Living and Working in Mauritius
Lemuel offers a number of value-added services to our clients wishing to immigrate to Mauritius or to hold a second home. With the economic expansion of Mauritius and its pursuit to become a high-income economy, the Mauritian government is promoting openness to foreign investors, talents, know-how and retirees.
Recognised for its pleasant tropical climate and also known for its dynamic economy, attractive tax regimes, political and social stability, multiculturalism, competitive business environment, warm hospitality, exceptional living environment and its multiple investment opportunities.
Mauritius is classified as a privileged destination for foreign nationals to invest, work, live and retire.
To live and work in Mauritius requires an occupation or residence permit. There are several avenues in which a person (and his/her dependents) can be granted a permit to reside in Mauritius.
The Occupation Permit (OP) is a combined work and residence permit which allows foreign nationals to work and reside in Mauritius under 3 specific categories namely:
- Investor
- Professional
- Self-Employed
Foreign nationals, above the age of 50 years, may also choose to retire in Mauritius under a Residence Permit (RP).
An Occupation Permit (Investor and Self-employed) and a Retired Residence Permit shall be issued for a maximum period of ten years, renewable thereafter as per established criteria.
An Occupation Permit under the Professional category shall be issued for a maximum period of three years or as per the duration of the contract of employment, renewable thereafter as per established criteria.
Dependents of an OP or RP holders may also apply for residence permit for a duration not exceeding that of the main holder.
Property Investment (IRS, RES, PDS) with Residence Permit
A non-citizen of Mauritius has the opportunity to acquire high-end residential properties under the Integrated Resort Scheme (IRS) and the Real Estate Scheme (RES), PDS Scheme.
The non-citizen and dependents are eligible for a residence permit by virtue of the acquisition under the IRS, RES and PDS schemes when he has invested a minimum amount of USD 375,000. The owners may rent the property, become tax resident in Mauritius and face no restriction on the repatriation of funds or revenue raised from the sale or renting of the property.
An Investor is defined as a shareholder and director in a company incorporated in Mauritius under the Companies Act 2001. An investor is eligible to apply for an Investor OP under the following options:
Option 1:
An initial transfer of USD 50,000 or its equivalent in freely convertible currency in the bank account of the company under which the application will be made.
Option 2:
Net asset value of at least USD 50,000 or its equivalent in freely convertible foreign currency, for existing businesses and businesses inherited and a cumulative turnover of at least 12 million rupees during the 3 years preceding the application.
For renewal of an OP Investor, the company should generate a minimum gross income of 4 million rupees per year as from the third year of registration.
A company may have more than one investor as defined above. However, the initial investment and annual turnover will be a multiple of the number of Investors in the company.
Existing investor operating but not registered with the board of Investment having a net asset value of at least USD 50,000 or its equivalent in freely convertible foreign currency and a cumulative turnover of MUR 12 million during the preceding 3 years with a turnover of at least MUR 4 million per year.