Foreign citizens interested in moving to Mauritius in order to obtain citizenship by investment can use a specific program. However, it is worth noting that it is not possible to obtain direct citizenship by investment, therefore, permanent residency must be secured first.
Below, our company formation specialists in Mauritius explain how to obtain permanent residency that ultimately leads to citizenship. We are at your service with tailored immigration and company registration services in the insular state.
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Programs leading to Mauritius citizenship by investment program
The residency by investment scheme in Mauritius is relatively new, its launch being announced in 2018. It has quickly entered the top 10 residency by investment programs in the world.
| Quick Facts | |
|---|---|
| Nationalities accepted (EU/Non-EU) | EU and non-EU citizens |
Business investment option (YES/NO) | NO |
Real estate investment option (YES/NO) | YES, recently introduced, minimum value 350,000 USD |
| Other investment options (if available) | YES, donation to the Sovereign Development Fund, minimum investment 500,000 USD |
| Living requirement in Mauritius (YES/NO) | YES |
| Residence or direct citizenship option | Residency |
| Direct immigration with family members (YES/NO) | YES |
| Family members allowed to join the program | Spouse, children, parents, parents-in-law, other financially dependent relatives |
| Residence visa/citizenship processing time (approx.) | 2 – 3 months |
| Additional financial requirements for family members (YES/NO) | YES, minimum 50,000 USD per dependent |
| Timeframe for obtaining citizenship/residency by investment | Immediate or after 2 years, depending on the investment |
| Dual citizenship permitted (YES/NO) | NO |
| Reasons to choose Mauritius | Several investment options, possibility of acquiring citizenship right after application, possibility of moving with extended family |
| Personal income tax rate | 10% for income of maximum 650,000 MUR, 15% for exceeding amounts |
| Visa free travel to other countries (approx. number of countries) | Approx. 150 countries |
The program is dedicated to persons interested in relocating to Mauritius based on a contribution to the economy against permanent residence and citizenship.
Apart from the financial conditions that must be met by applicants, these must also meet other requirements, as imposed by the government.
If you are interested in the 2024 residency by investment program that leads to citizenship, our immigration lawyers in Mauritius are at your service with detailed information about the legal requirements imposed by the country’s officials.
Because Mauritius has well-established banking laws, you can move and store your money there with a high level of security. Since this is an option for foreign investors and nationals, we can assist you in opening a bank account in Mauritius if you are a non-resident but want to enjoy specific banking benefits.
Mauritius’ investor programs
Until a few years ago, Mauritius was mainly sought for its offshore possibilities, however, the government wanted to make a switch from a financial sector-based economy to a trading one. This is why the country now offers around 20 programs for investors who want to make contributions to the economy and in exchange to obtain various benefits, among them living here is one of the most desired.
Business creation, real estate purchase, asset acquisitions are among the options one can explore as a foreign investor seeking to obtain a Mauritius passport by investment in 2024. You may concentrate on your main objectives while letting us handle the rest if you allow us to help you open a company in Mauritius in compliance with the Business Registration Act. Our main goal will be to understand precisely what is required, including the kind of firm, the kind of license, and all the legal requirements.
Mauritius is renowned for having a robust financial industry that allows international investors to establish different kinds of businesses. Additionally, they have the option to apply for Mauritius Forex licenses, which would enable them to trade on foreign markets in the best and safest conditions. For information on how to get it, please contact us.
Our lawyers can offer more information on these options. Furthermore, we can offer tailored support in choosing a program that suits your needs, considering each program has its own financial requirements.
Real estate purchase is one of the most important ways through which foreign citizens can apply for immigration to Mauritius. There are several schemes developed by the government which provides for the acquisition of various types of properties, including projects that are under development.
Financial requirements that can lead to Mauritius citizenship by investment
At the moment, foreign citizens can opt to apply for residency by investment which can be attained for a period of 20 years, or for citizenship in Mauritius. In 2020, the financial requisites of the program have been renewed and the goods news is that they have been decreased.
Foreigners who want to adhere to the Mauritius citizenship through the residency by investment program can choose between one of the following options:
- make a 1 million USD contribution to the Mauritius Sovereign Fund;
- make a 500,000 USD contribution to the Mauritius Sovereign Fund;
- an additional 100,000 USD contribution per dependent is also required when relocating with the spouse and minor children for the first option;
- for the second option, a contribution of 50,000 USD per dependent is required when moving here with the spouse and minor children.
The main difference between the two options resides in the fact that the 1 million USD investment will grant Mauritius citizenship, while in the second case, citizenship can be acquired after 2 years of living here.
The most important change in the program refers to the introduction of the possibility of acquiring a property in Mauritius. During the first stage, the value of the real estate was set at 500,000 USD, but starting with 2020, the minimum value was decreased at 350,000 USD.
So, if you are interested in moving to Mauritius under this program, you can take advantage of the new conditions and purchase a home in this dream destination.
You can also rely on our specialists if you want to open a company in Mauritius.
The main advantages of moving to Mauritius
Foreign citizens who decide to move here under the Mauritius residency by investment scheme will have various benefits, and one of the most important covers the fact that they are not required to give up their former passports.
The fact that citizenship can be obtained after 2 years of living here is also a major advantage of this program when compared to other similar schemes in Europe or in neighboring countries.
The country also has residency by investment schemes that were designed by the Mauritius government for investors interested in relocating here by starting their own businesses and obtaining occupational permits.
Our immigration lawyers in Mauritius are at the service of foreign investors interested in setting up offshore companies in Mauritius, as these are the most appealing types of entities under which they can operate their own enterprises.
Obtaining citizenship by investment in Mauritius through property purchase
Mauritius is not only a great business destination but also a dream country to live in, and the main way of obtaining that is by buying a property here. Luckily, foreign citizens and investors who want to immigrate to Mauritius and even obtain citizenship by living here for an established period of time to acquire a passport can purchase real estate. It is also worth noting that the government has in place not one, but several programs through which a foreigner can own a house or apartment.
If you are interested in Mauritius residency by investment that leads to citizenship, real estate acquisition can be a great option that will enable you to enjoy living in one of the most desired tourist destinations in the world.
The minimum amount to invest in order to obtain a residence permit by purchasing real estate is 375,000 USD, and the schemes that enable it are:
- the Integrated Resort Scheme;
- the Real Estate Scheme;
- the Property Development Scheme;
- the Smart City Scheme;
- the Invest Hotel Program.
Apart from these, the simple purchase of an apartment is also considered as an option of obtaining residency without entering a specific investment program.
Our local specialists are at your disposal with information about each scheme, especially since the latest changes in the Nationality Act were made in August 2021.
Special real estate schemes that enable obtaining indirect citizenship by investment
Real estate projects are very appealing investment options, as their value can increase in time, they can be used as vacation homes or as permanent dwelling places.
Foreign persons who want to apply for indirect Mauritius citizenship by investment in 2024 can use the schemes mentioned above to acquire properties.
When it comes to the Integrated Resort Scheme, a foreign citizen can buy properties that have already been built from an approved list of projects. Such properties are usually townhouses and villas. However, land can also be acquired under this program.
Under the Real Estate Scheme, the government has approved various projects that can be purchased. However, the amount established for entering this program is 500,000 USD, therefore a little higher than the Integrated Resort one. Our lawyers can provide more information on its conditions.
The Property Development Scheme was created for investors seeking to acquire residential property, but also leisure and resort-type real estate.
Those who do not want to live in Mauritius for extended periods can choose the Invest Hotel Program through which they can acquire a share or an apartment in a hotel in which they can spend up to 45 days. The main advantage of this scheme is that the owner will obtain income from the rental of the place for the rest of the year.
The Smart City Scheme, on the other hand, has led to the creation of special innovative zones in which foreign investors can acquire land of a maximum of 2,100 sqm where they can build houses.
Access to Mauritius citizenship through the Property Development Scheme
The purpose of the Property Development Scheme (PDS) is to make it easier for foreign investors to purchase residential property in Mauritius. It allows the construction of a variety of houses. The PDS is a socially integrated project that benefits the surrounding community by allowing the development and sale of upscale residential properties, primarily to foreign buyers.
Those who want to immigrate to Mauritius through this scheme, must enter one of the following categories:
- natural persons, regardless of whether they are citizens of Mauritius, foreigners, or members of the Mauritian Diaspora;
- companies that have been incorporated or registered under the Companies Act;
- limited partnerships under the Limited Partnerships Act;
- trusts, where a qualified trustee provides trusteeship services;
- foundations created under the Foundations Act.
Through the PDS scheme, properties may also be purchased by qualified worldwide businesses, as defined by the Financial Services Act, that operate under a global business license.
If you want to set up a company in Mauritius and need assistance, you can rely on our local specialists. We can also help you apply for a Mauritius Forex license in accordance with the Financial Services Law.
The Mauritius Integrated Resort Scheme
One of the programs under which Mauritius residency by investment followed by citizenship can be obtained is the Integrated Resort Scheme (IRS). The program is a joint effort of the Investment Board and the Government of Mauritius. The purpose of this initiative is to make it easier for foreign citizens to purchase residential and resort real estate on the island.
Prior to recent changes in the legislation, foreign nationals were not allowed to buy real estate in Mauritius. The IRS, which allows the construction and selling of luxury villas to foreigners in specific places, opened the market to foreign buyers on a limited basis. Once they purchase a luxury property on the island, overseas investors can apply to become residents of Mauritius through the IRS. The owner of the villa and his family are allowed to stay in Mauritius for as long as they hold the respective properties.
Foreign citizens are permitted to purchase residential homes in IRS projects, including:
- villas;
- townhouses;
- penthouses;
- apartments;
- duplexes;
- serviced land plots.
When a foreign investor acquires property worth at least USD 375,000, he/she, along with the family, becomes eligible for a Mauritius residence permit. The owner has the freedom to rent out the property, establish residency for tax purposes in Mauritius, and financially benefit from the sale or rental of the property without any limitations.
Those who hold an IRS resident permit are also exempt from applying for an occupation or work permit.
Feel free to address our Mauritius company formation agents if you want to know more about this option related to securing citizenship in the island country.
The occupation permit – another way to obtain citizenship in Mauritius
Company registration in Mauritius or an investment in an already-existing one, makes a foreign investor eligible for an Occupation Permit. For this purpose, the company must invest a minimum of USD 50,000. The other options are:
- investing in a start-up that the Economic Development Board of Mauritius deems creative;
- registering with an incubator recognized by the Research and Innovation Council.
We are also at your disposal with Mauritius bank account opening services for buying a property or starting a business.
Buying an apartment in Mauritius
Foreign citizens who want to move to Mauritius and obtain indirect citizenship by investment in 2024 can also buy apartments through which they will first qualify for residency. The main requirements they need to respect are:
- the apartment must have a minimum value of 375,000 USD;
- it must be located in a 3-storey building.
It is important to note that in this case, the owner will be a Mauritius resident for the time he/she owns the property.
If you want to obtain citizenship in Mauritius and need guidance, our local consultants can advise you. Every year, Mauritius tops the list of African nations, particularly in the categories of political stability, economic freedom, and good governance. It also ranks 13th globally in the World Bank’s “Ease of Doing Business” ranking. Mauritius is a natural and beneficial platform for businesses wishing to extend their activity on the continent because of its bilingual and skilled population.
Why is it worth considering Mauritius for relocation?
Mauritius is one of the most appealing destinations in terms of investments in the Indian Ocean. Furthermore, it is also one of the wealthiest countries in the North Africa region, as:
- the total wealth held by various persons here surpasses 44 million USD;
- moreover, the income per capita is 33,000 USD;
- starting with 2019, Mauritius has visa free access to nearly 150 countries around the world;
- it takes between 2 and 3 months for citizenship by investment applications to be processed.
Every year, Mauritius tops the list of African nations in several categories, including political stability, economic freedom, excellent governance, and ease of doing business (it is ranked 13th globally in this regard by the World Bank). International indexes place Mauritius at the top of Africa in many categories, indicating that it is a favorable and favored location for investments in Africa, particularly for South Africans. It is one of the reasons for which more than 20,000 businesses decided to locate in or relocate to Mauritius. Mauritius is an ideal and beneficial platform for businesses wishing to develop their operations on the continent, thanks to its workforce that is both qualified and bilingual.
If you are interested in indirect Mauritius citizenship by investment in 2024, please contact our local agents for support.
