Mauritius is an ideal destination for conducting offshore business owing to several benefits such as investment incentives, lower tax rates, flexibility, and simple business setup procedure. It is an island nation with a stable government and developing economy that attracts individuals and business owners from across the globe.
Over the years, the country has undergone a massive transformation in terms of economic diversity. Earlier, tourism and agriculture were the dominant sectors in Mauritius. With the onset of privatization and offshore business activities, sectors such as financial services, manufacturing, industrial goods, and food processing started to contribute towards the country's economy. This article highlights some of the key reasons for starting an offshore company in Mauritius.
Mauritius's Business Environment
The Financial Services Commission (FSC) is the regulatory authority that governs offshore business activities in the islands. It also monitors the country's stock exchange, the insurance industry, fund management, and investment advisory services. Regulation of offshore companies comes under the Companies Act 2004. A Mauritius offshore company should be registered in compliance with the standards specified by the regulatory authorities. Also, there is a wide range of economic zones such as Free Trade Zones and Freeport to support the growth of emerging business ventures.
Reason to Start an Offshore Company in Mauritius
It is quite beneficial to start an offshore business in Mauritius. The country encourages offshore activities in its territory in an effort to diversify its economy. The following listed are some of the primary reasons to start an offshore company in Mauritius:
Mauritius has a supportive environment for offshore companies. It provides businesses with facilities such as excellent communication, infrastructure, mobility, and advanced types of equipment. The corporate laws have been drafted meticulously to suit the business requirements of offshore companies. The island nation has a competitive market that meets the international standards of business activities. It is also an attractive jurisdiction for international investment opportunities.
There are various tax incentives for offshore companies. Mauritius offers lower tax rates than most of the other jurisdiction which is beneficial for small and medium businesses. The taxation system is well-defined and encourages investment by foreign nationals. Offshore companies are exempted from land transfer tax, stamp duties, and capital gains tax. Also, there are no withholding taxes on dividends or payments made to foreign shareholders.
Privacy and Protection
Offshore companies provide a strong layer of protection for company assets thereby providing high levels of privacy. Most of the business owners have concerns regarding confidentiality in business operations. They do not want vital company information to be published in public records. The offshore company is a perfect legal vehicle that provides asset protection and assures confidentiality to company owners and respective shareholders.
Availability of Resources
The island nation has an abundance of resources in terms of workforce, office space, raw materials, financial and consultation services. It helps in the sustainability of the business and also effectively strategizing the workflow of the business. Company owners can utilize these resources for the growth and expansion of their business in the jurisdiction.
The governing authorities provide great flexibility in terms of business operations and other activities. In most cases, resident countries may not provide suitable regulations that would ensure no hindrance to specific business activities. Therefore, having an offshore company helps in preventing certain drawbacks such as capital restrictions and limitations in business operations. The Mauritius government grants concessions and offers benefits to encourage direct investment in the country.
Offshore companies in Mauritius have access to utilities such as telecommunications, infrastructure, mobility, quick license renewals, diversity in the investment portfolios, high-speed internet, banking services, and research facilities. Apart from these, companies are also facilitated with free trade zones and freeport to have sustainable development in the long term.
Quick and Easy Setup
Setting up an offshore company in Mauritius is quite simple and convenient. It requires less time and effort from the business owners or investors. Moreover, the country provides special economic zones that help in fast-track business registration. SEZs helps business with quick license registration, office space, work permit, offshore hosting and lower tax on offshore income. The entire registration process in Mauritius has been devised in a manner that is suitable for foreign nationals looking to expand their business in the territory.
Why Choose Us?
Business Setup Worldwide is a one-stop solution for all your business requirements. Our services ensure quick and hassle-free offshore company formation in Mauritius. By availing our professional services, you can be assured of:
- Quick registration process
- Minimum requirements from your end
- Extensive support and assistance
- Compliance with local corporate laws
- Affordable charges
Contact us today and get in touch with our business advisors for expert solutions on business setup in Mauritius!