Mauritius offers passport, citizenship to foreigners for $1 million
London, June 20, 2018 (AltAfrika)-Mauritius is offering foreigners the chance to obtain Mauritian citizenship in exchange for a non-refundable contribution of $1m (£757,400) to the national sovereign wealth fund.
Applicants’ spouses and dependents are also eligible with an additional contribution of $100,000 per family member.
The announcement was made by the prime minister and finance minister in the country’s 2018 budget.
The Economic Development Board (EDB) is to manage the scheme, and applicants will have to satisfy defined criteria subject to relevant due diligence.
Another scheme will offer Mauritian passports in exchange for the lesser sum of $500,000 paid to the Mauritius Sovereign Fund, and $50,000 per passport for family members.
The Mauritian passport holders have access to 121 countries without visa requirements.
Critics however fear that the Island will become a haven for unscrupulous businessmen.