South Africans are flocking to this tiny island for retirement
Category Live in Mauritius
Mauritius has experienced an almost three-fold increase in the number of retirees flocking to its shores, with South Africa being one of the top three feeder countries.
For many years, Mauritius has been a top destination for South African holidaymakers-partly due to its close proximity, which makes travel convenient and affordable.
The island offers a unique blend of cultural experiences, pristine beaches, and luxurious resorts, providing an ideal getaway.
Additionally, Mauritius has a visa-free policy for South Africans, further enhancing its appeal. The variety of activities, from water sports to exploring diverse culinary offerings, caters to all types of travellers.
Mauritius's reputation for safety, coupled with its beautiful landscapes and warm hospitality, makes it a favourite destination for South African holidaymakers seeking both relaxation and adventure.
However, according to the Economic Development Board of Mauritius (EDB), 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.
The EDB noted that 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 2023, with France, South Africa, and the United Kingdom being the top three feeder countries.
The exact number of South Africans who have moved to Mauritius is not always easy to determine due to varying sources and the evolving nature of migration statistics.
However, recent reports indicate that thousands of South Africans have taken up residency in Mauritius, with estimates ranging between 4,000 to 10,000 South Africans living on the island.
The introduction of various residency and investment schemes by the Mauritian government has further facilitated this trend.
One of the primary reasons South Africans are considering Mauritius for retirement is its favourable tax regime. The island nation offers a low and straightforward tax structure, with no capital gains tax, inheritance tax, or wealth tax.
This is particularly appealing to retirees looking to preserve their savings and investments while enjoying a high quality of life.
Mauritius also boasts a strong and stable economy coupled with a secure environment. The island consistently ranks as one of the safest countries in Africa, offering political stability and a well-established legal system.
This sense of security is essential for retirees, especially those coming from South Africa, where crime and political uncertainty are often concerns.
The Mauritian government has made it easier for foreigners to retire on the island by introducing favourable residency options.
Among these is a 10-year Retired Residence Permit, which allows a non-citizen and his/her dependents to live in Mauritius for 10 years, and this permit is renewable.
Others include residency by investment and allowing citizens from certain countries to live in Mauritius as long-stay tourists, retirees or professionals with their families to reside or work remotely from Mauritius, allowing foreign nationals to stay in Mauritius for a period exceeding six months up to one year with an option to renew.
The proximity of Mauritius to South Africa is another factor, with direct flights making it easy for retirees to visit family and friends. Additionally, English is widely spoken, making it easier for South Africans to integrate into the local community.
In 2024, with ongoing challenges in South Africa, including economic instability, high crime rates, and concerns over the future, many South Africans are increasingly looking to Mauritius as a secure and attractive retirement destination.
International agents and Mauritian developers also point to evidence of an increased interest in Mauritius as a retirement destination.
They highlighted that sales of leading developments on the island have seen unprecedented growth in recent times, with Brits, Europeans, and South Africans viewing the island as a "safe haven."
Since 2014, the Bank of Mauritius has reported that foreign direct investment in high-end property reached 63.3 billion rupees (R25 billion)-roughly 40% of the nation's total international investment inflow.
Source: BusinessTech
https://businesstech.co.za/news/lifestyle/787237/south-africans-are-flocking-to-this-tiny-island-for-retirement/
Author: Pierre