Obtaining citizenship through investment programs has become an increasingly popular option for high net worth individuals looking to secure a second passport. One citizenship by investment program that is rising in popularity is the Mauritius Citizenship by Investment program. In this article, we will provide an overview of the key details and benefits of obtaining Mauritius citizenship by investment.
Overview of the Mauritius Citizenship by Investment program
The Mauritius Citizenship by Investment program was launched in 2015 and provides a pathway for foreign investors to obtain Mauritius citizenship through either a contribution to the country’s National Development Fund or an investment in an approved real estate project. To qualify, main applicants must be at least 18 years old, meet the application requirements, and make a qualifying investment of at least $500,000. The process typically takes around 6-8 months from submission of the application to approval.
Benefits of Mauritius citizenship
There are several benefits that come with obtaining Mauritius citizenship by investment:
– Visa-free or visa-on-arrival access to over 140 destinations including key business and travel hubs like the UK, EU Schengen area, Hong Kong, and Singapore. This provides increased travel freedom.
– Mauritius has an efficient taxation system with no capital gains or inheritance tax. This makes it an attractive option for wealth management purposes.
– Ability to legally reside in Mauritius, which is known for its luxury real estate, idyllic lifestyle, and business-friendly environment.
– Citizenship is granted for life and can be passed down to future generations by descent.
– Dual citizenship is permitted without any residence requirements, providing flexibility to maintain current citizenship(s).
– Quick and straightforward application process compared to many other investment migration programs.
Application process and requirements overview
The Mauritius citizenship by investment application involves submitting required documents, making the investment, undergoing due diligence checks, and awaiting approval. Here is an overview of the key steps:
– Choose investment option (National Development Fund contribution or real estate investment)
– Engage a licensed agent to prepare and submit application
– Provide required documents (identification, police certificates, medicals, proof of funds etc.)
– Make the investment of at least $500,000
– Complete due diligence checks on source of funds and the applicant
– Await approval from the Mauritius Economic Development Board (typically within 6-8 months)
– Obtain certificate of registration and take oath of allegiance
– Apply for and obtain biometric Mauritius passport
The main applicant as well as dependents such as a spouse and children can be included in a single application. Professional advice is recommended when navigating the process.
The Mauritius Citizenship by Investment program provides foreign investors an efficient route to acquiring Mauritius citizenship within a relatively short timeframe. With benefits like expanded travel freedom, advantageous tax regime, and high standard of living, it is an attractive option for those seeking a second citizenship.