Mauritius is a cluster of islands in the Indian Ocean. It is located at about 2,000 miles east of Africa's southeast coastline and to the east of the island of Madagascar. Most of the inhabitants of Mauritius live on the largest of these islands, i.e. Mauritius. It has an area of about 787 square miles.
Panama is a Central American country that has been gaining a reputation worldwide for its respectable corporate and financial services. The government’s documented tax advantages and the promising economic performance of the country are the two factors in which the experts attribute progress. As a result of this, foreigners are more tempted to form an offshore company in Panama.
Advantages of Setting up an Offshore Company in Mauritius
- Mauritius is one of those countries that have the lowest tax platforms in the world. Both the corporate and individual income taxes here are at 15%.
- Offshore businesses located in Mauritius are exempt from Mauritian taxes that do not do business with Mauritians nor use Mauritian currency Investors can rely on Mauritius for asset protection
- The Mauritius offshore jurisdiction is on a par with Panama, Liechtenstein, Jersey, and similar offshore jurisdictions as being a good place to do business.
- Mauritius enjoys preferential access to developed and emerging markets including the US.
- Foreign nationals who have stayed in Mauritius for a minimum of 3 years and are earning a salary above a certain minimum can obtain permanent residency. This is required as a permanent resident can only purchase property on the island.
- The growth outlook for the country is broadly positive. The monetary and exchange rate policies are also appropriate and even the net international reserves are seen to be adequate.
- One of the biggest advantages of Mauritius offshore company formation is the high level of privacy protection made possible by the way that a company's shareholding structure can be defined.
- The offshore financial center of Mauritius is supported by the HSBC Group. The HSBC is one of the world's largest banking and financial services organizations. It operates 11 full-service branches in Mauritius along with a locally owned subsidiary dedicated to offshore banking.
- The democratically elected government of Mauritius has enjoyed stability since the country's independence.
- There are a lot of Opportunities to have access to Mauritius offshore banks and offshore bank accounts that can be paired with a Mauritius company. You can open an offshore bank remotely without the need of physically visiting the bank.
- The WHO has ranked the air quality index of Mauritius as the 2nd best on the planet.
Advantages of Setting up an Offshore Company in Panama
- Panama is a multicultural transit country as it is located at the centre point of North and South American business operations.
- A huge portion of businesses fluently uses both English and Spanish, which minimizes any language barrier within the country.
- Panama has been continuously increasing its financial and infrastructure service industries.
- No limitation in foreign exchange
- All shareholders enjoy maximum privacy.
- The incorporation process is pretty quick.
Features of an Offshore Company in Panama
- No corporate taxation in a Panama offshore company.
- There must be a registered office in Panama.
- Minimum government fees excluding tax is the US $250
- Bearer shares are allowed but do not allow par value shares
- A minimum of three directors is required.
- A minimum of only one shareholder is required to form an offshore company in Panama.
Mauritius as an Offshore Tax Haven
Mauritius offers a number of tax incentives as an offshore jurisdiction to offshore investing. This includes an open economy, favourable tax laws and a modern banking system all in a rich tropical environment.
Mauritius has one of the most stable economies. It is said to have one of the most open and financially sound economies in the sub-Sahara region of Africa.
Mauritius is an active member in a number of international organizations including the International Monetary Fund, the World Bank, and the World Trade Organization. It also has strong economic ties with its African neighbours, the European Union, China and India.
Mauritius has an expanding Offshore Financial industry that offers a cluster of offshore formation structures as well as offshore accounts and licenses. It has a strong banking sector with many international and national banks that are open for non-residents.
We hope that all the above information will give you a clear picture of deciding whether to start an offshore company in Mauritius or Panama. We would recommend that the offshore investors looking for an offshore company should look into Mauritius.
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