Occupation Permit - $35K Capital Investment

Welcome on board ICTSector

I guess these two threads can help you a little bit meanwhile; I have seen it deals with the same issue you posted above.

Occupation Permits - Things have now changed, watch out!
https://www.expat.com/forum/viewtopic.php?id=69584

Occupation Permit
https://www.expat.com/forum/viewtopic.php?id=69014

Regards

Hi,

1. you must have that sum on a local bank account.

2. not necessarily. But you must bring this money to get your OP. The thing is that I don't know is how you could open a local bank account before obtaining your occupation permit.

3. no

Note that if you want to employ someone, you'll have to change your self employed OP for an investor OP, and you must bring $100,000 to do that

Hello Yud and Julien,

Thank you both for your replies to my message...much appreciated!

Julien,

Once this sum is deposited on a local bank account, must it just "sit" there for some period of time?...or, can it be used for business/living expenses? In other words, are there restrictions or rules relating to the use of these funds after they are deposited?

Also, I can see the dilemma with opening a bank account prior to having an OP...not quite sure what to make of that either.

I am hoping that someone who has recently gone through this process can share their experiences.

Thanks again,

Dale

Hi,

It is possible to open an account without an OP outside Mauritius. I opened my bank account with MCB before I could move to Mauritius from Dubai. Once I opened my account I was able to transfer my final settlement directly to my bank account from Dubai to Mauritius.

I hope this helps.

Terence

Julien wrote:

Hi,

1. you must have that sum on a local bank account.

2. not necessarily. But you must bring this money to get your OP. The thing is that I don't know is how you could open a local bank account before obtaining your occupation permit.

3. no

Note that if you want to employ someone, you'll have to change your self employed OP for an investor OP, and you must bring $100,000 to do that

The USD35K can also be accounted for in kind: equipment, machinery, office, etc.  You can obviously open a bank account in Mauritius before getting the OP. All of my clients have done it.  Terence confirms it.

Hello Nadeem and Terence,

Thank you both for your comments...much appreciated!

I think I'm making progress as far as sorting out a strategy based in part upon clarifications you both have provided.

But, certainly have a bit more research to do.

Will be back with more questions soon.

Thanks again!...with so many friendly, knowledgeable and sharing people, this Expat-Blog is a really great resource! ;-)

Cheers,

Dale