Mauritius to sell citizenship and passports to foreign investors

01Aug 2018
By Financial Times Reporter
DAR ES SALAAM
Financial Times
Mauritius to sell citizenship and passports to foreign investors

Governments in Africa and across the world make increasing Foreign Direct Investments in their countries as a matter of economic policy. Hence, many have adopted radical policies that they hope would attract investments into their economies.

One of such policies is a new policy adopted by the tiny African island country of Mauritius.

Mauritius will starting this month be offering foreigners the chance to obtain Mauritian citizenship in exchange for a non-refundable $1 million (about 2.3bn/-). For an additional cost of $100,000, foreigners can also purchase citizenship for their dependents.

These monies would be paid into the country’s sovereign wealth fund. This is the first time any country has offered citizenship in exchange for money in its wealth fund.

For foreigners who cannot afford $1 million, they can purchase Mauritian citizenship with $500,000, and also $50,000 per passport for family members.

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