Mauritius: A suitable destination for offshore company setup
Mauritius is located in the African continent, and it is one of the wealthiest countries of the continent. Mauritius is one of the friendliest states for creating an offshore company setup. After their independence, they created a favourable environment for local and foreigner people in the business. Now for anyone who wants to start offshore company setup, Mauritius offers them easy access to the country. They also provide a favourable environment for family office setup in Mauritius. Here are some of the key factors that make Mauritius a suitable destination for creating an offshore company setup in Mauritius.
Corporate taxation
The taxes in Mauritius are lower than many other parts of the world as the maximum tax rate is almost 15%. The tax rate can be lower depending on the residence status and business structures. Companies and individuals who are tax residents of Mauritius have to pay tax to all of their income either it has been gained from Mauritius or other parts of the world. On the other hand, non-tax residents have to give taxes on the revenue generated from the country or derived from the country. This taxation system appeals to the foreigners who want to create an offshore company setup in Mauritius.
Personal income and property tax
The individuals who live for more than 270 days in Mauritius in the current fiscal year and previous two years fall into the tax resident category. The tax-residents don’t need to pay property tax, capital gain tax and estate tax. People who want to start a family office setup Mauritius can be helpful for them as they don’t need to pay necessary taxes which many other countries don’t spare. This relaxation attracts many investors and businessmen to the country, and they start their offshore companies in the country.
Business opportunities in Mauritius
Although Mauritius is a small country with a total area of 2040km², this is one of the most prosperous countries in the world. This small country attracted almost 1.4million tourists only in 2018, which is more than the whole population of the country. A lot of business opportunities and a secure taxation system is offering the foreigners to start family office setup in Mauritius.
Strengthen democracy
A strengthened democracy in Mauritius is also a key to attracting people to start offshore company setup in Mauritius. Businessmen in other countries like Hong Kong have a fear of losing business because of political issues in the country. Whereas, the business community of Mauritius does not have this fear as they are enjoying the fundamental democratic right.
