Mauritius is one of the most beautiful islands in the Indian Ocean. It gained independence from Britain on 12th March 1968. Since then, Mauritius pride has been its cultural diversity which plays a major role to the country's growth. With a population of almost 1.3m,Mauritius is a melting pot of cultures which contribute to the country's fortunes and those of its population. So, Mauritius remains strongly committed to exploiting its multicultural aspect.
Obviously, out of this population, there are expats and immigrants. The Mauritian government has implemented several measures including legal flexibility so that foreigners could obtain a Permanent Residence Permit in Mauritius.
Let's have a look of the ways in which one can obtain a Permanent Residence Permit in Mauritius.
Firstly, if you acquire a Mauritian real estate, a Permanent Residence Permit will be granted to you. The purchase plans have to be approved and managed by the EDB of Mauritius. Below are the different choices available to expats and foreigners:
- Property Development Scheme (PDS)
The PDS substituted the 2 programmes the EDB implemented previously; the Real Estate Schemes and the Integrated Resort Schemes. Under the PDS, a diversity of residences is available for sale to non mauritian citizens, mauritian citizens, and members of the Mauritian Diaspora community globally dispersed. Non citizens purchasing a property under the PDS valued starting as from USD375,000 are eligible to the residence permit. This applies not only to the non citizens but also to their dependents( spouse, parents and dependent children under the age of 24 years)
- Integrated Resort Schemes/Real Estate Schemes(IRS/RES)
Non Citizens can buy high-class residential property under the IRS and RES. Simultaneously, the non citizen and their dependents( spouse,parents and children under 24 years) benefit from the residence permit when acquiring a property for a minimum of USD375,000.
These schemes cover high-class properties, and the properties are valued at not less than USD375,000. Acquisitions under these plans are rentable. The property owners qualify for Mauritius tax resident status with no restriction on the repatriation of funds or revenue from the sale or rental of their property.
- Ground+2 Apartments Scheme
This programme enables non citizens to acquire apartment units in EDB approved condo developments with at least two above ground levels. The acquisitions should not be less than MUR6 million or its equivalent in any foreign currency. If you purchase a condo unit under this scheme, you will be eligible for a 10-year mauritian visa. The visa is renewable and valid as long as you remain owner of the residential unit.
Secondly, you can benefit from a 20 year Resident Permit through the Eonomic Development Board (EDB) of Mauritius by investing a minimum of USD375,000. The investment has to be related to the following business activities, which have been identified by the board:
- Tourism industry
- Leisure
- Fisheries and Marine resources
- Construction
- Infrastructrure
- Insurance
- Banking
- Education
- Information Technology
- Manufacturing
- Agro-based industry
- Cinema and Communication
- Financial Services
- Freeport
- Environment-friendly and green energy products
Thirdly, engaging in a mauritian occupation makes you eligible for the residency permit. Foreigners can obtain a combined occupation and residency permit as an enterprising investor,as a self employed individual or as a professional.
You can also gain residence permit if you are working as an employee in Mauritius. But for this, your monthly basic salary should not be less than MUR60000. However, if you are working in the Information and communications technologies(ICT), pharmaceutical manufacturing sector,business processing outsourcing (BPO) or food processing sector, the minimum requirement for the salary is MUR30,000.
Non citizens aspiring to pursue a career and live in Mauritius as self-employed individuals can only exert in Mauritius services sector. They have to complete registration formalities with the government agency concerned as a one person business activity. Also, they must deposit at least USD35,000 in any Mauritian bank and the annual income of their business should be at least MUR600,000 per year.
Fourthly, retiring in Mauritius is another way of obtaining residency permit. For this,in order to be eligible, retirees should be at least 50 years old . They will also have to deposit at least USD1500 to any local Mauritian bank. The validity of the residence permit is 10 years and during their stay, they have to transfer at least USD18,000 per year.
However, employment of the foreign retirees in mauritius is not allowed by the government. On the other hand, the retirees have the possibility to apply for a Permanent Residence Permit after living for three years in mauritius.
® Fatismet Properties Co Ltd