The recently adopted Finance Act offers a number of opportunities for expats to set up home on the island paradise of Mauritius. These opportunities arise from the changes made within the various Mauritius permits needed in order to relocate to the island of Mauritius. Move to Mauritius with Bolt Home Mauritius – let’s make Mauritius HOME!
Mauritius has always been a popular tourist destination and has, in recent years, become a land of expatriation for many foreigners. Most of them choose this Indian Ocean island for its white sandy beaches and crystal-clear waters! At the same time, it is a leading regional hub for finance and technology with many opportunities on the horizon. What’s needed in order to relocate to Mauritius?
Against this backdrop, the Government is promoting a policy of openness to foreign investors, talents, and retirees. Mauritius is regarded as a privileged destination for foreign nationals to invest, work and live. In the light of the recently adopted Finance Act, and the various measures by the Economic Development Board (EDB), the following permits and schemes can help foreigners who are considering moving to this tropical paradise and making it their home.
Mauritius Permits – how you can move to Mauritius
- Occupation Permit (OP):
- A holder of an OP or RP is also eligible to apply for a 20-year Residence Permit (RP) provided that specific conditions are met.
- The spouse of an OP holder may, on application, be granted an OP.
- Family Occupation Permit (FOP):
- The applicant, his spouse, dependent child, parent, other dependent or such other person working exclusively for the family unit, as may be approved, can become resident for a period of 10 years.
- The applicant or his spouse, can carry out any occupation in Mauritius for reward or profit or take up employment in Mauritius.
- The criteria is a contribution of USD 250,000 or its equivalent in freely convertible foreign currency to the COVID-19 Projects Development Fund.
- Young Professional Occupation Permit:
- Mauritius is opening the doors of the job market to foreign students who have studied in a tertiary education institution in the country.
- They are eligible for a maximum 3-year OP.
- Permanent Resident Permit (PRP):
- A PRP valid on 1st September 2020 shall be valid for a period of 20 years.
Live in Mauritius
- Premium Visa:
- It was introduced last year to any non-citizen who intends to stay in Mauritius for a maximum period of one year as a tourist, retiree or a professional willing to come with his/her family and carry out his business or work remotely from Mauritius.
- Certain clarifications have been brought to light on tax implications of income generated by non-citizens having a premium visa.
Move and Invest
- A project shall be considered under the Premium Investor Scheme if it entails a minimum investment of Rs 500 million rupees in emerging sectors and innovative technologies.
- To further open the Mauritian market to investors and foreign expertise, the Residency by Investment scheme for investors has been instituted, which requires an initial investment of USD 50,000 or its equivalent in freely convertible foreign currency.
- Moreover, under Residency by Innovation, for investors of innovative start-ups, a submission of an innovative project to the EDB is required; or they need to be registered with an incubator accredited with the MRIC.
- Under the Residency for Self Employed entrepreneurs scheme, for a self-employed person, an initial investment of USD 35,000 or its equivalent in freely convertible foreign currency is required at the time of OP issuance. Moreover, they should be engaged in the services sector only.
- Lastly, for professionals, the monthly basic salary of at least MUR Rs 30,000 is applicable for those working in the ICT, BPO, pharmaceutical, manufacturing and food processing, fund accounting and compliance services. The maximum validity of the OP for professionals is 10 years.
A Residence Permit for a Retired Non-Citizen requires an initial transfer of at least USD 1,500 or its equivalent in foreign currency at the time of RP issuance. With the Retired non-citizen +50 years and Senior Living Residence schemes, retiring in Mauritius may be a most attractive option indeed, provided you are aged 50 or above.
- Along with the Integrated Resort Scheme, Real Estate Scheme, Property Development Scheme, Smart City Scheme and Ground +2 Apartments, the Invest Hotel Scheme allows a non-citizen investor and individual guests to become owners of exclusive hotel units located in Mauritius. If the unit/room is acquired for a minimum amount of USD 375,000, the owner would be eligible for a Residence Permit.
Would you like to find out more about relocating to Mauritius?
Bolt Home Mauritius has created a Digital Needs Analysis which speeds up the initial process of understanding your relocation needs! Please follow the link below to complete this if you are interested in fast-tracking the process.
If you would prefer to book a call – book your consultation with the Bolt Home Mauritius concierge team whereby we will conduct a full needs analysis and answer all the questions you have about relocating to and living in Mauritius.
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