Mauritius Budget Finance Bill 2020: Immigration-oriented Tax Measures

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The Finance Bill 2020 which should be effective as from 2nd of September 2020, was voted and enacted on the 7th of July 2020. Among the wide array of financial-related measures contained in this Bill, there are a series of Tax measures related to the Mauritian Real Estate Sector. These fiscal measures are listed as follows:

Residents of Mauritius

  • Non-citizen holding immovable property under the Integrated Resort scheme, Invest hotel Scheme, property Development Scheme or Smart City Scheme whose value is not less than USD375,000 will have the status of resident.
  • Parents of holders of a valid Residence Permit (RP), Occupation Permit (OP) and those non-citizens coming to serve the government under the Service to Mauritius Programme for a period not exceeding 3 years will have the status of resident.

Permanent Residency
An extension of Permanent Residency validity from 10 years to 20 years.

Occupation Permit and Residence Permit as retired non-citizens
Duration and investment criteria

  • Occupation Permit as investor, self employed and Residence Permit as retired non-citizen issued for a period of 3 years and valid on 1st September 2020, will be extended for a period of 10 years as from the date of expiry.
  • Application of Occupation Permit as investor, self-employed and Residence Permit as retired non-citizen has been extended to 10 years
  • Occupation Permit as professional and Residence Permit as retired non-citizen may invest in any business provided that he:
    • is not employed in the business
    • does not manage the business
    • does not derive any salary/ employment benefits from the business.

Occupation Permit as investor
Initial Investment of USD 50 000 instead of USD 100 000

  • For existing businesses, net value asset of USD 50 000 and cumulative turnover of Rs 12 million for the last 3 years
  • Rs 4 per year from the 3rd year of renewal

Occupation Permit as professional

  • Monthly basic salary of Rs30,000 applicable for: ICT, BPO, pharmaceutical, manufacturing and food processing sectors.
  • Any other sector Rs 60,000 basic monthly salary.

Occupation Permit as self-employed

  • Initial investment of USD 35,000 and should engage in services sector only.
  • Minimum of Rs 800,000 per year as business income required for renewal of permit.

Residence Permit as retired non-citizen

  • Initial transfer of at least USD1,500 at the time of the issue of the permit.
  • Monthly transfer of USD1,500 thereafter and the aggregate of which will be at least USD18,000 yearly during the 10 years validity of the Residence Permit.

Young professional Occupation Permit
Completion of at least an undergraduate degree in a local tertiary education institution recognised by the Higher Education Commission.

Source: pwc.com/mu

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