Mauritius : New Criteria for issue of occupation permits and residence permits

Cabinet has taken note that the Vice-Prime Minister, Minister of Finance and Economic Empowerment would make regulations under the Investment Promotion Act to review the criteria for the issue of an occupation permit to investors, professionals and self-employed persons and a residence permit to retired non-citizens to reflect current conditions whilst remaining in line with Government’s objective to attract quality investment and talents and, at the same time, to deter abuse of the system by persons with no genuine intention to participate in the economic development of Mauritius. The new criteria would, inter alia, provide that -

(a) besides an annual turnover exceeding Rs 4m, the investor should make an initial investment of US$100,000 or its equivalent in freely convertible foreign currency;

(b) a professional should have a monthly salary exceeding Rs 75,000 to be able to register in Mauritius;

(c) a self-employed person should, besides an annual income of Rs 600,000, make an investment of US$35,000 or its equivalent in freely convertible foreign currency; and

(d) a retired non-citizen should make an initial transfer of at least US$40,000 or its equivalent in freely convertible foreign currency when first settling in Mauritius.