Wealth management in Mauritius

“Alexis, I'm retiring to Mauritius next year. I've been told my pensions will barely be taxed there. What will I really keep?”

Less than you were told. Your basic state pension and your Agirc-Arrco supplementary pension remain taxable in France only, even once settled in Mauritius: the tax treaty expressly provides for this for pensions paid under social security.

Mauritius had 12,571 French nationals on the consular register as at 31 December 2025, compared with 11,903 a year earlier, that is +5.6% in one year. Retirees, entrepreneurs and families are moving there in growing numbers, often drawn by a tax system presented as light.

Two texts matter: the treaty of 11 December 1980 for taxes on income and wealth, and, for inheritance, none. At Balmont Conseil, we read the treaty article by article against your actual situation, because it is the treaty, not the brochure, that says where each type of income is taxed.

1. Why seek expert wealth management in Mauritius?

Four points decide your situation, and none of them is the one usually put forward.

Your French pensions. The general scheme and Agirc-Arrco fall to France alone (Article 18 § 2). So does a civil service pension, unless you hold Mauritian nationality (Article 19 § 2). Only private pensions in the strict sense, outside compulsory schemes, fall to Mauritius.
What is not remitted. Mauritius taxes its residents on their Mauritian income and on foreign income remitted there. But a private pension not taxed in Mauritius becomes taxable again in France (Article 18 § 3): leaving the money outside Mauritius is not neutral.
Your resident status within the meaning of the treaty. Article 4 § 1 excludes from the definition persons taxed in a State only on their locally sourced income. This is a point to examine before departure, not after a tax audit.
Your estate. No treaty governs it: France applies Article 750 ter of the French Tax Code, Mauritius its own law. Nothing coordinates the two.

2. The France ↔ Mauritius framework in five verified points

Here is the applicable framework, checked against official sources as at 1st October 2026.

French nationals on the register	12,571 as at 31 December 2025 (+5.6% in one year).
Income tax treaty	Yes — treaty of 11 December 1980, protocol of 23 June 2011 on exchange of information, modified by the BEPS multilateral convention. It covers income tax and wealth tax, and therefore IFI.
Estate tax treaty	No. No treaty governs inheritance or gifts between France and Mauritius: Article 750 ter of the French Tax Code applies with no treaty correction.
Exit tax — deferral of payment	Automatic deferral of payment : Mauritius is bound to France by both exchange of information and assistance in recovery (annex BOI-ANNX-000508), and is listed in the notice for the 2026 form 2074-ETD.
CSG and CRDS on property income and capital gains	17.2% on property income and property capital gains, 18.6% on furnished lets since 2025 income. The reduced rate of 7.5% is reserved for members of a European, Swiss or British scheme.

Sources: list of tax treaties concluded by France (BOI-ANNX-000306, updated 29 April 2026); exchange-of-information and recovery-assistance clauses (BOI-ANNX-000508, position at 8 October 2025); register of French nationals living outside France at 31 December 2025 (Ministry for Europe and Foreign Affairs); text of the treaty published by impots.gouv.fr; impots.gouv.fr for non-residents' social charges. Position as at 1st October 2026.

On pensions. The tax authorities expressly classify Agirc-Arrco as a social security pension (BOI-INT-DG-20-20-50). For a private-sector retiree, most of the pension therefore remains taxed in France, at the minimum non-resident rate or at the average rate if more favourable. CSG and CRDS are no longer due, but a health insurance contribution of 3.2% on the basic pension and 4.2% on the supplementary pension is deducted if you remain covered by French health insurance.

On inheritance. Property located in France remains taxed in France. And an heir domiciled in France for at least six of the last ten years is taxed there on everything they receive, including Mauritian property. These questions are settled with a Mauritian notary for the local side.

On exit tax. The deferral is automatic, but the declaration remains compulsory: in the year of departure, then every year as long as the deferral runs.

What we do not show. The Mauritian income tax scale was amended by the Mauritian Finance Act of August 2026; we do not quantify it until the Mauritian authorities have published the updated text. It is handled with a professional authorised in Mauritius, with whom we coordinate.

3. Our services: 360° support for expatriates and investors

Three workstreams, in the order in which they are decided.

Your income, pension by pension

We classify each of your pensions under the treaty: general scheme, compulsory supplementary schemes, public pension, voluntary retirement savings. Then we calculate what remains taxed in France, what is taxed in Mauritius, and the cost of remitting the income or not.

Your French rents, for their part, remain taxable in France, with 17.2% social charges on unfurnished lets and 18.6% on furnished lets.

Allocation of each pension between France and Mauritius.
Minimum rate or average rate: the more favourable of the two.
Timetable for remitting foreign income.

Departure: residence and exit tax

The residence permit is applied for according to your profile: purchase of a property worth at least US$375,000 in an approved scheme, or a retirement permit from age 50 with transferred income of at least US$1,500 a month, according to the Mauritian Economic Development Board. We then date your tax departure, on both the French and the Mauritian side.

If your securities exceed €800,000 or if you hold at least 50% of the profits of a company, the exit tax applies (article 167 bis of the general tax code): the deferral is automatic to Mauritius, the declaration is not.

Estate transfer without a treaty

We work out what each heir would pay, depending on their domicile and where the assets are located, then look at the appropriate tools: gifts, Luxembourg assurance-vie contract, split of ownership. The purchase of a property in Mauritius is considered at the same time: it falls into the French estate of any heir domiciled in France.

4. Methodology: our way of working

We work in four stages, and at each stage you know where you stand.

The initial review. We establish your actual situation: the make-up of your wealth, the project timeline, the situation of each member of the household, and the tax domicile of your heirs — because it is theirs that counts, not yours.
The applicable framework. We set out, source by source and with its date, the framework that applies to you. What we do not know, we mark “to be confirmed” — never anything else.
The choices. We present the options with figures and their respective consequences, and you decide. Wealth structuring comes after the decision, not before.
Ongoing monitoring. An annual review, free of charge, to check that the framework has not moved — treaties are amended, incentive regimes are abolished, thresholds change.

5. What the firm offers you

What concretely sets our work apart.

Sources, not claims. Every item in your file carries its reference and its date. You can check. It is the only way to work on a subject where most of the information available online is out of date.
A single point of contact in France. We coordinate your local advisers; we do not replace them: the host country's domestic tax rules are handled with a qualified professional on the ground. Our role is to keep the whole picture consistent and to defend the French side of the file.
Fees that are easy to understand. Fees disclosed before any commitment: fixed-price reviews, tailor-made engagements at €500 incl. VAT per hour, insurers' commissions on contracts taken out. The annual review is free of charge.

Frequently asked questions: Mauritius

Will my pension be taxed in Mauritius or in France?

In France, for the general scheme and Agirc-Arrco: Article 18 § 2 of the treaty reserves to France pensions paid under its social security. A civil service pension is also taxed only in France, unless you hold Mauritian nationality (Article 19 § 2). Only voluntary private pensions fall to Mauritius.

Will I still have to pay CSG on my pension?

No: CSG and CRDS are only due from people whose tax domicile is in France. If you remain covered by French health insurance, a contribution of 3.2% on the basic pension and 4.2% on the supplementary pension replaces them (Article L131-9 of the Social Security Code).

Is there a treaty on inheritance between France and Mauritius?

No. The treaty of 11 December 1980 covers income tax and wealth tax, not inheritance or gifts. France therefore applies Article 750 ter of the French Tax Code: assets located in France, and all assets received by an heir domiciled in France for at least six of the last ten years.

Does the exit tax apply if I go to Mauritius?

If your securities exceed €800,000 or if you hold at least 50% of a company's profits, then yes (Article 167 bis of the French General Tax Code). Payment is automatically suspended, with Mauritius assisting France in the collection, but the 2074-ETD tax return is mandatory in the year of departure and then annually thereafter.

Is my foreign income taxed in Mauritius?

According to the Mauritian tax authorities, a resident is taxed on Mauritian-source income and on foreign income remitted to Mauritius. Note: a private pension not taxed in Mauritius becomes taxable again in France (Article 18 § 3 of the treaty).