19 Jul Mauritius, Above and Beyond a Travel Destination!
During the last decades, Mauritius has consolidated its position as one of the prominent nations in Africa and is now amongst the top 20 countries in the world for the ease of doing business. In the light of the unprecedented events regarding Covid-19, the country has also been able to defend itself against the invisible enemy with strict government protocols that were set in place to contain the deadly plague and is now gearing up for an economic recovery.
As Mauritius embarks on a new phase of deconfinement with the opening of its borders on 15 July 2021 as mentioned in the National Budget 2021 by the Honourable Dr R. Padayachy Minister of Finance, Economic Planning and Development, the need for attracting foreign talents and investors is more crucial than ever.
Mauritius having already claimed its title as one of the most magnificent islands in the world has recently introduced a Premium Travel Visa valid for a period of one year, having as aim to welcome esteemed travellers from 114 countries seeking to work remotely from a paradisiac destination.
The Premium Travel Visa which can be renewed, opens the door of opportunity for any non-citizens who intend to stay in Mauritius for a maximum period of one year as a professional or retiree willing to come and carry his business activities or work remotely from the island.
In order to qualify for this Visa, interested applicants should produce proof of their long stay plans as well as sufficient travel and health insurance for the initial period of stay while adhering to the following criteria:
- Do not enter the Mauritius Labour Market
- Main place of business and source of income and profits should be outside of Mauritius
- Have in possession documentary evidence to support application such as purpose of visit, accommodation etc
- Stick to basic immigration requirements
This Visa will target mainly:
- Tourists who plan to retire and migrate in Mauritius
- Investors & professionals willing to work in Mauritius
- Those having children pursuing their studies in Mauritius
A new heaven for the affluent on a land of opportunities!
To complement the above-mentioned initiatives, the government is also granting foreign investors and retirees with an alternative to live and work in Mauritius various avenues namely the Permanent Residence Permit, Occupational Work Permit, Young Professional Occupation Permit or through the Acquisition of a Residency by Retirement.
- Permanent Resident Permit (PRR)
This program aims at expatriates seeking to live and work in Mauritius and is open to investors, retirees, professionals, self-employed entrepreneurs and their family. It is a 20 years residency that may be obtained under various conditions and is renewable for another 20 years, given that the residency requirements have been fulfilled.
- How to qualify for a PRR?
Having held residency for at least 3 years of residency with the following criteria being satisfied:
Achieving an annual gross income of at least USD 350,000 for the 3 consecutive years preceding the application for the PRR application.
achieving an aggregate turnover of USD 105,000 for 3 consecutive years preceding the PRR application.
transferring at least USD 54,000 or its equivalent in freely convertible foreign currency during the 3 years preceding the residency application.
earning a monthly basic salary of at least USD 3,500 for 3 consecutive years preceding the permanent residency application.
Achieving an annual business revenue of at least USD 70,000 for 3 consecutive years, immediately preceding the Permanent residency application
2.0 Occupational Work Permit
Mauritius is also a hub for professionals wishing to explore the Mauritian market.
From dynamic sectors like technology and innovation, information and communication, healthcare and tourism to finance, trade, real estate, Mauritius is the place to be when it comes to acquiring and shaping skills necessary in the workplace.
2.1 How to qualify for the Occupational Work Permit?
- A professional may be eligible for a 10-year occupational work permit if the monthly basic salary is at least USD 1,400.
- In the sector of information and communication technologies (ICT), business process outsourcing (BPO), pharmaceutical manufacturing and food processing, the monthly basic salary should be at least USD 700.
- A short-term Occupation Permit not exceeding 9 months is also available for professionals not wishing to stay for too long in the country.
- Young Occupational Work Permit
In line with its growing development, Mauritius enables foreign students who have undertaken tertiary studies in Mauritius to work in the country. Depending of their contact of employment, students are eligible for a maximum 3-year Occupation Permit.
- To qualify for the Young Professional Occupational Work Permit,
foreigners must have at least completed an undergraduate degree in Mauritius in the following fields of study:
- Financial Services
- Information Technology
- Residence through Property Acquisition
Be cocooned by Mauritius’s wide variety of world class amenities for leisure, entertainment and wellness. A foreigner can acquire residential properties in the country and benefit from all the luxury that it has to offer.
- Criteria to acquire residence through property acquisition:
- The non-citizen and dependents are eligible for a residence permit when he/she has acquired the property at a minimum amount of USD 375,000.
- The owners may rent the property, become tax resident in Mauritius and face no restriction on the repatriation of funds or revenue raised from the sale or renting of the property.
4.2 The following persons may acquire a residential property from an IRS, RES or PDS company:
- A non-citizen of Mauritius
- A company registered as a foreign company under the Companies Act 2001
- A company incorporated under the Companies Act 2001
- A société, where its deed of formation is deposited with the Registrar of Companies (f)
- A trust, where the trusteeship services are provided by a qualified trustee (management company or such other person resident in Mauritius) licenced by the Financial Services Commission.
What can be acquired:
- Plots of lands in existing IRS
Non-citizens who have a residence permit under IRS will be exempted from an Occupation or Work permit to invest and work in Mauritius.
- A Safe Retreat for Senior Citizens
Blessed with a beautiful and perfect combination of warm weather, a harmonious environment and an ever-growing infrastructure, Mauritius is a remarkable place when it comes to planning for retirement.
- How to acquire residency by retirement?
- With just USD 1,500 monthly, a non-citizen can benefit from a 10-year residence permit
- A non-citizen can apply for a renewal, subject to a transfer of USD 1,500 per month or the aggregate of USD 18,000 per year during the 10 years’ validity.
- Non-citizens can also apply for a 20-year Permanent Residence Permit provided that they have held the residency for at least 3 years with a transfer of at least USD 54,000 or its equivalent in freely convertible foreign currency during the 3 years preceding the Permanent residency application.
Why choose Mauritius?
Mauritius being an amalgamate of political, economic and social stability is the ideal destination for doing business. With its wide network of Double Taxation Avoidance Agreements and Investment Promotion and Protection Agreements (IPPAs), the country offers investors a conducive environment which guarantees predictability, certainty and security. In addition to this, the new residency rules offer more flexibility than ever for expatriates, the country has become the ideal spot to live and work in a well cocooned environment. Besides, Mauritius also offers an exquisite lifestyle in a dynamic culture topped by diversity. The country has unceasingly shown its adaptability to a rapid changing global environment and will continue to strengthen its impact in the economic re-invention.
Foreign nationals wishing to live and work in Mauritius may explore the different avenues by contacting us for re-location services.