DOMAINE DE PLAISANCE
BECOME A RESIDENT OF MAURITIUS
Living in Mauritius is a tempting idea and not just for fun! Investing in Mauritius is attractive in terms of taxation but also in developing business. For a Frenchman, setting up and living in Mauritius is legally possible and in an official tax framework. Here are the requirements for obtaining resident status.
Conditions for obtaining resident status and settling in Mauritius
A “foreigner” can stay up to 6 months in Mauritius with a three-month classic tourist visa (renewable once). In order to benefit from the right to reside longer, or even permanently, in Mauritius it will be necessary to obtain the status of resident. A permit validating this status of resident in Mauritius is obtained provided that it is in one of the following cases:
The latter acquires a property in Mauritius,
He creates a company in Mauritius,
He decides to retire in Mauritius.
He invests in real estate and living in Mauritius
Becoming a resident of Mauritius
The first system is to acquire real estate under certain conditions, specific to foreign investors.
Real estate investment should be of a value higher than $ 375,000.
The investor will then qualify as part of the “PDS” program (Property Development Scheme) that replaces the old IRS or RES programs, some of which are still eligible. If these conditions are met, the investor buying an apartment or a villa in Mauritius will obtain his residence permit and will retain it as long as he remains the owner.
In case of purchase by several, in own name or via a company, only one investor can receive the residence permit attached to the real estate. This license also benefits the spouse of the investor and his /her children under 18 years of age.
Creating a company to become a resident in Mauritius
Creating a company in Mauritius is the second way to obtain a residence permit. The resident status will be acquired for an initial period of 3 years and will be renewed for a period of 10 years depending on the sector of activity.
The main conditions are as follows:
- Invest at least $ 100,000 in professional activity,
- Justify a minimum annual turnover of $ 130,000,
- This residence permit is valid for the investor, his spouse and their minor children.
Consult our guide before creating your company in Mauritius.
Retiring to Mauritius
Enjoying your retirement in Mauritius is a third alternative to Mauritian resident status. Less well known, this possibility can be very interesting, because it is enough to be 50 years to justify his status as a retired person in Mauritius. Obviously, it also means that you will not have a professional activity …
But you can still have dividends, for example. A minimum contribution of $ 40,000 per year should be justified. These funds will have to be charged to an account opened with a Mauritian bank. This resident permit is valid for a period of 3 years renewable at the end of this period for a permanent resident permit under condition of good morality.
If you want to settle partially or permanently on our island, one of the best ways is to invest in real estate.
Every European citizen has the right, with his passport and without a visa, to spend 3 consecutive months in Mauritius (it is even possible to apply for an extension of 3 months at the immigration office: Passport & Immigration Office, 9 and 11 Lislet Geoffroy Street in Port Louis – Tel: 210 93 12). Vous pouvez revenir plusieurs fois par an avec ce statut dès que votre séjour ne dépasse pas 3 mois et si vous restez moins de 6 moins par an sur l’île.
The government of Mauritius through its EDB has provided a Mauritian resident status for those wishing to come more than 3 months a year.
For pensioners, the most suitable is the Retired Resident Status granted for 3 years. To obtain it, you have to meet certain simple criteria such as having a bank account in a Mauritian bank, commit to bringing the equivalent of 40 000 USD (30 000 €) per year to the territory by bank transfer (The first year in advance and at one time), not to work and receive salary in a Mauritian company, and provide a bank guarantee of about 2 000 €. This status is renewable.
Investor: Commercial activity must generate annual sales of more than Rs 4 million for an initial investment of USD 100,000 or the equivalent in freely convertible foreign currency. If there are more than one investor applying for a work permit in the same company, the turnover criteria apply to each applicant (i.e. 8 million rupees for two applicants, 12 million rupees for three applicants and so on).
Employee: The basic monthly salary must be more than 45 000 rupees, and proof must be made that Mauritian profiles can not perform the function.
Entrepreneur: Business revenues must generate annual sales of more than 600,000 rupees, with an initial investment of $ 35,000 or the equivalent in freely convertible foreign currency.
Persons who are dependent on the holder of a work permit can also apply for a residence permit.
As you see, there are several ways to become a resident, and they fit your personal situation.