Offshore incorporation in Mauritius presents an interesting option for several reasons. Since this island in the Indian Ocean gained independence in 1968, it has used its excellent location and economic position to achieve political and economic stability. In a period when European incorporation has become particularly difficult, offshore company formation in Mauritius comes forward as a promising solution for the future.
A favorable legal framework
Unlike many other destinations that have signed agreements on the exchange of tax information between countries, banking secrecy in Mauritius remains reliable.
Mauritian Government encourages foreigners to invest in the island by facilitating administrative and legal procedures. A series of laws were promulgated in 2002 to encourage the installation of foreign firms in Mauritius, for example:
• THE BUSINESS FACILITATION (MISCELLANEOUS PROVISIONS) ACT 2006 provides the possibility for all non-residents wishing to start a business to obtain a license of temporary occupation.
• The TRUST ACT 2001, makes non-residents’ trusts exempt from paying any tax on the island.
• The INSURANCE ACT 2005, the BANKING ACT 2004, and the FINANCIAL SERVICES ACT 2007 . . .
Two types of company structures exist in Mauritius: the GBL 1 and GBL2 (GBL for Global Business License). The GBL1 is a resident company imposed at 10%, whereas the GBL2 is reserved for activities conducted outside Mauritius and benefits from 0% imposition.
Many Francophones choose Mauritius in an effort to combine tax benefits with a quest for quality of life.
Economic dynamism, security, ease of installation and an excellent image, make Mauritius a choice destination for Offshore company formation in a period when attractive offshore and onshore destinations are becoming rare.
Offshore company formation in Mauritius takes advantage of a favorable economic framework
Internationally recognized for the beauty of its beaches rather than for its economic dynamism, the island of Mauritius offers surprisingly many good business incentives. First, Mauritius is a member of the Southern African Development Community (SADC), which enables it to benefit from attractive regulations on customs duties. Furthermore, Mauritius is a hub for exchanges between two major world powers: China and India. Indeed, if you want to trade with India, a particularly advantageous tax convention for European companies has been established.