additional rent, provided that he/she buys the property on the basis of a plan, during construction, or when the construction is completed. Additionally, the law stipulates that the investor is entitled to a de facto residence permit for himself and his spouse until he no longer occupies the property.
Tax incentives for foreign retirees in Mauritius
The investor with a residence permit is entitled to a 5-year tax holiday on pension and other income earned in Mauritius by him and his spouse. As a permanent resident, he/she becomes eligible for standard duty and VAT exemption on the importation of household and personal effects, especially on his/her real estate.
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