Mauritius—the stunning island nation in the Indian Ocean off the coast of East Africa—could be the new home of 100 millionaires from around the world thanks to a new golden visa program. During a May 5 parliamentary meeting, Mauritius’ prime minister, Navin Ramgoolam, detailed plans for the country’s new golden visa program, launched in response to “multiple inquiries” from foreigners wanting to relocate to the island with their families. Boasting white-sand beaches, crystal-clear lagoons, and biodiverse rainforests, Mauritius is a popular honeymoon destination with a multicultural population that speaks Urdu, Hindi, English, French, and Spanish—making it a natural fit for many international travelers looking to settle down in paradise.
The premise of the golden visa is simple—visa holders and their dependents (spouse and children) will be granted a renewable two-year visa in exchange for investing at least $1 million within the first year. And with this golden visa comes a list of golden perks: The ability to bring pets, to open bank accounts, and to enroll children in local private schools. Visa holders will also have a dedicated concierge service to assist with the transition, including relocating their businesses to Mauritius.
Only about 100 golden visas will be issued annually, according to Ramgoolam, and applicants must invest in “high value” industries such as financial technology, global treasury, artificial intelligence, biotechnology, and renewable energy. To enforce this, the prime minister noted that the country’s Economic Development Board (EDB) will be monitoring the progress of investments.
“The aim is to maximize the economic benefits to Mauritius through long-term stay of golden visa holders and subsequently encourage them to relocate their funds and channel investments to different sectors of our economy,” Ramgoolam said.
The application is not yet available on the government’s licensing application portal, but once it is, applicants won’t have to wait long to hear back: The application processing time will only be five days, according to Ramgoolam. That’s significantly faster than other popular golden visa programs in countries like Portugal, which can take between one and two years to receive approval.
Golden visas have generated significant controversy over concerns that they inflate local housing affordability crises and pose security and money-laundering risks. In response, Ramgoolam said the new program will be safeguarded by a “robust, risk-based due diligence framework” to prevent financial crimes. Applicants should also expect to undergo screenings and processing with agencies such as the EDB and the Passport and Immigration Office.
To mitigate potential rising housing costs, specific rental homes and hotels will be designated for the golden visa holders, who will only be permitted to invest in certain real estate opportunities. For investors looking for more flexible real estate options, Mauritius offers a list of residency-by-real-estate-investment programs, including the option to obtain a residence permit by purchasing an eligible property for at least $375,000.
If moving to Mauritius is your ideal retirement plan, retirees age 50 or older can apply for a renewable 10-year residency-by-retirement permit, provided they have at least $24,000 in their bank account. As for general travelers, the country also has a free, renewable one-year premium visa which applies to international remote workers.
