Residency & Property
To live in Mauritius, what you need to know?
Non-citizens have the possibility to live and work in Mauritius by applying for an Occupation Permit ("OP") and those above the age of 50 can retire in Mauritius under a Residence Permit ("RP").
The OP allow non-citizens to work and reside in Mauritius under anyone of the following categories:
The business should generate a turnover of at least MUR 2 million for the first year and cumulative turnover of at least MUR 10 million for the subsequent two years with an initial investment of USD 100,000.
The income from the business activity should exceed MUR 600,000 annually for the first two years and MUR 1,2 million for the third year with an initial investment of USD 35,000.
The basic salary should exceed MUR 60,000 monthly. However, the basic salary for professionals in the ICT sector should exceed MUR 30,000 monthly.
The non-citizen will have to undertake to transfer to his/her local bank account in Mauritius at least USD 40,000 annually.
The Property Development Scheme ("PDS") including the Integrated Resort Scheme ("IRS") and the Real Estate Scheme ("RES") allows non-citizens to buy and develop luxurious properties in Mauritius.
The non-citizen and his/her dependents are eligible for a Residence Permit when he/she has invested a minimum amount of USD 500,000 under the IRS, RES or PDS schemes. The owners may rent the property, become tax resident in Mauritius and there are no restrictions on the repatriation of funds or revenue raised from the sale or renting of the property.
Acquisition of Apartments
Besides the Properties, any non-citizen, with or without an occupation permit, residence permit, permanent residence permit, may acquire apartments in condominium developments of at least two levels above ground at a price exceeding MUR 6,000,000.
Residency by Investment of USD 50,000
Mauritius offers a conducive business environment and a plethora of lifestyle advantages to the foreigner in quest of a stable jurisdiction to invest. Conscious of the worldwide economic and social conjuncture, important incentives pertaining to investment threshold and duration of the permit have been implemented to provide increased foresight, comfort, and convenience to the investor community.
Minimum investment: USD 50,000
Validity: 10 years, renewable
Applicable fee: USD 1,000 upon approval of application (*New fees as from 11 July 2022)
Renewing criteria: MUR 4 million as from 3rd year of registration
Premium Travel Visa
The country is now inviting visitors and businessmen to come live, work, invest or retire on the island with the newly implemented Premium Visa, to relocate to the Covid- 19 secure island. The country’s new Premium Visa is valid for one year, with an option to renew, and is open to those who want to relocate to allow them to work remotely, have a long-term second home on the island, or to retire here in 2023 and beyond. A premium visa is required for those who intend to stay in Mauritius for a period exceeding 180 days in a calendar year. For those staying for less than 180 days, a tourist visa is granted on arrival to Mauritius. Money spent in Mauritius through the use of foreign credit or debit cards would not be liable to tax.
The Premium Visa application will be approved within 48 hours.
Mauritian Diaspora Scheme
The Mauritian Diaspora Scheme is an initiative of the Government of Mauritius to attract members of the Mauritian Diaspora back to Mauritius to participate in the economic development of the country. A member of the Mauritian diaspora may apply for the scheme under one of the following categories: professional, self-employed and young professional, which best reflects the nature of this activities in Mauritius and meets the eligibility criteria defined.
Holders of a Certificate under the Scheme benefit from a package of incentives including income tax exemptions, exemption on excise duty, customs duty, VAT and Registration Duty.
Residency and Property falls under the purview of the Investment Office of the Economic Development Board of Mauritius ("EDB"). Ashton Financial Partners will assist in the application process by handling the administrative paperwork, liaison with the relevant authorities, ongoing administrative and back office support.