Your Adviser in expatriation : Golden Verdandi
The different residency programs
Anyone investing in one of the programs below is eligible for the 20-year permanent resident visa.
A. Real Estate Investment:
An minimum investment of $375,000 in one of the special real estate programs, designed to allow ownership of real estate projects by noncitizens.
The high-end, luxury, freehold residences offer the possibility of using rental management services and thus obtaining interesting returns on investment. There are no exchange controls and no restrictions on the repatriation of rental income from real estate investments
The approved programmes are:
1. The Integrated Resort Scheme (IRS) (now discontinued but there are resales) requiring a minimum investment of $500,000;
2. Le Real Estate Scheme (RES) ;
3. Le Property Development Scheme (PDS) ;
4. The Invest Hotel Scheme which allows hotel developers to finance the development of a hotel project by selling villas, suites or units forming part of the hotel to individual investors.The buyer can
invest a minimum of $ 500,000 in a stand alone villa, but must nevertheless conclude a rental agreement by which the property is rented to the hotelier; the rented unit may be used and occupied by the owner or any other person, on his behalf, for a total period of 45 days over a period of 12 months;
5. The Smart City Scheme (SCS) in mixed-use development projects with smart technology and pioneering innovation revolving around the concept of work, life and leisure.
6. Investment in a G+2 luxury apartment project for a minimum of $150,000 (which does not automatically confer the status of resident).
B. Investment in a commercial activity
An investor making a minimum investment of $375,000 in an eligible business activity can apply for the 20-year residence permit in the same way as those who invest in one of the real estate programs. The investor must first incorporate a company or other legal entity in Mauritius and be a shareholder and director of it. The transfer of funds is a prerequisite for the issuance of the permit.
Other residence permits
Foreigners wishing to live and work in Mauritius can also apply for an Occupation Permit (PO) which is a work and residence permit for an initial period of 10 years, renewable.
The following options are available for these foreign nationals to benefit from the 10-year residence permits, provided that established criterias are met:
1. an «Investor OP», by making an initial investment of at least $50,000 in a company of which he is a director and shareholder. Holders of the Investor OP can then apply for a permanent residence
permit for a period of 20 years after 3 years if they can demonstrate the financial income below, for a consecutive period of 3 years:
> a minimum annual gross income of at least Rs 15 million (approximately $375,000); or
> a total turnover of Rs 45 million (about $1.2 million)
The investor can also invest in an innovative «start-up» with an initial investment of $50,000 and a minimum expenditure of 20% in research and development, or when he registers with an accredited incubator with minimum operating costs of 20%, making him eligible for an initial residence period of 10 years;
2. OP Professional with a basic salary of at least $1,400 (and about $700 if in the technology and computer sector),
3. OP Self Employed - any person working on their own account (in the service sector) and duly registered under the Business Registration Act 2002, by making an initial transfer of $35,000 to a bank account in Mauritius;
In addition, Mauritius wishes to become a preferred destination for retirees and has recently introduced the residence permit for retirees, open to people aged 50 or over, allowing them to reside
in Mauritius for a minimum initial period of 3 years against the transfer of a monthly amount of at least $1,500 to a bank account in Mauritius.
OP holders have the opportunity to acquire land in one of the Smart Cities for residential purposes for a minimum value of $375,000 until June 30, 2022 on which they can build a house; the land can not exceed 2100 m2 and the residence permit will only be granted when the construction is completed.
Mauritian programs are attractive because:
1. Residency may be granted to an applicant and his/her family and dependents (including spouses or partners, parents and unmarried, financially dependent, natural, legitimate, adopted and/or stepchildren of the permit holder up to the age of 24).
2. The spouse of a OP holder no longer needs to hold a permit to invest or work in Mauritius, unlike what was the case only two years ago. OP holders are now allowed to bring their parents and
dependent children up to the age of 24 to live with them in Mauritius
3. The country’s safe and secure environment 4. Political, social and economic stability
5. The country’s ranking among the top 20 countries in the world for ease of doing business
6. The existence of a sophisticated, transparent and well-regulated international financial centre
7. The possibility of deriving interesting returns on investment from the property
8. The presence of international schools and universities
9. Good private health facilities
Our company Insight Expert Services Ltd trading as Golden Verðandi, takes its name from the trio of goddesses of Norse mythology; she was the one who decided the fate of men in the present.
We help our clients to transform their dream of the future into their current reality, to realize it now. With partnerships established with various operators, including real estate developers, our strategy is
to bring attractive investment opportunities that promise to offer interesting returns to our clients.
Led by Y. Aasha Juddoo, an experienced business lawyer with years of experience working with high-net-worth international clients, the Golden Verðandi team comprises of professionals with indepth
knowledge of all the regulatory, legal and fiscal intricacies applicable to eligible investments.
We offer comprehensive services and solutions as well as concierge services to our selective clientele seeking to benefit from residency or investment programs. We are here to ensure that the process
is as smooth as possible for our customers; we focus on what really matters to them, providing them with a higher level of service than they expect and creating lasting relationships, beyond their investments. While building this relationship takes time, it allows us to establish our highly differentiated position.
We also assist our clients with the registration of yachts or private jets or related to other benefits for our clients who wish to benefit from the interesting incentives offered by the Mauritian jurisdiction
Y.D Aasha Juddoo | Director
M +230 52571400 E info@goldenverdandi.com W www.goldenverdandi.com
