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 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.