Tiny island nation unveils $1 million ‘Golden Visa’ for the wealthy—80% cheaper than Trump’s, with one catch: you’re renting

Sandy beaches, sparkling waters, a tropical evergreen forest, and balmy temperatures to match. Mauritius looks like paradise to many—and its government can afford to be picky about the people who want to make the island their home.

The Republic of Mauritius recently announced plans which might sound familiar to Americans: A ‘Golden Visa’ scheme allowing high net worth individuals to relocate to the island in the Indian Ocean.

To be approved for such a scheme, the government has announced that it would require a minimum investment of $1 million in the nation within 12 months of their arrival. The country has no inheritance or capital gains tax and a flat 15% income tax rate (with effective rates often lower due to various allowances). For someone coming from a high-tax jurisdiction like the UK, France, or parts of the US, the savings can quickly dwarf the investment requirement.

It follows in the manner of President Trump, who said a path to citizenship would be offered to individuals who could pay $5m for a ‘gold card,’ functioning similarly to the current green card for “high-level people.” Trump labeled the offering a “bargain” while Commerce Secretary Howard........

© Fortune