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Mauritius Budget Brief 2017-2018
Foreward The Honourable Pravind Kumar Jugnauth, Prime Minister, Minister of Home Affairs, External Communications and National Development Unit , Minister of Finance and Economic Development, delivered his Budget Speech for the fiscal year 2017/2018 on 8th June 2017. This year’s budget is set against the backdrop of ten key measures…
Mauritius Commits to Sign the Multilateral Convention
Mauritius, as a fully collaborative and responsible International Financial Centre (IFC) of substance, has always supported the implementation of best practices as set by leading globally recognised institutions. To this end, in June 2015, Mauritius signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters, jointly developed by the…
Mauritius Business Facilitation Program
Ease of doing business is recognized the world over as a desirable attribute in trying to attract business into a jurisdiction. Over 10 years ago, the Business Facilitation Act 2006 (BFA) was introduced to improve the Mauritian business environment. Several measures were introduced such as the cut down on paperwork…
UK Property: Have They Killed the Golden Goose?
After investment in the UK property market sank to its lowest level in four years during the quarter after the Brexit vote, with the first quarter of 2017 well behind us, investment into UK real estate is not looking as gloomy as one would have anticipated and investment by non-UK…
Mauritius Property Purchase by Non-Citizens
With its attractive tax system and physical location, Mauritius has attracted its fair share of people attracted to relocate there for both the fiscal and physical attributes. In order to attract HNW’s to make it their home, Mauritius has offered several property investments, which lead to a right to live…
The OECD Common Reporting Standard
The Common Reporting Standard (“CRS”) was born out of an OECD-led initiative currently supported by over 100 countries (“Participating Countries”). CRS requires jurisdictions to obtain information from their financial institutions and automatically exchange that information with other jurisdictions on an annual basis. The purpose of CRS is to counter tax…
Italian Investment Visa To Complement The Resident Non-Domiciled Scheme
As we have detailed in earlier blogs, Italy has recently announced the introduction of an attractive resident-non-domiciled type scheme aimed at attracting high net worth individuals. Allied to this there has also been an introduction of a new Visa scheme aimed at allowing wealthy individuals to obtain residence in Italy.…
Mauritius GBC1 Company To Own A Private Jet And Register It In The Cayman Islands
The Cayman Islands is one of the premier aircraft registration regimes in the world, often competing only with the Isle of Man in that regard. What is often not recognised is that registration is not restricted to Cayman Islands Entities. We deal with it in more detail here but a Mauritius…
2017 Index of Economic Freedom (IEF) Reports Mauritius Retains Top Spot In Africa
Globally Mauritius ranks 21st as a “Mostly Free” economy by the 2017 Index of Economic Freedom (IEF 2017) but remains the top-scoring country in Africa. The IEF 2017 is based on 12 quantitative and qualitative factors, grouped into four broad categories and assesses 180 countries and is based on the…
Hold on Changes to UK Taxation of Res Non-Doms
The UK has a well-established Resident Non Domiciled (“Res Non Dom”) scheme, which allows those residents of the UK who are domiciled outside of the UK to elect to be taxed only on UK source income (remittance basis of taxation). Our article of September 2011, found here, sets out the then…