Mauritius Budget 2020/2021
Opening to the world: attracting investors and professionals to the island
The start of this year has presented countries around the globe with a challenge that has unforeseeable future consequences. The Government of Mauritius has successfully addressed and contained the COVID-19 pandemic on the island, nonetheless they are faced with the task of resuming and restoring economic activities in Mauritius. The Government outlaid the tools and resources towards a steady economic recovery in the 2020/21 Budget Speech that was presented to the Nation on the 4th of June 2020. The Government plans to rebuild the country’s economy to become prosperous and above all to become resilient.
The Government has adopted a proactive and supportive approach to further open up the Economy, secure investors and retain professionals and retirees while as well engaging in the development of the “national” human capital.
With the extension of the occupation permit from 3 to 10 years, removal of constraints and streamlining of procedures for acquiring occupation permit the government sends the right signal to the business community. Non-citizen investors, professionals and retirees need certainty for themselves and their families before opting for a place where they may be spending a significant part of their lives. Similarly, employers need visibility before engaging foreign professionals. Thus, the amendments to the occupation permit will further improve the image of Mauritius as an international hub for talents
The following Interesting and positive measures have been announced that enable foreign investors to live, invest and work in Mauritius (please download the EDB Budget Newsletter for further details):
Occupation Permit (OP)
Dependents of Occupation Permit Holders
Acquisition of Property/ Resident Permit
New Products Announced for the Financial Services Industry
Diversifying our Financial Services Sector
To further enhance competitiveness of the Financial Services Sector, the following new products will be introduced in line with the recommendations of the 10-Year Blueprint.
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