By way of investment, buying a Prometheus villa automatically entitles you to a lifelong visa for permanent settlement purposes.
The Prometheus legal team will take care of your entire application process on behalf of you and your family.
Right to live in Mauritius indefinitely
Upon the purchase of a villa under the PDS scheme, a non-citizen of Mauritius automatically becomes eligible for a residence permit provided he/she has invested more than USD 500,000 or its equivalent, in any given or freely convertible foreign currency.
The acquisition of a villa under the PDS (Property Development Scheme) grants automatic resident status to the investor, and his/her spouse and any existing dependants. Citizenship becomes possible within 2-7 years, depending on your investments into Mauritius. Buying a Prometheus villa gives an owner the right to only live in Mauritius whilst they own property - within an approved Scheme such as ours. However, it does not in any way give the buyer the right to work in Mauritius or own a non-PDS property.
A residency permit granted under the PDS shall remain valid until such a time that the non-citizen (overseas buyer) ceases to own a property in Mauritius. The visa is granted for 10 years, and will be renewed every ten years.
He/she will be exempt from work and residence permits, and can also apply for PR status for his/her:
(b) Children, stepchild or lawfully adopted child (Children above the age of 18 must also make a deposit of a minimum of USD100,000 with the Accountant General in Mauritius, via bank transfer. The deposit will not bear any interests.)
(c) Next-of-Kin (The next-of-kin above the age of 18 must also make a deposit of a minimum of USD100,000 with the Accountant General in Mauritius, via bank transfer. The deposit will not bear any interests.)
(d) Wholly dependent next-of-kin of an unmarried applicant provided the number of dependents does not exceed 3.
Procedures to obtain Permanent Resident (PR) Status
The Prometheus legal team shall assist you throughout the entire process of application, purchase, tax advice and setting up of your investment. Applications for PR Status should be made on the prescribed form, which can be obtained at the Mauritius Export Development and Investment Authority, or alternatively the Diplomatic Missions and Consular Offices of Mauritius abroad.
There are two stages involved in the application process:
Stage 1: Approval in principle Investors should submit to the Executive Chairman of M.E.D.I.A. the following, concurrently:
(a) Application for approval of the investment. The Investment should be either in a qualifying business activity or in a duly approved fund.
(b) Application for approval of Permanent Residence Status for the investor, his spouse and his dependents.
Stage 2: Grant of Permanent Resident Status upon grant of approval in principle, the full amount of the investment should be effected, or alternatively, an amount of US$500,000 (or equivalent amount) should be deposited with the Accountant General, pending finalization of the investment. M.E.D.I.A. will be more than happy to provide advice as to how to complete the application formalities from start to finish.
Citizenship of Mauritius provides visa-free travel to EU-countries
The investor who becomes a permanent resident under the Permanent Residence Scheme may apply for Mauritian citizenship after meeting with the provisions of the Mauritius Citizenship Act (1968). Investors can obtain citizenship and a Mauritian Passport after 2-7 years of residence in the country. However, this is all dependent on your investment activity. Furthermore, the investor is not required to renounce their previous citizenship. It is also important to note that a Passport of Mauritius is a great travel document to have in your possession. The signing ceremony of the “Agreement between the European Community and Antigua & Barbuda; the Commonwealth of the Bahamas; Barbados; the Republic of Mauritius; the Republic of Seychelles; the Federation of Saint Kitts & Nevis on the Short-Stay Visa Waiver” took place in Brussels. As of the 29th of May, 2009, citizens of Mauritius may enter and stay without the need for visa in the territory of the European Union – provided the period of stay does not exceed three months. This also applies to citizens of the EU Member States visiting Mauritius.
There are also immigration options for professionals in the following sectors: Information & Communication Technology, Financial Services, and any other sector that has been approved by the Board of Investment. This is known as SAPES (Scheme to attract professionals for emerging sectors).