Mauritius Introduces Golden Visa Requiring $1 Million Investment

The government of Mauritius has announced a golden visa program allowing high-net-worth individuals to relocate to the island nation in the Indian Ocean. Approval requires a minimum investment of $1 million in the country within 12 months of arrival.

The country offers no inheritance or capital gains tax and a flat 15% income tax rate that can be lower with allowances. Officials said the program follows a similar initiative announced in the United States. President Trump said a path to citizenship would be offered to individuals who pay $5 million for a gold card that functions similarly to the current green card for high-level people.

Trump labeled the offering a bargain while Commerce Secretary Howard Lutnick said the gold visas would replace current visa programs for foreign investors. More concrete details on the U.S. program have yet to be announced. Lutnick confirmed that only one person has been approved for the new visa format thus far.

Officials stated that the nation's economic development board has received multiple inquiries from foreigners interested in relocating with their families. To respond to this demand, the government is introducing a golden visa limited to about 100 people a year.

Successful applicants, their spouses and dependent children will receive visas allowing multiple entries. Applicants must sign a written undertaking to invest $1 million within 12 months. The economic development board will closely monitor the progress of these investments.

Officials added that a dedicated concierge service has been established to support relocating businesses.

The objectives of the golden visa scheme are to encourage high-net-worth individuals to relocate physically with their families. The aim is to maximize economic benefits through long-term stays and to encourage relocation of funds and investments into different sectors of the economy.

Mauritius covers an area of less than 800 square miles with a population of approximately 1.26 million. Officials explained that golden visa holders will only be allowed to acquire residential property under development schemes including hotels. Initially, visa holders would live in hotels or rent residential properties.

Officials stated there is spare capacity in the high-end property rental market to accommodate these individuals without affecting housing affordability for citizens. Members of parliament raised concerns that unscrupulous individuals might attempt to use the scheme.

Officials responded that a robust risk-based due diligence framework is already in place aligned with anti-money laundering and combating the financing of terrorism standards.