Have you ever thought about real estate investment as a path for foreign residency? Well, we have good news!
Mauritius is a top choice for this Citizenship by Investment! With its steady economy, and position in the Indian Ocean, Mauritius gives a safe way for investors who want citizenship or long-term residency.
At Colbert Holdings, our skilled legal experts can help you navigate through the process and give you all the information you need.
In this article, we will go over all of the basics of Citizenship by Investment (CBI) programs, their eligibility criteria, and the application process.
What is Citizenship by Investment?
Citizenship by Investment helps foreign investors receive citizenship by investing money in the country. This can be through real estate, business or other approved investments.
The property development scheme in Mauritius draws foreign money, growing the economy while giving investors perks like visa-free travel to over 145 countries, including many Commonwealth lands.
However, it’s important to know why you should invest in Mauritius and the advantages it offers!
Why Mauritius Attracts Investors
Mauritius provides many lifestyle benefits, with a strong business scene and friendly tax rules. It has investment choices like the Property Development Scheme (PDS) and Integrated Resort Scheme (IRS). Foreign people might also get long-term residency or work permits.
At Colbert Holdings, we guide investors to obtain Mauritian citizenship. We help with things like an initial transfer of foreign money and choosing good real estate options. Whether investing in hotel units or buying land, we support a smooth shift from an investor visa to citizenship.
Eligibility Criteria
To receive Mauritius Citizenship by Investment, foreign nationals need to follow specific rules. One important requirement involves a financial commitment to the country. This usually involves putting funds into real estate options such as the Property Development Scheme (PDS), Integrated Resort Scheme (IRS) or approved plans like current hotel properties or business opportunities. The minimum investment amount often begins at USD 375,000, but this might change with different programs.
Besides this financial requirement, candidates must show proof of a clear criminal background and a strong business track record or relevant skills. This step helps confirm that the applicant will likely contribute to the country’s economy and community.
Applicants also need to give all needed papers, like proof of the initial money transfer in freely convertible foreign currency and evidence of investing in allowed areas.
Alternative Choices for Investment
Mauritius offers numerous options for people interested in becoming citizens through the investment program:
Real Estate Investment Opportunities
Investors have the chance to enter the thriving real estate market by buying property through programs like the Integrated Resort Scheme (IRS), Property Development Scheme (PDS) or Real Estate Scheme (RES). These options permit foreign people to own luxury homes or freehold land, with a starting investment usually at USD 375,000. This way not only offers a path to citizenship but also might bring a return on investment, as Mauritius is famous for its strong real estate growth.
Government Bonds and Financial Investments
Individuals seeking a more secure investment option may consider purchasing government bonds or authorized financial products for citizenship.
These investments contribute to the economic development of Mauritius and typically come with a minimum financial requirement set by the Economic Development Board.
Business and Entrepreneur Ventures
Entrepreneurs might qualify for citizenship by investing funds into important parts of the Mauritian economy like tourism, property building and green energy. By starting or funding accepted business plans, investors support the local market and find a way to citizenship.
Benefits of Mauritius Citizenship by Investment
Getting citizenship in Mauritius through investment provides many advantages for foreign investors and their families. It is among the most appealing investment programs worldwide. Here are some main benefits:
Access to a Stable and Growing Economy
Mauritius has a lively and expanding economy, perfect for foreigners wishing to invest in a secure setting. Supported by the Economic Development Board, the country’s business activities flourish, particularly in real estate and green energy. Investors who fulfil the minimum investment conditions gain permanent residency, enabling them to reside and work in Mauritius and enjoy its lifestyle perks. Furthermore, the required minimum monthly salary for an occupation permit lets foreign investors take part in various fields, including self-employment.
Visa-Free or Visa-on-Arrival Travel to Over 145 Countries
A major advantage of Mauritian citizenship is the visa-free travel to over 145 nations, including numerous Commonwealth countries. This global mobility attracts investors looking to travel freely without the trouble of getting multiple visas. Mauritian citizens travel easily through Europe, Africa and Asia, making it a great base for business and personal purposes. With the option for dual citizenship, investors retain their original nationality while obtaining Mauritian citizenship for more flexibility.
Favorable Tax Environment and Business Opportunities
Mauritius is recognized for its favourable tax environment, drawing foreign investors wanting to maximize their investments. There is no capital gains tax and those investing in real estate via the Property Development Scheme (PDS), Integrated Resort Scheme (IRS) or other programs enjoy tax benefits. This tax system, along with investing in hotel units, freehold land and other real estate projects, provides investors with significant returns. The Indian Ocean island is also a business hub, notably in property development and marine resources, offering plenty of chances for growth.
Investors begin the citizenship process with the minimum investment in real estate or other approved sectors by providing an initial fund transfer in freely convertible foreign currency.
The main applicant also extends the benefits of Mauritian residency to family members, allowing permanent residence permits for their common-law partner and children.
So what is the application process like?
The Application Process
Applying for Mauritius citizenship by investment involves the following steps:
- Select an Investment Option: Choose from approved options such as real estate investment through schemes like the Property Development Scheme (PDS) or Integrated Resort Scheme (IRS), or opt for government bonds. Ensure the minimum investment is made and funds are transferred in freely convertible foreign currency.
- Submit Your Application: Apply to the Economic Development Board (EDB) with proof of investment, a clean criminal record, identity documents (passport, birth certificate), and business history if relevant.
- Pay Application Fees: Cover the required application and processing fees, which vary depending on the investment type.
- Application Review: The EDB will verify your investment and documents, with a typical processing time of a few months.
- Citizenship Approval: Upon approval, you will receive Mauritian citizenship and a passport, along with potential eligibility for a permanent residence permit for your family.
Costs Involved
Investment Amounts
Minimum investment for Mauritius citizenship through investment starts at USD 375,000 for property under the Property Development Scheme (PDS) or Integrated Resort Scheme (IRS). Other choices, like government bonds or business projects, might require different minimum amounts based on the program picked.
Application Fees
Extra application fees must be paid to the Economic Development Board (EDB), usually between USD 1,000 and USD 5,000. This depends on the type of investment and how many people apply.
Legal and Administrative Costs
Investors should think about extra costs, like legal charges for document preparation, background checks and notary work. These costs may range from USD 5,000 to USD 15,000, depending on how complicated the application is.
Timelines and Expected Results
How long does the step require?
Gaining Mauritius citizenship through investment usually takes about 6 to 12 months. This time covers the examination of your investment, background checks and document confirmation by the Economic Development Board (EDB).
What follows approval?
After acceptance, you receive your Mauritian passport and full citizenship privileges. This gives you visa-free entry to over 145 countries, a chance for a permanent residence permit and the option to reside, work and own property in Mauritius. Family can be included in some investment plans, giving them similar advantages. Mauritius offers a simple and attractive route to becoming a citizen through investment, providing entry to a stable economy, global movement and a favourable tax setting.
Conclusion
Mauritius offers an easy and attractive route to citizenship through investment. It gives access to a stable economy, global travel and a nice tax setup. Different investment choices, like property and business projects, stand available. This process suits investors wishing to secure their future in this successful island nation.
For expert advice on Mauritius citizenship by investment route, our skilled real estate agents may help with navigating the application and picking the investment that matches your targets.