Updated: May 20, 2021
RETIRE IN MAURITIUS WITH TAX FREE ON YOUR FOREIGN INCOME FOR 5 YEARS
If you are planning your retirement, now is the time to have a look at this scheme "Retirement based communities" from Mauritius for Foreign Citizens.
Who is Eligible?
You must be above 50 years of age to be considered in this retirement scheme and purchase a residential unit, designed exclusively for senior citizen, which will:
Provide for Personal Care and Home Care Services
Include a Nurse Station
Cater for Daily Food
24 Hours on-site monitoring
Emergency Health Services
The retiree must
Purchase a residential unit either on the basis of plan, during contraction or when completed.
Acquire the right to live in a residential unit for the rest of their life free of rent;
Lease or rent a residential unit, under the scheme.
A non-citizen retiree applying under this scheme will be eligible for a residence permit for himself/herself and his/her spouse or common law partner until such time the property is no longer owned or occupied by the retiree
Requirements for Non-Citizen Permit
Under this "Retirement Based Community" scheme, the foreign retiree will benefit from a 5-year income tax holiday and issued with a residence permit. Income includes pension income and other income remitted to Mauritius by himself/herself and his spouse or common law partner
Further more, a foreign retiree who is taking permanent residence in Mauritius will be eligible to the stand exemption of customs duty and VAT granted on importation of household and personal effects.
Benefits to a Senior Living Residence Promoter
For those interested to invest as a promoter, they will benefit from:
5 year income tax holiday on profits generated
exemption from customs duty on the importation of machinery, construction materials and other inputs including furniture in semi-knocked down form on the condition that at least 20% local value addition is incorporated therein; and
exemption from provisions of the Morcellement act
Please book a session with us for more information or simply email us.