Mauritius is a sought-after destination for investors and entrepreneurs around the world. The country has a dynamic economy and is the country that has the most conducive business ecosystem in Africa, ranking 13th (1st in Africa) on the World Bank’s Ease of Doing Business Report 2020. Discover what makes Mauritius the leading business and investment hub for the region.
A conducive business and trading hub
Mauritius is the jurisdiction of choice for doing business. It allows for cross-border investment and has Trade agreements with a number of African and Asian countries.
Concisely, this means that having a Trading or Freeport company in Mauritius will open-up to a potential market of billions of customers of countries from both continents, allowing them to export goods and services and give preferential market access to Mauritius.
You can establish various types of business structures in Mauritius such as Global Headquarters, Trust and Foundations, as well as Investment Funds. Below is a few advantages that come up with setting up your business in Mauritius:
- No exchange control, which means that free repatriation of funds is possible;
- No capital gains tax;
- Imports and exports have no customs duty from commodities having an authentic SADC certificate of origin;
- 5 year tax holiday for Mauritian firms collaborating with the Africa Fund for the development of infrastructure in the Special Economic Zone ;
- Full foreign ownership;
- Political and economic stability;
- No taxes on dividends;
- No inheritance taxes;
- A set of Double Taxation Avoidance Agreements (DTAs) with countries across Africa, Europe and Asia;
- Risk-mitigating jurisdiction; and
- A knowledgeable listing and capital-raising platform (Stock Exchange of Mauritius).
A local business consultancy firm, such as Sunibel Corporate Services, can help you establish your business and assist in the administration of your corporate structure,.
A dynamic financial services sector
The Financial Services sector is one of the major pillars of the Mauritian economy. As Mauritius is ideally located, investors looking to grow their operations come to Mauritius for their competitive fees of setting up their business, for a better return on investment and to reap the benefits of the GMT+4 timeline.
The Financial Services Commission (FSC) regulates the Financial Services industry in Mauritius. Activities that can be carried out under the purview of the FSC are:
- Non-bank financial markets (Securities Exchanges markets)
- Insurance and Pensions
- Investment Banking
- Non-Banking Financial Institutions (NBFI’s) and
- Global Business
Mauritius is a transparent and an internationally compliant jurisdiction. The authorities have implemented a conducive and dynamic business environment, attracting many international reputed companies.
Investment in Mauritius
Mauritius has a broad range of sector-specific opportunities that have high growth potential, such as renewable energy, Fintech, Ocean Economy, sustainable development, tourism, as well as health and aged care are some of these sectors.
There are financial schemes implemented by the government to encourage foreign investments. In addition to business activities, real estate also attracts investment, especially through the different real estate investment schemes in place.
Indeed, many investors and foreigners invest in luxurious properties in Mauritius as they are allowed to buy, sell and rent it.
The acquisition of a property, worth, at least USD 375,000 in dedicated real estate projects, by a foreigner grants the latter to the residence permit.
This permit allows the dependent spouse, children and/or retired parents of the principal applicant to live and establish their tax residence in Mauritius.
If abroad, the owner still can make take advantage of his real estate asset renting same. Mauritius being an internationally recognised tourist destination, property owners have the opportunity to generate significant short-term rental income.
A highly skilled and bilingual workforce
Mauritius has a pool of highly qualified and bilingual workforce. The official language of Mauritius is English, but the majority of the population also speaks French. Therefore, speaking both languages in the corporate world is common.
The literacy rate in Mauritius is over 91%. Most workers hold undergraduate and postgraduate qualifications, and many are internationally qualified from international universities from Europe or North America.
The ICT/BPO sector also represent a significant sector of the Mauritian economy. There are over 500 IT companies in Mauritius providing IT outsourcing services, as well as software and application development, to multinationals from all over the world.
Mauritius is a cost-efficient jurisdiction, further attracting international companies to do business in the island.
A vibrant and unique lifestyle
While the corporate environment on the island may attract investors and entrepreneurs, Mauritius also attracts expatriates and tourists from all around the world, as it is renowned for its beaches and warm climate throughout the whole year.
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There is a wide array of facilities that will make you feel like you are at home, including:
- International boarding primary and secondary schools, as well as tertiary institutions (English and French);
- Modern healthcare facilities at a reasonable price ;
- Shopping complexes with various international brands ;
- Recreational and sporting amenities;
- Safe city cameras operation around the island for improved security;
- Luxurious properties to rent or buy (villas, apartments and penthouses);
- Many restaurants;
- Modern and state-of-the art Infrastructure; and
- Wide range of land and sea activities.