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Mauritius citizenship by investment

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Introduction

Mauritius is seeing a surge in investment from overseas. The fact that you can acquire Mauritius citizenship by investment makes the island more attractive to foreigners. It is also among the most business-friendly nations in Africa and has seen decades of consistent economic expansion. Residence offers numerous advantages, including lifestyle perks, with additional privileges for members of the Southern African Development Community.

Perhaps you’re asking yourself the following questions:

  • Where can I start to become a Mauritian citizen through investment?
  • What Investment options do I have?
  • What are the requirements?
  • What does the process entail?

We’ll try to answer these questions as comprehensively as we can. Let’s start by elaborating on what the investment program is all about.

What is Residency and Mauritius citizenship by Investment?

Mauritius’ government adopted the terms of Budget Bill No. XIII in July 2021. These modifications include updates to the Nationality Act of 1970 that address the conditions for awarding investors and their families residence permits.

The residency program of Mauritius permits foreign nationals to make real estate investments and vie for a residence visa. 

The Mauritius Immigrant Investor Program is the best option for prospective residents who seek to become permanent residents of the country. It allows foreign citizens to invest in real estate and qualify for a residence visa. Successful candidates and their families are accorded exclusive resident rights, including the ability to live, study, work, and retire in Mauritius.

The government provides several attractive investment opportunities to entice the well-to-do to move to and invest in Mauritius. Such schemes grants investors a temporary 3-year visa, but staying in the country might lead to permanent residency and citizenship.

Mauritius citizenship and Residence by Investment Program Benefits

Several benefits come with investing in Mauritius. These include the following:

  • Possibility of earning rental income from the investment property
  • Residence suitable for the entire family (including common-law partner or spouse, unmarried financially reliant children of any age, and parents or guardians of the permit holder)
  • Possibility of Mauritius citizenship by investment
  • A safe, stable environment with a year-round tropical climate.
  • International educational institutions
  • Political, cultural, social, and economic stability
  • Among the top 20 nations for ease of conducting business globally.
  • The financial hub of the world; sophisticated, open, and strictly controlled

Mauritius citizenship by different investment programs

The Investment Opportunities Available

The Mauritius Residence by Investment Program necessitates an investment in one of four major real estate projects. Read on to see the requirements!

i. Plan for Integrated Resorts (IRS)

The government requires you to own a luxury residential property having a minimum value of USD 375,000 and a lot size of more than 10 hectares.

ii. The Real Estate Scheme (RES):

The requirement includes owning a luxury residential estate with a minimum worth of USD 375,000, smaller than IRS units, and constructed on freehold land no larger than 10 hectares.

iii. The Property Development Scheme (PDS):

For this community-benefiting integrated project, you’ll require a luxury residential estate with a minimum value of $375,000. The projects observe strict environmental protection rules and must emphasize ecology.

iv. Smart City Initiative (SCS):

A minimum value of USD 375,000 for luxury residential property is mandatory. SCS projects must be ecologically sustainable living, working, or recreational environments that generate water and energy resources, provide cutting-edge connections, develop intelligent modern transportation, and reduce traffic congestion.

Other investment options

Alternatively, you can choose one of the alternatives listed below for 20-year permanent resident status. These options are designed for:

i. Public investments (shareholders or directors of a Mauritius-based company):

An initial transfer of USD 50,000 for a commercial activity creates cumulative revenue for a 10-year initial residency period.

ii. High-tech investors (shareholders or directors of a Mauritius-based company):

The upfront outlay of USD 50,000 in high-tech equipment and machinery for a business activity generates a cumulative turnover for an initial residence duration of 10 years.

iii. Innovative start-up investors:

Capitalization of USD 40,000 and a minimum spending of 20% on development and research or register with a Mauritian- accredited incubator with a minimum spending of 20% on operations for an initial residence duration of 10 years.

iv. Professional investors (ex-pats employed on a contract basis in Mauritius): 

Minimum monthly basic wage of about USD 1,400 (approximately USD 700 in the ICT industry) for an initial residence duration of 10 years.

v. Self-employed service-sector investors (registered under the Business Registration Act of 2002):

Initial payment of USD 35,000 to a Mauritius bank account for a 10-year initial residence period

vi. Retired non-citizen investors (at least 50 years old): 

It requires initial transfer of at least $1,500 per month to a local bank account in Mauritius for ten years (or USD 54,000 over the three-year residence period).

Where to Start and What the Process Entails

You must submit applications for the program on the specified forms and accompanied by the required fees. Applicable supporting documents include a current certificate of morality and a current medical report from the applicant showing you are clear of infectious diseases.

Download the Application for a Certificate ​of Naturalization

You also need to maintain the real estate investment during the lifespan of the residence permit, and you should finance it with monies from outside Mauritius transferred through a bank approved by the Bank of Mauritius.

After conducting preliminary due diligence checks, you may select your chosen property. It means submitting a request for residency to the Economic Development Board of the Republic of Mauritius.

However, you do this after the necessary authorities authorize your preliminary approval and confirm that you’ve met the stipulated requirements. 

Following satisfactory due diligence procedures, you (together with any family members) will get the Mauritius residency visa. Dependents comprise spouses or partners, guardians, and unmarried, financially dependent, non-working children of any age (including stepkids and adopted children).

The path toward Mauritius citizenship by investment

Qualifying for permanent residency through the said investments is a crucial step towards becoming a Mauritian citizen. Your permit remains active for 20 years as long as you uphold your investment.

During this time, an investor can apply for Mauritius citizenship after seven years of continuous stay in the country. You must also reside in the country continuously for 12 months before applying for citizenship.

It means that while you might be going for short-term vacations during your seven years stay, the last 12 months requires your absolute physical presence.

If you are a commonwealth citizen, your case is even better. You only need five years of uninterrupted stay in Mauritius to apply for citizenship. However, the requirement for a permanent stay during the last 12 months is also a requirement here.

Also, if you can increase your investment to USD 500,000, becoming a Mauritian citizen by investment becomes easier and faster. You must reside in the country for two consecutive years without leaving, and your naturalization process can begin.

Another general requirement for all investors is knowledge of any local language, English or French. The process might take about one year before the applicant gets approval for Mauritius citizenship through investment.

Bottom Line

There you have it! How to start your life in Mauritius as a foreign investor? Mauritius citizenship comes with numerous benefits. The only way of knowing whether this move is right for you is by trying. Get started today!

Investment programs options summary

What investment programs are available to obtain Mauritian citizenship?

  1. Plan for Integrated Resorts (1RS)
  2. The Real Estate Scheme (RES):
  3. The Property Development Scheme (PDS):
  4. Smart City Initiative (SCS):
  5. Public investments
  6. High-tech investors
  7. Innovative start-up investors
  8. Professional investors
  9. Self-employed service-sector investors
  10. Retired non-citizen investors
Steven Author of gostartbusiness

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