Mauritius Offshore

Comprehensive legislations have been introduced to develop the offshore activities. The Financial Services Regulatory Authority was set up in November 1992 and played a crucial role in establishing and developing the offshore sector. The Authority has adopted a professional and business friendly regulatory approach by continuously improving on its services and guiding operators to increase the competitiveness of the Mauritian jurisdiction. Modern legislations enacted include the Companies Act 2001, the Trusts Act 2001, the Financial Intelligence and Anti Money Laundering Act 2002, the Income Tax Act 1995, the Protected Cell Companies Act 1999, the Securities Act 2005, the Financial Services Act 2007, etc Several other factors have contributed towards making Mauritius a reputable offshore jurisdiction, which are:

An extensive network of Mauritian double tax treaties

Many of the structures created in Mauritius benefit from Double taxation treaties signed with other tax jurisdictions (34 countries).

Cost efficient administration

The Global Business market being very competitive, our clients enjoy high standard professional services at very cost efficient rates.

Confidentiality

Various provisions exist under the Global Business legislation that ensure protection of confidentiality with regard to Global Business Companies.

The Authorities commitment to maintaining the standard of Mauritius as a very important international finance centre

Finally it should be noted that Mauritius has never been in any blacklist of the FAFT or OECD. We are a serious jurisdiction and consider our reputation as paramount. Mauritius is in the whitelist of the G20 list of international financial centres.

Mauritius has received praise by the United States as an overall example to other African countries

Mauritius was recently cited by the U.S as an example to other African countries

Mauritius is member of various regional blocs favouring free trade

Mauritius is a member of the Southern African Development Community (SADC) and of the Common Market for Eastern and Southern Africa (COMESA). Through Mauritius investors get access to a regional market of over 500 million consumers within Africa.

Excellent Telecommunication Facilities

There are excellent telecommunication facilities. Communication has been enhanced with the availability of digital, mobile and virtual telephony, WCDMA/CDMA 3G, GPRS, WAP, ADSL,ISDN, VSAT, wireless broadband, Internet access and video conferencing facilities. Mauritius is linked to the SAT-3/WASC/SAFE fibre optic network. There is a very high bandwidth global connectivity.

Good Courier Services

Well known international courier companies are present in Mauritius including DHL, Fedex, TNT and UPS.

Presence of many good mixture of international and local banks

A blend of excellent international and local banks such as HSBC, Barclays Bank, Standard Chartered Bank, Standard Bank, Banque Des Mascareignes, Deutshe Bank, Bank of Baroda, State Bank of India, Mauritius Commercial Bank, State Bank of Mauritius, Bank One and Afrasia Bank are present in the country. They are well regulated by the Bank of Mauritius which is the central bank.

Presence of large pool of professionals

Most of the professionals whether accountants, lawyers, company secretaries are bilingual (English and French) and are members of internationally recognised professional bodies such as ICSA, ACCA, FCA, STEP and others.

Mauritius is also regarded as a leading financial centre for various other reasons such as:

  • flexible company law, securities and trust legislations;
  • business friendly and healthy regulation by Mauritius Financial Services Commission
  • good corporate governance code based on international norms;
  • low and reasonable tax rates for orporate and individuals being 15%;
  • occupation and residence permits are granted to expatriates within 3 days, and business licences and permits normally within 15 days;
  • Mauritius has a Stock Exchange known as Stock Exchange of Mauritius. There are more 30 domestic listed companies and more than 50 other companies trading on the Development and Enterprise market with modern norms of trading. The Exchange is open to Global Business Companies and Funds seeking a primary or secondary listing.
  • Mauritius is a member of the International Court of Justice and the International Centre for Settlements of Investment Disputes
  • Mauritius has concluded a number of Investment Promotion and Protection Agreements (IPPAs).
 
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