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FWIW :

Rules are changing or would change based on th new budget

USD 18000 will change to USD 20000

10 yr retirement permit is being changed to 5 yrs

Any idea when these new changes will come into effect?

@External

I've been told that this is now $2000 per month, which is $24k per year and not $20k  ?

@External

Thanks.

@External

Thanks. Hopefully existing 10-year permits won't change to 5-year permits?

@gordon081257

My Mauritius legal representation says that anything before the budget still stands

@graemewilliams

Thanks Graeme, do you mean in terms of documents e.g. permits? Presumably the guaranteed income limits will apply to all with retirement visas? If it's USD24,000 p.a - a 33% uplift - I might be forced to return to the UK. Depressing.

OK, I've just carried out a lot of Google searches, and the only financial organisation I can find commenting on these issues from the latest budget is Regan Van Rooy, scroll down to "Mauritius permits":

In case the URL doesn;t appear, key points below, emphases mine, I'll email the lady who wrote the article, to ask if any changes to the guaranteed income levels, and will post her reply here.

The validity period for Retired Non-Citizen Residence Permits and Occupation Permits for investors and self-employed individuals will be reduced from 10 years to 5 years, with the option for renewal subject to compliance checks.

A maximum age limit of 24 years will now apply to dependent children across all permit categories.

Retired non-citizens holding residence permits must now reside in Mauritius for at least 180 days per year to retain their permit.

Individuals holding a Retired Non-Citizen Residence Permit will be prohibited from taking up employment or conducting any business activity in Mauritius.

The Young Professional Occupation Permit will be shortened from three years to two years. Afterward, eligible individuals may apply for a standard Occupation Permit in the Professional category, provided they meet the criteria.

Non-citizens purchasing residential property under the EDB-approved schemes will now pay a 10% registration duty (previously 5%) on the property’s value at the time of registration.

@External
I've been told that this is now $2000 per month, which is $24k per year and not $20k ? - @KC_

Correct

my. mistake

Good and pertinent questions.

My two bits -- reassess the finances , and ask the EDB directly.

Do not believe everything you read here.

What is true is that the financial rules are changing, apart from many other things which will impact on expat retirees.

Best wishes.

@External

Wow, a 1/3 increase. Too depressing for words!

@Tookays

Thanks Tookays!

@Tookays

Hi. No one (including edb) knows what will be the criteria for residence permit until the amendment to the law is tabled at the National Assembly for vote.

I've had the following reply from the lady at Regan Van Rooy :

"The EDB Act will amend the Residence Permit criteria for retired non-citizens to require an initial transfer of at least USD 2 000 into a local bank account within 60 days of the permit being issued. Thereafter, the individual must transfer either USD 24 000 annually or USD 2 000 monthly.

We believe this requirement will apply on a go-forward basis to new applicants. However, we will need to await the release of the Finance Bill, expected before the end of July. We will provide further clarity in a follow-up article once the details are confirmed."

@gordon081257

That sounds about right. In any case, if an expat (couple) wants a decent life in Mauritius comparable to what they have left behind, $2000 per month should be budgeted for, including rent.

Best wishes.