Retiring On Mauritius Island

In Mauritius, one of the primary advantages is that it is easy to obtain a permanent resident visa. The latter is based on the amount of your annual investment to develop the country, constituting one of the economic resources that the Mauritian authorities want to attract. In addition to a single tax that preserves your capital, real estate is less expensive compared to other countries with similar economic potential. So you can both live in one of the most beautiful island in the world while growing your capital with your pension.

There are two types of resident status in Mauritius. The first is suitable for retirees who wish to settle here, however the authorities require a transfer of at least 40,000 U.S. dollars or 32,000 Euros each year to a bank or financial institution in Mauritius. The second category is suitable for investors who may be contractors, employees or independent. They get a work visa based on an amount of income defined by the authorities. The best solution is for retirees to reside on the island for a minimum period of three years, after which they can obtain a permanent resident visa. However, the authorities face major condition for the transfer of an amount of 40,000 dollars for each of these three years, to be eligible for permanent residence.

The tax advantages of Mauritius

The Mauritian authorities plan to essentially diversify income sources that affect the economic development of the island. Thus, they introduced a single tax of 15% for the temporary or permanent residents. Therefore, you pay no tax on capital, or the right of succession in applied in European countries. In addition, just six months of living on the island to benefit from this tax. This is also the most used by retirees. If you can not wait three years to get all these advantages, it is also possible to buy a property worth at least 383,000 euros. This amount gives you access to the IRS (Integrated Resort Scheme) and automatically obtain permanent resident status. However, since this solution is for wealthy people in particular, the system RES (Real State Scheme) may also appeal to all those who have a more limited budget. There is no minimum value for any property investment, but that may not sufficient to help you getting the permanent resident status. However, it is a good solution to compare prices of rental homes that are more expensive.

How to take the steps necessary to live his retirement in Mauritius?

You can get your visa upon arrival at the airport because it is issued by the Board of Investment, which controls your income and check the amount of your annual transfers. With your temporary resident status you get immediate tax benefits. Most retirees visits the island twice; the first to visit and explore real estate opportunities and the second to settle there permanently. However, another solution is to hire the services of an intermediary who will be responsible for all administrative tasks for you. But it may not be secure because no one knows if dishonest people could cheat your money without giving anything in return. You can also contact a rental housing that will facilitate your approach and is generally trustworthy. These solutions are suitable for people who still work or do not have time to make the round trip required to the investigation of administrative records. On the other hand, if you are already retired, the best thing to do is to let all these steps be handed over at the airport to avoid unpleasant surprises. Thus, thanks to the ingenious plan available in Mauritius, it is now possible to retire on an island known as an earth paradise; all these with minimal investment.