Due to its reputation for luxury, retirement facilities and quality of life, Mauritius residency is becoming increasingly attractive to foreign retirees. Read more about the advantages of retiring in Mauritius here. To establish Mauritius residency as a retiree, you will need to apply for a Mauritius Retirement Permit. Here at TBI Mauritius, we have years of experience in helping foreign retirees move to Mauritius. We understand the intricacies of moving to a new country as a retiree and we offer full relocation support including guidance regarding health insurance and housing options that cater for senior living.
Mauritius Retirement Permit
The Mauritius Retired Permit is a residence permit that allows retired foreigners to live in Mauritius. The Retirement Permit is issued for a maximum period of ten years and can be renewed thereafter. To be eligible for a Mauritius Retired Permit, you must be at least 50 years old and meet one of the following financial requirements:
- Have a minimum amount of USD 18,000 in a bank account in Mauritius.
- Have a guaranteed minimum income of USD 1,500 per month.
Medical Facilities for Retired permit holders in Mauritius have been improving over the years. Foreigners do not tend to use local hospitals and we recommend that you look at private facilities always. There are numerous medical centres and clinics all over the island. Most foreigners live in the North and the West. The West has relatively limited facilities in comparison to the North and it is a far easier commute to the centre where the biggest hospitals are, from the North than the West.
Holders of the Retired Permit are allowed to invest in any business in Mauritius, provided that they are not employed in the business or deriving any salary or employment benefits from it. Retired foreigners can also buy property in Mauritius for over USD 200,000. They can buy property under the Property Development Scheme, which has projects that specifically cater for senior living. This will automatically give them permanent residency as long as they own the property.
Right to Work
Holders of the Retired Permit are allowed to work remotely from Mauritius. However, they are not allowed to work for any company in Mauritius, unless they have an occupation permit. The good news is that it is easy to switch permits from a retirement permit to an occupation permit that enables you to work.
Frequently Asked Questions
How do I get a retirement visa for Mauritius?
To get a retirement visa for Mauritius, you must be at least 50 years old and have a minimum monthly income of $1,500. Alternatively, you can also show a minimum amount of $18,000 in your bank account.
How much do I need to retire in Mauritius?
The cost of living in Mauritius varies depending on your lifestyle and spending habits. However, you can expect to spend around $2,500-3,000 per month on basic expenses such as housing, food, and transportation. If you want to live a more luxurious lifestyle, you will need to budget accordingly.
Is there a long term visa for Mauritius?
The Mauritius Premium Visa is a long term visa in Mauritius that allows a foreigner to retire in Mauritius and live on the island for up to a year. To qualify for this visa as a retired, you must have a minimum monthly income of $1500.
Where is the best place to retire in Mauritius?
The best place to retire in Mauritius depends on your individual preferences. The North of Mauritius is more developed, with a vibrant nightlife and modern amenities, while the West of Mauritius is quieter and more focused on outdoor activities and nature. Read more on how the North compares with the West here.
Can Retirees Buy Property in mauritius?
As per the most recent budget announcement, individuals looking to retire in Mauritius can purchase property, given that the property’s acquisition cost exceeds USD 200,000 and the retiree is aged 50 or above. The option available for retirees is the Property Development Scheme, which is designed to cater specifically to senior living needs. Through this scheme, retirees can obtain a residence permit in Mauritius, and, provided that the non-citizen maintains ownership of the property, they can also attain permanent residency in the country.
What TBI Business Advisors can do for you:
- Provide expert advice on the Mauritius Retirement Permit. We can explain the requirements for a Retirement Permit and help you determine if you are eligible.
- Assist you with the Retirement Permit application process. We will help you gather all of the required documents and complete your application correctly. We will also represent you in front of the government officials during the application process.
- Provide ongoing support after you receive your Retirement Permit. We can help you relocate to Mauritius and settle into your new home. We can also provide you with advice on Mauritius tax law, business regulations, and other important matters.