Mauritius is not only a white sand beach but also a major and best option gateway to get you doing business in India’s and Africa’s emerging markets. Mauritius geographically is situated off the southeastern Africa coast inside the Indian Ocean about 900km on Madagascar’s east. Since the time it attained independence back in 1968, the country has grown the diversified economy which has sustained growth mostly in tourism, finances, and industry.
Its government laid much of its focus on foreign investment with currently plus 9000 offshore companies functioning trading with South Africa and India. It has since 2005 done away with most taxes imposed on various goods in pursuit of converting that island to that shopping paradise.
Mauritius is a known offshore jurisdiction featuring plus 10000 offshore companies which are already functional with most of the companies being trading companies which shows that it is only after the short period and the island turns into e-commerce activity center.
However, when thinking of setting up an offshore company , below are the most ideal to major on:
There are some costs which come along with opening offshores in Mauritius and such include:
Before you can start off the company, you pay government charges but also a service fee is affected since you require company secretary a person who will act as the representative of your company with responsibilities of efficient company administration more so ensuring that the company complies with regulatory and statutory requirements.
As well the secretary will ensure implementation of directors’ decisions. The service fee combines; fees for corporate secretarial structuring and basic fee for an establishment.
It’s a requirement that the secretarial service for the company is maintained annually as that secretary will help in some key functions such as:
As per the government policy on finance, any non-resident company is required to pay some fees every year so as to keep the licenses of the company. Other countries include an annual return fee but Mauritius does not include that and so you will need to pay only the license fee annually.
The offshore companies are required to:
Advantages of offshore companies
Disadvantage of offshore companies
The greatest of all disadvantages is that it is very difficult to hire new employees and hence this becomes too bad especially once the takeover turns effective and new management fails to retain the employees which were there prior. Such leads to legal deputies as well as delayed acquiring of terminal benefits.