The Mauritius Residence by Investment Program

Mauritius is known for its pleasant tropical climate, multiculturalism, and spectacular living environments, but its dynamic economy, attractive tax regimes, and competitive business landscape have bolstered the country’s global stature and are attracting high-net-worth individuals and families from around the globe. For those who wish to reside in this island nation, the Mauritius Residence by Investment Program is the most efficient way to acquire such status. Under this program, individuals who invest into the nation’s real estate market can become Mauritian residents within six to eight months.

The Mauritius Residence by Investment Program is ranked 13th out of 26 programs on the 2023 Global Residence Program Index.

Requirements of residence by investment in Mauritius

The Mauritius Residence by Investment Program requires foreign investors to acquire luxury residential real estate with a minimum value of USD 375,000 in one of the following six real estate projects:

·         The Integrated Resort Scheme (IRS)

o   Villas, townhouses, penthouses, apartments, duplexes, and services plots of land exceeding 10 hectares

·         The Real Estate Scheme (RES):

o   Smaller than the IRS units and built on freehold land not exceeding 10 hectares

·         The Property Development Scheme (PDS):

o   Integrated projects of social benefit to the neighboring community, subject to strict controls regarding respect for the environment and focused on ecology

·         The Invest Hotel Scheme (IHS):

o   New or existing hotel units, where the investor can live for 45 days in any 12-month period

·         The Smart City Scheme (SCS):

o   Environmentally friendly living, working, or leisure spaces aimed at generating their own energy and water resources, providing state-of-the-art connectivity, creating smart modern transportation, and reducing traffic congestion

·         The Ground +2 Apartment Scheme (G+2):

o   Located in condominium developments of at least two levels above ground

Alternatively, applicants can select one of the following other qualifying options for 20-year permanent residence. These options are geared towards:

• General investors (shareholders or directors of a company in Mauritius): Initial transfer of USD 50,000 for a business activity that generates cumulative turnover, for a 10-year initial residence period
• High-technology investors (shareholders or directors of a company in Mauritius): Initial investment of USD 50,000 in high-tech machinery and equipment for a business activity that generates cumulative turnover, for a 10-year initial residence period
• Innovative start-up investors: Initial investment of USD 40,000 and a minimum expenditure of 20% on research and development, or register with a Mauritian-accredited incubator with a minimum operation expenditure of 20%, for a 10-year initial residence period
• Professional investors (expatriates employed in Mauritius by contract): Monthly basic salary with a minimum value of approximately USD 1,400 (approximately USD 700 in the ICT sector), for a 10-year initial residence period
• Self-employed investors (in the services sector and registered under the Business Registration Act 2002): Initial transfer of USD 35,000 to a local bank account in Mauritius, for a 10-year initial residence period
• Retired non-citizen investors (50 years or over): Initial transfer of at least USD 1,500 monthly to a local bank account in Mauritius, for a 10-year initial residence period (or USD 54,000 over the three-year residence period)

Procedures and time frame of the Mauritius Residence by Investment Program

Applications to the program must be made through the prescribed forms and must be accompanied by the appropriate fees. Supporting documents including a recent certificate of morality and a recent medical certificate from the applicant stating that they are free of contagious diseases are also applicable.

The real estate investment must be maintained for the duration of the residence permit and must be financed from outside funds transferred to Mauritius through a bank recognized by the Bank of Mauritius.

After initial due diligence checks have been conducted, the applicant may choose their preferred property. Once approval in principle has been granted and the applicant has fulfilled the investment, the application for residence can be submitted to the Economic Development Board of the Republic of Mauritius. Following successful due diligence checks, the applicant (and included family members) receives a Mauritian residence permit.

Dependents include spouses or partners, parents, and unmarried, financially dependent children (including stepchildren and adopted children) of any age who are not gainfully occupied.

Register an Offshore Company in Mauritius

Step 1: Engage a Licensed Management Company

To register an offshore company in Mauritius, it is mandatory to engage the services of a licensed management company. A licensed management company will assist you in navigating the registration process, ensure compliance with local regulations, and act as a liaison between your company and the Mauritian authorities.

Step 2: Choose a Company Name

The next step is to select a unique company name for your offshore company. The chosen name should comply with the regulations set by the Companies Act of Mauritius and should not be similar to any existing company names in the jurisdiction.

 Step 3: Determine the Company Structure

 Mauritius offers various company structures for offshore businesses, including Global Business Companies (GBC), which are commonly used for international business activities. Consider the type of GBC that best suits your needs, such as GBC1 or GBC2, based on factors like tax benefits, ownership flexibility, and reporting requirements.

 Step 4: Prepare the Required Documentation: To register an offshore company in Mauritius, you will need to gather and prepare the necessary documentation, including:

 a. Memorandum and Articles of Association: These documents outline the company's purpose, activities, and internal regulations.

 b. Director and Shareholder Details: Provide the names, addresses, and passport copies of all directors and shareholders of the company.

 c. Registered Office Address: Provide a registered office address in Mauritius where the company's official correspondence will be sent.

 d. Business Plan: Submit a detailed business plan that outlines your company's objectives, activities, and projected financials.

 Step 5: Submit the Application to the Registrar of Companies

Once the required documentation is prepared, your licensed management company will submit the application to the Registrar of Companies in Mauritius. The application should include the necessary forms, fees, and supporting documents.

 Step 6: Pay the Required Fees

 As part of the registration process, you will need to pay the applicable fees to the Registrar of Companies. The fees vary depending on the type of company and the services provided by your licensed management company.

 Step 7: Obtain the Certificate of Incorporation

 Upon successful completion of the registration process and payment of the fees, you will receive a Certificate of Incorporation from the Registrar of Companies in Mauritius. This certificate serves as legal proof of your offshore company's existence in Mauritius.

 Step 8: Fulfill Ongoing Compliance Requirements

 After registering your offshore company in Mauritius, it is important to fulfill the ongoing compliance requirements. This includes filing annual returns, maintaining proper accounting records, conducting annual general meetings, and adhering to any other obligations outlined by the Mauritian authorities.

 In Conclusion, registering an offshore company in Mauritius can provide entrepreneurs with significant advantages, including tax benefits, asset protection, and access to international markets. By following the step-by-step guide outlined above and working with a licensed management company, you can successfully navigate the process of registering an offshore company in Mauritius. It is crucial to seek advice from legal and tax professionals to ensure compliance with all applicable laws and regulations. With the right guidance, you can establish a thriving offshore company in Mauritius and leverage the benefits it offers.