Osiris opened its office in Mauritius some 2 years ago. It has been a happy move both from a personal as well as a corporate point of view and we thought it useful to share some of our experiences as to why Mauritius proves a superb location from which to base a regional trading or headquarter company.
- Transport links. Mauritius has many direct air links both to the continent of Africa as well as Europe and Asia. There are twice daily flights from Emirates which connect just about everywhere, as well as daily flights from Paris and several locations in South Africa. Semi-weekly flights connect London as well as Shanghai, Hong Kong and Nairobi, among others.
- Work force. Mauritius has a population of some 1.3 million well educated and hard-working people. If you are setting up a new business you will find it relatively easy to find qualified accounting, managerial and clerical staff.
- Absence of exchange controls. For those South Africans considering the move, this is often one of the prime motivations. Although Excon is now likely to say yes to most reasonable requests, the mere fact of having to ask is often either inhibiting or at the very least an irritation.
- Reasonable tax system. 15% personal tax and 15% domestic corporate tax rates with a complete absence of Capital Gains Tax are what made Hong Kong great, and they are doing the same thing here. Obviously it is also possible to get a 3% rate if the trade is conducted outside of Mauritius, which is very enticing.
- Double tax treaty network. This has often been touted as one of the reasons for Mauritius’ success. This is true and in particular the treaty with India and the network of treaties into Africa is one of the best in the world and plays a key role in selecting the country as one to use for a regional headquarter company.
- Banking. Most of the big South African and regional banks are here. Not only is transactional banking available, but also sophisticated corporate finance and lending facilities for property and other ventures into Africa and elsewhere.
- Telecommunications. Whilst not its strongest point, the fibre optic network is expanding daily and routine uncapped speeds of 30mg are common.
- Education and health. Once you move your company, it makes sense to move yourself. Private education is readily available at a high standard, although there is always a scramble for places in the better schools. Medical services are of a high standard and most people are happy with seeking help domestically as opposed to travelling for medical assistance.
- Work permit process. It is quick and easy to get a 3 year work permit if you have the right qualifications and are setting up a business or moving to help one get going. Other rights of residence are also freely available including retiree permits, residence on the basis of property purchase or starting a new business etc.
- It’s a fun place to live. The weather is superb, there are loads of restaurants, outdoor sea related pursuits are on offer, not to mention a host of good golf courses.
All in all we recommend it both from a corporate and personal viewpoint, and invite you to contact us if you would like to experience life with these benefits.