Residency

In order to be eligible for retirement in Mauritius, a non-citizen must transfer a minimum of $40,000 per year into their local bank account in Mauritius, or an equivalent sum in any convertible foreign currency.

A person can retire in Mauritius, irrespective of age and nationality, for a period of 3 years, after which the government will grant the retired person a 10 year residency permit providing the successful completion of the first 3 years.

In past years, the only way to purchase property was using the Integrated Resort Scheme where a retired person could purchase property on the island. This has changed and there are more affordable properties on offer. In order to purchase property in Mauritius, non-Mauritian citizens are required to seek authority from the Prime Minister's office.

A retired non-citizen is not granted a Work Permit for work within Mauritius.

Michael

That sounds good .

Well - yes it says you will have to transfer it to your local account and this will be checked ( I guess ). Nevertheless you will spent money when you are on the island and the main issue is, that Mauritian authorities want to attract retired persons with sufficient income to spent their money here instead of elsewhere.

I will sent you a PM as well

Regards

Michael

ExGerman wrote:

A person can retire in Mauritius, irrespective of age and nationality, for a period of 3 years, after which the government will grant the retired person a 10 year residency permit providing the successful completion of the first 3 years.

Slight correction here... it is not irrespective of age. New rules require that an applicant be at least 50 years old.

The other plan for purchase of residential property is the Real-Estate Scheme. You will be able to purchase a property of less than USD500,000 (the minimum of IRS) if that property has an RES certificate.  As opposed to IRS where permanent residence is granted on ownership of the property, RES only gives such status if they are worth USD500,000... otherwise they are still free for acquisition by foreigners for less than USD500,000 (with no residency permit attached).

In your case, you apply for a Retired Non-Citizens residency and then purchase an RES of less than USD500,000.  or go straight to RES or IRS of USD500,000+ and get a Permanent Residence.

I'm. 52 in feb so all I need for residency is 25 thousand in my bank account

I have a retirement visa, you need to bring in US$40 000 every year, they need to see your bank statements every year as proof of this... so $120 000 over three years.... if you choose to stay longer you STILL have to bring in this amount every year... even though you are issued a 10 residents permit.... you are not allowed to transfer any of the US$40 000 you bring in out of Mauritius again. Obviously you are NOT allowed to work.

Good Luck

Annie

Ann, may I ask, do you have any difficulty regarding a 180 day stay? Specifically, do you automatically get 90 days to start at the airport, then have to apply for an extension later?
I'm not interested in jumping through hoops in order to live someplace year round so I'll keep moving but six months is much better than three. I'm retired also and finally have time to relax and enjoy living, anywhere.
  FYI Mauritius is 9 hours ahead of my time.  Thanks, Tim