Why invest in Mauritius
Mauritius has an attractive and thriving place for business as its ease of doing business ranking and stable governance creates the perfect business climate possible.
Mauritius is the perfect home to the citizen of the world. The island is often referred internationally as the “Star and Key of the Indian Ocean”. “Star” for its strategic location on the network of air and sea routes between Asia, Europe and Africa and “Key” as an international financial hub of excellence that ‘unlocks’ business opportunities and access to the African continent. Here some reasons why you should consider investing in Mauritius.
Enabling Business Environment: Mauritius has the most enabling and appealing business environment in the the sub-Saharan African region. Politically stable and fully secured, the island enforces a strong independent hybrid judiciary system based on the French Code Civil and the British legal System. It has strong public and private supporting and collaborative institutions and a working democracy with a free press. Mauritius ranked among the 21 countries considered as “Full Democracy” by the Economist Intelligence Unit in 2022 and is the only country in Africa to be considered as such.
Bilingual: Local labour force is bilingual, often trilingual with English and French being the main languages used together with the native creole. The rate of literacy is about 93%. The opening up of the economy has had a favourable impact on the growth rate of the country with increased transfer of technology, knowledge, talents and capital. In its pursuit to become a high-income economy, Mauritius is actively encouraging foreign talents, know-how and investment into the country.
Strategic Location: Mauritius is strategically located in the Indian Ocean, making it a gateway for business and investment opportunities in the region. Its proximity to Africa and Asia positions it as a hub for international trade and investment.
Political Stability: Mauritius is known for its political stability and well-established democratic system. This stability provides a conducive environment for business and investment, reducing political risks that can impact returns.
Economic Diversification: The Mauritian economy is diversified across various sectors, including financial services, tourism, textiles, agriculture, and information technology. This diversification can help mitigate risks associated with dependence on a single sector.
Ease of Doing Business: Mauritius has consistently ranked well in international indices measuring ease of doing business. The government has taken steps to streamline regulatory processes, reduce bureaucracy, and encourage foreign investment.
Investor-Friendly Policies: The government of Mauritius has implemented investor-friendly policies and incentives to attract foreign investment. These incentives may include tax benefits, duty exemptions, and investment protection agreements.
Double Taxation Treaties: Mauritius has an extensive network of double taxation treaties (DTTs) with various countries. These treaties aim to prevent double taxation and provide a framework for the exchange of information, which can be beneficial for international businesses.
Financial Services Hub: Mauritius has positioned itself as a reputable financial services hub, attracting investors looking for opportunities in banking, insurance, asset management, and offshore services.
Tourism Potential: Mauritius is a popular tourist destination known for its beautiful beaches, rich cultural heritage, and natural attractions. The tourism sector offers investment opportunities in hospitality, real estate, and related services.
Skilled Workforce: The country boasts a well-educated and skilled workforce, with proficiency in languages such as English and French. This can be advantageous for businesses requiring a talented labor pool.
Infrastructure Development: The government has invested in infrastructure development, including transportation, telecommunications, and energy. These improvements support economic growth and enhance the business environment.
Green and Sustainable Initiatives: Mauritius has been exploring sustainable development initiatives, including renewable energy projects and environmental conservation efforts, which can align with the values of socially responsible investors.
Cultural Diversity: The cultural diversity of Mauritius fosters a dynamic business environment and provides opportunities for cross-cultural collaboration and innovation.
While these are some compelling reasons to consider investing in Mauritius, it’s important to conduct thorough due diligence and seek advice from legal, financial, and business experts like Órama Corporate Services before making any investment decisions. Economic and regulatory conditions can change, so staying informed about the latest developments is crucial for making informed and successful investments.
Starting a business in Mauritius
To start a business in Mauritius, a person or a company must follow certain procedures. The person or company need to consult a credible licensed management company like Órama Corporate Services who will liaise with the Registrar of Companies and by submitting the required documents at the office. Registration of an individual business entity can take between 3 to 4weeks depending on how quick you provide the documents required. The Corporate and Business Registration Department administers the Companies Act 2001, the Business Registration Act 2002, the Insolvency Act 2009, the Limited Partnerships Act 2011 and the Foundations Act 2012. It has as its main functions the incorporation, registration and striking-off of companies, Registration of Businesses and the enforcement of compliance with the legal requirements.