Frequently Asked Questions About  Investing In Mauritius (FAQ)

Taxation

Would any money remitted by retirees to Mauritius be taxable?

Foreign income (income derived outside Mauritius) is taxable and includes emoluments, directors’ fees, annuities, pensions, business income, rental income, investment income, and interest income.

When does a person become a tax resident in Mauritius?

A person becomes a tax resident if they stay in Mauritius for 183 days or more in a tax year or for an aggregate of 270 days or more in the two preceding years.

Is a person’s pension payment remitted to Mauritius taxable?

It will depend on the pension provisions under Double Taxation Avoidance Agreements and whether the income is remitted to Mauritius.

Banks

Is it possible to open a bank account in Mauritius as a non-citizen?

A non-citizen retiree with a residence permit, retiree permit, or premium visa can open a savings or current account in Mauritius.

Should I be physically present to open a bank account in Mauritius?

Yes, you need to be physically present to open a bank account. However, remote applications are possible through a management company approved by the Financial Services Commission (FSC).

What documents are needed to open a bank account in Mauritius for a non-citizen?

• Valid passport (original and copy)
• Proof of residence in the home country (original and copy)
• Bank reference from the country of origin
• CV detailing professional status

How long does it take to open a bank account in Mauritius?

It typically takes around two working days.

In what currency can I open a bank account?

You can open a bank account in foreign currencies like ZAR, EUR, or USD.

Which banks are present in Mauritius?

Some major banks in Mauritius include ABC Banking, Absa Group, AfrAsia Bank, Bank of Baroda, Bank of China, HSBC, Investec, SBM, MCB, and many more.

Residence Permit

How old do I need to be to retire in Mauritius?

You must be at least 50 years old.

How much money should I transfer to a local bank monthly?

You must transfer at least USD 1,500 per month or an aggregate of USD 18,000 per year.

Should I provide evidence of the transfer of funds each year?

Yes, you should provide a bank statement or letter from the bank at the end of each year to the Economic Development Board (EDB).

Can I switch from a Premium Visa to a Retiree Permit?

Foreign nationals on a Premium Visa can apply for a 10-year renewable Residence Permit as a retired non-citizen.

Healthcare

Are medical facilities easily accessible in Mauritius?

Yes, healthcare is accessible through both public and private hospitals.

Am I eligible for treatment in public hospitals?

As a foreign citizen, you will need to pay a fee for treatment in public hospitals.

Education Sector

How is the education system in Mauritius?

Mauritius offers high-quality education, and both British and French schooling options are available. 

Personal Household Items

Can I import household items to Mauritius?

You can import household items tax-free within six months of your arrival.

Pets

Can I bring my pets to Mauritius?

Yes, pets can be brought to Mauritius, provided they undergo a quarantine period of at least five working days.

Flight Connectivity

Are flights easily accessible from Mauritius?

Mauritius offers direct flight connections to Europe, Asia, and Australia. Visit this link for more information.

References:

Residency in Mauritius. (n.d.). Retire – Residency in Mauritius. Retrieved September 2024, from https://residency.mu/fr/retire/

Disclaimer:

The information provided in this article is for general purposes only. Mauritius.com makes no guarantees regarding the accuracy or completeness of the information. Please verify details with local authorities before making any decisions.