Mauritius is well-known to be the ideal destination for vacation and an important spot offering multiple investment opportunities. Putting the landscapes and turquoise lagoon aside, Mauritius encourages people from all over the world to settle down with special social measures, whether you want to work or simply live the tropical lifestyle. Following the crisis of the COVID 19 pandemic, you might have a few doubts with regards to the island’s economy. Since the occurring of this event, Mauritius has worked on a set of measures in order to focus on the stability and development of the local and foreign economic growth. Here are the social measures of the Mauritius National Budget that you should know for a well-prepared settlement.
- For an investor, the minimum investment amount in order to get the status of Permanent Resident will be of USD 375,000. This also applies to holders of immovable properties under an already existing scheme.
- To attract more foreign talents, all non-citizens holders of a Residence Permit, Permanent Residence or Occupational Permit will be entitled one plot of serviced land which should not exceed 2,100 m2, and this for residential purposes within Mauritius smart cities.
- The minimum monthly salary criteria in order to get an occupation permit will be of Rs 30,000.
- The existing licensing process shall be restructured by the Economic Development Board after consulting the Public Sector. A Business Obstacles Alert Mechanism should then be created in order to analyse the constraints present in the permits and licenses issuing process.
- The validity of the Occupation Permit as well as the Residential Permit for retirees shall be level up to 10 years.
- The minimum investment amount in order to get an Occupation Permit will now be at USD 50,000 instead of 100,000.
- The Innovator Occupation Permit minimum turnover and required investment amount will be removed.
- When holding an Occupation Permit or being a foreign retiree with a Residential Permit, you have the right to invest in other enterprises and that, without any shareholding restriction applied.
- Non-citizens who hold a residence permit under the real estate schemes no longer have to obtain an Occupation or Work permit.
- Validities of Occupation Permit and Residence Permit for retirees have been extended to 10 years and shall be renewable.
- Foreigners looking for an Investor’s Permit will have to invest a minimum of USD 50,000
Dependants of Occupation Permit holders
- If you are an OP holder, you shall be given the right to bring your parents in order to live in Mauritius.
- If you are a spouse in detention of an Occupation Permit, a permit for investment of work will not be required.
- From now on, the Work Permit and the Residence Permit will merge into one permit instead of two.
Permanent Residence Permit:
- Validity of Permanent Residence Permit has been extended to 20 years with an existing turnover and the salary criteria waived.
- When holding an Occupation or Residence Permit for three years in a row, you will then be able to apply for a Permanent Residence Permit.
- A minimum investment of USD 375,000 will be required
Acquisition of Property:
- To attract more foreign talents, all non-citizens holders of a Residence Permit, Permanent Residence or Occupational Permit will be entitled one plot of serviced land which should not exceed 2,100 m2, and this for residential purposes within Mauritius smart cities. This measure will end on 30th June 2022.
Looking for more reasons to move to Mauritius? Learn more about the advantages of investing in Mauritius.