Insights
Weighing Up Retirement Destinations?
Five reasons to consider Mauritius
With its blend of tropical charm and economic stability, Mauritius has become a sought-after retirement destination. But what makes this land of opportunity so appealing for retirees? Udaye Bheergoonath sets out five compelling reasons.
1. Tailored Long-Term Residency Options
One of the main attractions of retiring to Mauritius is the ten-year Residence Permit designed for those aged 50 and above. Proving a minimum monthly income of USD1500 can secure a place on the island. And after three consecutive years of residency, you may apply for a 20-year Permanent Residence Permit, ensuring long-term security. Importantly, retirees may also invest in any businesses, provided they do not engage in employment or receive a salary, creating opportunities for asset growth without operational involvement.
2. Living in a Premium Environment
Mauritius is not just about sun-kissed beaches and turquoise waters, also offering access to world-class amenities and a high standard of living. With eight months of warm weather, Mauritius provides a relaxed, outdoor-orientated lifestyle. Moreover, the government continues to make significant improvements to infrastructure including in healthcare.
3. Flexible Property Acquisition with Senior Living Developments
Mauritius has created an innovative solution through – among others – the Property Development Scheme (PDS), especially tailored for those aged 50 and above. These developments are designed with independent living in mind, offering access to social hubs such as clubhouses and fitness centres, as well as essential services that cater to retirees. On acquisition of residential property for a price exceeding USD 375,000, a non-citizen is granted a residence permit for so long as he/she holds the residential property. The spouse and children below the age of 24 are also granted a residence permit.by investing in these properties, creating a flexible path to permanent residency.
4. Premium Visa for Strategic Flexibility
Unsure about making a long-term transition? The Premium Visa offers a perfect middle ground. This visa allows non-citizens to reside in Mauritius for up to one year while maintaining their primary
business activities and income streams outside of the local economy. This is a good, flexible option for those who wish to work remotely or test the retirement lifestyle on the island without fully committing to relocation.
5. Investment Opportunities in a Growing Economy
Mauritius has a thriving real estate market, providing opportunities to invest in property development schemes or leverage its status as a burgeoning financial hub. The freely convertible foreign currency and banking infrastructure, favourable tax structures and commitment to economic stability, make Mauritius a strong foundation for managing and growing wealth.
From our Mauritius office, Stonehage Fleming offers clients comprehensive support across real estate, expert fiduciary and family office services.
Disclaimer:
The material contained in this document is for information only and does not to constitute legal, investments or tax advice and it should not be relied on as such to enter into a transaction or for any investment decision. All Investments may have risks regarding liquidity, the repatriation of funds, political and macroeconomic situations, foreign exchange, tax, settlement, and the availability of market information.
It has been approved for issue by Stonehage Fleming (Mauritius) Limited a company licensed by the Financial Services Commission, Mauritius. Company no. 24306/C1/GBL. BRN:C07024306