As from September 2, 2020, the Occupation Permit scheme as investor allows for:
Initial investment of USD50,000 instead of USD100,000.
For existing businesses, net asset value of USD 50,000 and cumulative turnover of Rs12m for the last 3 years.
Rs 4m per year from the 3rd year for renewal.
Occupational Permit as investor and self employed, and Resident Permit as retired non-citizen issued for a period of 3 years and valid on 02 September 2020 will be extended for a period of 10 years as from the date of expiry.
Occupational Permit as professional and Retired Permit as retired non-citizen may invest in any business provided that he:
is not employed in the business.
does not manage the business.
does not derive any salary/employment benefits from the business.
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