WORDS: DEBBIE HATHWAY :: PHOTOS: SUPPLIED
Moving to Mauritius when you are 50+ is more about refiring than retiring.
Who doesn’t want to live somewhere so beautiful it makes your heart sing? Especially when you’re at the stage where you can make better life choices about what you want to do, where and how – in your own good time. Choosing Mauritius as the place to live from 50 onwards – the age the island government deems it fit to retire to their sunny shores – could be the best move you ever made. On what locals call their “paradise island”, it’s more about refiring than retiring, such is the influence of the environment, atmosphere, culture and people who live by the maxim “don’t worry be happy”. It’s no wonder this Indian Ocean island leads the African country rankings on the World Happiness Report from 2020 to 2022. Also, in the latest ranking published by Le Figaro, Mauritius was recognised as the fourth-best country in the world to retire.
DON’T WORRY, BE HAPPY
Beyond the scenic attractions and financial incentives that make Mauritius an appealing destination for business and pleasure pursuits, the island government doesn’t miss an opportunity to welcome foreign investment and encourage people to explore new avenues for growth and development. The silver economy is one of them.
Average global life expectancy shot up from 65 in the early 1990s to 80 years in the EU, 77 in the US, and 76 in Latin America and the Caribbean, according to the World Bank, thanks to better healthcare, working conditions, nourishment, and access to clean water. Rothschild & Co, one of the world’s largest independent financial groups, points out that “if everybody over 50 in the EU were one country, it would be the third-largest economy in the world… Senior people have more free time and higher purchasing power than the rest of the population and are active consumers… More generally, companies [and governments] positioned to help stem the effects of ageing and improve quality of life will prove popular with silver economy consumers.”
The Economic Development Board (EDB), the national investment promotion agency of the Government of Mauritius, claims that 40% of retirees involve themselves in some kind of business on the island, often different to their initial training, in areas such as real estate, hospitality, financial services, ICT, health and education.
REFIRE IN MAURITIUS
About 60% of retirees living in Mauritius are French, 15% are South African and 8% are from the UK, their total number increasing by more than 150% between 2007 and 2022, according tothe EDB.
If you are 50+ and want to enjoy the laidback, quality outdoor lifestyle that Mauritius promises, there are three cost-effective ways to do it:
- Apply for a 10-year retired residence permit, which is renewable. With a monthly transfer of US$ 1,500 to a Mauritian bank account in your name (or an aggregate amount of US$ 18,000 annually) a non-citizen and their dependents can live in Mauritius for 10 years.
- Gain residency by buying a house, villa or apartment in an approved Property Development Scheme (PDS). The residence permit is also valid for the applicant’s dependents (spouse, common-law partner, and children) and remains in place for as long as they own the property. The minimum purchase price is US$ 375,000, except for acquisitions in a real estate development intended for retirees, referred to as “PDS for Senior Living”. These residences are designed for those who want to live independently in a peer environment, with access to facilities for recreation and socialising, including a clubhouse, health club or gym, and more.
- Apply for a Premium Visa. Citizens from over 110 countries can live in or work remotely from Mauritius with their families as long-stay tourists, retirees or professionals for a period exceeding six months up to one year with an option to renew.
WHAT’S NOT TO LOVE
Each year, visitors flock to Mauritius to enjoy its warm cerulean sea, lush tropical beauty and high-end hotels. Those who fall in love with everything else the island has to offer often make plans to return and stay, drawn by the island’s tax-friendly regime, high standards of healthcare, good quality of life, global connectivity, high-quality amenities, good infrastructure and services, diversified economy, dynamic business regime, political stability, and safe environment. The government does not tax wealth, inheritance, dividends or capital gains. The taxation regime is progressive from 10% to 15%. A significant benefit is that income derived by a retired person or their spouse or common-law partner outside of Mauritius for the previous five years is exempted from income tax.
Another draw is a wide choice of investment property in a safe and secure environment. One example is Heritage Villas Valriche in Bel Ombre in the preserved south of Mauritius, which has sold approximately two-thirds of its homes to foreign buyers of retirement age many of whom are still economically active either in Mauritius or keeping in touch with their businesses remotely.
HERITAGE VILLAS VALRICHE
Steve Argyle is a retired 66-year-old British citizen who bought a villa at Heritage Villas Valriche. He most recently worked as Supply Chain Director for Cadbury South Africa. He explains why he bought a villa in Mauritius: “We have had a holiday in Mauritius every year for the past nine years. Heritage Le Telfair is our favourite hotel and Heritage Villas Valriche is a pristine and secure estate just next door offering a lifestyle that is hard to match. I chose Mauritius for the attractive tax position and because the Mauritian people are such genuine warm and friendly people.”
Heritage Villas Valriche is the largest, villa-only residential development in Mauritius, finished to the highest quality by a leading team of architects, and sensitively built to complement and adapt to the abundance of natural wonders the island offers. Developed by Les Villas de Bel Ombre Ltee (a member of the Rogers Group), several off-plan properties and resale units are available, as well as a generous selection of freehold building plots. This enables buyers to create a truly bespoke look and feel, as they design and build the villa of their dreams to suit individual tastes and lifestyles.
LUXURY VILLA RENTALS
CEO of Heritage Villas Valriche Anton de Waal says: “At Heritage Villas Valriche the mundane household tasks of gardening, painting, pool maintenance, varnishing and other tasks are taken care of efficiently so that homeowners can focus on leisure or work. As part of the five-star Heritage resort, they can enjoy the beach, the two international golf courses and spas at the hotels or the wonderful hiking and mountain biking experiences in the surrounding UNESCO Man and Biosphere nature reserve.”
Previously the super-luxury sustainable development catered for short stays or holiday rentals, but now renting a villa with three or four bedrooms en suite for six months or longer is an option. Commenting on the decision to launch long-term luxury rentals at Heritage Villas Valriche, Development Sales Manager Peet Strauss says, “We find more and more people are looking to stay in Mauritius longer before making final decisions to move countries. Others are comfortable working remotely and want to stay six months or longer with the necessary permit. We also have some investors who buy off-plan choosing to be on-site for part or all of the construction period for their new home – that’s a 24-month minimum.”
To find out more about the remaining properties and long-term luxury rentals at Heritage Villas Valriche,
contact Peet Strauss at +230 5423 5071 or
email: projects@pamgolding.mu
