Retirement permit and USD 18 000.00

nicholasmound Member

Member since 19 December 2024

nicholasmoundMemberYesterday 13:51:16

Hi Everyone, very happy to have received our agreement in Principle.聽

Please is anyone able to clarify the issue of the $18000 and a Mauritian bank account, when we come for the appointment for the issue of the permit.

I know that a certified bank statement showing we have the $18k in our home Country is required when we go to the appointment, but I am not clear if we need to put any funds ($1500?) or the full $18k into a Mauritian bank account BEFORE we go for the appointment?

I notice on the platform that under "proposed transfer amount" they need a Mauritian bank name and address,(and this is required) but don't ask for an account number?聽聽So if we are planning to open an MCB account in Tamarin do I just put that in?聽 We have not opened an account yet as we are only planning to come end of Jun 25.

I did contact the EDB and their answer was rather confusing.聽 We need proof that we do have the $18k, but there is no mention of when we have to pay it, but the platform is asking for local bank details (except the actual account number)

Can anyone help clarify please? Many thanks, Nick

appelanchelle Member

Member since 01 February 2023

appelanchelleMemberYesterday 17:04:23

@nicholasmound,you have to聽 transfer $1500 per month to your Mauritius bank account ($18000 is the yearly amount)you can DM me if you need more info

nicholasmound Member

Member since 19 December 2024

nicholasmoundMemberYesterday 21:04:27

@appelanchelle, many thanks for your reply and will DM you, Nick

Tookays Serial expat

Member since 14 December 2022

TookaysSerial expatToday 07:18:48

301

I think you can apply for the permit showing $18000 in your overseas account, and you can get the agreement in principle. After you come to Mauritius, you should be able to open a bank account with the 'agreement in principle'聽 and a proof of local address. Some retirees have said that is the main barrier. The EDB says it should be fine, but the banks still want lots of documentation. Then transfer some money into that account to pay the fees etc. Once you have got the permit, you should be transferring at least $1500 per month, or $18000 per year; after 3 years you can then apply for the 20 year permit. If I was going down this route, I would make sure I could stay in Mauritius for at least 2 months before all this gets sorted and also get a rental agreement somewhere for at least 6 months for proof of address.

However, I might be wrong!!

Best wishes.