Safety and security, health, and wellbeing remain top priorities for those looking for a better-quality lifestyle. This makes Mauritius immensely attractive to retirees.
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What do retirees want?
Blue-rinse brigade? Definitely not. Today, you can’t define retirees by their age. They are simply people who have chosen to stop working and have “completely different expectations of what later life might bring”.
The island has successfully managed the Covid-19 pandemic by adopting adequate sanitary measures. So, Mauritius holds even greater appeal as a retirement destination for noncitizens.
Can retirees get a residence permit?
Today, noncitizen retirees who are at least 50 years young can obtain a residence permit for 10 years. This rule came into effect in September 2020. One of the qualification criteria is a monthly sustenance transfer of just USD 1,500 for the duration of the permit. Another plus is that their spouse, children aged 24 years or younger, and parents can accompany them.
The wealthiest country in Africa
Mauritius is the wealthiest country in Africa in terms of average wealth per person (wealth per capita). Notably, the World Bank classified Mauritius as a high-income country in July 2020.
“In the next 10 years, total private wealth held in Africa is expected to rise by 30%. It could reach USD 2,6 trillion by 2030. This will be driven by strong growth in the billionaire and centi-millionaires segments, especially in fast-growing economies such as Ethiopia, Mauritius, Rwanda, Kenya, and Uganda,” says Andrew Amoils, wealth analyst at New World Wealth.
Commenting after the recent release of the annual Africa Wealth Report, Amoils says: “Knowing where affluent individuals live, understanding their spending habits, and being aware of their preferences is critically important for providers of wealth management and luxury services in Africa and globally.”
Why should retirees invest in property in Mauritius?
“It’s not just that it is a tropical island and, like many tropical islands, is lush green, has colourful vegetation throughout the year, has the perfect climate, and allows visitors to have perfect holidays year-round,” says Sachin Mohabeer, director of real estate and hospitality at the Economic Development Board (EDB) Mauritius. In addition, Mauritius is safe. Visitors are welcome anytime the borders are open and they can be sure of a comfortable stay in a luxury villa or apartment.
Other drawcards for retirees are the island’s very good healthcare system and safe, stable and predictable environment. Mauritius boasts a future-ready infrastructure, global connectivity, good telecommunication, and world-class talent.
Where should retirees buy their forever home in Mauritius?
There are multiple accommodation options available to retired noncitizens. The latest is Les Residences de Mont Choisy, an exclusive boutique development for active seniors in the north. It presents a wonderful peer environment, healthcare, and a range of facilities for recreation and social occasions.
Les Residences de Mont Choisy is a Real Estate Scheme by 2Futures, the top luxury property developer in the area. They have a proven track record of building and developing homes to the proposed standard and timeline. There are two- and three-bedroom apartments, which are move-in ready. Additionally, they come with a 10-year building construction guarantee as well as a two-year interior warranty.
Also, residents get the benefit of onsite restaurants and a bar as well as access to a hair salon, spa, interior and exterior pools, a 24/7 concierge, and rental management service. The 485ha development is near the golf course, shopping malls, and schools.
Advantages for retirees
Retirees have access to state-of-the-art healthcare facilities in Mauritius. They are also invited to invest in a business on the island as long as they don’t hold an executive position or earn a salary.
The EDB interviewed the Frenchman, Joel Raoult, about his decision to retire in Mauritius. He chose Mauritius as his retirement destination as the country is peaceful, has a warm climate, friendly people, beaches, beautiful hotels, and golf courses. Equally important, it offers financial opportunities, a good healthcare system, and reputable French schools. “I have travelled to several countries and lived in metro cities including Singapore, Hong Kong, London, Sydney, and Noumea. Also, I am very familiar with the Caribbean and Southeast Asia. Mauritius is by far the best choice. I settled here with my wife and my 15-year-old child in August 2016. I am very happy that I was granted the right to stay here until 2029.”