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@gordon081257 You can show either a total amount of USD18,000 in your bank account or periodic payments of USD1,500 per month.

If the monthly is a problem, then show a lump sum in your account (which has been there for at least 6 months) of USD18,000.

This has to be shown annually. But as long as you have USD18,000 now, you can get the ball rolling.

Thanks SafferCA. By "your account" do you mean a UK account or Mauritian account? Presumably the former as this is pre-visa? So the sources of the USD18,000 lump sum or USD1,500pcm don't matter, so long as you can show the sums on bank statements?

Good afternoon. A friend (57) wishes to apply for a 10-year retirement residency visa, but we're both struggling to establish what income will be treated by EDB as "guaranteed income" for the visa. He's not yet entitled to his company or state pensions - which would of course rank as "guaranteed income" - but what about his rental income from his UK property when he emigrates to Mauritius? Thanks. - @gordon081257

@gordon081257

Hello Gordon,

Great question! I’m struggling with the same thing! My retirement income will not be enough this cover the monthly requirement so I will need additional income. Best of luck to you!

@freegwendolyn

Thanks. You may have seen other replies about having a lump sum in an account instead.

@gordon081257 Correct. Also, if you're going for the US$1,500 per month, they don't care whether it is a pension, a gift or a salary. As long as it is a constant flow that equals US$18,000.

My application was approved on a lump sum. It was much simpler to deal with and the only proof was a bank statement from my foreign account. I have since transfered the money to Mauritius.

@SafferCA

That is the main criteria nowadays I think. Show the money in your bank account abroad; it is understood then that you will transfer money into Mauritius for living expenses once you have opened your local bank account. $1500 is fine for a single person, or even a couple living simply. However, if you do have this coming into your account per month, and you become tax resident in Mauritius, do you have to pay your taxes as per local rules? Or is this exempt?

Best wishes.

@Tookays If you become a tax resident, which you would be if you are in Mauritius for more than 183 days, as I will be this year, you pay tax on your income. If it is a lump sum, for example savings or investments, you will only pay tax on taxable income. No capital gains. The tax rates are generally lower than most other jurisdictions. There are double taxation agreements with many countries to prevent you paying tax on both sides.

@SafferCA

Thank you. The retirement permit specifically says I cannot have paid employment or perks in the country.

Are funds remitted from outside the country, say UK, which have already been taxed, be taxed again in Mauritius? Probably not.  However, if my pension is sent to Mauritius, without tax paid in the UK, I think I will be taxed in Mauritius anyway since I presume this will be treated as 'income'.

I must look up the tax rules in Mauritius for °µÍø½ûÇøs on a retirement permit. As you say, the thresholds are better in Mauritius.

Best wishes.

@Tookays yes you cannot get your income from within Mauritius. Any discussion on this assumes it comes from a foreign source. You may well be taxed in that foreign jurisdiction but if you are a Mauritian tax resident you will be taxed again. There are tax treaties and credits that prevent double taxation. This you will need to sort out depending on your circumstances.

@SafferCA

Thanks!

@SafferCA

Thanks.

@SafferCA

As far as I know, there are tax agreements between Mauritius and the UK. If I can persuade my wife to move, I shall definitely become tax-resident in Mauritius. All my 'income' will be from the UK so hopefully my tax status will be better.

Best wishes.