- It is sovereign and independent.
- An efficiently regulated financial services centre committed to investor’s protection with a progressive regulatory framework modelled on the industry’s best practice principles and compliant to internationally accepted norms of supervision.
- Strategic time zone (GMT+4). Business can be conducted with the Far East in the morning, Europe around mid-day and USA in late afternoon.
- A committed jurisdiction cooperating with such organisations as OECD, FATF and the UN and its agencies. Guaranteed confidentiality for those engaged in legitimate business through express provision and customary laws governing relationships between banks and customers and between professionals and clients.
- No exchange control. Free repatriation of profits with no withholding tax on dividends, royalties and interests.
- Population bilingual in English and French.
- With a population of 1.2 million inhabitants. Mauritius benefits from a large pool of readily available graduates, qualified lawyers and accountants. Most Mauritian barristers have been called to the Bar both in the UK and Mauritius. Accountants are members of UK professional bodies such as the Institute of Chartered and Certified Accountants.
- Membership of the International Court of Justice, the International Centre for Settlements of Investment Disputes and the Multilateral.
- Over 40 international flights daily to major European, African and Asian cities.
- State-of-the-art telecommunication facilities and connected to the SAFE fibre optic network. Heavy investments under way to develop the country into a cyber island.
- Hybrid legal system based on English and French laws. The Highest Court of Appeal is the Privy Council in the UK.
- Well established banking institutions and an international stock exchange.
- Political stability guaranteed by parliamentary democracy based on the Westminster model.
- Mauritius has concluded a number of Investment Promotion and Protection Agreements (IPPAs).
- Investment Guarantee Agency.
- Living and administrative costs are very low.
FURTHER SALIENT FEATURES OF THE JURISDICTION OF MAURITIUS
- GBC2 are not taxable in Mauritius.
- GBC1 are subject to low tax rates.
- No withholding tax on remittance of branch profits.
- No withholding tax on interest, royalties and dividends.
- No capital gains tax.
- No limit on the carry forward of tax losses.
- Royalties, interest and service fees payable to foreign affiliates are allowed as expenses provided they are reasonable and correspond to actual expenses incurred.
- Investment tax credit of 10% for capital expenditure.
- Interest paid on deposits in Category 2 banks are tax exempt.
- No estate duty, inheritance, wealth or gift taxes.
- No stamp duties, registration duties and levy.
- Zero rated Value Added Tax for global business transactions.
A concessionary personal income tax rate at 12.5% for expatriate staff employed by a GBL1.
