The object of the Scheme is to attract investment by non-Mauritians by granting them the status of permanent resident in Mauritius. However, a minimum investment of USD 500,000 is required to be eligible for a Permanent Resident Status.
Where to invest the USD 500,000? The investor may invest the money:
1
in a special fund called the "Permanent Resident Investment Fund" earning annual interest after deducting a management fee of 10% payable to the Accountant-General. Unless re-invested in a 'qualified activity', the investment shall be locked in the Fund for a period of 10 years.*
2
in a 'Qualifying Business Activity'.
3
in securities quoted on the Official List of the Stock Exchange of Mauritius.
4
in an equity fund.
*An investor who invests in the Fund may transfer whole or part
of the balance standing to his credit in the Fund for onward
investment into a 'qualifying activity', in securities on the
Stock Exchange of Mauritius or in an equity fund, either in
his own name or as a promoter or director of a company.
What is a "Qualifying Business Activity"? Investors cannot invest in all types of businesses under the Scheme. Investors can only invest in the following 'qualifying business activities' authorized under the Scheme:
Manufacturing (EPZ)
Financial Services
Hotel, Tourism
Fishing & Marine Resources
Agro-based Industry
Freeport Operations
Information Technology
Concession Projects
Film Production
Operational Headquarters of Multinationals
Where an investor invests in a 'qualifying business', he shall make an application for an Investment Certificate (eg. Pioneer Status Enterprise, EPZ Certificate, ICT, etc.) to the Board of Investment.
Cessation of business or reduction of sum invested An investor, who within a period of 5 years of becoming
a permanent resident, ceases his business activities or reduces
the sum invested to below USD 500,000 shall be deprived of his
status of permanent resident.
Permanent Residence Status Upon a minimum investment of USD 500,000, the investor will
be eligible for Permanent Residence (PR) Status.
He will be exempt from work and residence permits. He can also apply for PR status for his:
spouse;
children, stepchild or his lawfully adopted child *
next-of-kin*
wholly dependent next-of-kin of an unmarried applicant, provided the number of dependents does not exceed 3.
Each of the above person shall separately fill an Application Form for PRS.
*A next-of-kin or child above the age of 18 shall also make a deposit of a minimum of USD 100,000 with the Accountant General in Mauritius via bank transfer of the funds. The deposit will not bear any interests.
Acquisition of immovable property Investor can acquire for residential purposes only:
•
a flat or portion of land or immovable property not exceeding 1.25 arpents;
•
should be at least 100 metres away from sea frontage.
Exemptions Every investor shall be:
1
exempt from the requirements of a work permit as long as he maintains his investment to a minimum of USD 500,000.
2
exempt from payment of duties and taxes on imports of household and personal effects imported solely for his personal use and his family;
exempt from seeking the authorization of the Prime Minister's Office for the acquisition of immovable property in Mauritius.
