When you hear of Mauritius – you automatically think of pristine beaches, lush greenery, and luxurious resorts! Clearly, Mauritius is synonymous with leisure, and you can find all the sun, sand and sea you are looking for! It’s the perfect environment for you and your family. If you are planning to make a move here, then let us give you the lowdown on why you are making the right decision to relocate to this paradise island!

Relax, unwind and enjoy a high-quality lifestyle

Firstly, apart from being the dream tourist destination, it is also an ideal destination for expatriation. The island provides several advantages to local and foreign residents. Furthermore, living in Mauritius gives you a superior quality of life as well. Everything in the island is within easy reach, with the modern road network providing access to hospitals, private clinics, primary and secondary schools, and shopping malls.

Mauritius has always been a welcome home for professionals who are able to bring foreign skills and talents. From dynamic sectors like banking and finance, technology and innovation, information and communication, healthcare, and tourism to trade and real estate, Mauritius offers opportunities to expatriates to explore the local job market.

Additionally, the Mauritian government introduced the Property Development Scheme (PDS) where foreigners and expatriates have the right to purchase a real estate property in Mauritius. These residential properties include condominiums, villas, and luxury apartments.

Employment opportunities

The Mauritius International Financial Centre (IFC), which recently celebrated its 30^th anniversary, boasts a strong track record in facilitating cross-border ventures and finance and offers a robust and sophisticated platform. The Mauritius IFC offers a well-regulated ecosystem, encompassing a well-developed global business sector supported by globally renowned banks and expert legal and accounting professionals. Leveraging on its best-in-class foundation and trust structures, legal framework, and ease of doing business regime, the Mauritius IFC offers an array of opportunities, including private banking, worldwide international business protection and reinsurance, trusts and foundations, investment banking and global headquarter administration, amongst others.

Mauritius is known to offer significant opportunities for foreign workers looking for a new role whether you are an investor, a professional, or self-employed. The Government of Mauritius has introduced various permits and visas which allow expats to stay longer and call the island their home. Some of them include:

Occupation Permit, Long Stay visa, Premium Visa, Investor Permits, Professional Permits, Self-Employed Permits, Dependents of an OP or RP holder, Permanent Residence Permit – 20 years and Young Professional Occupation Permit (YPOP).

Due to its solid administrative framework, vast experience in corporate administration, straightforward legal system, easy connectivity, no trade exchange controls, appealing tax systems, modern and cutting-edge framework, and acknowledgement as a “White-listed” jurisdiction by the OECD and FATF, as well as adherence to global accepted procedures and principles – the island is a preferred destination for a plethora of foreign talent. So, how do these permits and visas work?

• Occupational and Residence Permit

It is both a work and residence permit that allows foreigners to work and live in Mauritius. The self-employed and investor’s occupational permit is issued for a maximum period of ten years and is renewable. For professionals, the permit shall be issued for a maximum period of three years or depending on the duration of the contract of employment – and is renewable. Dependents of occupational permit holders may also apply for residence permits for the same duration as the main holder.

• Permanent Residence Permit

This permit allows foreigners to work and live in Mauritius for a period of 20 years and is renewable for another 20 years depending on certain conditions being met. To be eligible for a Permanent Residence Permit, you need to be an:

1. Investor:

• Holder of an occupational permit for at least 3 years;
• Have a minimum annual gross income of at least 15 million Mauritian Rupees for 3 succeeding years prior to the application for permanent residence.

2. Professional:

• Holder of an occupational permit for at least 3 years;
• Have a basic monthly salary of at least 150,000 Mauritian Rupees for 3 succeeding years prior to the application.

3. Self-Employed:

• Holder of an occupational permit for at least 3 years;
• Have an annual business income of at least 3 million Mauritian Rupees for the 3 succeeding years prior to the application.
• Young Professional Occupation Permit

This permit is available to foreign students who studied in any tertiary institution in Mauritius. It is valid for a maximum period of 3 years, depending on the duration of the contract of employment. The foreign student needs to meet the following criteria to be eligible for a Young Professional Occupation Permit:

• Undergraduate degree completion in any tertiary institution in Mauritius, recognised by the Higher Education Commission.
• International recognised professional certification completion similar to at least an undergraduate degree in a registered institution in Mauritius.
• The permit application must be submitted within 6 months after the date of publication of the results.
• Premium Visa

Since 2020, Mauritius has introduced a new travel visa, the Premium Visa, to any foreigner who wishes to stay in Mauritius as a professional along with his/her family to carry out business or work remotely from Mauritius. The visa is valid for one year and is renewable. To be eligible for a Premium Visa, foreigners need to show proof of their long stay plans and have enough travel and health insurance for the period of stay and abide by the following:

• Non-citizens cannot enter the Mauritius labour market;
• Place of business and source of income and profits should be on an international level;
• Provide evidence to support the application such as reasons for visiting, accommodation etc;
• Meet the immigration requirements.

For more information on the visas and permits and to apply for an occupation and residence permit, visit the National E-licensing System at https://business.edbmauritius.org

Favourable tax system[1]

If you plan to relocate to Mauritius, you will face a simple and attractive tax system, with the corporate tax and personal income tax harmonised at the rate of 15%. Similarly, Value Added Tax (VAT) stands at 15% which encourages foreigners from South Africa and other countries to come and settle in Mauritius. These are the key components of the corporate tax system:

• Corporate tax at 15% (with a 80% partial exemption regime, reducing the tax rate to 3% for certain types of companies – subject to meeting substance requirements);
• No charges or constraints on the repatriation of the funds generated by your activity (profits, dividends, capital);
• No tax at source on interest and dividends;
• Tax exemption on capital gains generated by companies;
• Exemption from customs duties on equipment.

When it comes to the individual tax system, there is:

• Tax exemption on dividends and profits;
• No social security contributions or property taxes;
• No inheritance tax.

Investing in a brighter future

Having mentioned the taxation and permits, foreigners can invest in real estate in Mauritius under three schemes, namely: IRS (Integrated Resort Scheme), RES (Real Estate Scheme) and IHS (Invest Hotel Scheme). The first two investment schemes differ mainly on the size of the residence, the minimum allowable purchase price, and the arrangements. Since June 2015, a new legal framework has been put in place to replace and include the IRS and RES, in order to better monitor the real estate programmes available in Mauritius. The PDS (Property Development Scheme) proposes conditions similar to the two previous investment schemes. The PDS does not impose a minimum purchase requirement to access all tax benefits.

Apart from these, Mauritius also offers the Smart City Scheme (SCS), which also allows a foreign national to take advantage of all the tax advantages applied to Mauritius. The specificity of the Smart City Scheme also lies in the sale of 25% of the residential units of the project, exclusively dedicated to Mauritian citizens or members of the diaspora.

Taking all of these into account, the Government of Mauritius welcomes investment and embraces business. Globally recognised as a safe, stable, and conducive environment to conduct business, it is highly regarded for its political stability, economic freedom, and good governance. Mauritius is also a favourable and preferred platform for investments into Africa. Moving to Mauritius will allow you to benefit from a wide network of treaties – be it Double Tax Avoidance Agreements (DTAAs) or Investment Promotion and Protection Agreements (IPPA) or Memoranda of Understanding (MoUs) – and a business-friendly environment, especially between emerging Asian countries and Africa.

Mauritius, being a diverse and multicultural nation of 1.3 million people, offers a range of investment opportunities in different sectors. Its ease of doing business ranking and stable governance creates the perfect business environment. With a 7.8 % real GDP growth rate in 2022, the local labour force is bilingual, indeed often trilingual, with English and French being the main languages used together with the native Creole. The opening up of the economy has had a favourable impact on the growth rate of the country with increased transfer of technology, knowledge, talents and capital. In its pursuit to reach even greater heights of economic success, Mauritius is actively encouraging foreign talents, know-how and investment into the country. As an attractive and thriving place for business with an incomparable art de vivre, Mauritius is the perfect home for the citizen of the world and we are ready to welcome you!

[1] https://2futures.com/island-living-the-benefits-to-enjoy-in-mauritius/

https://edbmauritius.org/work-live

https://www.proactive.mu/find-job-in-mauritius-as-foreigner/

https://immo-ile-maurice.com/en/invest-mauritius-real-estate-sun-yield/