By setting up their company in Mauritius, British entrepreneurs, investors and businesspersons can use the country’s position as a trade and investment platform to optimise their business. Connected to 1 continent and 2 powerhouse countries, Mauritius is the place to be for doing business as it boasts many advantages, which many international companies are already leveraging.
Establishing your company in Mauritius can help develop your business
By choosing Mauritius as the domicile for your companies, British entrepreneurs will have access to the country’s network of Free Trade Agreements, as well its wide network of Double Taxation Agreement.
Therefore, in addition to getting favoured entry to these vast markets, authorising them to export goods and services whilst protecting investors and their investments, British companies can also benefit from a preferential fiscal regime.
These are among the reasons why over 20,000 offshore companies from all over the world, have set up Mauritius.
Why set up a company in Mauritius:
- 1st in the African continent for ease of doing business;
- Trading hub of Africa, ranked 13th globally when it comes to economic freedom;
- Dual legal system (combines the English Common Law and the French Civil Law);
- No exchange control, no Withholding Tax, and no Capital Gains Tax;
- Wide network of Double Taxation Agreements and Investment Promotion and Protection Covenants;
- No restrictions on trading; and
- Tactical geographic position and fitting time zone.
A trading and business hub, ideally located between Africa and Asia
Mauritius has a Free Trade Agreement with African (through the African Continental Free Trade Area – AfCFTA) as well as Asian countries (China, India and Pakistan). By doing business from Mauritius, British owned companies can therefore have access to these Free Trade Agreements and reach a market of over 2.5 billion people, with a combined Gross Domestic Product of US$35 trillion (PPP).
In addition, Mauritius is a member of two major trade blocs within the African continent, which allow for imports to Mauritius and exports from the island to be exempt of customs duties:
- The Common Market for Eastern and Southern Africa (COMESA – 21 member states); and
- The Southern African Development Community (SADC – 16 African states).
These bilateral and multilateral agreements are an excellent opportunity for British entrepreneurs and businesses who want to make their products and/or services available to African and Asian markets. They can optimise their companies and reap the benefits of economies of scale, trade gains and market penetration in view of making profits.
According to the department for International Trade in the UK, there are also many opportunities for UK companies in Mauritius in the following industries:
- Financial services;
- Ocean Economy;
- Education; and
- Healthcare and life sciences.
Take advantage of these Free Trade Agreements by conducting business in and from Mauritius
There are a number of options available to British businesspeople who want to take advantage of the Mauritius International Financial Centre.
They can establish an Offshore Trading Company in Mauritius. This type of company benefits from all the trade agreements mentioned above. Indeed, a Trading Company can trade commodities and/or services from one country to another, and benefit from many advantages.
There is also the option of setting up a Freeport company in Mauritius. It allows businesses to benefit from the Freeport facilities (e.g. warehousing, processing, and distribution) in Mauritius for trading and shipment, and provides investors with the access to a cost-effective logistics platform with many advantages. Some include:
- 50% of discount on port handling charges;
- 50% of turnover can be achieved from local market sales;
- No Corporate Tax;
- Duty free and VAT free commodities and equipment;
- 100% foreign ownership; and
- Free repatriation on profits.
Since the Free Trade Agreements stimulate investments, it also provides opportunities for the setting up of Private Equity Funds. Sunibel Corporate Services can accompany Africa-focused fund managers to optimise their operations and save up to 31% by using Mauritius.
The multilateral and bilateral agreements Mauritius has with African and Asian countries further restate the leading position of Mauritius as a trading hub and a strong and reliable International Financial Centre.
How can Sunibel help? Sunibel Corporate Services can help you in the setting up and administration of your companies and structures, assist you with permits and relocation to Mauritius and advise you on the best option to maximise your Enterprise Value.