Earlier this year, Mauritius announced a program officially branded the Mauritius Golden Visa targeting high-net-worth foreign investors annually.
The goal is to reach up to 100 investors a year with a minimum $1 million entry requirement. Mauritius’ prime minister, Navin Ramgoolam, outlined plans for the program during a parliamentary meeting in May.
Media reports state that the multiple-entry visa was introduced to better meet the needs of high-net-worth individuals and their immediate dependents. The guidelines were finalized by the Economic Development Board, with investments must be in “high-value” industries, including fintech, global treasury, AI, biotech, and renewable energy. However, it is not yet fully operational.
Prime Minister Ramgoolam explained that the plan is for the African island nation to boost its economy through a visa that encourages long-term residents to invest in local sectors.
How will the Mauritius Golden Visa work?
The application process would include fast-track processing within five days. The program also provides relocation perks, such as private schooling and banking, while restricting property acquisitions to high-end, approved schemes to protect local housing affordability.
A unique aspect of the program is that it is investment-based rather than solely income-based, like the current Premium Visa program. It is also different from the Permanent Residence Permit (PRP), which unlocks long-term residency through real estate acquisition starting at $375,000.
In addition, the aim of the new visa is to tap into the African island nation’s attractive tax environment, which includes no inheritance, capital gains, or wealth tax.
Once granted, the visa is valid for up to two years and can be renewed upon submission of a new application.
