Retire in Mauritius
Why retire in Mauritius
Mauritius is a vibrant tropical island nestled in the Indian ocean along with sunshine throughout the year, with a peaceful and enchanting environment and mostly known for its warm crystalline waters which are perfect playing ground for water sports connoisseurs.
There is more to Mauritius than its scenic landscapes, the natural beauty of Mauritius are idyllic unspoiled beaches, untouched flora, and rugged mountains.
Mauritius is located around 1,200 miles off the southeast of the African coast and is 2,040 square kilometres in size. The island is home to 1.3 million inhabitants with diverse origins and heritage, there is a wide variety of cuisine which will leave the wanderlust hodophile spellbound.
Political and Social Stability
Civil unrest and violence are uncommon. Free and fair national elections are held every five years.
Our Healthcare Sector
A wide choice of medical and emergency health facilities including public and private hospitals.
Major Public Hospitals
Major Public Hospitals
In Mauritius, there is no tax on wealth, inheritance, dividends, and capital gains; progressive tax from 10 – 15 %.
Income derived by a retired person or his spouse or common law partner outside of Mauritius for the past 5 years is exempted from income tax.
How to retire in Mauritius
10- year residence permit
With a monthly expenditure of only USD 1500 or an aggregate of USD 18,000 per year in Mauritius, you and your dependents are entitled to a residence permit to live on the island renewable.
Residency by acquisition
You may acquire a unit ( house, villa or apartment) in a property development scheme for senior living where there is a no minimum price for granting a residence permit. Also you may acquire a luxurious unit ( house, villa or apartment in the conventional Property Dvelopment Scheme or one of the smart cities where a minimum price of USD 375,000 is required for the granting of the residence permit.
Citizens from over 110 countries can submit their applications online. The premium visa allows a non – citizen to stay in Mauritius for a period exceeding six months up to one year with an option to renew.
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Foreign income means income derived from outside Mauritius. It shall include emoluments, directors’ fees, annuity, and pension in respect of past services, business income, rental income, investment income and interest income. The foreign income is taxable in the hand of the resident.
When a person stays a period of 183 days or more: or for an aggregate period of 270 days or more in the 2 preceding income years.
This will depend on the pension provisions of Double Taxation Avoidance Agreements, and whether income is remitted to Mauritius.
A non-citizen retiree (holding a residence permit/retiree permit/premium visa) is allowed to open a bank account in Mauritius, whether it is a savings account or current account.
Yes, you have to be physically present in Mauritius to open a bank account, however an application can be made remotely provided that the introduction is done through a management company in Mauritius approved by the Financial Services Commission (FSC).
- original and copy of valid passport (in colour)
- original and copy of proof of residence in their home country (in colour)
- bank reference from the country of origin indicating that the account is well managed and does not have any anomalies.
- CV with professional status.
It takes approximately 2 working days to open a bank account in Mauritius
You can open a bank account in any foreign currency such as ZAR, EUR or USD.
Rich in history and ancestral linage, the Mauritius Banking Sector has been at the service of the economy since 1838. Mauritius is in fact eulogized as having the oldest banking institution of the south of the Sahara, and one of the oldest banks of the Commonwealth. Today, the banking industry is made up of local and international bank for aering a wide array of services, from traditional retail banking facilities to specialized services such as fund administration, private banking, structured trade finance, Islamic banking, investment banking and custody services. All the banks are licensed by the Bank of Mauritius to carry out banking business locally and internationally.
Here is a list of banks in Mauritius:
- ABC Banking Corporation Ltd
- ABSA Group Ltd (Barclays Bank) Ltd
- AfrAsia Bank Limited
- Bank of Baroda
- Bank of China
- Bank One Mauritius
- BCP Bank
- Habib Bank Limited
- HSBC Bank (Mauritius) Limited
- Investec Bank
- MauBank Ltd
- Mauritius Commercial Bank Group
- SBI (Mauritius) Ltd
- SilverBank Limited
- Standard Bank (Mauritius) Limited
- Standard Chartered Bank (Mauritius) Limited
- State Bank (Mauritius) Limited
- The Hongkong and Shanghai Banking Corporation Limited
- Warwyck Private Bank Ltd
Yes, Mauritius healthcare system is both public and private.
Healthcare is free in public hospitals, whereas in private clinics and practices, there is a fee to be paid.
As a foreign citizen, there is a fee to be paid to receive medical treatment in public hospitals.
The country’s public health infrastructure comprises 5 major public hospitals offering general services, 6 public hospitals each specialised in Mental health care, Cardiology, Orthopedics, ENT, Eye care and Chest as well as also various area health centers and mediclinics, proximate to communities across different regions.
The health workforce is the pillar of the healthcare system with the vast majority of medical practitioners having undergone their training programmes in reputable European and foreign medical universities. Medical institutions in Mauritius also employ foreign medical practitioners across a range of specialties. Moreover, the medical profession is regulated by the Medical Council of Mauritius which ensures that healthcare practices commensurate with highest international quality and standards.
Mauritius prides itself in the quality of its education system and the standard of its academic institutions. Whether one decides to offer one’s child an education modelled after the British or the French education system, the options for schooling across the different educational cycles are numerous.
Please click on the link below to find more information about the international schools in Mauritius:
Personal Household Items
Yes, you can import household items to Mauritius within 6 months after your arrival.
Yes, you can bring your pets to Mauritius provided that the quarantine period is respected which is a minimum of five working days or to a period of one month.
Date and time of arrival and flight number should be communicated to the Ministry of Agro-Industry & Food Security, Division of Veterinary Services at least three days prior to your arrival.
Mauritius is positioned in a favourable time zone between Europe, Asia, and Australia with many direct flight connections to the four continents.
To find out more about flight connectivity, please click on the link below:
Applying for an Occupation Permit or a Residence Permit by Retirees on the National E-Licensing System (NELS) is free of charge. In addition, the Economic Development Board does not charge any fees for processing of applications for these permits. Only successful applicants are required to pay the statutory permit fees, as prescribed by law, to the Government of Mauritius.