It Just Got Easier for South Africans Wanting to Invest and Retire in Mauritius

The Mauritian government has made changes to investment thresholds, the extension of work, residence, retirement permits, and attractive property acquisition options. This has led to renewed interest in the country from South Africans who are looking at Mauritius as a permanent destination, says Marisa Jacobs, director at advisory service, Xpatweb. In the past, South African retirees were only able to obtain a three-year permit for Mauritius. This has been extended to 10 years, with the requirement that the individual earns a recurring income of $1,500 per month, said Jacobs. The amount can be paid annually, quarterly, or monthly, as long as it works out to $1,500 per month. Jacobs said that the minimum investment to obtain an Occupational Permit (OP) has also been halved from $100,000 to $50,000. The parents of an OP holder may now obtain a dependent permit to live in Mauritius. Professionals who are working as independent contractors can qualify for the self-employment permit, she said. The requirement for this permit is a deposit of $35,000 into their Mauritian bank account, and this permit is also valid for 10 years.

SOURCE: BUSINESSTECH