Applicants’ dependents are also eligible for citizenship with an additional cost of $100,000 per family member.
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.
These latest move has been condemned by opposition leaders. Leader of the populist Rezistans ek Alternativ party, Ashok Subron, said, “The notion of nationality of a country is not a product. It has no price and is in no way a commodity.”
Applicants will have to satisfy defined criteria by the Economic Development Board (EDB) which will manage the scheme.