Retirement in Mauritius is a dream for many retirees seeking an exceptional quality of life in an enchanting tropical setting. Located in the Indian Ocean, this island paradise is renowned for its pristine beaches, year-round mild climate and attractive tax benefits.
This comprehensive guide will help you understand why Mauritius is a prime retirement destination, the steps in obtaining a retiree visa, and the real estate investment options available to those planning to live here permanently.
Why choose Mauritius for your retirement?
Mauritius is much more than just a vacation destination. Here are just a few reasons why it's ideal for retirees:
Enchanting climate and scenery: Mauritius enjoys a pleasant tropical climate all year round, with sunshine almost daily. White sandy beaches, crystal-clear waters and mountainous landscapes offer a peaceful, relaxing environment, perfect for a retirement in the sun.
Political and social stability: Mauritius is renowned for its political and social stability. National elections are free and fair every five years, and civil unrest or violence is rare, making it a safe destination for retirees.
Quality healthcare infrastructure: The healthcare sector in Mauritius is well developed, with a combination of public and private hospitals, totalling 5 major public hospitals and 21 private clinics. There is also a considerable number of qualified doctors, dentists, pharmacists and nurses, guaranteeing access to world-class healthcare.
Tax advantages: Mauritius offers considerable tax advantages for retirees. There is no tax on wealth, inheritance, dividends or capital gains. What's more, retirees are not taxed on foreign income earned outside Mauritius during the previous five years. The income tax rate is progressive, ranging from 10% to 15%, which is very attractive for expatriates.
How to obtain a retirement visa for Mauritius
To settle in Mauritius as a retiree, you need to meet the following criteria to obtain a retiree visa:
Minimum age: Applicants must be at least 50 years old to be eligible for a retired visa. The good news is that you don't have to wait for the official retirement age in your country.
Transfer of funds: The retiree must prove that he/she has sufficient income to live in Mauritius. You are required to transfer a minimum of USD 1,500 per month, or a total of USD 18,000 per year, to a bank account in Mauritius. This transfer must come from external funds.
Duration and renewal: The Retiree Residence Permit is issued for an initial period of 10 years and is renewable. This offers peace of mind for those wishing to live in Mauritius for the long term.
Required documents: The visa application requires documents such as a copy of the passport, proof of funds, a medical certificate and an extract from the criminal record.
Real estate options in Mauritius for retirees
Investing in real estate in Mauritius is an attractive option for retirees. Working with a real estate agency in Mauritius or an estate agent in Mauritius is essential to navigate the local property market and find the perfect property, whether it's an apartment for sale in Mauritius, a house or a villa. These are the schemes available:
Property Development Scheme (PDS): Allows foreigners, including retirees, to buy luxury villas or apartments in secure complexes. The purchase of a property with a minimum value of 375,000 USD under this scheme entitles the buyer to a permanent residence permit.
G+2 (Ground + 2) scheme: This program enables the purchase of an apartment in Mauritius in a building of two or more storeys, provided the price is at least 375,000 USD. It also enables you to obtain a residence permit.
It is also possible to rent for a short period to validate the area in which you wish to live before embarking on an acquisition. If you don't want to lose too much money with rent payments, you can rent for a medium-term period of around 6 months.
Activities and quality of life for retirees
Mauritius offers a multitude of activities for retirees, whether they enjoy water sports, golf, hiking or cultural discovery. With a rich and varied culinary scene, idyllic beaches and impressive cultural diversity, retirees will never lack for opportunities to enrich and relax.
For golf enthusiasts, I would recommend that you read my blog on golf courses, as Mauritius is an ideal destination for golfers: https://www.sandracolas.com/post/golf-and-real-estate-escape-mauritius-a-paradise-for-swing-lovers?lang=en
Conclusion
Mauritius is the perfect destination for retirees seeking a peaceful, sunny and financially advantageous retirement. Whether you're looking to buy a house in Mauritius, rent an apartment in Mauritius, or enjoy the island's tranquillity, the support of a real estate agent in Mauritius is essential to make this life project a reality. With its tax advantages, political stability and pleasant climate, Mauritius is undoubtedly a top choice for a dream retirement.
If you want to discuss your project with me contact me
Sandra Colas Real Estate
Sandra Colas scolas@sandracolas.com
WhatsApp: +230 5474 0302