Situated in the ‘golden triangle’ connecting Asia, Africa and Australia, Mauritius is the converging point of global civilizations – a place where one can feel the cosmopolitan pulse of the world. Selected attributes of Mauritius include:

The Star and Key of the Indian Ocean: Mauritius

Situated in the ‘golden triangle’ connecting Asia, Africa and Australia, Mauritius is the converging point of global civilizations – a place where one can feel the cosmopolitan pulse of the world.

The Republic of Mauritius is an island nation in the Indian Ocean about 2,000 kilometres off the southeast coast of the African continent. The people of Mauritius are multi-ethnic, multi-religious, multicultural and multilingual. Mauritius is known for its varied flora and fauna, with many species endemic to the island. The country is today acclaimed as:

• An ideal investment platform
• A gateway to Africa
  

“With its rich history and a mix of various cultural traditions, Mauritius is a privileged country to live. Since 2007, non-citizens are eligible to submit an application to acquire freehold property for use as a residence in Mauritius.”

The non-citizen is also entitled to a residence permit if the value of the property acquired exceeds USD500,000. Non-citizens may thus acquire one or more:

1. residential units developed under the Integrated Resort Scheme (IRS), Real Estate Development Scheme (RES) and Property Development Scheme (PDS)
2. residential units developed in a Smart City
3. apartments located in a building of at least two floors above ground floor

The residential unit may be acquired either on the basis of a plan, during construction phase or when the construction is completed. Benefits to foreigners of acquiring a residential unit in Mauritius include:

• Peaceful, multi-ethnic with a unique lifestyle in a blend of cultures
• Ocean State with one of the largest Exclusive Economic Zones in the world
• Preferential market access to Africa, Europe and the USA
• State-of-the-art infrastructure
• Negligible pollution levels
• Welfare state with free public schooling and public health care.

1.      An ideal investment platform

With a GDP per capita of USD9,200, it has achieved the status of an upper middle income country. Mauritius is recognised as a reliable International Financial Centre (IFC). Financial services remain one of the main contributors to the Mauritian economy, accounting for 10% of GDP and directly employing more than 15,000 highly qualified professionals.

“Mauritius is a platform for investing and doing business in Africa, the Middle East and Asia. It is also recognized internationally for its pro-business governance framework and stable environment for investors.”

Over the last 15 years, Mauritius has acted as an exceptional investment conduit of Foreign Direct Investment FDI to India. It is also the privileged gateway to Africa thanks to its innovative African policy based on a free movement of persons, goods and capital.

Mauritius offers considerable benefits, including:

• Political, social and economic stability
• A favourable legal regime for investment
• A well-regulated and whitelisted OECD financial sector
• A set of internationally recognized rules and regulations
• The presence of international banks as well as renowned legal and accounting firms
• An ideal time zone (GMT +4)
• A culture of confidentiality: Registers of offshore companies are not open to public inspection.
• Access to a large network of highly qualified and bilingual professionals
• An ease of doing business and unequalled hospitality to investors
• No exchange controls
• A stock exchange open to foreign investors
• An ideal platform for arbitration in the event of litigation
• Comprehensive protection of foreign investment in leading African countries through its network of 44 promotion and protection of investments agreements guaranteeing the said investment against expropriation measures and social unrest in the co-contracting States. The agreements also provide for provisions for the settlement of disputes between investors and the co-contracting States

Mauritius is also a member of the regional trading blocks (SADC, COMESA, IOC, IOR) and enjoys the benefits of AGOA and EPA for the US and EU markets respectively.

The Republic of Mauritius is one of those countries that position themselves as jurisdictions providing substance; whose added value lies, above all, in the level of experience and expertise of its human capital. It thus offers a good mix of a business-friendly environment (which stems from the synergy between the public and private sector), favourable tax policies and modern technologies that encourage investment.

Mauritius accompanies this exceptional environment with incentives and attractive tax policies, including:

• Attractive corporate tax (0% – 3% – 15%)
• An absence of withholding taxes for interest, royalties, dividends or profit distributions from a branch
• Value added tax (VAT) at zero for transactions involved in global trade
• No capital gains tax (CGT)
• No stamp duty, registration fees or special taxes
• No estate, inheritance, gift, or inheritance rights of wealth taxes
• No limitation in the carry forward of tax losses
• No hereditary reserve
• Access to a network of 43 agreements avoiding double taxation with major developed and emerging economies around the world, offering a wide range of tax benefits and allowing effective tax planning.

Mauritius also promotes the peaceful resolution of disputes by establishing itself as an arbitration centre by the presence of a Permanent Court of Arbitration (PCA) and the joint venture between the London International Court of Arbitration and the International Centre of Arbitration of Mauritius (LCIA-MIAC).

Mauritius is a signatory the following major multilateral conventions and agreements, namely the Court International Court of Justice, the 1958 New York Convention on Arbitration International Centre for the Settlement of Disputes relating to investments.

2.      A Gateway to Africa

Africa is complex but with unequalled potential. The continent represents an essential platform for all organization wishing to expand its activities worldwide.

Four hours from Johannesburg and Nairobi, the Republic of Mauritius inspires confidence, respect and admiration because it has maintained its role of a leader and mentor of the continent’s economic development. Rule of law, with strong and honest institutions, a centre of excellence and benefiting from a professional ecosystem at the ratio of accountants, lawyers and doctors per capita of the highest in the world, Mauritius is the secure podium as a gateway to enter Africa.

Member of the African Union, the International Organization of Francophonie, the ACP and the Commonwealth, Mauritius has always been known to affirm its presence on the African chessboard. Mauritian bilingualism, its ethnic multiplicity and its geographical position are the bases of its African recognition.

“Undisputed leader for ease of doing business in Africa with a first place in the field of good governance and transparency, Mauritius uses its vast network of non-double taxation treaties and its investment promotion and protection treaties to offer fiscal flexibility while protecting investments from political risks.”

This stability that Mauritius offers allows it to shelter today from many regional organizations, including Regional Training IMF Institute and AFRITAC which is the IMF’s training centre for Africa.

The operational African strategy is based on 3 axes:

1. Free movement of goods.

Mauritius is a member of Regional Economic Communities such as SADC, COMESA, EAC etc. and maintains bilateral trade agreements with some countries such as Kenya or Madagascar. This allows on the one hand to facilitate the transit of goods within the region, but also to supply the Mauritian free port, which serves as a logistics, processing and storage base between the rest of the world and Africa.

The volume of freight traffic is very important between the port of Mauritius and Durban, Cape Town, Mombassa and Dar-es-Salaam. The port of Mauritius is one of the most secure and efficient in the region. A commodities exchange is also present in Mauritius.

2. Free movement of capital.

It is interesting to note that there is no exchange control in Mauritius. It is possible for every investor to open a bank account in the currency of his choice.

International and local banks that are present in Mauritius offer an elaborate service of first choice. The Mauritius Stock Exchange is open to foreigners and is a dynamic tool for investing or raise funds. The financial services sector in Mauritius regulates more than 25,000 companies with international focus and more than 1,000 funds.

3. Free movement of people.

Almost all nationals of Sub-Saharan Africa can enter and leave Mauritius without visas. No visas either for the EU countries or for most Asian countries. This allows to make Mauritius a interesting platform to set up headquarters, to hold boards of directors meetings or for work sessions. Mauritius also offers annual scholarships for African nationals.