Mauritius; A hub for estate planning and retirement
Mauritius is blessed with lush greeneries, white beaches, warm weather, and a breath-taking coastal line with a population of 1.3 million.
Whether you are strolling along the beaches or walking the busy streets of the capital, Port louis, you will always find the locals with a wide smile on their faces. You will find our flag proudly fluttering in the sky along with the warm breeze.
The history of Mauritius has been narrated a thousand of times; how the Dutch, the French and the British came to conquer the star and key of the Indian ocean, thus representing the diversity of cultures that exist today in Mauritius.
With the kindness and compassion of one and other, Mauritians have built Mauritius on a strong foundation of unity, peace, it is of no surprise that Mauritius was ranked 1st in Sub-Saharan Africa and 28th globally on the Global Peace Index 2022.
Other than the Global Peace Index 2022, Mauritius has climbed the ladder of ease of doing business index, in 2020 Mauritius ranked 13th among 190 countries in the aforementioned index. With the presence of 19 banks over the island, Mauritius is a pioneer in the Indian ocean connecting Africa, Europe, and Asia.
Walking around the major big cities, you will notice many international brands domiciled in Mauritius. Corporate service providers offering a combination of services such as trustees services, legal, tax, concierge, and governance related activities as well as others that can tailor made to meet the needs of a family.
As a matter of fact, Mauritius remain a competitive and trusted jurisdiction for investment and wealth planning. There is no capital gains, estate duty nor withholding tax, also offshore trusts are exempted from forced heirship limitations, letting an owner to leave his/her money to people of his choice. Ultimately, the forced heirship rules of other countries will not be furthered by the courts in Mauritius.
Along with the wealth management opportunities International Financial Centre offer, the Government of Mauritius has also put in a place a retirement scheme whereby a foreign retiree non-citizen can reside in Mauritius with their dependents can reside in Mauritius for a period of 10 years and is renewable.
Further, you can also acquire an immovable property in Mauritius (apartment, duplex, or villa) in an approved scheme and reside on the island as long as you hold the property. The residence permit is also valid for your dependents.
The minimum purchase price is USD 375,000 with the exception of acquiring in a real estate development intended for retirees, referred to as ‘PDS for Senior Living’.
All in all, Mauritius is land of opportunities where dreams are knitted to become a reality. See you soon in Mauritius!
By Rukshar Mutty
