How to become a resident of Mauritius
Moving to Mauritius is a tempting idea, and not just for the beaches and the sun. In fact, Mauritius has an attractive tax system, with a single fixed tax rate of 15%, and a particularly favourable business climate.
To take advantage of these benefits, a foreign national can apply for a residence permit, which will allow him to settle and live in Mauritius. There are several ways for a foreigner to be eligible for such a permit, which is also valid for his spouse and children under the age of 24.
1. Invest in real estate
In order to obtain a Residence Permit, a foreign investor can purchase a property worth at least $375,000. This property must be part of a Property Development Scheme (PDS), which has replaced the IRS and RES programs. An investor who buys an apartment or villa in Mauritius as part of a PDS will be granted a Residence Permit as long as he owns the property.
A foreigner can also obtain an Occupation Permit, a document that combines work and residence permits. It therefore allows the beneficiary to work and reside in Mauritius under certain conditions.
The first way to get an Occupation Permit is to invest and create a company in Mauritius. You must invest at least $100,000 in a professional activity and report an annual turnover of at least Rs 2 million.
A foreigner may also apply for an Occupation Permit if he or she is a professional with a monthly salary of more than Rs 60,000. Expatriates who are employed by a company registered in Mauritius and who offer professional services are considered professionals.
Finally, a foreign entrepreneur working as an independent professional can benefit from an Occupation Permit after an initial investment of $35,000 and if he generates annual revenues of at least Rs 600,000.
3. Retire in Mauritius
Foreigners who wish to take advantage of their retirement to spend happy days under the Mauritian sun can also benefit from a Residence Permit under certain conditions.
They must be over 50 years old and benefit from an annual income superior to $30,000, which must be deposited into an account in a Mauritian bank.
To learn more about how to become a resident in Mauritius, visit the Economic Development Board website by clicking here