Mauritius, amongst the best offshore jurisdictions for company formation services
The key attributes of one of the best offshore jurisdictions
Africa’s leading International Financial Centre (one of the best offshore jurisdictions) puts forward many key attributes that attract interest from businesses from all around the world, looking to do business especially in Africa, and optimise the value of their company.
The attributes of Africa’s leading jurisdiction as one of the best offshore jurisdictions include:
- Most business-friendly and investment-friendly country in Africa (World Banks’s 2020 Doing Business Report);
- A strong and diversified economy;
- Rule of law and political stability;
- Offshore companies enjoy limited liability;
- Hybrid legal system, combining the advantages of English Common and French Civil laws;
- Secure and reliable investment destination (risk-mitigating platform) that ensures confidentiality and asset protection;
- Cost-effective solutions: affordable outsourcing destination with companies offering experienced services for company formation;
- A pool of bilingual (English and French) and skilled workforce;
- Extensive network of bilateral and multilateral agreements (DTAAs and IPPAs);
- No Capital Gains Tax;
- Corporate Income Tax, as well as Individual Income Tax and Value-Added Tax rates harmonised at 15%;
- No withholding taxes on dividends;
- No exchange control;
- Simple and easy to establish an offshore company;
- Offshore jurisdiction compliant with international standards, ideal to open an offshore bank account;
- Bank account opening ensures privacy and other significant advantages;
- International Arbitration Centre
- Convenient time zone (GMT+4) and strategic geographical location between Africa and Asia;
- An innovative listing and capital-raising platform;
- Member of the SADC, COMESA, African Union, IORA, and the Africa Continental Free Trade Area; and
- Presence of the world’s largest professional services firms as well as internationally renowned banks.
How choosing this offshore jurisdiction adds value to your business
The core objective of corporates, entrepreneurs and HNWI, whenever they are expanding their activities worldwide, is to maximise the value of their business and of their investments whilst satisfying stringent regulatory requirements, and ensuring asset protection. The main challenges they face when setting up an offshore company are choosing the most appropriate jurisdiction and selecting a cost-effective vehicle, both of which are critical to optimising their operating costs and maximising return on investment. Opening an offshore bank account in Mauritius also guarantees higher interest rates, secure protection of assets and privacy.
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Headquartered in Mauritius, Sunibel Corporate Services helps clients who are faced with similar situations and understands these challenges. Furthermore, being present in multiple countries allows us to quickly and efficiently analyse the advantages and disadvantages of settling for a jurisdiction.
Through our expertise and lengthy experience, we are able to provide experienced offshore company formation services. With a renowned local and international legal and tax advisors working in collaboration, Mauritius offers a pool of skilled professionals able to advise and help international businesses and entrepreneurs determine the best type of corporate structure for their activities and objectives.
Mauritius offers a competitive and cost-efficient business environment, highly conducive to investment and growth. Being among the leading offshore countries and a well-regulated and compliant jurisdiction recognised among the international business community, Mauritius has seen a growing demand for offshore company incorporation over the years.
In the Financial Services sector, two local regulatory bodies ensure the compliance, security and transparency of the Mauritian jurisdiction:
- The Bank of Mauritius (BoM), having the main objective of regulating the banking sector; and
- The Financial Services Commission (FSC) acts as a cohesive regulator for non-banking financial institutions and businesses.
Furthermore, Mauritius also adheres to international governance and reporting standards. In fact, the OECD recently indicated that the country fulfils all the requirements of the BEPS Action 5 and, consequently, does not have any harmful practices in its tax regimes. In addition, it was found being compliant with EU’s tax good governance principles. Mauritius was subsequently removed from the list of jurisdiction considered as tax havens by the Council of the European Union.
The jurisdiction also complies with Foreign Account Tax Compliance Act (FATCA), Common Reporting Standard (CRS), and with the Financial Action Task Force (FATF) Recommendations. Mauritius therefore has in place a strong Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) framework. By setting up their corporate structure in this jurisdiction, businesses can ensure they tick the box in terms of compliance and regulatory requirements.
Why you should choose Mauritius to grow your business:
- The Bank of Mauritius acts as regulator for banking services;
- One of the best countries for offshore banking;
- Offshore companies benefit from limited liability;
- The FSC ensures transparency for non-banking financial organisations and businesses;
- Complies with all the requirements of the BEPS Action 5;
- Tax benefits, compliant with tax good governance principles of the EU;
- Company formation is at a competitive rate and easy;
- Not considered as a tax haven by the Council of the European Union;
- Compliant with FATCA, CRS, FATF; and
- Has a solid AML/CFT framework.
Mauritius is also a renowned destination for relocation. Indeed, over the last decade, many expatriates have decided to establish their business in, and relocate to, Mauritius. With its tropical climate and its ideal living environment for you and your children, the Mauritian ecosystem allows this balance between work and play:
- A favourable and secure living environment
- A comprehensive education system with Anglophone and Francophone private institutions
- A simple and competitive tax system with tax benefits
- A wide range of international brands and products
- Accessible medical services
Offshore company formation services to help you benefit from Mauritius, one of the best offshore jurisdiction
At Sunibel, we look at ourselves as partners to a project rather than just being a service provider. We are driven by a best-fit approach. We accompany corporates, entrepreneurs, investors and HNWI to identify the structure best suited to their requirements, while providing them with tailored services for the management and administration of their offshore company.
We also advise you on how to take advantage of one of the best offshore jurisdictions to maximise your Enterprise Value and to do business at international level. Contact us via the form below for more information.
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This article is provided for information purposes only. It is not intended to provide, and should not be used for, tax or legal advice. We may put you in contact with tax and legal advisers in this regard.
Although all information and opinions contained herein have been compiled from sources believed to be reliable and trustworthy, no representation or warranty, express or implied, is made as to their accuracy or completeness, and, to the extent permitted by law, Sunibel Corporate Services Ltd (“Sunibel”), its members, employees and agents do not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in the article or for any decision based on it. You should not act upon the information contained in this publication without obtaining specific professional advice.
Sunibel accepts no liability for any direct or indirect damage resulting from the use and reliance on the information published in this article.
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