Currency in Mauritius

Managing your money effectively while living and working abroad can be challenging, but there are several steps you can take to ensure that your finances are in order.

By following these tips and managing your money effectively, you can reduce financial stress and enjoy your experience living or doing business in Mauritius.

What is the cost of living in Mauritius?

There is no definitive answer to this question as it can vary greatly depending on an individual's lifestyle and budget. However, some estimates place the cost of living in Mauritius at around $1,500-$2,000 per month. This would cover basic expenses such as accommodation, food, transportation, and utilities.

How is the expat life in Mauritius?

The expat life in Mauritius is pleasant and relaxed. Many people who move here find that they quickly develop a strong network of friends, both locals and other expats. There is a strong sense of community and everyone is generally very friendly and welcoming. There are plenty of things to do and see, and the weather is ideal all year round.

Any laws in Mauritius that foreigners should be aware of?

There are no unusual laws that foreigners should be aware of in Mauritius. However, visitors should be cautious of pickpockets and scams in tourist areas.

What is doing business like in Mauritius?

There is no easy answer when it comes to doing business in Mauritius. The business environment is complex, and multi-faceted. There are a number of factors that need to be taken into account when doing business in Mauritius, including the political and economic stability of the country, the level of infrastructure development, the availability of skilled labor, and the overall business climate.

How is the economy in Mauritius?

The economy in Mauritius is doing well. The GDP growth rate is projected to be around 3.5% in 2019. The inflation rate is low and stable, and the unemployment rate is around 7%.

Managing your finances in Mauritius

Here we list some key points for expats and businesses to consider when managing financial dealings in Mauritius:

1. Understand Mauritian rupee currency exchange rates: Exchange rates can have a big impact on your finances, so it is important to keep an eye on the MUR exchange rate and consider using a currency exchange service or a credit card that does not charge foreign transaction fees to get the best exchange rate.

2. Use a local Mauritian rupee bank account: A local MUR bank account can make it easier for you to manage your finances and pay bills while you are in Mauritius. It may also be more convenient to use a local MUR bank account to make purchases and withdraw cash.

3. Research local laws and regulations: It is important to understand the local laws and regulations that apply to financial transactions in Mauritius. This can help you avoid legal issues and ensure that you are complying with local requirements.

4. Consider the tax implications: It is important to understand the tax implications of living or doing business in Mauritius. This can help you plan your finances and ensure that you are paying the correct amount of tax.

5. Seek financial advice: If you are unsure of how to manage your finances in Mauritius, it is a good idea to seek the advice of a financial professional who is familiar with the local financial system. This can help you make informed decisions and avoid financial pitfalls.