10-year Family Occupation Permit

Ceresiet wrote:

Can anyone give us clarity or more insight on the 10-year Family Occupation Permit announced by the Minister of Finance Renganaden Padayachy during the presentation of the 2021-2022 Budget on Friday, June 11 ?


One source says:
"These are some of the flagship measures aimed at encouraging the opening of the country to foreigners. A 10-year Family Occupation Permit will be available for those who contribute at least Rs 250,000 to the Covid-19 Projects Development Fund."

https://www.expat.com/en/expat-mag/5595 … idity.html



the other says: "• A 10-Year Family Occupation Permit will come into effect, for those contributing USD 250,000 to the COVID-19 Projects Development Fund"

https://www.privateproperty.co.za/advic … -2022/8198



Which is it?    Rs 250 000 is about the amount that same family will spend before 30 Sept if they have to pay for 2 weeks full board in a quarantine hotel on the island.

the other amount is 42.6 times as much:

USD 250 000 is two thirds of the USD 375 000 minimum spend requirement on a property in one of the expat schemes - another popular method of gaining the same Occupation Permit (which has also now been improved to 10 year residence for a whole family - 3 generations including parents and children).

Dear Ceresiet

USD 250,000 news is not correct.  I do not know from where it started appearing. But one this is sure that it is not correct.

Getting visa by investment of US$ 375,000 or more is correct.

There are 3 main types of visa.
A. Job (you need to get a job before coming to Mauritius).
B. Business (Investment is almost zero but you should have funds US$100,000 in your Mauritius bank account and you need to setup a company in Mauritius to do business)
C. Investment (Investment in property for US$ 375,000 or more)

These are generic details. Your needs may be unique because every person has his/her preferences, needs and requirements.

I don't suggest you to share your private profile at this public platform. To ensure your secrecy, please share your email to me in private message. I will help you further, my friend.

Regards

Shammi
July27, 2021

Thanks Shammi,

I quote another source to corroborate the USD 250 000   10-year Family Occupation Permit:

https://www.fragomen.com/insights/alert … orthcoming

on the left hand side of the table, scroll down to the 8th point from the top entitled
"New Occupation Permit category"

A new 10-year Family Occupation Permit (FOP) would be created for those contributing at least USD 250,000 to the COVID-19 Projects Development Fund. 

The new permit will enable Mauritius to gain more revenue to fund the country’s COVID-19 development-related projects.



any comment on this ?

Ceresiet wrote:

Can anyone give us clarity or more insight on the 10-year Family Occupation Permit announced by the Minister of Finance Renganaden Padayachy during the presentation of the 2021-2022 Budget on Friday, June 11 ?


One source says:
"These are some of the flagship measures aimed at encouraging the opening of the country to foreigners. A 10-year Family Occupation Permit will be available for those who contribute at least Rs 250,000 to the Covid-19 Projects Development Fund."

https://www.expat.com/en/expat-mag/5595 … idity.html



the other says: "• A 10-Year Family Occupation Permit will come into effect, for those contributing USD 250,000 to the COVID-19 Projects Development Fund"

https://www.privateproperty.co.za/advic … -2022/8198



Which is it?    Rs 250 000 is about the amount that same family will spend before 30 Sept if they have to pay for 2 weeks full board in a quarantine hotel on the island.

the other amount is 42.6 times as much:

USD 250 000 is two thirds of the USD 375 000 minimum spend requirement on a property in one of the expat schemes - another popular method of gaining the same Occupation Permit (which has also now been improved to 10 year residence for a whole family - 3 generations including parents and children).

FWIW this is part of the new Regulatory measures mentioned in the budget
This is a new category of OP:
New category of OP: A 10-year family OP for those contributing USD 250,000 into the COVID-19 Projects Development Fund.

as far as the expat magazine of Rupees, this MUST be a typo  if it is written by a Mauritian - just a question of habit 
Correct Rs 250,000 is peanuts for an expat !

Wow that’s great how do I go ahead with this option. Please only professionals.

@fiona74 please note that, to obtain the 10-year Occupation Permit for your family,  the USD 250 000 will be a Donation to the Mauritius COVID-19 Projects Development Fund, i.e. you will not get your money back.

Is it not better then to go for the (50% higher) amount of USD 375 000 (roughly MUR 16 000 000) to buy a property in one of the Expat housing schemes then the investment remains your own and will hopefully grow until one day maybe you decide to resell that property again ?


below is a summary of the amendments to the OP (Occupational Permit) and RP (Residential Permit) proposed in the new 2021/2022 budget.

If you do decide on any one of the options, the necessary forms and checklists of required supporting documents are all available on the website of the EDB (Economic Development Board):

https://www.edbmauritius.org/work-and-Live-in-Mauritius  (use the tabs at the top of that page)



Occupation Permit:

Extension of the validity period for Professionals from 3 years to 10
years.

Exemption from the application of an OP or work permit for Spouses
of OP holders investing or working in Mauritius.

Waiving of the maximum age limit of 24 years for dependents.

Introduction of a new category - the 10-Year Family Occupation Permit
for those contributing USD 250,000 to the COVID-19 Projects
Development Fund.

Setting up of a dedicated concierge service to investors and retirees
entering Mauritius.

Setting up of a privilege club scheme (privilege access to hotels, golf
courses, restaurants, private medical institutions, amongst others).

EDB will develop a dedicated website for marketing the different
residency schemes available for non-citizens, fitted with systems for
applying relevant residency permits.

A Smart Card will replace the current paper-based Occupation Permit.

Non– citizens holding an Occupation Permit as a Professional will be
given the flexibility to switch job without having to submit a new
application provided the minimum criteria are met.

Non-citizens holding an OP as self-employed will be allowed to
incorporate a one-man company and employ administrative staff.

The criteria for young professional Occupation Permit will be reviewed
and the list of qualifying activities will be removed.

Where an application for an Occupation Permit requires views and
recommendations of a ministry or public sector agency, the latter
shall within 5 working days submit its views or recommendations to
the EDB or else silent is consent principle will apply.

The monthly salary applicable for an Occupation for professionals in
financial services will be brought down to Rs 30,000 (limited only for
fund accounting and compliance services by a company holding a
license from the FSC, and the professional will need to have at least 3
years relevant work experience).

The requirement for OP applicants to arrive in Mauritius on a business
visa to be issued with a permit to be waived.

A non-citizen who purchases or otherwise acquires an apartment
used, or available for use, as residence, in a building of at least 2 floors
above ground floor, provided the purchase price is not less than USD
375,000 will be issued with a residence permit, including for his
dependents, and exempted from the requirement of a work or
occupation permit.


Permanent Residence Permit

Holders of a 10-Year Permanent Residence Permit will have the validity
automatically extended to cover a 20-Year period.

Holders of a Permanent Residence Permit will be able to renew their
permits and they will be given the flexibility to switch category
between investor, professional and retired.

@fiona74 this is correct. I could assist you with finding an investment for $375000 directly from the developers.