Foreign investment in certain types of tourism accommodation, notably guesthouse and tourist residences, are subject to discriminatory minimum capital/investment requirements.
"INTRODUCTION
This Application Guide defines the process to be followed when seeking a a Letter of Approval from the Ministry of Tourism.
[...]
PROJECTS INVOLVING NON-CITIZENS:
A non-citizen is not allowed to invest in and to manage a guesthouse or tourist residence.
A non-citizen is only allowed to manage residential property as Tourist Residence under the following schemes:
i. Integrated Resort Scheme;
ii. Real Estate Scheme;
iii. Property Development Scheme and should satisfy the following criteria:
i. An individual owner of a residential property under IRS/RES/PDS cannot rent except if the application is made by the IRS/RES/PDS Company or a Property Management Company designated by the IRS/RES/PDS Company.
ii. The non-citizen must have a track record in management and show evidence of previous managerial positions held in similar establishments.
iii. Except for the Managing Director, all employees should be locals." (Application Guide, Issue of Letter of Approval by the Ministry of Tourism for projects with respect to the Accommodation Sector, 2017)
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"A. IMPORTANT NOTE
1. *New Guesthouse / Tourist Residence means project proposal for construction of new guesthouse/tourist residence or conversion of an existing building into guesthouse/tourist residence
2. *Existing Guesthouse / Tourist Residence means a guesthouse/tourist residence holder of a valid Tourist Accommodation Certificate from the Tourism Authority
3. The acquisition of an immovable property by a non-citizen is governed by the provisions of the Non-citizens (Property Restriction) Act. Pursuant to section 3(3)(iv) of the Act, a non-citizen who intends to acquire an immovable property for business purpose, including a guesthouse or tourist residence, requires an authorisation from the Economic Development Board (EDB) prior to signing the deed witnessing the transfer of the immovable property.[...]
5. For investors wishing to acquire shares within a company that does not hold any immovable property, the minimum investment shall be at least Rs 10m.[...]
B. ELIGIBILITY CRITERIA
8. A non-citizen cannot submit an application to acquire or lease a guesthouse or tourist residence unless:
a. the non-citizen is a company incorporated under the Companies Act 2001
b. the non-citizen holds a letter of no objection in respect of the project proposal from the Ministry of Tourism
c. the minimum investment, excluding land cost, in the acquisition or lease of an existing guesthouse or tourist residence, shall be at least Rs 10 million
d. the minimum investment, excluding land cost, of developing a new guesthouse or tourist residence shall be at least Rs 30 million. [...]
D. Management
11. Management must be tied up with investment. However:
a. In case the investor has no managerial expertise, a local Manager shall be appointed.
b. In case the investor will also act as the manager, he must show a track record in management and show evidence of previous managerial positions held in similar establishments abroad for at least 5 years.
E. Local staff
12. Except for the owner/Manager, all other employees should be locals. [...]" (Policy on Investment by a non-citizen in a NEW / EXISTING * and MANAGEMENT of a stand-alone (not within IRS/RES/PDS) Guesthouse/Tourist Residence, 2019)
Application Guide, Issue of Letter of Approval by the Ministry of Tourism for projects with respect to the Accommodation Sector, 2017;
Policy on Investment by a non-citizen in a NEW / EXISTING * and MANAGEMENT of a stand-alone (not within IRS/RES/PDS) Guesthouse/Tourist Residence, 2019
[<a href="http://www.tourismauthority.mu/userfiles/file/Application%20Guide%20for%20processing%20of%20projects%20approved%20by%20Minister%2012%20oct%202017%20MT%2040%20158%205%20V5.pdf">Guide</a>],[<a href="http://www.tourismauthority.mu/userfiles/file/Final%20Policy%20Paper%20Investment%20by%20Non-Citizen.pdf">Pol</a>]