Retirees can live in Covid-safe Mauritius for USD 1,500 per month

People's outlook in terms of health and wealth during the pandemic has changed. Safety and security are steadfast as top priorities for those looking for a better-quality lifestyle. Mauritius meets those needs. 

What do retirees want? 

Retirees can no longer be defined as the blue-rinse brigade - the term given to little old ladies who requested that look at the hairdresser decades ago. Today, retirees are simply people who have chosen to stop working. According to one definition, they have "completely different expectations of what later life might bring". 

The Economic Development Board (EDB) Mauritius notes that the island has successfully managed the Covid-19 pandemic by adopting adequate sanitary measures. As a result, Mauritius holds even greater appeal as a retirement destination for noncitizens from various countries.  

Can retirees get a residence permit? 

In September 2020, the government of Mauritius extended the validity period of a residence permit for noncitizen retirees, aged at least 50 years, from three to 10 years. One of the qualification criteria is a monthly sustenance transfer of just USD 1,500 for the duration of the permit. What's more, a retired noncitizen with a residence permit can be accompanied in Mauritius by their spouse, their children aged 24 years or younger, and their parents. 

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. 

"Total private wealth held in Africa is expected to rise by 30% over the next 10 years, reaching 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 their annual Africa Wealth Report, Amoils adds that the coronavirus outbreak has had a severe impact on Africa. "Our estimates show that private wealth and HNWI levels in Africa have dropped by around 9% over the past year (2020) alone. However, the Africa Wealth Report is the benchmark of luxury sector research in Africa and Mauritius features constantly in the top echelons. "Knowing where affluent individuals live, understanding their spending habits and being aware of their preferences is critically important to the providers of wealth management and luxury services in Africa and globally," he says. 

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 all year round. Mauritius is safe. You can decide to come to Mauritius anytime the borders are open and you can be sure to have a comfortable stay in a luxury villa or apartment," says Sachin Mohabeer, director of real estate and hospitality at the EDB. 

Mauritius has a very good healthcare system and offers a safe, stable and predictable environment for retirees. In a nutshell, he says Mauritius can be regarded as a great place to live, with 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 and most appealing 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 socialising. 

Les Residences de Mont Choisy is a Real Estate Scheme by 2Futures, the top luxury property development 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. They come with a 10-year building construction guarantee as well as a two-year interior warranty. 

Residents also get the benefit of onsite restaurants and a bar, access to a hair salon, spa, interior and exterior pools, a 24/7concierge 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 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. "I chose Mauritius as my retirement destination as the country is blessed with social peace, warm climate, friendly population, beaches, beautiful hotels, and golf courses. Moreover, it offers financial opportunities, a good healthcare system and reputable French schools. I have travelled to several countries across the world and lived in metro cities including Singapore, Hong Kong, London, Sydney, and Noumea. I am also very familiar with the Caribbean and all of Southeast Asia as well. Mauritius is by far the best choice. I settled here with my wife and my 15-year-old child in August 2016. I am also very happy that I was granted the right to stay here until 2029." 

To find out more about buying property at Les Residences de Mont Choisy, contact Rinie on rb@propertytime.mu or +230 5817 7553.