EDB – Info – The demand for retirement homes and aged care services is expected to grow rapidly over the next few decades as the proportion of elderly people in the world increases.
Mauritian property developers are taking advantage of this opportunity to attract senior citizens to Mauritius.
Indeed, Mauritius has all the attributes to attract foreign retirees to live in its purpose-built luxury retirement homes.
Retirement home operators, care providers and specialised real estate companies are currently taking advantage of this foreseeable growth and the current very high demand.
1 – INCENTIVES FOR A PERSON ACQUIRING A RESIDENTIAL UNIT
a) A non-citizen retiree who has acquired a residential unit from a PDS company for senior living may apply for a residence permit for himself and his spouse or partner.
The residence permit remains valid as long as the retired person occupies the residential unit.
(b) Any income derived from outside Mauritius during the next five (5) income years by a pensioner or his spouse or common-law partner, who has acquired residency status in Mauritius, shall be exempted from income tax.
The income year starts from the income year in which the pensioner or his spouse or common law partner comes to Mauritius.
2 – INCENTIVES TO A PERSON ENTERING INTO A LIFE INTEREST
(a) A non-citizen pensioner who has acquired a right to live in a residential unit with a PDS company relating to the living of the elderly may apply for a residence permit for himself and his spouse or common law partner.
The residence permit remains valid as long as the pensioner occupies the residential unit.
(b) Any income derived from outside Mauritius during the next five (5) income years by a retired person or his spouse or common law partner, who has acquired the status of resident in Mauritius, shall be exempted from income tax.
The income year starts from the income year in which the pensioner or his spouse or common law partner comes to Mauritius.
3 – INCENTIVES FOR A PERSON RENTING A RESIDENTIAL UNIT
(a) A non-citizen pensioner who rents a residential unit from a PDS company relating to elderly living is entitled to apply for a residence permit for himself and his spouse or common-law partner.
The residence permit remains valid as long as the pensioner occupies the residential unit.
(b) Any income derived from outside Mauritius during the next five (5) income years by a retired person or his spouse or common-law partner, who has acquired the status of resident in Mauritius, shall be exempted from income tax.
The income year starts from the income year in which the pensioner or his spouse or common law partner comes to Mauritius.
If you would like more details, please consult one of our experts.
