Residency | Mauritius
Overview
Mauritius is an island nation in the Indian Ocean that is attracting considerable foreign investment. Having experienced steady economic growth for decades, Mauritius is one of the most business-friendly countries in Africa. Residence brings many benefits including lifestyle advantages, with additional benefits for Southern African Development Community citizens.
Investment: Minimum real estate investment of USD 375,000
Processing time: Six–eight months
Key benefit: The right to live, work, and retire in Mauritius
Benefits of Mauritius Residency by Investment:
—–Opportunity to rent out the investment property
—–Safe, secure environment with tropical climate year-round
—–Among the top 20 countries in the world for ease of doing business
—–Sophisticated, transparent, and well-regulated international financial center
Procedures and time frame of residence by investment in Mauritius
Applications to the program must be made through the prescribed forms and must be accompanied by the appropriate fees. Supporting documents including a recent certificate of morality and a recent medical certificate from the applicant stating that they are free of contagious diseases are also applicable.
The real estate investment must be maintained for the duration of the residence permit and must be financed from outside funds transferred to Mauritius through a bank recognized by the Bank of Mauritius.
After initial due diligence checks have been conducted, the applicant may choose their preferred property. Once approval in principle has been granted and the applicant has fulfilled the investment, the application for residence can be submitted to the Economic Development Board of the Republic of Mauritius. Following successful due diligence checks, the applicant (and included family members) receives a Mauritian residence permit.
Dependents include spouses or partners, parents, and unmarried, financially dependent children (including stepchildren and adopted children) of any age who are not gainfully occupied.
Requirements of the Mauritius Permanent Residence Programme
The Mauritius Residence by Investment Program requires foreign investors to acquire luxury residential real estate with a minimum value of USD 375,000 in one of the following six real estate projects:
- The Integrated Resort Scheme (IRS)
Villas, townhouses, penthouses, apartments, duplexes, and services plots of land exceeding 10 hectares - The Real Estate Scheme (RES):
Smaller than the IRS units and built on freehold land not exceeding 10 hectares - The Property Development Scheme (PDS):
Integrated projects of social benefit to the neighboring community, subject to strict controls regarding respect for the environment and focused on ecology - The Invest Hotel Scheme (IHS):
New or existing hotel units, where the investor can live for 45 days in any 12-month period - The Smart City Scheme (SCS):
Environmentally friendly living, working, or leisure spaces aimed at generating their own energy and water resources, providing state-of-the-art connectivity, creating smart modern transportation, and reducing traffic congestion - The Ground +2 Apartment Scheme (G+2):
Located in condominium developments of at least two levels above ground
Alternatively, applicants can select one of the following other qualifying options for 20-year permanent residence. These options are geared towards:
- General investors (shareholders or directors of a company in Mauritius): Initial transfer of USD 50,000 for a business activity that generates cumulative turnover, for a 10-year initial residence period
- High-technology investors (shareholders or directors of a company in Mauritius): Initial investment of USD 50,000 in high-tech machinery and equipment for a business activity that generates cumulative turnover, for a 10-year initial residence period
- Innovative start-up investors: Initial investment of USD 40,000 and a minimum expenditure of 20% on research and development, or register with a Mauritian-accredited incubator with a minimum operation expenditure of 20%, for a 10-year initial residence period
- Professional investors (expatriates employed in Mauritius by contract): Monthly basic salary with a minimum value of approximately USD 1,400 (approximately USD 700 in the ICT sector), for a 10-year initial residence period
- Self-employed investors (in the services sector and registered under the Business Registration Act 2002): Initial transfer of USD 35,000 to a local bank account in Mauritius, for a 10-year initial residence period
- Retired non-citizen investors (50 years or over): Initial transfer of at least USD 1,500 monthly to a local bank account in Mauritius, for a 10-year initial residence period (or USD 54,000 over the three-year residence period)