Let's talk about 2020-2021 Mauritius budget

Hello everyone,

As many heard, the Prime Minister of Mauritius made a declaration about the future budget of Mauritius.

here are the highlights of this new budget :

BUDGET HIGHLIGHTS FOR IMMIGRATION

- The Work Permit and Residence Permit will be combined into one single permit.
- Validity of an Occupation Permit (OP) and a Residence Permit for retirees has been extended to 10 years renewable.
- The minimum investment amount for obtaining an OP will be reduced from USD 100,000 to USD 50,000.
- The minimum turnover and investment requirement for Innovator Occupation Permit are being removed.
- The spouse of an OP holder will not need a permit to invest or work in Mauritius.
- OP holders will also be allowed to bring their parents to live in Mauritius.
- The EDB will be the only agency responsible to determine and recommend applications for the OP.
- Professionals with an OP and foreign retirees with a Residence Permit will be able to invest in other ventures without any shareholding restriction.
- Non-citizens who have a residence permit under the various real estate schemes will no longer require an Occupation or Work Permit to invest and work in Mauritius.
- The Permanent Residence Permit will be extended from 10 to 20 years.
- OP and Residence Permit holders will be eligible to apply for a Permanent Residence Permit if they have held the permit for three consecutive years.

What do you think about it? Does it change anything for you?

We will be Glad to have your feedback on it.

Regards.

Loïc
Expat.com Team.

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