The Economic Development Board (EDB) of Mauritius recently made some key adjustments to the requirements necessary for a non citizen to obtain a retirement permit in the country.
A foreign national over the age of 50 years should make an initial transfer of at least USD 1,500 or its equivalent in freely convertible foreign currency to his/her local bank account in Mauritius. Thereafter, the Retired Non-Citizen should transfer at least USD 1,500 monthly or transfer of such amounts, by installments or otherwise, the aggregate of which shall be at least USD 54,000 or its equivalent in freely convertible foreign currency, during the 3 years’ validity of the residence permit. This equates to USD 18,000 per year. At the end of each year, the Retired Non-Citizen should submit to the Economic Development, evidence of transfer of funds into his/her local bank account.
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