Retiring in Mauritius may be your best choice of residence if you are aged 50 or above. A Retired Non-Citizen is defined as a person who is not a citizen of Mauritius and aged 50 years or above.
A Retired Non-Citizen can apply for an initial ten-year Residency Permit. The requirements are to make an initial transfer of at least USD1,500, or its equivalent in freely convertible foreign currency, at the time of issuance of the permit to his/her local bank account in Mauritius.
A Retired Non-Citizen Residence Permit holder is then required to transfer at least USD1,500 per month or at least USD18,000 per year on aggregate during the ten-year validity of the Residence Permit. At the end of each year, the holder must submit evidence of the transfer of funds into his/her local bank account to the Economic Development Board.
A Retired Non-Citizen Residence Permit holder may invest in any business. However, they should not be employed in that business, nor manage it in any way, and must also not derive any salary from that business.
Retired Non-Citizen Residence Permit holders can apply for a renewal, subject to the continuing transfer of USD1,500 per month or the aggregate of USD18,000 per year during the 10-year validity. They are also eligible to apply for a 20-year Permanent Residence Permit provided they have held the residency for at least three years and have transferred at least USD,54,000, or its equivalent in freely convertible foreign currency, during the three years preceding the application.
Should you require any assistance in applying for your Premium Visa or any of the permits above, please don’t hesitate to contact us.