Mauritius offshore sector

Top sectors attracting FDI inflows from Mauritius from January to December, are electrical equipment, telecommunications, fuels, cement and gypsum products and services sector financial and non-financial. The banking industry is characterised by the wide range of services provided.

The estimated population in the country in was 1, In certain circumstances profits gained may be subject to payment of any outstanding Mauritian taxes due. A significant amount of effort is presently being put into further development of the tourism sector of the economy with new luxury villas and a number of conference centers constructed or being constructed.

Concerted strategy of nation building[ edit ] A concerted strategy of nation building since Independence created the foundations for sustained growth. This is due in large part to a number of reforms initiated by the government and financial sectors in past years.

Corruption is not seen as an obstacle to foreign direct investment. This compares very favourably with other sub-Saharan African countries and is largely due to sustained progress in economic conditions; between andgrowth averaged 4.

Mauritius Offshore Why Choose Mauritius as an Offshore Tax Haven Mauritius offers a number of incentives to offshore investors, including an open economy, favourable tax laws and a modern banking system all in a rich tropical environment.

The Companies Act stipulates, among other things, that offshore companies are allowed to do business in Mauritius, while international companies are not. While Mauritius has always insisted that companies had more than just a "brass plate" on the island by, for example, employing local directors, they will now be required to do more.

The bulk of inhabitants of Mauritius live on the largest of these islands, Mauritius, which has an area of square miles. Therefore, new rules have been agreed on by finance ministers from around the world to stop companies from moving profits to low tax centres.

At one time the economy of Mauritius was heavily dependent on the sugar industry. India, which has seen a third of its foreign direct investment flow through Mauritius, revised its tax treaty with the island in Background Information on Mauritius Location The Republic of Mauritius consists of a group of islands in the Indian Ocean located 2, miles east of Africa's southeast coastline and to the east of the island of Madagascar.

Mauritius profited from sugar rents, established an export processing zone EPZ and successfully attracted capital and foreign investment in manufacturing. English is spoken along with French and Mauritian Creole. The remaining 8 seats are appointed to give representation to various ethnic minorities.

Click to Login as an existing user or Register so you can print this article. Mauritius Offshore Why Choose Mauritius as an Offshore Tax Haven Mauritius offers a number of incentives to offshore investors, including an open economy, favourable tax laws and a modern banking system all in a rich tropical environment.

Located between Asia and Africa, Mauritius has evolved into an "international financial centre of excellence and repute," says Pravind Jugnauth, Mauritius' Prime Minister. Mauritius was the only home to this now-extinct species. An Infocom Development Authority has been established for this purpose.

Mauritius has its own specific dance form, the sega, which is based upon a combination of African rhythms, Creole lyrics, and locally-inspired musical themes.

Visitors to the island can watch or participate these Christian, Muslim, Hindu festivals, as well as those based on local and African religions.

The Mauritian population is comprised of a blend of Hindu, European, Muslim, Chinese, and Creole peoples, resulting in an extremely cosmopolitan culture.

Mauritius was ceded to Great Britain by the Treaty of Paris in Another fast growing sector is information technology, where the focus is on software development, business process outsourcing, and the establishment of call centers. Mauritius has a bright future not only because of the offshore sector, but it will not be wrong to say that this sector is contributing towards its success.

It has been nearly two decades since Mauritius initiated a comprehensive offshore legislation. The offshore sector (global business) in Mauritius commenced operations in and currently is home to more than 16, companies and trusts and collective investment schemes with more than 20 banks (more than 10 international) offering services to both the local and offshore sectors.

Since the launch of the offshore sector inthe Government has been within three working days for doing business in Mauritius. Offshore companies, called “Global Business Companies” are set up under the Companies Act and are regulated by the Financial Services Commission.

Mauritius has a bright future not only because of the offshore sector, but it will not be wrong to say that this sector is contributing towards its success. It has been nearly two decades since Mauritius initiated a comprehensive offshore legislation. Offshore Mauritius offers Mauritius business incentives to attract Mauritius offshore investors, like an open economy and Mauritius tax laws.

Mauritius; Mauritius Offshore That industry is slowly and purposefully being phased out although it still dominates the agricultural sector of the economy and remains an important.

The Mauritian banking industry comprises of 21 banks, of which 5 local banks, 10 foreign-owned subsidiaries, 1 is a joint venture, 4 are branches of foreign banks and 1 is licensed as a private bank. All the banks are licensed by the Bank of Mauritius to carry out banking business locally and internationally.

Mauritius offshore sector