Mauritius : gearing up for the economic recovery

No new cases of Covid-19 have been reported locally since 26th April 2020. By the end of the sanitary curfew on 31st May, the country had already started its economic recovery. Indeed, the Mauritian government introduced a series of measures to boost the country’s various economic sectors. Hailed by the WHO for its management of the crisis, Mauritius is now progressively reopening its borders.

The real estate market attracts many investors despite the crisis

The 2020-2021 Budget, presented last June, incorporates the government’s action plan aimed at supporting several industries, namely the tourism and the real estate sector. Different incentives have been implemented by the government:

  • The work permit and resident permit will be combined into one single permit.
  • Permanent Residence Permit will be extended from 10 years to 20 years. Existing OP holders, who have held the permit for three consecutive years will be eligible to apply for the 20-Year PRP.
  • The validity of the Residence Permit as Retired non-citizens will be increased to 10 years.
  • Non-citizens who have a residence permit under IRS, RES, PDS or Smart City Schemes will be exempted from a Work Permit if they want to work in Mauritius.
  • The minimum investment amount required to obtain residency status has been reduced from USD 500,000 to USD 375,000.
  • Our partner banks offer financing facilities at attractive rates to foreign and Mauritian investors.

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