Net Asset Value of USD 50,000

Foreigners who own or have inherited a business in Mauritius can apply for an Occupation Permit under the “Net Asset Value of USD 50,000” scheme. This 10-year permit allows business owners to focus on managing their operations without navigating the setup process. Here’s a detailed guide to help you understand the criteria and process.

Key Features of the Residency by Net Asset Value Scheme

• Minimum Net Asset Value: USD 50,000
• Cumulative Turnover Requirement: MUR 12 million over the last three years
• Permit Validity: 10 years, renewable
• Application Fee: USD 1,000 upon approval
• Renewal Criteria: Minimum annual gross income of MUR 4 million starting from the third year of registration

Eligibility for the Scheme

To qualify, you must provide evidence that your business has a net asset value of at least USD 50,000 and has generated a cumulative turnover of MUR 12 million in the preceding three years. Investments in qualifying activities such as agro-industry, healthcare, ICT, fintech, and renewable energy are accepted.

Application Process

You can start the application process online through the National Electronic Licensing System, which manages the entire process from submission to approval. Access the system here.

Tax Filing Obligations

All Mauritius businesses must file annual returns with the Mauritius Revenue Authority (MRA) and the Corporate and Business Registration Department.

Acquiring Residential Property

As a foreign national under this residency scheme, you are eligible to purchase properties under the IRS, RES, PDS, or Smart City schemes. You may also buy an apartment in a building with at least ground plus two floors.

Family Accompanying You

Dependents of Occupation Permit holders, including spouses, parents, and unmarried children, are eligible for residence permits. The permits last as long as the primary holder’s permit.

Renewal and Permanent Residency

After ten years, your Occupation Permit can be renewed if your company meets the gross income criteria. You may also apply for a 20-year Permanent Residence Permit if your business generates an annual gross income of MUR 15 million over three consecutive years or an aggregate turnover of MUR 45 million over any consecutive 3-year period.

Required Documents

• For New Applications: Birth certificate, passport, business plan, financial statements, business registration card, and medical certificates.
• For Renewals: Certificate of incorporation, business registration, financial records, and other permits.

Note for Applicants

Original documents must be presented at your appointment after being submitted online.

Reference: Net Asset Value of USD 50,000 – Residency in Mauritius. https://residency.mu/invest/net-asset-value-of-usd-50000/

Disclaimer:

The information provided in this article is for general informational purposes only. While efforts have been made to ensure the accuracy and reliability of the information, Mauritius.com makes no guarantees as to its completeness or accuracy.