Attracting foreign capital has always been a major focus in the economic development strategies of many countries including Mauritius. To lure investors from overseas, the country offers various incentives, such as tax breaks on foreign investment opportunities in Mauritius.
The country has also joined other jurisdictions in wooing capital from overseas through investment programmes providing residency benefits for investors. The country stands competitive versus other countries offering residency by investment. This competitiveness manifests in the significant volume of foreign direct investments in Mauritius in recent years (USD472.3 million in 2019).
For comparison, below is a glimpse at how Mauritius and some countries go about in their offers of residency by investment.
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Mauritius
Property purchases under the government’s real estate development schemes at a minimum price of USD375,000 grants foreign buyers permanent residency. This price threshold is notably a reduction from the former USD500,000 minimum. Non-citizens who got permanent residency under the real estate schemes won’t need a permit to invest and work in Mauritius.
The country also extends the same privileges to non-citizens tapping other investment opportunities in Mauritius. Residency status is granted to foreigners investing a minimum of USD500,000 in any of nine business activities. These include manufacturing, information technology, financial services, hotel and tourism, freeport operations, fishing and marine resources, and agro-based industry.
A two-bedroom apartment in Ki Resort priced from USD375,000 opens permanent resident status in Mauritius.
Antigua and Barbuda
The Caribbean jurisdiction of Antigua and Barbuda offers residency to foreigners under its citizenship-by-investment programme. This scheme requires investing at least USD1.5 million in a business in the country. Joint investments of at least USD400,000 per investor is also allowed provided the whole outlay totals at least USD5 million.
The programme also offers residency and citizenship to foreign investors in government-approved real estate developments. The required investment amount starts from USD400,000, and the investor must hold the property for at least five years.
Malta
Malta grants permanent residency to foreign investors purchasing a real estate property priced at a minimum t of EUR300,000 (USD350,000). The investor is also required to make a fixed deposit investment of EUR30,000 (USD35,000) in a Cyprus bank.
To acquire citizenship in Malta, the country requires a minimum property investment of EUR2 million (USD2.3 million). To apply for citizenship and permanent residence permit, the investor has to visit the island to register biometrics.
Portugal
Investors eying residency in Europe have Portugal amongst their choices. The Portuguese windows for the privilege include EUR500,000 (USD584,000) minimum real estate investment.
Resident status also comes with a minimum foreign investment of EUR350,000 (USD409,000) in a Portuguese cultural/scientific research project. Foreigners investing a minimum of EUR1 million (USD1.17 million) in Portugal’s bonds or stocks, on the other hand, are eligible for a Portuguese Golden Visa.
Key takeaway
The real estate investment opportunities in Mauritius granting residency status to foreign investors appear at more attractive price points. More so that the country holds plenty of prime property developments as choices for investors. Contact 2Futures for the pick that would give you the most out of investing in Mauritius.
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