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Mauritius to adopt new strategy to open up to the world

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Port Louis, Mauritius, August 5  (Infosplusgabon) – Mauritian Prime Minister, Pravind Jugnauth, on Tuesday night, told parliament that the government is working on a new strategy to open the Mauritian economy to the world using a four-pronged approach, we  learnt from parliamentary sources.

 

 

Mr Jugnauth said this strategy will provide more certainty to existing investors and their families who choose to relocate to Mauritius despite the COVID-19 situation and take business risks.

 

The strategy will retain successful investors and professionals and encourage them to further invest in Mauritius as well as boost the economy; attract new talents and investment to the country; and encourage non-citizens who have already acquired property in Mauritius to contribute to the economy by exempting them from the requirement to apply for a work permit or an occupation permit to work in the country.

 

The Prime Minister cited several other measures that will be implemented Economic Development Board (EDB).

 

He said the validity period of an Occupation Permit and Residence Permit in respect of a retired non-citizen will be increased from three years to 10 years; and Occupation Permits for Investors and Self Employed and Residence Permits as Retired non-citizen which are valid as of 1 September 2020 will be extended from three years to 10 years.

 

The others are the validity period of a Permanent Residence Permit will be extended from 10 years to 20 years; the minimum investment criteria to be eligible for a Permanent Residence Permit for Investors will be reviewed from US$500,000 to US$375,000; and the minimum purchase price for non-citizens to acquire an immovable property under the Integrated Resort Scheme, Real Estate Scheme, Invest Hotel Scheme, Property Development Scheme or Smart City Scheme will be reviewed from US$500,000 to US$375,000.

 

 

FIN/ INFOSPLUSGABON/PLM/GABON2020

 

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