Expatriate Services It is possible for expatriates to live and work in Mauritius. However, it can be a hectic task for expatriates to do all the resident permit procedures without proper guidance. We, at IBSF Mauritius can assist you to avail yourresident permit in Mauritius. In fact, expatriates can obtain a resident permit in Mauritius by being an investor, professional, self-employed, owner of an IRS/RES villa or a retired person in Mauritius. Investor, professional and self-employed In fact, for the investor, professional and self-employed route, an occupation permit is normally attributed to expatriates. The Occupation Permit is a combination of a work and resident permit in Mauritius, that is, it allows a non-national to work as well as to live in Mauritius. A complete application needs to be made through the Board of Investment to the Passport and Immigration Office.It takes three (3) days to process and obtain an Occupation Permit which is issued for a maximum period of three (3) years. Also, the dependents of an Occupation Permit holder may also apply for residence permits. An investor, a professional or a self-employed person may be eligible to an Occupation Permit under the following conditions: Investor The business activity should generate a turnover exceeding MRU 4 million (approx. USD 133,333) annually with an initial investment of USD100,000 or its equivalent in freely convertible foreign currency. If there is more than one investor in the same company applying for an Occupation Permit, the turnover criteria should apply in respect of each applicant (i.e MRU 8 million for two applicants, MRU 12 million for three applicants, and so on) Professional Basic salary of the expatriate should exceed MRU 45,000 (approx. USD 1,500) a monthly. However, the basic salary for the Professional in the ICT Sector should exceed only MRU 30, 000 (approx. USD 1,000) monthly. Professionals should show proof of Academic qualifications in their respective fields. Self-employed Income from the business activity should exceed MRU 600,000 (approx. 20,000) annually with an initial investment of USD 35,000 or its equivalent in freely convertible foreign currency. Buying property in Mauritius Non-nationals are allowed to acquire residential property in Mauritius under special schemes known as the Integrated Resort Scheme (IRS) and the Real Estate Scheme (RES) respectively. Properties under the IRS are offered for sale at a minimum legal price of USD 500,000 and the acquirer of an IRS property is automatically granted a residence permit. Comparatively, a residential property bought within a RES development does not have to comply with a minimum price. However, acquiring a property under the RES does not confer permanent residency. Acquirers of a residence under the RES may wish to apply for residency under any of the 4 existing conditions: as an investor, as a professional, as a self-employed, or as a retired non-citizen. Retiring in Mauritius On the other hand, Mauritius also offers an exceptionally safe, hospitable and pleasant environment for people worldwide to come and retire on the island. There are ample accommodation facilities, from fully serviced apartments to luxurious villas and beachfront residences. While the cost of living is affordable, medical and health services are of a world-class standard. A residence permit for retired non-citizens allows an eligible person to reside in Mauritius for three years. To be eligible for a residence permit, a retired non-citizen must undertake to transfer to his/her local bank account in Mauritius, at least USD 40,000 annually, or its equivalent in any freely convertible foreign currency. The applicant should make an initial transfer of at least USD 40,000 or its equivalent in freely convertible foreign currency when first settling in Mauritius. Nonetheless, a holder of a residence permit for retired non-citizen is not allowed to work in Mauritius. Our Services Advise you on the best way to apply for a resident permit, given your situation and requirements. Handle the application process of resident/ occupation permit. Liaise with the relevant authorities.
Posted on: Sun, 19 Oct 2014 01:58:36 +0000
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