Mauritius is situated in the Indian Ocean approximately 800 km off the East Coast of Madagascar. The island, which is of volcanic origin, covers an area of 1,800 sq. km.
The British ruled Mauritius for 158 years until 12th March 1968, when it became an independent country within the Commonwealth.
Mauritius is one of the few countries with a hybrid legal system based on English and French law.
Mauritius has developed from a low income, agriculturally based economy to a middle-income diversified economy with growing industrial, financial and tourist sectors. The island has become a renowned offshore centre with a large number of banks and financial institutions.
SO WHY MAURITIUS?
• Impressive track record, political stability and sustained economic growth
• Secure investment location with established rule of law
• Freest and most business-friendly country in Africa
• Peaceful, multiethnic with a unique lifestyle in a blend of cultures
• Flexible, bilingual (English/French) and skilled workforce
• Investment-friendly regulatory regime
• Open to foreign investors and talents
• No foreign exchange control regulations
• 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
• Convenient time zone (GMT +4)
THE FISCAL REGIME
• Corporate tax:15%
• Income tax (personal tax): 15%
• Value-Added Tax (VAT): 15%
• Corporate Social Responsibility (CSR tax): 2% on book profits
• Land Transfer tax: 5%
• No capital gains tax
• No inheritance tax on property
• No withholding tax on interest and dividends
• Exemption from customs duty on equipment
• Free repatriation of profits, dividends and capital
SETTING UP OFFSHORE COMPANIES
Offshore companies in Mauritius have the following advantages:
legal tax exemption (GBC 2, which is a local kind of an offshore company, is non-resident for tax purposes);
neither accounting nor reporting requirements;
business can be conducted internationally;
high level of privacy protection (by structuring the shareholding through nominee shareholders and appointing nominee directors);
offshore company can be incorporated with one director and one shareholder;
offshore company enjoys limited liability without any paid up capital (no minimum capital required);
offshore company formation takes around 48 hours.
INVESTING IN REAL ESTATE
The Non-Citizen (Property) Restriction Act has recently been amended to remove some restrictions on the possibility for a non-citizen to acquire immovable property in Mauritius. Prior to this amendment, only non-citizens who were delivered permits to invest, work or live in Mauritius could purchase specific types of immovable property in Mauritius. Now, any non-citizen can purchase immovable property in Mauritius subject to obtaining the approval of the Prime Minister’s Office, channelled through the Board of Investment of Mauritius.
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