OFFSHORE SECTOR IN MAURITIUS

INTRODUCTION

Traditionally Mauritius relied on sugar, manufacturing and tourism but now diversified into financial services, the fourth pillar of the economy and contributes 10% to the GDP.
With the liberalization of the foreign exchange controls, the global business incentives were introduced in Mauritius in 1992 and now the country is recognized as a leading regional financial centre.

The Global Business Sector in Mauritius

Mauritius is ranked 17th overall on the ease of doing business in the Doing Business Report 2010, an annual publication of the World Bank and the IFC that benchmarks business regulation in 183 economies worldwide. As a tax planning jurisdiction, Mauritius has focused on the development of its Global Business Sector on the use of its growing network of 34 Double Taxation Avoidance Treaties (DTAs).

The expanding network of these DTAs reinforces the seriousness of Mauritius as a tax efficient jurisdiction for structuring investment abroad in the Global Business sector. Mauritius has a sound and effective regulatory and legislative framework based on “ international best practice principle”. It guarantees confidentiality to legitimate businesses through statutory provisions and customary laws. The regulatory body of the Global Business sector is the Financial Services Commission (FSC), which also regulates monitors and supervises all non-banking financial activities such as Global Business activities.

Mauritius Legal & Financial Framework

Mauritius is a country which is politically stable and it models on the Westminster style democracy, with separation of powers between the executive, the legislative and the judiciary. The Prime Minister is the Head of Government and has full executive powers whereas the President is the Head of State. Members of Parliament are elected every five years by popular vote.

Additional Information