The Republic of Mauritius is an island nation which is located in the Indian Ocean and well-positioned between India, Southwest Asia, and Africa. It is a prominent destination for business activities with an increasing number of small and large scale companies.
The economy of Mauritius depends on tourism, agriculture, manufacturing, and financial services. Mauritius's government is keen on improving its economy by shifting its focus towards the growth of the private sector through initiatives and development schemes.
The island nation attracts business owners and investors owing to the wide range of business opportunities and facilities present in the territory. There are many benefits of starting a business in Mauritius, which include investment incentives, lower tax rates, free trade zones, and excellent infrastructure.
Business Environment in Mauritius
The business ecosystem in Mauritius comprises companies across various industries such as manufacturing, technology, agriculture, finance, textile, tourism, hospitality, and consultancy. Businesses operating in the territory have access to world-class infrastructure and communication facilities.
The country is economically stable, with the government continually encouraging foreign investment and offshore business activities.
There is a clear distinction between the offshore and onshore sectors as local citizens cannot take part in offshore business activities. Offshore companies are regulated by the Mauritius Financial Service Commission under the Companies Act 2011. There are primarily two forms of business entities, namely GBC1(Resident Company) and GBC2(Offshore Company).
Benefits of Doing Business in Mauritius
As mentioned in the above section, Mauritius is a suitable destination for conducting offshore business. There are plenty of opportunities available across various industries for new companies that can be chosen according to business requirements. The following are the benefits of Mauritius offshore company formation with bank account:
The requirements for company formation in Mauritius is comparatively lower than other jurisdiction. There are standard company essentials that business owners should produce for the initiation of the business setup process. Also, the minimum number of members required is less, i.e., one director and one shareholder.
Privacy and Confidentiality
The significant advantage of conducting business in this territory is that corporate laws offer privacy and confidentiality in terms of business activities. Offshore companies can be assured that relevant information related to the company, such as business operations and banking details, stays confidential and protected.
One of the important reasons for opening an offshore company is the tax benefits associated with various business processes. Mauritius provides lower tax rates and exemptions, which is feasible for companies operating in the jurisdiction. There are different tax benefits, such as:
- No capital gains taxes
- No withholding taxes
- No limit in carrying forward of tax losses
- No stamp duties
Higher Interest Rates
There are plenty of banking service providers in Mauritius that provides higher interest rates on deposits. Company formation with a bank account is beneficial as it helps with the banking requirements of the business, such as deposit of initial capital, financial transactions, and loans. Choosing a suitable bank according to the business requirement is thereby necessary. Also, there are several banks in the islands that offer higher interest rates on investments and deposits.
Businesses have great flexibility in terms of business operations and investment. The company owners can choose the available type of business entity and get started with the registration process. There are minimum restrictions imposed on the nature of business activities. Also, recently the government has begun making some necessary changes in the local rules and regulations to promote business flexibility in the islands.
With the emergence of both small and large scale businesses, the destination is thriving with investment opportunities for international investors. Investors have flexible options for investing in a significant industry that provides higher returns and profits. The government also offers various investment incentives to encourage more investment in the islands.
Mauritius is undoubtedly an ideal hub for international trade. It has global connectivity that enables trade to other parts of the world. The island is strategically located with excellent connectivity to India, Africa, and Southwest Asia, which comprises a large part of its import and export activities.
How Can We Help?
Setting up a business can be an exciting and rewarding experience for business owners and investors. We at Business Setup Worldwide, ensure that the entire Mauritius offshore company registration process is quick and hassle-free. By availing our business setup solutions, you can be assured of the quality and reliability of services. Also, our experts would help you at every step of the registration process by providing extensive support and assistance.
With our services, you can avail benefits such as:
- Managed by industry experts and professionals
- Ensures quick and easy registration
- Provides expert advisory with business-related queries
- In-depth business insights for business growth
- Extensive support and assistance
- Accustomed to working with clients in different zones
To know more about our company registration services in Mauritius, you can contact us now!