Mauritius

April 10, 2014

The State Intends to Review the Law on Permanent Residence Permits

"The law is too open, we want to review it." Navin Ramgoolam answered Tuesday, April 8, to Rajesh Bhagwan during the parliamentary session. Mauve member wanted to know the number of Permanent Residence Permits granted to foreigners since 2005.

These permits are entitled to live and work in the territory for 10 years, but also the right to purchase real estate. The Prime Minister said that 86 foreigners have received the permit since 2012. He further pointed out that between 2000 and 2005, when the opposition was in power, "a substantial number" of permits were distributed. 

Since the early 2000s, several amendments were made to the Immigration Act by the various governments to facilitate the arrival of wealthy foreign investors in the territory. The last amendment to this law was made last year. 

The conditions for the granting of Permanent Residence Permit include, among other things, an annual turnover of more than Rs 15 million for the business of the foreign investor who makes an application. A "self-employed non-citizen" will meanwhile earn more than Rs 3 million annually over a period of 3 three years, while a retiree must transfer 40 thousand U.S. dollars to his account in Mauritius every year for three years . 

The Permanent Residence Permit is not granted to homebuyers IRS or RES. They have a Occupation Permit, which allows them to work and live in Mauritius, but not to buy land and property.

The Prime Minister announced new amendments to the Law on Permanent Residence Permit.The aim will be to better control the arrival and stay of these investors on the Mauritian ground, he said. 

 

Text by lexpress.mu
 

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