The Government has set up a Permanent Residence Scheme to attract high-net-worth individuals to Mauritius. Under this Scheme, foreigners investing more than half a million dollars in Mauritius, are eligible for permanent residence, along with their spouse and children under 18 years of age. For children above 18, an additional deposit of USD 100,000 is required.
The initial investment is transferred to the Permanent Residence Investment Fund (PRIF) which is managed by the Accountant General of the Ministry of Finance. A return earned on the investment is payable annually.
The sum deposited into the PRIF, or part thereof, can be reinvested in:
- a qualifying activity approved by the Board of Investment.
- securities officially listed on the Stock Exchange.
- an equity fund.
If the deposit in the PRIF is not reinvested in one of the above activities, a minimum of USD 500,000 shall be locked in the PRIF for a period of 10 years.
Under this scheme, the investor is exempted from the work permit requirement and can acquire immovable property to an extent of 0.5276 hectares for personal use.
