Earlier this year, Discovery, one of South Africa’s largest insurers, reported that Mauritius was in the top 3 countries visited by its clientele, reinforcing the narrative that the island nation is an accessible, increasingly desirable tourism hotspot.
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This was bolstered in May 2024 when the Mastercard Economic Institute released its newest report on global travel, with the research showing that in the coming months, South Africans will be flocking to Mauritius, a holiday destination second only to Dubai.
But what these reports don’t mention – and what the Economic Development Board of Mauritius has learned – is that South Africans are starting to see Mauritius as more than a holiday getaway. Rather, many are planning to spend their golden years on the island’s sunny shores.
Beyond the island lifestyle, many are finding Mauritius to be an affordable, safe, and healthcare-focused retirement option that continues to attract retirees from across the world. The total number of retirees increased by over 150% between 2007 and 2022, mostly from France, South Africa, and the United Kingdom, meaning the Mauritian government’s ongoing efforts to build a new global retirement hub are working.
Key to this strategy has been the way in which visas and taxes have been altered in recent years to build not only a retirement destination, but an African-based international finance centre (IFC) as well, meaning this powerful economic generation is able to live on, and invest in, Mauritius.
The economic benefits
Many retirees and entrepreneurs – especially the digital nomads who we hope one day will retire here – are attracted to a series of Double Taxation Avoidance Agreements (DTAAs). The DTAA agreements between Mauritius and several other countries, including South Africa, include provisions aimed at preventing double taxation.
Furthermore, the absence of taxes on wealth, gains, and successions in Mauritius makes it a preferred destination for foreign retirees looking to settle down, alongside the ease of access to visa and residency permits. Mauritius offers three main cost-effective routes for non-citizens aged 50 years and above to live there:
A 10-year retired residence permit
With a monthly expenditure of 1 500 USD, a non-citizen and his/her dependents can live in Mauritius for 10 years, and this permit is renewable.
Residency by acquisition
Non-citizen retirees can buy a house, villa, or apartment in a Property Development Scheme for senior living at no minimum price. The scheme caters for retired non-citizen adults aged 50-plus who want to live independently in a peer environment. Retired non-citizens can also buy a residential property under the conventional Property Development Scheme or Smart City Scheme for a minimum of USD 375 000.
Premium Visa Scheme
Citizens from over 110 countries can live in Mauritius as long-stay tourists, retirees or professionals, with their families, to reside or work remotely from Mauritius. It allows foreign nationals to stay in Mauritius for a period exceeding six months up to one year with an option to renew.
Safety, diverse healthcare options
While the financial and legislative benefits are clear, there are two other important factors that repeatedly emerge when interviewing new Mauritian retirees. Firstly, the low crime rate and that the vast majority of offences recorded by the police force are usually petty crimes. The Africa Organised Crime Index has also determined a criminality score that places Mauritius in the bottom 10 of all 54 African countries.
Secondly, the fact that both private and public healthcare systems are world class, and that Mauritius’ recent investment in the sector is providing innovative new treatment options and services. This has been a result of the country’s ongoing push to attract new investors in the healthcare sector, from pharmaceutical developers to medical device manufacturers.
Mauritius boasts a Universal Health Coverage index of 66, according to the World Health Organisation, significantly higher than the African average (44). One of the main reasons for this is the network of facilities that are strategically placed to provide healthcare access to people within a distance of less than five kilometers. Between the numerous Medi-clinics and health centres for treatment of typical ailments, 5 general public hospitals, and 6 specialised facilities, the public healthcare system is deftly handling the medical needs of the local population and newcomers alike. Naturally, these facilities are supported by 18 private clinics and 11 specialised centres, meaning a diversified medical care landscape that prioritises choice.
Ultimately, Mauritius is transforming. It’s no longer just a tourism destination where one spends a week to unwind. It’s becoming an investment hotspot, a medical innovation hub, and the forever-home for retirees from across the world.
To learn more about retiring in Mauritius, visit www.myretirement.mu
