As advanced in a previous article, Protected Cell Companies are set up, as Global Business Corporations, under the legislation that the firm will remain a single entity with different segregated cells. This provides more opportunities, additional flexibility and security for international investment structuring since the assets and liabilities of each cell are legally separate from one another. A PCC has significant features with regards to factors such as its names, taxation rules, capital requirements or legal entity.

More important features of a PCC

Issuance of shares: A Protected Cell Company has the right to issue shares in the capital of its cells. These are known as cell shares. The income gained from the issuance of cell shares will be merged together with the cell’s assets.  If earning is derived from the issuance of shares other than the shares of its cell, this will form part of the non-cellular assets of the PCC.

Core shares are going to carry voting rights of the PCC. On the other hand, cellular shares have all voting rights pertaining to a specific cell. This will ensure maximum protection to the investors of each cell regarding its corporate governance issues.

Dividend: Dividends to the shareholders of each cells are paid independently from one another. They are payable only by reference to the profits made by each cell. However, the PCC will be taxed as a single organisation. It is worthwhile noting that dividends from a local resident company in Mauritius, are not subject to any tax.

Why is Mauritius the ideal jurisdiction to establish a PCC?

Several factors should be taken into consideration when setting up a PCC. Its establishment is a matter that should be taken very seriously since a PCC has different strategies, different internal rules for different cells. There are also several group of investors/ stakeholders involved. Additionally, a PCC will have to conduct cross-border and global transactions. As such, it is essential for your PCC to carry out operations in an International Financial Centre (IFC) that can communicate with other jurisdictions efficiently and in a timely manner. The Mauritius IFC boasts interesting features such as:

  • A flexible and appropriate legislation,
  • Exchange liberalisation,
  • Free repatriation of profits and capital,
  • No capital duty on issued capital,
  • Confidentiality and banking secrecy and
  • Strong regulatory framework.

Advantages of setting up a PCC in Mauritius

  • The firm would be able to enjoy the Double Taxation Avoidance Agreements the country has with many emerging and developed economies around the globe. They would also benefit from Investment Promotion and Protection Agreements (IPPA),
  • There are no capital gains or inheritance tax involved,
  • No withholding tax on distributions made to any country and
  • The island is at a strategic location with a convenient time zone.

If you wish to learn more about PCCs or you want to set up one in Mauritius, feel free to get in touch with us.

The Protected Cell Company (PCC) was introduced in 2000 under the Protected Cell Companies Act 1999 of Mauritius. It can be set up only as a Global Business Company. The concept of this legislation allows a firm to remain a single entity while creating different segregated cells. As such, the assets and liabilities of each cell are legally separate from one another regardless of the fact that the company is corporately or individually owned. This implies that the PCC protects one cell from contagion from others, a form of legal segregation called ringfencing.

The main benefit of PCCs

Because each cell is isolated from the other, the liability of the PCC arising from transaction attributable to one cell will impact on its assets only. For instance, in case of bankruptcy of one specific cell, creditors will leverage the assets of that particular cell only to honour its liabilities. Thus, the PCC provides more opportunities, additional flexibility and security for international investment structuring.

Setting up of PCCs

 A PCC set up as a Global Business Company (GBC) will be able to benefit from the Double Taxation Avoidance Agreements executed by Mauritius with more than 40 countries across the globe. Additionally, even companies which have already been established in Mauritius may apply and convert into PCCs, on the condition that their constitution authorises this conversion. Lastly, through continuation, a company incorporated in a foreign jurisdiction can be registered as a PCC and carry on its activities in Mauritius.

While Protected Cell Companies are able to generate an unlimited number of cells, their creation is subject to the authorisation of the Financial Services Commission (FSC) of Mauritius.

Important features of a PCC

Distinct name or designation: All PCCs must have the word “PCC” or “Protected Cell Company” at the end of its name. Additionally, each cell must have its own designation or name. It could be the name of that particular cell’s share holder or it could be an alphabet to maintain anonymity.

A foreign company can continue to operate as a PCC in Mauritius using the name designated in its article of continuation and ending it with “Protected Cell Company” or “PCC”.

Single legal entity: PCCs can have several cells. However, each one must have its own distinct name or designation. Even if each cell is legally independent from others, it is not a legal entity and is created within the larger framework of a PCC. Moreover, the activities of each cell must be consistent with the overall activity of the PCC.

Capital requirement: There is no minimum capital requirement for a PCC or for each one of its cells. However, based on the nature of the business of the PCC, for instance, insurance businesses, the FSC is authorised to recommend certain capital requirements.

Taxation: Protected Cell Companies are liable to tax as a single legal entity. As a GBC, a PCC is liable to an income tax at the rate of 15%. Nonetheless, certain categories of income, such as dividend from foreign sources and interest from foreign sources, are subject to an 80% exemption rendering the effective tax payable to 3%Moreover, there are no withholding taxes on interests and dividends. As such, PCCs may also claim credits for actual taxes suffered against the nominal tax payable, such as for withholding taxes that are retained in their source countries.

This island of Mauritius has been attracting hundreds of investors because of several factors. It offers several advantages, both on a personal and on a professional level, so much so that it is now the fastest growing wealth market in Africa. This was revealed by a study from the intelligence firm New World Wealth. The country earned this title because of the number of millionaires who have decided to establish a business and to move to the country. In the year 2017 alone, this number grew by 20%.

The report looked at the performance of high-net-worth-individuals (HNWIs) in selected African countries between 2006 and 2016. These are individuals with a wealth of $1 million or more. The study placed Mauritius at the top in the continent for HNWIs. The strong growth of millionaires in the island can be attributed to several factors. These are:

  • Migration: a large number of wealthy individuals have moved to the island throughout the past ten years, especially from countries such as France and South Africa. 280 millionaires from the latter alone have migrated to Mauritius since 2006.
  • The jurisdiction’s strong economic growth and its thriving and expanding financial sector, especially in relation to offshore banking, fund management and private banking services.
  • Residency permits are given to a foreigner purchasing a home that is worth US$500,000 or more.
  • Secure ownership rights: This is the most important factor defining successful wealth creation across the globe. Ownership rights are very strong in Mauritius and this motivates people to invest in property and businesses in the country.
  • Low taxes: Related regulations both encourage business formation and appeal to retirees. Company and personal income tax rates are at only 15%, with no inheritance or capital gains tax.
  • Low level of government interference in the business sector, in contrast to other countries such as South Africa which has exchange controls, high taxes, big trade unions and BEE hiring requirements.
  • Ease of doing business in the country: Mauritius is ranked first in Africa in Ease of Doing Business Rankings in 2019 and it is at the 20th position worldwide among 190 countries surveyed by the World Bank.
  • A well-developed banking system and stock exchange program. This motivates people to invest their money in the country and to expand their wealth locally. It also ensures that economic growth taking place filters through wealth creation.
  • Those living in Mauritius are free to invest in foreign countries with no exchange controls. As such, the country can be leveraged as a business and investment hub.
  • It is a convenient base for investing and doing business in Southern and Eastern Africa.
  • It has a well-developed free media infrastructure.
  • Good lifestyle with several facilities. Residents can enjoy modern amenities as well as the beaches, golf courses and breath-taking scenery. They can also access first-class food & produce and top schools such as such as Northfields and International Preparatory School (IPS).
  • Safety: Besides its low crime rate, Mauritius has been rated by New World Wealth as the safest country in Africa.
  • Low jobless rate and low inflation rate.

Thanks to all these factors and further developments, it is expected that millionaires will keep moving to the country. According to analysts, there will be a 130% increase over the next decade.

For many, Mauritius may just be a small country of only 1.2 million people. However, the island is becoming increasing popular among foreign investors. It is recognised by experts in the offshore sector as one of the leading African markets for business-owners. The country has recently seen a sudden rise in interest from expatriates. This is due to an amendment in the laws related to the purchase of property on the island. The change sets a low threshold for obtaining residency on the island. The minimum amount is now at $500,000. Following this, the government has reported a significant increase in the number of foreign investors purchasing local properties, in particular along the country’s coastline.

Why set up your business and reside in Mauritius?

By several measures, Mauritius is already the leading African economy. According to a report by New World Wealth, it has the highest GDP per capita of $25,700. Moreover, The World Economic Forum ranks the island as the most competitive market in Africa. Besides being one of the continent’s fastest-growing economies, the country is also at the 25th position internationally on the World Bank’s table for ease of doing business.

An expert from a local property agency advanced that Mauritius is an “idyllic Indian Ocean Island destination, close to the continent and is arguably the top offshore property attraction”. When opting for the island, foreign investors will be able to benefit from a perfect living environment, from the advantages offered by its financial regime and from a dynamic bi-lingual workforce. The government has recently changed the property legislation and is working on an aggressive economic and investment strategy to establish itself as the new luxury destination in the African continent. Thanks to the new laws, it is easier for non-Mauritian citizens to obtain residency permits. They are eligible for these when purchasing a property under the government’s Property Development Scheme (PDS) with a minimum investment value of $500,000. The country has no Capital Gains Tax, dividends or inheritance tax and a universal tax rate of 15%.

According to the chief executive officer of residency and citizenship at an investment facilitator firm, foreign investors can get into the market for as little as $176,000 (this is approximately 6m Mauritian rupees), excluding taxes and legal fees, for a beach property that would be popular for rentals. For a commercial office, the amount quite less. It is at around R2.3m. Nonetheless, if they want to obtain permanent residency, higher levels of investment would be required.

Permanent residency permits

For details about Permanent residency permits, you can have a look at our previous articles. With so many benefits for foreign investors, both on professional and personal levels, it is not a surprise that investors are becoming increasingly interested in Mauritius and that it has become the new property hot spot in the African continent

Feel free to get in touch with us for any piece of advice regarding how to set up a company in Mauritius or how to apply and obtain any of the above-mentioned permits.

One of the benefits of establishing a company in Mauritius is that you can enjoy tax exemptions. Investors wishing to benefit from a five year tax holiday may apply for the following licences: Global Treasury Activities and Overseas Family Office.

Global Treasury Activities

The Mauritius Global Treasury Activities Licence gives multinational companies the opportunity to establish or relocate their regional treasury management services to Mauritius. Besides from the five-year tax holiday, they will be able to enjoy several other benefits. A corporation wishing to offer at least three of the following services to at least three related companies may apply for the Licence.

  • Arrangement for credit facilities, including credit facilities with funds obtained from financial firms in Mauritius or from surpluses from network companies,
  • arrangements for derivatives,
  • corporate finance advisory,
  • credit administration and control,
  • guarantees, performance bonds, standby letters of credit and services relating to remittances,
  • factoring, forfeiting and re-invoicing activities,
  • management of funds for designated investments and
  • other global treasury activities that may be specified in FSC regulations.

Moreover, besides the normal licensing requirements for Global Business companies specified by the FSC, the applicant must also have a physical office in Mauritius, must employ a minimum of four professionals with at least one at managerial level and it should incur an  annual expenditure of at least MUR 2m (approx. USD 60,000).

What are the benefits of this licence?

Companies operating from Mauritius will have the opportunity to benefit from the country’s extensive range of bilateral and multilateral agreements. They can also enjoy a sound legal system, good corporate governance, a reliable banking infrastructure, a qualified, skilled and experienced workforce and no foreign controls. Additionally, if they meet all the requirements, companies with a Global Treasury Activities Licence can enjoy a tax holiday of five years on corporate income.

To apply for this licence, promoters must, through a management company, submit standard material contract(s) or agreement(s) to be executed with related companies, an internal controls manual, track record and credentials of the promoter, shareholders and general information regarding the company to the FSC. These must also be accompanied by a detailed business plan alongside other documents.

Overseas Family Offices

The Overseas Family Office Licence was implemented to cater for the domiciliation of high net worth family and multifamily offices. There are two types of this licence. They are the Single Family Office and the Multi Family Office. Both of them are regulated by the FSC. What are the features of Overseas Family Offices?

  • Corporate tax residency in Mauritius,
  • Work and live permit for immediate family members in Mauritius and
  • Eligibility to acquire immovable properties in Mauritius.

As with Global Treasury Activities, if the licensee follows all the requirements set out by the FSC, he shall be granted tax holidays for a period of 5 income years.

If you wish to find more details on these licenses or you want to know more information on the application procedures, feel free to get in touch with us.

The Government of Mauritius has been trying to turn the country into an International Financial Centre (IFC) of choice in Africa. IFCs are defined as locations with a collection of financial services providers and facilities. They involve a substantial amount of international activity. Mauritius is home to a lot of foreign businesses. It is considered as a location of excellence in the African continent.

The Mauritius International Financial Centre (IFC) is an essential part of the Mauritian economy. It contributes almost US$1 billion to GDP (8% of total) and US$180 million in tax revenues (8% of total). The IFC is currently based on three pillars. These are

  1. Cross-border investment: This is its core area of specialisation. It involves the facilitation of cross-border investments and related fund administration activities. These operations make up 60% of the IFC’s economic value add and approximately 88% of IFC tax revenues.
  2.  Cross-border corporate banking: includes deposits from investment vehicles and accrued revenue from re-investment of these deposits. It accounts for 32% of the IFC’s economic value add.
  3. Private banking and wealth management: Local and regional banks report high growth in these operations for foreign customers. This is being driven by the divestment of African high net worth individual (HNWI) portfolios by European banks.

The Mauritian Government has the vision to double the size of its financial sector by 2030 and the IFC is aiming to grow its contribution to GDP, in real terms, to US$1.9 billion. This will increase tax revenue to US$0.3 billion in real terms and will lead to the creation of more jobs. These macro-economic ambitions is dependent on further training of Mauritians in the financial services industry and on an expat talent pool that would help develop the domestic financial and nonfinancial sectors.

The Mauritius IFC is currently very successful. Its status can be assessed by five competitiveness factors that the Financial Centre Futures Programme use to compile the Global Financial Centres Index (GFCI). These are

  1. Business environments: Mauritius is one of the most stable and attractive locations for doing business in Africa. This is because of its stable political and economic regime, tax attractiveness, internationally compliant and enabling regulatory framework, robust legal and judicial framework, and foreign currency availability with free capital flows.
  2. Human capital: Investors in Mauritius can benefit from a highly literate, low-cost and multi-lingual workforce. Moreover, relevant firms are currently focussed on attracting expatriate professionals, developing local talent in the relevant skills, and retaining skilled and experienced staff.
  3. Infrastructure: Some examples of excellent commercial property hubs in Mauritius are Port-Louis and Ebene. Many international financial services and IFC-relevant firms are based in these locations.
  4. Financial sector development: Mauritius is an investment grade jurisdiction having two strong local and three international banks that account for the whole market. Moreover, the Mauritius Stock Exchange is technically advanced and innovative.
  5. Reputation and other: The country has made considerable improvements with regards to transparency compliance with the highest international standards and attractiveness as a jurisdiction with deep specialisation in certain financial services.

In the 2018/2019 Budget, the Prime Minister and Minister of Finance announced several reforms to support and strengthen the Global Business Sector in Mauritius and to ensure that developments in the country are in accordance to international standards.

One of the decisions announced is that the FSC will stop issuing Category 2 Global Business licences (GBC2). This was implemented in January 2019. To replace this, the Financial Services Act was amended to introduce a new section 71A. It is titled ‘Authorised Companies’. This is a new type of company whose business activities and places of Management are outside of Mauritius. This implies that the company’s (other than a bank) majority of shares, voting rights or its the legal or beneficial interests are shared or controlled by someone who is not a citizen of Mauritius. This type of company, henceforth known as an Authorised one, is considered as a foreign company for tax purposes. Such a company will therefore not be subject to tax on foreign derived income. However, it does not have access to the Double Tax Avoidance Agreements networks of Mauritius.

If foreign investors wish to set up an Authorised company in Mauritius, they should apply for an authorisation from the FSC via a Management company. The latter is commissioned to act as a permanently-registered agent that is responsible for the administration of the company. What is its duty towards the non-Mauritian investor? The Management company is responsible for

  • filing of any return or document required under relevant Acts in Mauritius,
  • receiving and forwarding of any communication from and to the Financial Services Commission, the Mauritius Revenue Authority or the Registrar,
  • undertaking measures on combating money laundering and the financing of terrorism and related offences as required by guidelines issued by the Commission,
  • keeping of records, including board minutes and resolutions, transaction records and other such documents that the FSC may require,
  • and dealing with other services that the FSC might need.

Additionally, besides from having a registered agent to deal with the above-mentioned operations, the holder of an Authorised Company License must file a financial summary with the Commission once every year. It should also file the Company Tax Return with the Mauritius Revenue Authority every year (Authorised companies are tax-exempt in Mauritius but annual return has to be filed with the Tax Authority).  

What are the activities carried out by an Authorised Company?

The FSC has already delivered more than 859 Authorised Company Licences. What are these firms appropriate for? If you implement an Authorised Company in Mauritius, you will be able to carry out operations such as

  • investment holding,
  • property holding,
  • international trade,
  • management and consultancy,
  • IT services,
  • logistics,
  • marketing,
  • shipping and ship management or
  • One-off transaction using a Special Purpose Vehicle.

Nonetheless, the Financial Services Act state that Authorised Companies cannot perform financial services like banking; they cannot hold, manage or deal with a Collective Scheme (or Fund) as a professional administrator; they cannot provide registered office facilities, nominee, directorship or secretarial services and they are not allowed to provide trusteeship solutions. Moreover, they cannot conduct operations that may harm Mauritius’ reputation as an International Financial Centre and that are in contradiction to public interest.

Should you be interested in knowing more about Authorised Companies, feel free to contact us.

A previous article advanced that foreigners can apply for three types of permits if they wish to live and work in Mauritius. These are the Ocuppation Permit (OP), the Residence Permit (RP) and the Permanent Residence Permit. As discussed, the OP is a combined work and resident permit that allows a non-Mauritian investor, professional or self-employed to work and live in the country.

Retired-Non Citizen residence permit

A Residence Permit may be granted to a retired non-citizen who is more than 50 years old. This would allow him to reside in Mauritius and is applicable for a period of 3 years. It is renewable if established criteria are met. The applicant must be willing to make an initial transfer of at least USD 2,500 to his local bank account in Mauritius. After that, he should transfer at least USD 2,500 monthly or send instalments that amount to at least USD 30,000 per year. The spouse and children of a Residence Permit holder may also apply for residence permits that do not exceed the duration of that of the RP holder. This is also applicable for step children and lawfully adopted children.

A non-resident holding a residential property under the Property Development Scheme, the Integrated Resort Scheme or the Real Estate Scheme is also eligible to apply for a Residence Permit on the condition that the acquisition value is at least 500,000 USD.

The Permanent Residence Permit

The Permanent Residence Permit allows its holder, a non-citizen, to live and work in Mauritius for a period of 10 years. The following categories are eligible for this permit.

  • An investor having a valid Occupation Permit for three years preceding the date of application for the Permanent Residence permit and whose company has an aggregate turnover exceeding a cumulative amount of Rs45 million for a consecutive period of 3 years.
  • A self-employed with an Occupation Permit for three years immediately preceding the date of application for Permanent Residence Permit. His income should be more than Rs3 million every year during each of these three years.
  • A professional holding an Occupation or a Work Permit for three years. He must have drawn a basic salary of at least Rs150,000 per month during the entire three year period.
  • A retired non-citizen having a Residence Permit for three years. He must have transferred at least 40,000 USD or its equivalent in convertible currency annually during each of these three years to Mauritius.
  • A non-citizen who has invested a minimum of 500,000 USD in a qualifying activity in Mauritius. These sectors are :  Agro-based industry, Audio-visual, Cinema and Communication, Banking, Construction, Education, Environment-friendly and green energy products, Financial Services, Fisheries and Marine Resources, Freeport, Information Technology, Infrastructure, Insurance, Leisure, Manufacturing, Marina development, Tourism and Warehousing, Initial Public Offerings.
  • He must be registered as an investor with the Board of Investment.
  • A non-citizen who is a member of the Mauritian Diaspora. He must be registered with the Board of Investment under the Mauritian Diaspora scheme.
  • A non-citizen who acquires property priced at a minimum of USD 500 000.

When applying for an Occupation Permit or a Residence Permit as Retired Non-citizen, the applicant should be physically present in Mauritius

 [JD1]Permanent residence is also offered to people who buy property priced at a minimum of USD 500 000

 [Z2]I’m sorry but I cannot find this info neither in the PDF nor on the govt’s website. I added it but was unable to elaborate. Apologies.

The government and the Economic Development Board of Mauritius are working to position Mauritius as an International Financial Centre of excellence in the African continent. The 2019-2020 budget which was recently presented included several measures that will be taken to establish the country as a Fintech hub.

It was revealed that the Financial Services Commission will use technologies such as Robotics and Artificial Intelligence to develop innovative financial advisory services. These systems will help companies to study the businesses they are investing in and they will provide reliable recommendations based on an analysis of the market. Moreover, a new licence will be introduced for fintech Service providers and the government will encourage self-regulation for financial activities in consultation with the United Nations Office on Drugs and Crime. The introduction of e-signatures and e-licences on a pilot basis and the ability to create crowd-funding campaigns as licensable activities will also be part of the new innovations implemented.

For Mauritius to be recognised as a fintech hub of choice, a new taxation system for banks and regulatory guidelines are also required. This is because, currently, developments in the financial and technology sector are focussed on payment activities and this market is still dominated by traditional institutions. While there is a lot of interest among entrepreneurs to invest in new technologies, the fintech industry is still emerging. It is not completely part of the country’s financial regime and start-ups have not begun to displace conventional institutions yet. It is expected that the establishment of these organisations in the financial market will lead to two possible outcomes:

  1. In the long run, Mauritius’s financial regime will become more conversant with the fintech market and the products it offers. This will lead to new technologies and companies displacing traditional payment service providers.
  1. Traditional financial institutions, such as banks, will adopt new technologies to implement innovative solutions. It is very likely that they will partner with fintech companies for co-development of facilities and for testing among consumers.

Banks have already undertaken the necessary measures to keep up with the rapid changes taking place in the country so that they form part of the fintech sector and start-ups can get their activities running smoothly. For instance, The Bank of Mauritius has already issued specific guidelines. The first one is related to Internet Banking. This sets out a regulatory framework that all institutions should adopt if they offer Internet Banking services in Mauritius. This recommendation presents the strict minimum standards that firms must observe and it also lists out the requirements and processes involved in obtaining approval from the Bank of Mauritius to offer these services. It is to be noted that fintech firms are free to adopt standards and practices that are more stringent if they suit their operations and circumstances. Other changes are related to mobile banking and on the infrastructure behind this solution. They have been devised to promote a sound and reliable financial system in Mauritius. These are effective regulatory measures that will help Mauritius become the fintech hub of the African continent.

An important part of establishing a business in Mauritius is being aware of its economic policies and regulations with regards to its fiscal regime. The country’s current system is defined by transparency and fairness. This article will explore this in more depth.

The non-bank economic sector and the global business industry in Mauritius is regulated by the Financial Services Commission (FSC). Established in 2001, the FSC promotes the ‘development, fairness, efficiency and transparency of financial institutions and capital markets’ in the country. Together with the Financial Services Promotion Agency (FSPA), this institution works towards making Mauritius an International Financial Centre of excellence.  Both firms advance that Mauritius has always practised a policy transparency and exchange of information, which ensures than financial firms operating in the country are trustworthy and reliable. In 2015, it signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters.

Besides that, the Mauritius International Financial Centre (IFC) is a guarantee of the country being an ideal environment for corporates to operate their business in Mauritius. They can trust in the fiscal regime because of a hybrid legal and conducive regulatory framework. The Mauritius IFC has forged a reputation as a safe, trusted and competitive organisation. Mauritius is now the preferred jurisdiction for FDI flows to the continent since it can serve both Francophone and Anglophone Africa. It has been at the forefront of driving quality investments into Africa. it is at the first position in the continent and at the 20th one worldwide for ease of doing business by the World Bank.

The fiscal regime in Mauritius is defined by a transparent mechanism which provides for a level playing field. Moreover, all businesses and individuals can benefit from a competitive tax bracket which is valued at a single rate of 15 percent. This regime has been successful across various sectors. It has generated substantive economic activities throughout Mauritius. The country also boasts 21 Double Tax Avoidance Agreements. These will give foreign investors the opportunity to be exempt from double taxation of the same income in two countries. They can also benefit from the Investment Promotion and Protection Agreement (IPPA). This is a bilateral agreement that protects and promotes foreign investments through legally binding rights and obligations. It guarantees free repatriation of investment capital and returns, arrangement for settlement of disputes between investors and the contracting states and it guarantees against expropriation.

Moreover, as advanced by the FSC and FSPA, Mauritius is an active member of the Eastern and Southern Africa Anti Money Laundering Group. This institution aims to reduce money laundering in Eastern and Southern Africa by implementing recommendations of the Financial Action Task Force. This demonstrates that Mauritius has always been striving to fight against international tax evasion and other illegal practices.

The above-mentioned developments demonstrate that Mauritius is a reliable country whose economic activities are regulated by both local and international institutions. This ensures the soundness and stability of its financial system.  It can be seen as the ideal hub for investing in growing regional markets.