[Budget Speech 2015-2016] Attracting Mauritian professionals abroad

During his Budget Speech yesterday, the Minister of Finance, Vishnu Lutchmeenaraidoo, outlined some measures to encourage Mauritian professionals living abroad to come back to Mauritius.

"Our country needs you!": the minister of Finance made a strong appeal to Mauritian professionals living abroad to return to their home country. He especially emphasized the fact that the government has invested heavily in their education and their departure constitutes a great loss for Mauritius.

Therefore, the Government is introducing a series of exceptional measures to encourage them to come back. One of these is the tax exemption on their global income tax for a total period of ten years, including their income from foreign sources. They will also be exempted from the payment of customs duties of up to a maximum of Rs 2 million on the purchase of a car in Mauritius or abroad.

This scheme applies to holders of the Mauritian passports and their children, as well as to those who do not have it, and those who have worked for at least ten years abroad. Note that those who do not hold the Mauritian passport will be eligible for a permanent residence permit.

Procedures will be handled by the Board of Investment. Finally, they will also be exempt from customs duties and value added tax (VAT) upon importing their personal belongings in Mauritius.