Mauritius

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ABOUT MAURITIUS

Mauritius at a Glance

Mauritius aims to become a premier investment platform located midway between Africa and Asia. In recent years, the country’s economic diplomacy has sought to create and strengthen partnerships with emerging countries (India, Turkey, Asia, etc.), while also offering technical aid to several African countries.

Mauritius has set a modern legislation and adopts international best practice in corporate governance. Mauritius has gained international recognition as well-regulated financial center (World Bank rated Mauritius first in Africa for its ease of doing business, economic freedom and good governance).

Investors may use the Mauritius Global Business sector, formerly known as Mauritius Offshore Business sector, as a platform for investing in other countries or conduct international business while using Mauritius entities with specific licences. For example investment Holding Companies return can bee free of tax

  • Population: 1.26 milj. (2014)
  • Form of government: Parliamentary republic
  • Official languages: French, English, Mauritian Creole
  • Currency: Mauritian Rupee (MCR)
  • Country code: +230
  • Time zone: UTC +4, Daylight saving time UTC +4
  • Life expectancy: 75.17 years
  • GDP (PPP): $23.322 (2015)
  • GDP (PPP)/per capita: $17.716 (2015)
  • Public debt: 36.4% GDP
  • Unemployment: 7.8%
  • Average salary: €700/month
  • Economy: Agriculture and primary production 20 %,Retail and travel 50%,Financial services 22%

 

Doing Business in Mauritius

Advantages of doing business in Mauritius

  • One of the best offshore countries. Not “Black listed”
  • High privacy
  • Official languages English or French
  • Access to African markets
  • Infrastructure
  • Tax treaties with 38 countries; Including United Kingdom, Sweden, Germany, France, Belgium, India and Singapore

Disadvantages of doing business in Mauritius

  • Remote location
  • Small home market

Setting up a business in Mauritius

Who can start a new business in Mauritius:

  • Any person or legal entity who can provide documentation required by the law for incorporation

Who can own property or shares of Mauritian company:

  • Any legal entity (Companies, private individuals, trust or fund)

Who can act as a director or member of the board:

  • CAT 2  company (offshore company); Any person or legal entity who can provide documentation required by the law.
  • Local CAT 1 Permanent resident of Mauritius

Business entities in Mauritius

  • Limited liability company (CAT 1 ja CAT 2)
  • Partnership
  • Joint Venture
  • Trust
  • Sole Proprietorship

Requirements to incorporate in Mauritius

Opening bank account:

  • Incorporation documents and articles of association (Certificated in Mauritius)
  • Registration certificate (Certificated in Mauritius)
  • Board of directors meeting minutes
  • Proof of identity, address and skills of signatories
  • List of shareholders and directors (Certificated in Mauritius)
  • Certificate of Good Standing (if company is older than 1 year)

Public register of shareholders and directors:

  • Directors: No
  • Owners: No

Allowed trades:

  • CAT 2:  All the legal trades that doesn´t require permit (Not allowed to sell services within Mauritius)
  • CAT 1: All the legal trades that doesn´t require permit

Accounting and reporting regulations:

  • CAT 2 -company must store it´s accounting material in registered address
  • Mauritian companies must file accounts
  • CAT 2 – company do not have to file accounts in Mauritius
  • CAT 2 – company do not to be audited
  • CAT- company must renew it´s registration yearly, report it´s registered address and notify authorities about location of accounting material

How funds can be withdrawn from company

  • Company may transfer money to another company based on sales of services and goods.
  • Company can lend money to another company and / or person given that loan agreement with minimum interest and payment terms have been made. Owners cannot owe money for the company in the end of the book year.
  • Company can pay dividends from it´s own capital to shareholders after end of the book year
  • Company can pay salary to it´s employees given it has registered in the Tax Administration´s employer register. Employer is obliged to pay tax withheld at source from all wages paid to employees, along with making employer´s social security contributions.
  • Company can pay tax free allowance, such as kilometer allowance for using they own car, per diem and meal money, to owners in order to cover their temporary business travel expenses as defined in the official Decision of the Tax Administration on Allowances for Travel Expenses
  • Company can pay meeting allowances for its directors, members of the board and owners
  • Profits may be transferred (if certain requirements are met) between group companies through group contribution system
  • Company can invest in shares, funds or real property.

Can you transfer Mauritius CAT2 company to another jurisdiction?

  • Yes given that another jurisdiction approves the transfer

How to terminate business in Mauritius?

  • Company may be sold
  • Skipping renewal of company yearly registration (CAT2)
  • Filing bankruptcy
  • Company liquidation

The World Bank “Ease of doing business ranking”: Mauritius

Overall rank:rank 32 (-1 since 2014)
- Starting a business:rank29 (Average processing time 6 days)
- Dealing with construction permits:rank 35 (Average processing time 156 days)
- Getting electricity:rank 41 (Average installation time 81 days)
- Registering property:rank 99 (Average processing time 14 days)
- Getting credit:rank 42
- Protecting minority Investors:rank 29
- Paying taxes:rank 13 (Average company tax from profits 22.4%,average time used for taxation 155 hours year)
- Trading across borders:rank 66
- Enforcing contract:rank 27 (average 519 days,Average cost from standing amount 25%)
- Resolving Insolvency:rank 39 (Average time processing bankcruptcy: 1.7 years)

Residency and Moving to Mauritius

Freedom Index

Overall rank: 24 (65/100 points)
- Property:65/100 points
- Taxes:92/100 points
- Speech:94/100 points
- Government:82/100 points
- Guns:30/100 points
- Drugs:20/100 points
- Corruption:52/100 points
- Inflation:77/100 points
- Business:74/100 points

Taxation in Mauritius

Corporate taxation in Mauritius

Taxable income CAT 2: 0%, CAT 1: 15%
Taxation of dividends
VAT registration CAT 2: Not possible, CAT 1: Possible
Rates 15%
Withholding tax (general)0%
- Dividends0%
- Royalties0%
- Interest0%
- Technical services0%
Transfer tax0%
Capital gains taxTreated as an normal income. Taxable only on dividents
Real property tax0%
Social security-
Capital duty0%
Stamp duty0%
Car tax-
Tax treatiesCAT1: YES, CAT2: NO
CFC (Controlled Foreign Company)ruleNo

Tax treaties (Only for CAT 1 companies): Barbados, Belgium, Botswana, Croatia, Cyprus, Dem. Rep of Sri Lanka, France, Germany, India, Italy, Kuwait, Lesotho, Luxembourg, Madagascar, Malaysia, Mozambique, Namibia, Nepal, Oman, Pakistan, People’s Republic of Bangladesh, Seychelles, Singapore, South Africa, State of Qatar, Swaziland, Sweden, Thailand, Tunisia, Uganda, United Arab Emirates, United Kingdom, Zimbabwe, Zambia

Pending ratification: Congo, Egypt, Nigeria, Russia, Ghana, Gabon ja Monaco

OUR OFFERS IN MAURITIUS

  • business planning, tax consulting by Novasigma
    BUSINESS CONSULTING FROM 125€/h
  • Mauritius - Company Formation Services from 2.500€
  • Mauritius Novasigma
    WHY TO SET UP A COMPANY IN MAURITIUS?
  • TAX PLANNING FOR PRIVATE PERSONS FROM 850€
  • TAX CONSULTING FOR CORPORATIONS FROM 2.490€

 

NOVASIGMA IN MAURITIUS

Consulting & advisory services for Mauritius entities

  • Due diligence process
  • Foreign Market entry & Supplier search
  • Business Plans & Descriptions
  • Development & Capital Advisory
  • International Tax Planning
  • Funding & Investor Search
  • Business Restructuring via Offshore entities
  • Exit Strategy & IPO
  • Problem solving in Mauritius | by Novasigma Accounting & Law partner office

PLEASE CONTACT US TO SCHEDULE A MEETING WITH THE NOVASIGMA CONSULTANT

Incorporation, administration & business services in Mauritius

Incorporation services in Mauritius

  • New company formations in Mauritius
  • Ready-Made Mauritius companies
  • Company Closures and liquidations in Mauritius

Company administration in Mauritius

  • Legal registration address service for a Mauritius company
  • Company secretarial service for a Mauritius company
  • Nominee director services
  • Nominee shareholder services

PLEASE CONTACT US TO SCHEDULE A MEETING WITH THE NOVASIGMA CONSULTANT

Additional business services in Mauritius (by Novasigma Certified Partners)

  • Virtual office services in Mauritius
  • Hosting services
  • Real estate in Mauritius (offices, trade facilities, industrial)

Accounting, bookkeeping & audit for a Mauritius entity

Some of the common domestic accounting services we provide in Mauritius include

  • Bookkeeping and accounting
  • Invoicing and payments
  • Annual accounts
  • Monthly Reconciliation
  • Monthly financial statements (including balance sheet and income statement)
  • Payroll services
  • Income and tax return
  • Management accounts

Value Added Tax (VAT)

  • VAT registration
  • Advice on VAT scheme options
  • VAT returns and declarations

Audit

  • Annual accounts in view of an annual audit and attend accounting audits

PLEASE CONTACT US TO SCHEDULE A MEETING WITH THE NOVASIGMA CONSULTANT

Legal services for Mauritius companies and business owners

Legal services in Mauritius for all Novasigma Clients including companies and their owners and directors

Novasigma has built in Mauritius a team of lawyers, associates and legal advisers to assist our clients with a business and tax planning, overseas business operations, risk management and other legal matters. Primarily focused on business transactions, Novasigma Accounting & Law corporate attorneys are a great asset to a small and large businesses. With a background on corporate law, our corporate lawyers and legal advisers have an in depth knowledge on the transactions that may put your business at risk of litigation. These include contracts and negotiations, taxation laws, business structuring, buy/sell agreements, and intellectual property, among others.

PLEASE CONTACT US FOR MORE INFORMATION ABOUT LEGAL SERVICES IN MAURITIUS

Banking, financial and insurance services in Mauritius

Banking services in Mauritius

  • Business bank accounts
  • Personal bank account opening for business owners
  • Payment service providers
  • Investment solutions
  • Alternative banking solutions

Financial services in Mauritius

  • Debt collection services
  • Invoice funding & cash flow solutions
  • Factoring
  • Leasing
  • Wealth management

Insurance services in Mauritius

  • Insurances for corporations
  • Insurances for business owners and their families

PLEASE CONTACT US FOR MORE INFORMATION ABOUT BANKING & FINANCIAL SERVICES IN MAURITIUS

Tax residencies & Immigration services

  • Meeting with Novasigma before applying Mauritius residency
  • Assistance in applying a tax residency from Mauritius
  • Personal bank account in Mauritius

PLEASE CONTACT US TO SCHEDULE A MEETING WITH THE NOVASIGMA CONSULTANT

NEWS AND BUSINESS OPPORTUNITIES IN MAURITIUS

  • Do you know which country is the richest in Africa?
  • THE BEST COUNTRIES TO START OR EXPAND YOUR BUSINESS IN AFRICA
  • High Net Worth Individuals immigration soars 16%
  • Offshore bank account opening with Euro Pacific Bank
    Euro Pacific Bank- New USD Route available
  • Use an Offshore Company for Cryptocurrency Tax Benefits

Interested in Mauritius? Please leave us a message and we will get back to you shortly.

 

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Available services

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    TAX PLANNING & BUSINESS CONSULTING
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  • Legal services for companies & business owners
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    Tax Residencies & Citizenship programs

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