Since September 2020, Mauritius revised the Resident Permit conditions extending the validity from 10 to 20 years. Some eligibility criteria are, however, attached. For instance, an investor should achieve a minimum annual gross income of at least MUR 15 million among others.
For the independent category, one should generate an annual business income of at least MUR 3 million over a period of three years.
It is to be noted that the minimum property investment amount for an investor to obtain the status of Permanent Resident has also been reduced to USD 375,000 from USD 500, 000.
To encourage families to settle in the country, the work and residence permit ensures residency for spouses, children who are not older than 24 years old and parents of the investors, or independent professionals.
Following a government budget decision in 2020, the Work and Residence permit have been combined into one single permit. In September 2020, the permits were extended to 10 years instead of a three-year validity, providing you with the luxury of a stress-free longer stay.
Moreover, the minimum investment to obtain an occupation permit as an investor was revised to USD 50 000, instead of USD 100 000, allowing more foreigners the opportunity of investing and settling on the island.
When it comes to the renewal of the 10-year permit, investors are expected to earn a minimum annual gross income of MUR 4 million, while the self-employed need to provide for an annual business income of MUR 800,000.
The period of validity of a residence permit issued to non-citizen pensioners aged at least 50 has been extended from 3 to 10 years for a monthly subsistence transfer of only USD 1,500 over the permit duration.