Buying a house on the island

[Post under review]

Tash, the minimum amount for expat property to qualify for a Residence Permit / Occupation Permit was reduced from USD 500 000 to USD 375 000 in June 2020 during Mauritius’ very forward-thinking COVID budget.

This USD 375 000 minimum (= 15 Million Rupees) is applicable to all the following property schemes:

G+2  (apartment in a block of ground + 2 floors)
SCS smart city scheme - buy upto 2100 sq m of land
PDS property development scheme
RES real estate scheme
IRS integrated resort scheme
IHS integrated hotel scheme


besides buying a property, the EDB also allows other ways to “earn” a Residence Permit / Occupation Permit:


1) Investor:   
invest the amount of USD 50 000  (=MUR 2 Million)  in cash or plant & equipment (reduced from USD 100 000) in a new or established business in Mauritius
This investment remains under your control, invested in your business, with only $500 (MUR 20 000) as the processing fees for the OP.
- the company should generate a minimum gross income of MUR 4 million per year as from the third year of initially obtaining the Investor Permit.
If you have an OP, you can bring your parents and spouse into Mauritius as dependents without having to obtain work permits for them


2) Professional:
Expats who have been offered employment from a local company may apply for this permit. The Professional Occupation Permit is by far the most predominant entry permit for foreign nationals.
A Professional, as defined under the Immigration Act, an expatriate employed by a company incorporated in Mauritius to deliver professional services.
A Professional should earn a basic monthly salary of at least MUR 60,000.
For Professionals in the Information and Communication Technologies (ICT), Business Process Outsourcing (BPO), Pharmaceutical Manufacturing and Food Processing sectors, the basic salary should be at least MUR 30,000.


3) Self Employed  / Independant Contractor:
A Self-Employed individual is defined as a non-citizen engaged in a professional activity registered with the Registrar of Businesses under the Business Registration Act 2002. A Self-Employed individual operates a one-person business, working exclusively for his/her own account. The initial application for the Self- Employed Permit is for a period of 10 years.
A Self-Employed individual should make an initial transfer of USD 35,000   (=MUR 1.4 Million)  or its equivalent in freely convertible foreign currency from his/her personal bank account in their country of residence at time of application to his/her personal bank account in Mauritius.
For renewal purposes, the business activity should generate a business income of MUR 800,000 per year as from the third year of registration.


4) Retired non-citizen:   
if the main applicant is over 50 years old, you just have to bring an amount of USD 1500 (=MUR 60 000) into the country to sustain your household. This can be for example a pension or interest/dividends paid monthly into your Mauritian bank account, or a lump sum of USD 18 000  (=MUR 720 000) for a year, or a lump sum of USD 54 000  (=MUR 2.16 Million) for 3 years.
Retired non-citizens are not permitted to Work in Mauritius.


5) YPOP (Young Professional Occupation Permit): Foreign students having completed at least an undergraduate degree in a tertiary education institution in Mauritius are eligible to apply.


6) lastly the Mauritius Premium Travel Visa
this new visa type was introduced in Nov 2020, is issued Free of Charge, and is valid for 1 Year at a time (renewable)
To qualify for the Premium Visa, interested visitors should produce proof of their long stay plans and sufficient travel and health insurance for the initial period of stay while meeting the following criteria:
the applicants should not enter the Mauritius Labour market;
the main place of business and source of income and profits should be outside Mauritius;
documentary evidence to support application such as purpose of visit, accommodation etc.; and
other basic immigration requirements.
To any non-citizen who intends to stay in Mauritius for a maximum period of one year as a tourist, retiree or a professional willing to come with his/her family and carry out his business or work remotely from Mauritius (e.g. digital nomads / “location-independant entrepreneurs”)


further reading:

https://www.iol.co.za/personal-finance/ … d46135ced5https://businesstech.co.za/news/wealth/ … -benefits/https://www.mauritiusrelocation.com/occupation-permit/https://www.edbmauritius.org/premium-visa

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below is a summary of the June 2020 changes:



2020 Immigration Changes

Some of the important changes to the immigration rules

The Work Permit and Residence Permit will be combined into one single permit.

The validity of an Occupation Permit (OP) and a Residence Permit for retirees extended to 10 years renewable.

The minimum investment amount for obtaining an Occupation Permit (OP)  will be reduced from USD 100,000 to USD 50,000.

The minimum turnover and investment requirement for Innovator Occupation Permit are being removed.

The spouse of an OP holder will not need a permit to invest or work in Mauritius.

OP holders will also be allowed to bring their parents to live in Mauritius.

The EDB will be the only agency responsible to determine and recommend applications for the OP.

Professionals with an OP and foreign retirees with a Residence Permit will be able to invest in other ventures without any shareholding restriction.

Non-citizens who have a residence permit under the various real estate schemes will no longer require an Occupation or Work Permit to invest and work in Mauritius.

The Permanent Residence Permit will be extended from 10 to 20 years.

OP and Residence Permit holders will be eligible to apply for a Permanent Residence Permit if they have held the permit for three consecutive years.

It is possible to acquire fast track Mauritius citizenship for investors  in just 2 years after investing the specified amount in real estate or business activities.

Mauritian citizens have visa free access to 145 countries, as of 2019.

These countries include EU schengen area, China, Russia and United Kingdom.


source:
https://best-citizenships.com/2020/07/0 … to-350000/

Thank you, yet again!  Very helpfull.

I will be applying for the Premium Travel visa.  I see this is for a year at a time.  As our move is to primarliy educate our daughter for high school we will need to be on the island for 5 possible 6 years.  I presume one would then be allowed to simply renew this visa?  It is new I understand so we may not yet know all the answers.

During this period, should the island be the right move for us, then we would invest in property for the long term.

Natasha

correct, the Premium visa is renewable each year, but if you know it is going to be 5 or 6 years then I would suggest rather going fo a Residence Permit from the beginning, which can be converted to a PRP (Permanent Residence Permit) after 3 years - also for the benefit of Mauritius low 15% personal and company tax

many of the questions asked are answered in this video - Rolfe is a good channel to follow for info about Mauritius

https://youtu.be/JLrSSP1qxh8

Thank you will have a look at it today.

Hi Natasha,

Just wanted to add something to the previous comments (all good, actually).

Buying a flat/house eligible for a Residence Permit works out really well in reality.
I do not know if you have visited the island before, but personally, I like your idea of coming using a Premium Travel Visa at first. This way you could see the properties, the surroundings, the community with your own eyes and pick the place suiting your family the best.  This is also a better move with regards to your plans for high school education for your daughter. You may choose the educational venue and the property to buy in the convenient driving distance (a point to consider seriously in Mauritius, especially with the 5-6 year outlook).

Anyway, good luck, and hope you will find the best solution for you!

Alexandra

Hi Alexandra

Thank you, yes been on the island several times over the years.   Yes, agree 100% hence we will rent certianly for the 1st year.  Our daughter is now booked into the Westcoast high school so we will certainly be living in this region.  Good to know buying the way forward for long term.  Natasha

Hey Natasha, what r your plans,  when r u winding up from Maun? I'm in Gabz, in touch with an excellent consultant but waiting for things to stabilize