Residency in Mauritius
With its tropical climate, favourable and secure living environment to grow your children or to enjoy your retirement, Mauritius is the ideal country to live, work and invest. Indeed, many foreign nationals have established their residency in Mauritius.
Residency in Mauritius through the acquisition of an immovable property
By investing at least USD 375,000 in a high-end residential property (under the Integrated Resort Scheme (IRS), Real Estate Scheme (RES), Property Development Scheme (PDS) or Smart City Schemes), you will obtain the Residence Permit. Your dependents (spouse, children and retired parents) will also receive a residence permit. It is important to note that the permit remains valid until you remain the owner of your property.
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The owners can choose to rent their property. In addition, they do not face any restriction on the repatriation of funds or revenue raised from the sale or renting of the property. Non-citizens who have a Residence Permit under IRS, RES, PDS or Smart City Schemes are exempt from an Occupation or Work Permit to invest and work in Mauritius.
Residency in Mauritius as a retired non-citizen
Non-Mauritian citizens, above the age of 50, may also decide to retire and establish their residency in Mauritius under a Residence Permit (RP). To obtain this permit, the retired non-citizen must undertake an initial transfer of at least USD 1,500 to his/her local bank account in Mauritius. Thereafter, the Retired Non-Citizen should transfer:
- at least USD 1,500 monthly; or
- a sum by instalments amounting to at least USD 18,000 annually.
The Residence Permit for retired non-citizens is valid for a period of 10 years, and allows its holder to invest in other ventures without any shareholding restriction. A retired non-citizen who has held a Residence Permit for three (3) consecutive years is eligible to apply for the 20-year Permanent Residence Permit (PRP).
The Occupation Permit
Whether you are a professional, a self-employed, an investor, a High-Net-Worth Individual (HNWI), you can establish your residency in Mauritius by applying for the Occupation Permit (OP).
- A self-employed is defined as a non-citizen engaged in a professional activity under the services sector only and registered with the Registrar of Businesses under the Business Registration Act 2002.
- Initial transfer of USD 35,000 to his/her local bank in Mauritius.
- For renewal, the business activity should generate a business income of 800,000 rupees per year as from the third year of registration
- Possibility to incorporate a one-man company and employ an administrative staff.
- Eligible to apply for the 20-year PRP if the applicant holds an OP for at least 3 years, with an annual business income of at least MUR 3 million for the 3 consecutive years, immediately preceding the application for the PRP.
- The monthly basic salary for a professional should be of, at least, MUR 60,000.
- Professionals engaged in the information and communication technologies (ICT), business process outsourcing (BPO), pharmaceutical manufacturing and food processing sectors should earn a monthly basic salary of at least MUR 30,000.
- Holders of an OP as Professional will be able to invest in other ventures without any shareholding restriction.
- OP valid for a period of 10 years, and renewable.
- Eligible to apply for the 20-year PRP if the applicant holds an OP for at least 3 years, with a basic monthly salary of at least MUR 150,000 for 3 consecutive years immediately preceding the application for the PRP.
Option 1 (Normal)
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)
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.
Option 3 (High Technology Machines & Equipment)
The application requires an initial investment of USD 50,000 (or its equivalent in freely convertible currency)., of which a minimum transfer of at least USD 25,000 from abroad to the bank account of the company in Mauritius. Of which, at least USD 25,000 must be transferred from abroad to a designated bank account in Mauritius, while the remaining amount must be invested in high-technology machines and equipment, subject to respecting certain requirements.
In order to renew an Option 1, 2 or 3 Investor category OP, companies must generate a minimum of MUR 4 million in gross income annually, as from the third year of registration.
Option 4 (Investor for innovative start-ups with no investment)
Foreigners can apply for an Innovator OP under 2 options:
- Submit a proposal for an innovative project to the Economic Development Board for consideration. All projects will be assessed on an individual basis; or
- The company must first register with an incubator accredited by the Mauritius Research and Innovation Council. This step must be completed before submitting the project to the EDB.
In addition, the company applying for the scheme must provide a comprehensive business plan that outlines all expenses associated with R&D activities. The total operational cost should comprise a minimum of 20% of R&D expenditure during the research phase. This scheme is applicable to companies engaging in research and development within qualified sectors.
An investor is eligible to apply for the 20-year PRP if the applicant holds an OP for at least 3 years, with a minimum annual gross income of at least MUR 15M for 3 years preceding the application or an aggregate turnover of MUR 45M for any consecutive period of 3 years preceding the application.
- No minimum investment and turnover requirement.
- R&D expenses should constitute of at least 20% of total operational expenditure during the research phase.
Spouse and dependents of OP holders
- OP holders will be allowed to bring their spouse, children, and retired parents as their dependents.
- OP or Work Permit not required for spouse of OP holders willing to invest or work in Mauritius.
Young Professional Occupation Permit (YPOP)
International students enrolled in a recognised tertiary institution will:
- automatically benefit from a 10-year renewable YPOP upon graduation; and
- be granted a 20 hours per week work permit.
An individual becomes resident in Mauritius if he or she is present in the country for:
- at least 183 days during an income tax year (ending on 30th June); or
- for 270 days in aggregate during a given tax year and the previous two tax years.
Citizens and non-citizens residing in Mauritius should submit their return of income and pay their taxes by 30 September following the income year for which the return is made. A resident of Mauritius is liable for personal income tax (rate of 15%) on their worldwide income. However, income arising outside Mauritius is taxed only if it is received in Mauritius.
Non-residents only pay tax on income derived in Mauritius. Every individual whose chargeable income and dividends, received from Mauritius resident companies and cooperative societies, exceed MUR 3 million (approximately USD 100,000) is liable to pay a 25% solidarity levy on the excess amount, in addition to the income tax of 15%.
Establishing your residency in Mauritius, the ideal jurisdiction to do business and live
Historically a trade platform between Asia, Africa and Europe, Mauritius is today an International Financial Centre of repute and substance. Mauritius ranks first in Africa on many international indices, of which:
- the ease of doing business (13th internationally on the World Bank’s ‘Ease of Doing Business’ ranking),
- good governance (the Mo Ibrahim Index of African Governance – IIAG),
- political and social stability,
- economic freedom, and
- ICT development, amongst many others.
Strategic located between Africa and Asia, the country is an attractive destination for international investors and provides the adequate ecosystem for investments on both continents. Investors from South Africa like to come invest in Mauritius and other countries in Africa, Asia and Europe. According to Statistics Mauritius, there are over 30,000 foreign workers inhabiting the island. This shows that the Mauritian jurisdiction is a trusted business hub with an ideal living environment. Mauritius also has other attractive features enticing foreign companies to set up their company in Mauritius. These include its robust and hybrid legal system (common law and civil law), its international arbitration centre, and its Double Taxation Avoidance Agreements (DTAAs) and Investment Promotion & Protection Agreements (IPPAs) with nearly 50 countries including South Africa and others.
The country offers investment opportunities in many sectors, including financial services, technology, Fintech and E-commerce. Many HNWI’s relocate to Mauritius to work and reside by making use of the many advantages the jurisdiction offers from wealth management, conducting business and high standard of living. Indeed, the cost of living in Mauritius is less expensive than in other countries that have a comparable quality of life, one of the factors that encourage foreign nationals to relocate to Mauritius. Mauritius has a comprehensive education system with English-speaking and French-speaking private institutions, accessible medical services through private hospitals, as well as supermarkets and delicatessens where foreigners can find a wide range of brands and products.
The Mauritian tax system is simple and competitive. Both corporate tax and personal income tax, as well as Value Added Tax (VAT), are capped at 15%. Furthermore, there are no capital gains tax, no tax on dividends paid by a Mauritian company no withholding tax on dividends paid, and no inheritance tax. Foreign companies and entrepreneurs are also encouraged to set up their company in Mauritius. In fact, there is no restriction on ownership of companies and Mauritius allows for 100% foreign shareholding.
How Sunibel can help you
Relocating to and establishing your residency in Mauritius can bring numerous advantages. Our experts accompany you and facilitate the relocation process for you.
Our services include:
- Application process for permits (investor, professional and retirement)
- Real estate assistance for relocation (renting and buying)
- Travel arrangements assistance
- Personal administrative assistance
- Concierge services
For more detailed information about the different types of permits, and how to establish your residency in Mauritius, feel free to contact us using the form below:
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Disclaimer and important notices
This document has been prepared using sources believed to be reliable. However, their accuracy and completeness cannot be fully guaranteed. The statements and opinions it incorporates were formed after careful consideration and maybe subject to change without notice. This document is not, and should not be construed as, an offer or the solicitation of an offer to sell any services. The use of any information contained in this document shall be at the sole discretion and risk of the user. Sunibel Corporate Services Ltd does not provide legal or tax advice and this document should not be construed as such. Sunibel Corporate Services Ltd expressly disclaims any and all liability for inaccuracies contained in the document and shall not be held liable for any damage that may result from any use of the information presented herein. For more information, please see our terms and conditions.,
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