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KEY ADVANTAGES OF MAURITIUS
Mauritius introduced global business incentives in 1992 and is now recognized as a leading regional financial centre. It has always featured on the G-20 white list for international financial centres.Financial services are an important pillar of the economy after industry, tourism and agriculture. The government encourages financial companies wishing to establish an operational base of substance in Mauritius.
FACTORS FAVOURING MAURITIUS
The Republic of Mauritius has had a democratic system of government since independence in 1968. The President is the Head of State and full executive power is vested in the Prime Minister who is the Head of Government.Strategically located, Mauritius is a convenient bridge between Africa and Asia.Mauritius has experienced exceptional political and social stability. It has strong democratic institutions, including an independent and efficient judicial administration.
INCORPORATION OF FUND ENTITIES
At Sphere (Mauritius) Limited we help with the incorporation of the fund entity by drafting an M&A, incorporate the fund entity and provide a registered agent and a registered office. Our solutions are comprehensive as they include
Mauritius strives to have up to date legislation which keeps pace with the industry’s best practice. The following legislations have been introduced:
The Companies Act 2001 and the Financial Services Act 2007 are the core legislations regulating the Global Business Companies.The Insolvency Act 2010 governs insolvency proceedings and the Securities Act 2005 and the Securities Act (Collective Investment Schemes and Closed end fund) Regulations 2008 governs the regulation of funds and financial services providers such as investment managers and advisors.Trusts are governed by the Trusts Act 2001.The Income Tax Act 1995 govern the taxation of companies and individuals. The Income Tax (Foreign Tax Credit) Regulations 1996 is also relevant to global business entities.
Mauritius has since 2002 introduced the Financial Intelligence and Anti-Money Laundering Act 2002 (FIAMLA), the Prevention of Corruption Act 2002 (POCA) and the Prevention of terrorism Act 2002 (POTA). All these Acts have led to the establishment of agencies such as the Financial Intelligence Unit (FIU) and the Independent Commission Against Corruption (ICAC) with a common objective of eradicating corruption, terrorism and money-laundering activities.
DOUBLE TAXATION TREATIES (DTTs)
Mauritius has an extensive network of tax treaties with countries in Asia.
Our experience with Sphere has been incredible. Despite our being a relatively small fund, their team has been consistently responsive & proactive, amazingly helpful and, most importantly, patient and flexible. Access to their network has been worth its weight in gold. We are grateful to the Sphere team for all they have done and continue to do.
With Sphere, I am in safe hands… I can go on holidays now..
Being in the Financial Services for over 40 years, I have seen a trend where Big Institutions are more concerned about profits than their valued clients. It is therefore pleasing to evidence outstanding service from Sphere. I am most impressed with your service.