Senior Habitat: Retiring in Mauritius
When retirement comes, many want to leave France to live in a new environment. Beyond a simple vacation, retirees plan to settle more permanently in the tropics. For some years now, Mauritius has become the most popular destination for retired French people. And this is not surprising. One just needs to see this heavenly place to be convinced. Offering numerous appealing advantages, it is a place that provides a whole new lifestyle. Whether it is for fiscal or health reasons, or any other aspect of life, the attraction for Mauritius is justified.
An advantageous tax system
Through its policy, the Mauritian government has made a point of attracting foreign investment. That’s why it has put in place a favorable and conducive environment for these foreign investments by reducing or eliminating certain taxes. In this tax system, residents, that is to say those who stay on the island for at least 180 cumulative days a year, benefit from a much lower tax rate than in France. Personal and corporate income tax are set at a flat rate of 15% and there are no dividend taxes. But what really makes it worth the while is the absence of taxation on wealth and the absence of inheritance tax. Compared to France, retirees can enjoy an excellent standard of living in Mauritius.
Moreover, it is easy to receive French retirement pensions in Mauritius.
Pleasant living conditions
If spending a few days under the sun in a magnificent setting has been a wonderful experience for you, then imagine if you were to live in this place all or part of the year. The tropical climate, the white sand beaches, the turquoise sea…. so many reasons to come and settle in Mauritius. The island has an excellent telecommunication network, good restaurants and supermarkets. There are also many opportunities to practice a wide variety of sports and enjoy leisure activities.
Particularly attractive, the value of the Euro to the local currency allows French immigrants to have an excellent purchasing power. Everything is cheaper, whether it is food or lodging. One can rent a nice apartment or even a house at a very reasonable price.
Since 2002, foreigners can become owners of real estate in Mauritius through different schemes. With an investment of at least $ 500,000 in one of these real estate programs, you will be granted a Permanent Residence Permit for you, your spouse and children until they reach the age of 24. The acquisition of an apartment in a Ground + 2 residence of a minimum of 6 million Mauritian rupees (€ 150,000) is also possible but will only grant you the right to stay on the island 6 months a year.
A strong economic potential
Since its independence in 1968, Mauritius has displayed remarkable political stability, which is an attractive criterion. This is one of the reasons of its fast development. It has sustained a successful, continuous economic development and is one of Africa’s emerging economies. At the heart of this development are strong local sectors as well as foreign investments. The island is experiencing strong industrialization with the arrival of major industrial groups and information technologies. The hotel and textile sectors are well developed, and the real estate market is booming and growing at a rate of about 3.5% per year.
A good health offer
Accompanying its economic development came the modernization of infrastructures and facilities, especially in the health sector. There are now two general private clinics and one dental clinic on the island. It is also home to many experienced local and expatriate doctors. The proximity to Reunion Island (French department) allows a quick evacuation for critical health care. Reunion Island has a similar level of healthcare than France. For their healthcare in Mauritius, French nationals are covered in Mauritius if their French health insurances include overseas covers.
Mauritius has the most diversified cultural mix of the Indian Ocean. Multi-ethnic, it brings together a number of exotic cultures and traditions that seduce and attract many foreigners. This is reflected in particular by the diversity of the Mauritian cuisine.