The Government delivered its annual budget speech for 2021 – 2022 Financial year. This exercise sets out the economic objectives, policies and strategy. As Mauritius depends heavily on foreign income, the need to have a sound and effective investment policy is essential. From 2001, the island opened its doors to foreign capital and expertise; since then it has been fine-tuning, adapting and revamping its immigration policies, which support the investment incentives.

Several changes have been brought to the available immigration and investment schemes, revamping the actual dispositions to make them more attractive to those who want to relocate, invest, retire or work in Mauritius. We provide, below a highlight of the new measures:

• A Premium Investor Permit : new scheme which allows investor to negotiate his incentives
• Professional Occupation Permit (Employment) is now available for 10 years (previously 3 years)
• Dependent children age limit has been removed (previously 24 years old)
• Medical devices & pharmaceutical manufacturing get a 3% tax rate instead of 15%
• Foreign students can get a 10 year permit for employment after graduation
• Self-employed are able to register a one-man company and employ administrative personnel (not possible in the past)
• Spouse of Occupation permit holders are able to invest or work without the need for a distinct permit
• Applicants for permits can enter the island on tourist visa. Business visa is no longer compulsory

If you have any question on the new rules, please do get in touch with our team.

Email : info@gibsonandhills

http://www.gibsonandhills.com