Real Estate Investor Magazine South Africa April 2014 | Page 62

MAURITIUS
Residency and/or citizenship for residential
purposes
It is almost standard that most countries will grant you
residency rights if you invest in property in any country.
With an occupation permit you have the right to live
and work in Mauritius. Occupation permits are granted
as follows:

OCCUPATION PE RM IT: INVESTORS,
PROFESSIONALS, SELF-EMPLOYED
•

•
•

Investors - Minimum investment of USD 100 000
and annual turnover of MUR 4 million
Professional – Minimum monthly salary of USD 1 500
Self Employed – Minimum investment of USD
35 000 and annual turnover of MUR 600,000

RESIDENCE PERMIT: RETIRED NON CITIZEN
• Minimum annual transfer of USD 40 000
• Aged 50 and above
Eligibility for permanent residence
• Investors: After three years under an OP –
annual turnover of MUR 15 million per investor
in a company
• Investors: Initial investment of USD 500 000 in a
qualifying activity
• Professionals: After three years under an OP –
monthly basic salary of MUR 150 000
• Self Employed: After three years under an OP –
annual turnover of MUR 3 million
• Retired Non Citizen: After three years under a
Residence Permit

Moving capital in and out of Mauritius
Mauritius operates in all currencies although their
official currency is the Mauritian Rupee (MUR),
which is currently around 0, 33 to the SA rand (ZAR).
Property transactions are all priced in US dollars.
Most investors want to be able to freely move capital
in and out of the country to ensure that whatever they
take into the country they can repatriate again at any
stage. Exchange controls in Mauritius are non-existent.
There is property financing available in Mauritius up
to 50% of purchase price but is all dependent on the
balance sheet strength of the investor. The mortgage
terms period anything from 10 to 15 years.
Mauritius is a very low tax country. You generally
only pay tax on income generated in Mauritius and not
money from offshore. Mauritius is a double taxation
country if you are subject to tax in both countries. In
fact most basic taxes tax is a flat 15% across the board.
This includes corporate tax, Personal tax and VAT and
there are no other hidden taxes.
No corporate tax in the Freeport, no exchange control,
free repatriation of profits, and no withholding tax and
capital gains tax. The World Bank rated Mauritius as
one of th