Let’s Talk About the Investor Visa for Madagascar

Demand from residents of OECD nations for a cheaper Plan A lifestyle or a Plan B is strong and rising.  Madagascar checks the boxes but flies under the radar largely because its bureaucracy is hard to navigate – Click here.  

Here’s a breakdown of visa options for Madagascar:

Short-term visas (e-visas):

• Tourist e-visa: For stays up to 60 days.
• Business e-visa: For business-related activities.  Type D is between 3 months to 12 months only
• Transit e-visa: For travellers passing through Madagascar.

Long-term visas (regular visas):

• Work Visa: For those employed in Madagascar.
• Investor Visa: For high-net-worth individuals investing in Madagascar – this is what we promote
• Retirement Visa: For retirees.
• Family Visa (Spouse/Family Reunion): For family members joining residents.

Other visa types:

• Tourist Visa: For leisure activities.
• Film/Media Visa: For film and media projects.
• Scientific Research Visa: For scientific research activities.
• Missionary Visa: For religious missions.
• Yachting/Boat Sailing Visa: For those engaged in yachting or boat sailing.
• Student Visa: For students enrolled in educational institutions in Madagascar.

Let’s talk about the Investor Visa

It is arguably the only effective long stay option for those who are not yet retired.  Even for retirees, the bureaucracy in proving retirement income makes the investor visa, faster and cheaper than even that option.

To apply for an investor visa for Madagascar, you’ll need to demonstrate a significant investment in the country, typically involving a substantial financial commitment and job creation. The process involves submitting a visa application, providing financial and business-related documentation, and potentially attending an interview.

Here’s a breakdown of the general process and requirements:

1. Eligibility and Investment:

• Minimum Investment:  Madagascar does not have a publicly stated minimum investment amount for the investor visa. However, it’s generally understood that a substantial investment is required, often involving a large capital injection and the creation of jobs for local residents.
• Job Creation:  A key aspect of the investor visa is demonstrating a commitment to creating jobs for Malagasy citizens. The number of jobs created will be a factor in the evaluation of your application.
• Financial Capacity: You’ll need to prove your financial ability to support your investment and your own living expenses in Madagascar.

2. Application Process:

• Online Application: You can start the process by visiting the official Madagascar e-visa portal
• Document Submission: Gather and submit all necessary documents, including:

• • • Valid Passport: Ensure it’s valid for at least six months beyond your intended stay.

• • • Completed Application Form: Fill out the application form accurately and completely.

• • • Passport Photos: Provide recent passport-sized photographs.

• • • Proof of Investment: Provide evidence of your investment, such as bank statements, business plans, or registration documents.

• • • Business Plan: A detailed business plan outlining your investment project, its potential impact, and job creation plans.

• • • Financial Documents: Demonstrate your financial capacity to support the investment and your living expenses.

• • • Accommodation Proof: Provide evidence of your planned accommodation in Madagascar, such as a hotel reservation or rental agreement.

• • • Invitation Letter (if applicable): A letter from a Malagasy business entity inviting you for investment purposes.

• Fees: Pay the required visa application fees.   The administrative fees payable to the EDBM depends on the length of stay granted, according to the table below (as of April 2025):

• Review and Approval: The relevant authorities will review your application, and you will be notified of the outcome.

3. Additional Considerations:

• Vaccinations: Check if any vaccinations are required, particularly for yellow fever, depending on your travel history.
• Local Laws and Regulations: Familiarize yourself with Madagascar’s laws and regulations regarding foreign investment and business operations.
• Consult with Experts: Consider consulting with legal and immigration professionals in Madagascar to ensure a smooth application process.

Setting Up a Company

Limited Liability Company (SARL)

Number of partners: minimum one shareholder and one director (which may be of any nationality), maximum 100. It must have a resident representative.
Capital (max/min): No minimum capital required.
Shareholders and liability: liability is limited to the shares

Limited Company (SA)

Number of partners: minimum one shareholder and one director, which may be of any nationality. It must have a resident representative.
Capital (max/min): MGA 10 million (MGA 2 million in case of a singe shareholder)
Shareholders and liability: liability is limited to the extent of the shareholders contributions

Single Member Limited Company

(SA Unipersonal)

Number of partners: one natural person
Capital (max/min): No minimum capital required.
Shareholders and liability: liability is unlimited

EDBM

The creation of a company in Madagascar benefits of a unique office, the Guichet Unique, a service offered by the Economic Development Board of Madagascar (EDBM).

Source: Doing Business.

Working Conditions

Legal Weekly Duration

The legal employment’s duration is forty hours per week.
A rest day per week is mandatory (generally on Sunday), and it has to consist of at least 24 consecutive hours (art. 80 of the Labour Code).

Retirement Age

Age 60 (55 for merchant seamen) with at least 15 years of coverage, including at least 28 quarters of contributions in the last 10 calendar years.
For partial pension, the legal age is 60 (55 for merchant seamen) with at least 60 quarters of contributions if the insured has less than 28 quarters of contributions in the last 10 calendar years.
The insured may continue to work up to five years after the legal retirement age to meet the contribution requirements.

Working Contracts

According to art. 7 of the Labour Code, working contracts must be in written and include the tasks, the professional category, the salary and the date of start of the contract. In case the contract is not in written, the working relationship can be proved by any means.
Working contracts are exempted from stamp duties.

Labour Laws

Consult the Labour Code, to obtain a summary of the labour regulations that apply in Madagascar.

Cost of Labour

Minimum Wage

The minimum wage was MGA 200,000 per month in 2019 (ILO, latest data available).
However, the vast majority of the population is active in the informal sector, so does not necessarily benefit from the legal minimum salary.

Average Wage

Salaries in Madagascar differ drastically between different jobs. Visit VotreSalaire.org to consult the average wages for the type of profession (in French).

Social Contributions

Social Security Contributions Paid By Employers:

18% of monthly salary of which:

• 13% for the National Pension Fund (capped to a monthly maximum of 13% of eight times the legal minimum salary)
• 5% for the statutory health organization

Social Security Contributions Paid By Employees: 2% of the monthly salary of which:

• 1% to the National Pension Fund
• 1% to the statutory health organization

Both capped at a monthly maximum of 1% of eight times the legal minimum wage.

Social Partners

Social Dialogue and Involvement of Social Partners

The law in Madagascar allows public and private sector workers to establish and join labour unions of their choice, without prior authorization or particular requirements (nevertheless, essential workers, including police, military, and firefighters, may not form unions; and civil servants have a different labour code). Formally, unions operate independently from government and political parties.
Workers in the private sector have the right to bargain collectively. However, more than 80% of workers are engaged in agriculture, fishing, and forestry at a subsistence level, and therefore have no access to unions.
In general, collective bargaining rights are more readily exercised and respected in larger international firms, whereas in smaller local companies employees tend to be more reluctant to make demands for fear of reprisals.

Labour Unions

Christian Confederation of Malagasy Trade Unions (SEKRIMA – Confédération chrétienne des syndicats malgaches)
United Autonomous Unions of Madagascar (USAM – Union des Syndicats Autonomes de Madagascar)
Confederation of Malagasy Workers (FMM – Fivondronamben’ny Mpiasa Malagasy)

Unionisation Rate

Less than 10%, although no official figures are available.

Labour Regulation Bodies

Ministry of Public Function and Labour (Ministère de la Fonction Publique, de la Réforme de l’Administration, du Travail et des Lois Sociales)