Options to obtain temporary and permanent residence

KatinkaT

Member

Member since 23 September 2018

Grand Baie, Rivière du Re

KatinkaT

23 September 2018 16:30:37

KatinkaT

23 September 2018 16:30:37

Grand Baie, Rivière du Re

Hi all,

My name is Katinka Theron. I was born in South Africa and is now a Namibian citizen, residing in Namibia. I have 30 years experience in various fields and can operate on management level. These fields included chemistry, metallurgy, logistic for mining/processing plants and liaison and networking on all levels in these disciplines. However, I would rather prefer to start a business. I am a single mom, and my youngest son will be matriculating in 2020.

I am currently in Mauritius, until 5 October. The sole purpose of my visit is to do some fact finding about getting residence (temporary or permanent), i.e options for business opportunities, property invesment, etc. I have been here for a few days, and the information I gathered so far, is that it is nearly impossible, due to the cost of property or the regulations about how much a business should earn for a temporary residence permit to be renewed. There is also a minimum amount required to be earned if you work as expat.

Can someone maybe direct me to a site that has the correct details in a "user friendly" version 🤔

Another question I have. Mauritius is a SADC country, but how does it work to get your money from Namibia to here?

I will appreciate any input. At this point I am quite discouraged and more confused than ever.

Thank you

WinstonH

VIP Member

Member since 26 March 2016

Gros Bois, Grand Port

WinstonH

23 September 2018 20:45:08

910

WinstonH

23 September 2018 20:45:08

910

Gros Bois, Grand Port

Hi Katinka,

Here's the website of the Economic Development Board, the official body under the aegis of the Government of Mauritius that oversees expat permits and foreign investment.

http://www.edbmauritius.org/work-and-live-in-mauritius/

Several avenues exist for an expat to live and work in Mauritius - investor, self employed, professional employment, retirement or property investment.

The conditions are not that stringent in the sense that they are imposed to ensure a minimum amount of investment and transfer of knowledge and competency to the island without affecting local employment or business.

An investment of at least $500,000 in a property located in an 'Integrated Resort Scheme' will grant you a resident permit as long as you own the property.

As an investor, self employed or professional, their are minimum investment, turnover and minimum salary benchmarks for each category that have to be met each year for a period of 3 years. After that, you can apply for a permanent permit which is in reality 10 years.

If you want to start a business and looking to employ people, you will have to seek an 'Investor' permit.

Here's an extract from the website regarding the different modalities of the Investor permit.

>
A non-citizen is eligible to apply for an Occupation Permit as Investor provided they satisfy any of the following conditions:

An Initial transfer of USD 100,000 and the business activity should generate an annual turnover of at least MUR 2 million for the first year and cumulative turnover of at least MUR 10 million for the subsequent two years.

An existing investor with a net asset value of at least USD 100,000 and a cumulative turnover of MUR 12 million during the preceding 3 years with a turnover of at least MUR 2 million in any one year.

An individual who has inherited a business in case of death or incapacity of the previous investor provided that the net asset value of the business is at least USD 100,000 and a cumulative turnover of MUR 12 million with a turnover of at least MUR 2 million in any one year.

An Investor who intends to bring in high-tech machinery and equipment as part of the investment of USD 100,000, must transfer a minimum of USD 25,000 and the remaining balance in terms of high-tech machinery and equipment.

An Investor who will conduct Research and Development (R&D) in highly innovative sectors can apply for an Innovator Occupation Permit. The R&D expense component should constitute of at least 20% of total operational expenditure during the research phase. Applicants eligible to apply under this scheme will be required to make an initial investment of USD 40,000.

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Regarding transfer of money, Mauritius doesn't impose exchange control restrictions. However, I don't know about Namibia. I suggest you check with your bank.