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Mauritius is proud of its cultural diversity, which has aided the country’s development since it achieved independence from Britain on March 12, 1968. More than half a century later, Mauritius is still devoted to using its multicultural nature to improve the country’s and its approximately 1.3 million citizens’ prosperity.
Mauritius has long been renowned for its extraordinary beauty. Mauritius is surrounded by white sand beaches and feels like a tropical paradise. Beaches, lagoons, and reefs abound on this little island in the Indian Ocean.
The Mauritian government encourages skilled entrepreneurs, bright professionals, and their families to come to Mauritius to live and work.
Mauritius is 800 kilometres east of Madagascar and located on the African continent. The ‘Star and Key of the Indian Ocean” is another name for it. Mauritius is thus a popular tourist, relocating, living, working, and investment destination for international visitors.
Mauritius, with its optical illusion of an underwater waterfall, the various colours of the Chamarel plain soil (the “Seven Coloured Earth”), and the coral reefs that surround the island’s volcanic landscape, provides plenty of wonders for visitors and residents alike.
Since its independence in 1968, the country’s economy has advanced significantly and is now classified as an upper-middle-income economy. Mauritius’ economy is mostly centered on tourism, sugar, fish, the textile industry, and financial and information technology services.
Mauritius is one of Africa’s most business-friendly countries, having seen consistent economic growth for decades. It also has one of the highest GDPs in Africa.
The country’s dynamic economy, advantageous tax regimes, and competitive corporate landscape have enhanced the country’s worldwide status and are attracting high-net-worth individuals and families from around the world. Mauritius also offers a Residence-by-Investment Program for HNWIs, families, and retired non-citizens looking to come to the island.
On the Global Residence Programs Index, the Mauritius Residence by Investment Program is ranked 10th out of 24 programs.
A foreign individual must invest in one of four key real estate projects to qualify for the Mauritius Residence by Investment Program.
Property Development Scheme (PDS) Allows for the construction of a variety of dwellings for non-citizens to buy. A foreign investor who invests at least USD375,000 in qualifying business activity is eligible to apply for a permanent residence permit.
An Occupation Permit is an alternate residency by investment option into Mauritius for foreign citizens who do not have USD375,000 to invest. Those who want to work and live in Mauritius can apply for an Occupational Permit in one of three categories: Investor, Professional, or Self-Employed.
Foreign nationals engaged in Mauritius under a contract of employment and receiving a basic monthly income of at least MUR60,000 should apply for a Professional Occupation Permit (USD1,500). The basic monthly compensation for professionals in the ICT, BPO, pharmaceutical, and food processing sectors must be at least MUR 30,000. (USD750).
An initial ten-year residency permit can be applied for by a retired non-citizen. At the time of the issue of the permit, the applicant must make an initial transfer of at least USD 1,500, or its equivalent in freely convertible foreign currency, to his or her local bank account in Mauritius.
For a 20-year permanent residence, applicants can additionally choose one of the following other qualifying choices. These choices are aimed for:
An investment of at least USD 500,000 in a qualifying commercial activity or a permanent resident investment fund is needed of the applicant. Keep in mind that each dependent adult included in your application will require an interest-free deposit of USD 100,000.
The real estate investment must be maintained for the life of the residence permit and supported with funds transferred to Mauritius via a bank approved by the Bank of Mauritius.
The applicant may select their chosen property after initial due diligence checks have been completed. By depositing a minimum of USD 375,000.00 in the Economic Development Board (EDB) of Mauritius, an applicant can obtain a 20-year Residence Permit.
If you purchase a real estate property in Mauritius under purchase plans recognized and handled by the government’s EDB, you will be issued a permanent residency visa. The options for buying real estate in Mauritius for ex-pats or foreign residents are listed below.
Real estate holding period: Maintaining and renewing a residency permit is required.
Real estate investment (minimum): USD 375,000
Ownership frame: Ownership might be sole, corporate, or trust.
Rental income Potential: 3%
Never have getting citizenship and residency been so easy, right?. Wrong! Cause we got you covered with everything you need in order to achieving your dream