The Mauritius Residence by Investment Program allows foreign nationals to make a real estate investment in Mauritius and apply for a residence permit. Successful applicants and their families are granted full residence rights, including the right to live, work, and retire in Mauritius.
Possible participants should note the mandatory investment threshold of at least USD 375,000 in real estate holdings. The processing timeline commonly ranges from six to eight months, ensuring a fast integration for those eager to make Mauritius their abode. The main benefit, though, exists in the extensive abode rights, permitting participants to completely immerse themselves in Mauritian life.
Mauritius is an island nation located in the Indian Ocean, off the southeast coast of Africa. It’s a volcanic island with beautiful beaches and coral reefs around the coastline.
Here are some interesting facts about Mauritius:
- Population: About 1.2 million people live on the densely populated island.
- Languages: Most Mauritians speak both French and English fluently. While English is the official language, French and Creole are widely spoken, along with other languages.
- Culture: Mauritius is known for its diverse and peaceful society, where people of different ethnicities and cultures, including Hindus, Muslims, Creoles, Chinese, and Europeans, live together harmoniously.
- Tourism: Mauritius is a sought-after luxury travel destination, famous for its clear blue and green waters, white sandy beaches, and high-end resorts.
- Attractions: Some of the attractions include the Seven Coloured Earths, an underwater waterfall, Giant water lilies at Pamplemousses Botanical Garden, traditional ravanne drum and Sega music, and excellent golf courses.
- Currency: The currency used in Mauritius is the Mauritian rupee, with 1 rupee being divided into 100 cents
Registration in the programme provides an array of advantages beyond mere abode acquisition:
- Property investment presents rental income possibility.
- Comprehensive abode rights cover the whole family.
- Mauritius’ safe surroundings and tropical weather give peace of mind.
- Globally recognized educational organizations cater to families with children.
- A stable political, social, and financial landscape encourages security.
- Mauritius excels as a destination for ease of conducting business.
- The well-moderated international financial hub ensures strong financial views.
Real Estate Investment Choices
The Mauritius Abode by Investment Programme presents a spectrum of real estate ventures tailored to unique preferences:
- The Integrated Resort Scheme (IRS): encompassing a variety of residential options including villas, townhouses, penthouses, apartments, duplexes, and serviced plots of land exceeding 10 hectares.
- The Real Estate Scheme (RES): comprising smaller units compared to the IRS, constructed on freehold land not exceeding 10 hectares.
- The Ground +2 Apartment Scheme (G+2): applicable to apartment developments within condominiums featuring at least two levels above ground.
- The Property Development Scheme (PDS): focusing on integrated projects that deliver social benefits to the local community, adhering to stringent environmental regulations and emphasizing ecology.
- The Invest Hotel Scheme (IHS): enabling investors to put resources into new or existing hotel units, with the option to stay in these units for up to 45 days within a 12-month timeframe.
- The Smart City Scheme (SCS): aiming to establish environmentally sustainable living, working, and leisure spaces, designed to produce their own energy and water resources, provide advanced connectivity, create efficient modern transportation systems, and ultimately alleviate traffic congestion.
7. Various pathways to perpetual residence
The Mauritius Abode by Investment Programme proposes distinct avenues to get 20-year perpetual residency, providing for a spectrum of talents and dreams. Choices include:
- High-technology investors: foster technological progress through an initial investment of USD 50,000 in machinery and equipment, promoting innovation over a 10-year period.
- Innovative start-Up investors: drive innovation with a USD 40,000 investment, allocating 20% to research, or join an accredited incubator with 20% operational expenditure for 10 years.
- Professional investors: [professionals can attain residency with a monthly salary of approximately USD 1,400 (USD 700 in ICT), shaping the landscape for a decade.
- Self-employed Investors: boost local enterprises with an initial transfer of USD 35,000, creating a pathway to residency for 10 years.
- Retired Non-Citizen Investors: Individuals aged 50 and above can establish Mauritius as their sanctuary with a monthly transfer of USD 1,500 for a decade.
- General Investors: Contribute significantly to Mauritius’ economy by making a minimum investment of USD 500,000
Application process and due diligence
The application process requires specific steps, including forms, fees, and documents. Key documents contain the certificate of morality and medical certificate. Maintaining the real estate investment and transparently displaying the source of external funds highlight the integrity of the application. After initial due diligence, participants choose their favored property and submit their residency application to the Economic Development Board of Mauritius. Successful clearance results in the coveted Mauritian residence permit.
The programme provides for a broad range of dependents, ensuring inclusivity:
Qualified dependents contain spouses, parents, and single, financially dependent children, embracing a holistic family-focused approach to residency acquisition.