Mauritius eyes 100 wealthy investors a year with golden visa push

Mauritius is moving to attract about 100 high-net-worth individuals each year through a new residency program designed to bring in long-term capital and spending from abroad. The initiative, known as a golden visa scheme, requires participants to invest at least $1 million within 12 months of arriving in the country.

Prime Minister Navinchandra Ramgoolam told lawmakers on Tuesday that the program followed “multiple enquiries” from foreign investors looking to relocate with their families. He said the aim is not just to grant residency, but to encourage applicants to put money into the wider economy over time.

Mauritius boosts financial hub role; shift to long-term investment stays

Authorities have outlined priority sectors for investment, including financial technology, artificial intelligence, biotechnology, and renewable energy. Officials say the goal is to spread investment activity across new industries while supporting existing growth areas tied to services and innovation. The program comes as countries compete more selectively for wealthy migrants, even as some governments tighten rules around similar visa routes.

Several European countries have already scaled back or closed such programs amid concerns about misuse. Ramgoolam said Mauritius has built in checks to manage risk, pointing to a “risk-based due diligence framework” designed to reduce exposure to money laundering and illicit financial flows. He also said the policy is not expected to push up housing costs, noting that initial stays would likely be in hotels or in properties set aside for foreign investors.

Mauritius already plays a role as a financial services hub in the region and has long attracted second-home buyers drawn to its coastline and stable legal environment. The new visa plan builds on that position, but with a sharper focus on longer stays and higher-value investment rather than short-term visits.

Policy shifts target foreign investment

The shift aligns with a broader effort to reshape the country’s tourism and investment profile. Authorities are increasingly targeting ultra-wealthy travelers, family offices, and private investors who tend to spend more per visit and stay longer. That push has been supported by upgrades in airport services, including dedicated arrivals for private aviation, alongside new luxury villas and branded residences.

At the same time, the government is balancing growth plans with climate and infrastructure pressures. A recent report from the World Bank estimates Mauritius will need $5.6 billion over the next 25 years to strengthen climate resilience and support economic reforms. Of that total, $4.2 billion is expected for climate adaptation and mitigation, while $1.4 billion is allocated to broader reforms.

The report points to risks from water stress and coastal exposure, warning that without investment the economy could lose up to 4 percent of gross domestic product by 2050. It highlights private capital’s role in closing an estimated $213 million annual financing gap as public debt remains elevated. Policymakers must attract foreign wealth, expand tourism and investment, and strengthen infrastructure for long-term growth.