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Occupancy Permit and buying a property in Mauritius

Thursday, December 15, 2016

There are several ways to obtain an Occupancy Permit in Mauritius and then aquire property. Please find below, based on the BOI information, the guidelines:

The Occupation Permit (OP), which is a combined work and residence permit, allows non-nationals to reside and work in Mauritius. Non-citizens, above the age of 50 years, may also choose to retire in Mauritius under a Residence Permit (RP).

A non-citizen can apply for an OP/RP under any of the following 4 categories:

Investor: Initial transfer of USD 100,000 and the business activity should generate an annual turnover of at least MUR 2 million for the first year and cumulative turnover of at least MUR 10 million for the subsequent two years.

Existing investor with a net asset value of at least USD 100,000 and a cumulative turnover of MUR 12 million during the preceding 3 years with a turnover of at least MUR 2 million in any one year.

Individual who has inherited a business in case of death or incapacity of the previous investor provided that the net asset value of the business is at least USD 100,000 and a cumulative turnover of MUR 12 million with a turnover of at least MUR 2 million in any one year.

Professional: Basic salary should exceed MUR 60,000 monthly. However, the basic salary for professionals in the ICT Sector should exceed MUR 30, 000 monthly.

Self-Employed: Income from the business activity should exceed MUR 600,000 annually for the first two years of activity with an initial investment of USD 35,000.

The annual income has been increased from MUR 600,000 to MUR 1,200,000 as from the third year of activity.

Retired: The non-citizen must undertake to transfer to his/her local bank account in Mauritius, at least USD 40,000 annually

The Occupation Permit/ Residence Permit is granted for a maximum period of three years, renewable thereafter subject to established criteria.

Moreover, Occupation/ Residence Permit holders under specified criteria are eligible to acquire an apartment located in a building comprising ground + at least  2 floors as from date of issuance of the Occupation Permit.

  1. Investor: Non-citizen investing a minimum of USD 100,000
  2. Professional: Non-citizen earning more than USD 3,000 per month
  3. Retired non-citizen: Non-citizen transferring a minimum of USD 120,000 at the time of application of his/her Residence Permit.

Dependents of Occupation/ Residence Permit holders, namely spouse, children up to the age of 24 and common-law partner, are also eligible to apply for a residence permit in Mauritius.

All the information can be found on the BOI website: http://www.investmauritius.com/work-live/op.aspx

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