Investing in Mauritius

Due to its entrepreneurship and investment capabilities, Mauritius has become one of the most dynamic developing countries in sub-Saharan Africa. Investors have been attracted to the country due to steady economic growth.

As a crossroads between Asia and Africa and as a gateway to European and American markets, Mauritius is one of the most sought-after investment destinations.

In the past decade, Mauritius has developed a reputation for having a solid foundation of fiscal policy, good governance, ethics, transparency, and political and economic freedom. With a well-defined and transparent investment code and legal system, the country boasts one of the best investment climates in the region.

The government grants a 10-year occupancy permit as an incentive for value investment through various investment possibilities in order to further open the Mauritian market to international investors and expertise and to ensure long-term stability.

According to the Mauritius Immigration Act, the term “investor” denotes a person who is not a citizen of Mauritius, or an association or body of persons, whether corporate or incorporate, the control or management of which is vested in persons who are not citizens of Mauritius, and registered as such with the EDB.

BE ADVISED

These guidelines are subject to amendment & should not be interpreted as definitive.

FIND OUT MORE

Economic Development Board www.edbmauritius.org www.residency.mu

Registrar of Companies
companies.govmu.org

USEFUL LINKS

Declaration of Trades www.mccpl.mu

Financial Services Commission www.fscmauritius.org

Type Of Investor

The «Normal» Investor

Make an initial transfer of USD 50,000 or its equivalent in freely convertible currency to the bank account of the company to which the request is addressed.

Existing Investor – «Net Asset Value»

The net asset value of the existing or inherited company is at least USD 50,000, or its equivalent in freely convertible foreign currency, and the company must have achieved a cumulative turnover of at least MUR 12 million in the last 3 years.

High Technology Machines and Equipment Investor

Make an initial investment of USD 50,000 or its equivalent in freely convertible currency, including a minimum transfer of at least USD 25,000 to the company’s bank account under which the application will be made and an investment equivalent to the residual value in high technology machines and equipment.

The Innovative Investor

This category does not have a minimum investment requirement. Two possibilities: either submit the innovative project to the Economic Development Board for evaluation and approval or register with an incubator accredited by the Mauritius Research and Innovation Council.

The Self-employed

Must run their own business and work only on their own. At the time of the granting of his Occupation Permit, he must make an initial transfer of USD 35,000 or its equivalent in freely convertible foreign currency to his bank account in Mauritius.

From the third year of operation, his commercial business must earn an annual income of Rs 800,000 for his permit to be renewed.

The Professional

Must be employed in Mauritius under an employment contract and be registered as such with the Economic Development Board.

The basic monthly salary must be at least Rs 60,000. In the areas of information and communication technology (ICT), business process outsourcing (BPO), pharmaceutical manufacturing and processing, fund accounting and compliance services, the base salary must be at least Rs 30,000.

The «Professional» may invest in any company provided that he is not employed by it, is not its director and does not receive any salary or benefit from it. If he has an occupation permit, he can hold shares in the company where he works, provided he is not the majority shareholder.

The Real Estate Investor

Mauritius offers several ways for foreign investors to invest in real estate, the VEFA (Off-plan Properties) – the Integrated Resort Scheme (IRS) – the Real Estate Scheme (RES) – the Property Development Scheme (PDS) – the Ground+2 (G+2) and the Smart City Scheme (SCS).

Any investment of USD 375,000 or more entitles the investor to a 10-year renewable residence permit or a permanent residence permit in Mauritius, depending on the program chosen.

The Smart City Scheme is of particular interest, as foreign investors with a Mauritian residency permit for at least two years are eligible to apply for Mauritian citizenship if they invest at least USD 5 million.

The Foreign Self-employed

Must be an independent business owner and solely involved in the service industry. According to the Business Registration Act of 2002, he must register with the Registrar of Businesses and make an initial deposit of USD 35,000 or its equivalent in freely convertible foreign currency into his local bank account in Mauritius.

During the three years preceding the application for an occupation permit, his commercial activity must generate a cumulative income of at least Rs 2,400,000, as well as an annual business income of at least Rs 600,000.

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Real Estate Investor

Mauritius is now one of the top destinations for real estate investment. The government has implemented several programs to attract foreign investors: VEFA, IRS, RES, PDS, SCS, Ground +2.

Residence Permit

In order to obtain the residence permit through the acquisition of a real estate residence, it is necessary to pay at least USD 375,000. All family members of the purchaser (spouse and children under 24 years old) are eligible to obtain a Mauritian residence permit for the duration of ownership of the property.

VEFA – Vente en Etat de Futur Achèvement (Buying off-plan)

In article 1601-3 of the Civil Code, the sale before completion or buying off-plan is defined as «the contract by which the seller immediately transfers to the buyer his rights to the land and the ownership of the existing buildings. Future works become the property of the purchaser as they are executed; the purchaser is required to pay the price as work progresses. The seller shall retain the powers of the contracting authority until the works are received».

In general, the payment schedule is as follows:

25% of the sale price upon signature of the sales contract;
10% upon completion of the foundation work;
35% upon completion of the roof;
5% upon completion of the work;
5% upon delivery.

The Integrated Resort Scheme (IRS)

In 2001, the Mauritian government introduced the IRS, a program that allows non-residents to invest in luxury properties in secured residences with amenities. The minimum selling price of an IRS property is USD 375,000.

The Real Estate Scheme (RES)

The program was introduced in 2007 and allowed non-residents to invest in luxury real estate with no minimum sales price. A residency permit can be obtained with an investment of at least USD 375,000.

The Property Development Scheme (PDS)

Launched in 2015, the program emphasizes flexibility, localized social and economic contributions, and respect for the environment. There is no minimum purchase price, and if the buyer invests at least USD 375,000, they will be able to obtain the residence permit.

The Smart City Scheme (SCS)

The Smart City Scheme highlights Mauritius as a sustainable destination and a hub for international business. A residence permit is available for purchasers who invest a minimum of USD 375,000 in residential properties.

Foreign investors who hold a residency permit for at least two years may apply for citizenship if they invest USD 5 million.

The Ground+2 (G+2)

According to this regulation, non-residents can buy apartments in a complex with at least six apartments and built on a freehold land. The building must be more than two floors (ground floor plus at least two (2) floors).

There is a minimum selling price of 6 million Mauritian rupees. Purchasers who spend at least USD 375,000 in a residential property are eligible for a residence permit.

The Invest-Hotel Scheme (IHS)

The new IHS program is defined by the EDB as follows. The Invest-Hotel Scheme (IHS) allows hotel developers to finance the construction of a hotel project by selling villas, suites or apartments within the hotel to individual buyers.

The Invest-Hotel Scheme stipulates the following:

The apartments, villas or suites for sale must be part of a hotel built on owned or leased land of more than one hectare;
A rental agreement is concluded by the purchase of a dwelling, in which the property is rented to the seller;
The unit leased to the seller may be used and occupied for a total of 45 days in any 12-month period by the owner of the unit or any person acting on behalf of the owner.

Persons who meet the following criteria may acquire a property from an IHS company:

Non-citizens of Mauritius; – Mauritian citizens;
Companies incorporated under the Companies Act 2001;
Companies, the memorandum of association of which has been filed with the Registrar of Companies;
Trusts, where the trusteeship services are provided by a qualified trustee approved by the Financial Services Commission.

Please note that under the IHS program, a GBL (Global Business Licence) company with a business licence under the Financial Services Act 2007 is not allowed to acquire property.

Create a Company

The first step is to decide on the type of company you wish to set up in Mauritius.
A company, under the Companies Act 2001, may be:

Unlimited Company

Not limited to the liability of its shareholders.

Limited Life Company

This type of business generally has a life span of 50 years.

Small Private Company

Companies with an annual turnover of less than Rs 50 million.

Foreign Company

May incorporate a company if it meets all the requirements set out in the Companies Act 2001.

May be required to appoint a local authorized agent in Mauritius and have a registered office.

Protected Cell Company (PCC)

It allows for the raising of investment funds, the creation of insurance, structured finance and the holding of assets. There are no capital requirements for this type of company.

Trust

It was established under the Companies Act 2001 and specializes in charities, discretionary purposes, asset protection trusts, etc.

It does not require formal registration and maintains complete confidentiality. In addition, the flexibility of the trust law supersedes the applicable governing law.

Limited Partnership Company

The liability of the partners is unlimited, and the partnerships are common to professional service firms.

Sole proprietorship Company

It is governed by the Commercial Code and requires the application for a Business Registration Number (BRN) in Mauritius, where it is more flexible and widely used.

If a sole trader wishes to give a specific name to his company, he must file a name application with the Registrar of Companies.

Authorised Companies

Successor to the Global Business Licenses (GBC2), its business activities and management positions are located outside Mauritius.

This means that a non-citizen owns or controls the majority of the shares (other than banks), voting rights, legal or beneficial interests in the company.

About

JLSK

Our three Core Values : Transparency, Professionalism, Humanity

Present in Dubai since 2022 and in Mauritius for more than 12 years, our company has various expertises in consulting, investment and real estate services.

Our strength lies in our extensive network of experts in Dubai, Mauritius, Cyprus and Europe.

Discretion and support are our credo

In perfect symbiosis and collaboration we provide you with tailor-made advice, simple and easy to implement. Our solutions meet your specific needs as a company or individual.

We contribute to and actively participate in our client’s success.