INVESTING IN REAL ESTATE IN MAURITIUS, A PRIVILEGED DESTINATION FOR LIVING YEAR-ROUND AND SPENDING HOLIDAYS
Mauritius is a privileged country through its vast history and the diversity of its cultural traditions but it is especially attractive and favorable for business.
Life in Mauritius is paradisiac and it makes many foreigners dream. These foreigners are attracted by the climate, the beautiful scenery, the tranquility and the cost of living. Every year, Mauritius attracts many foreign nationals who choose to come and settle there.
The country has experienced notable economic success through partnerships between foreign investors and local contractors. It offers many advantages to any expatriate wishing to work or retire.
There are several ways to live in Mauritius; exert a professional activity or enjoy retirement. For a foreigner who wants a higher standing of living or who settles in family, he needs at least 2,500 Euros per month. This budget takes into consideration the car, children schooling and leisure.
Foreign nationals who wish to work or live their retirement in Mauritius must have a work permit and a residence permit. These permits are obtained from local authorities.
INDEPENDENT CONTRACTOR
An independent contractor is an expatriate who is self-employed without setting up a business or hiring staff. The professional activity is registered from the Registrar of Companies.
The independent contractor must make an initial transfer of 35,000 US Dollars. The professional activity must generate an annual income exceeding 600.000 Rupees.
INVESTOR
The investor is a shareholder and director of a company incorporated in Mauritius under the Companies Act, the legislation that governs the business creation.
The investor must make an initial transfer of 100,000 US Dollars or the equivalent in convertible currency. The company must have a turnover of more than 4 Million Rupees annually.
The investor, holding an Occupation Permit, has the right to acquire an apartment in a building of at least two floors. For the property acquisition, applications must be made from the Board of Investment.
RETIREMENT
A retired expatriate is a person aged over 50 who is not a citizen of Mauritius.
The retired expatriate must make an initial transfer of 40,000 US Dollars or more the day he settles in Mauritius.
The retired expatriate must commit to transfer at least 40,000 US Dollars annually to his bank account in Mauritius.
A retired expatriate who has made an initial transfer of more than 120,000 US Dollars when applying for a residence permit is entitled to purchase an apartment in a building of at least two floors. Applications for the acquisition must be made from the Board of Investment.