Advisory Services in Mauritius: An Overview Governments, organisations and businesses come across an ever-evolving global landscape which forces them to change and transform themselves on a continuous basis in order to remain relevant and competitive in the market. The advisory services in Mauritius offered by Enterslice help global and local investors and governments with long-lasting solutions on the basis of deep industrial understanding, professional experience and trusted relationships. Our advisory solutions are designed keeping in mind our client’s priorities. The clients can avail of our services when the transactions are being contemplated or are in process. Types of Advisory services in Mauritius Following are the types of advisory services that are offered by Enterslice in Mauritius: Company structure Advisory Mauritius is an International Financial Centre that offers a number of business opportunities for both foreign and local investors. If you want to take the maximum benefit of the opportunities available, it is necessary to have a clear understanding of the available company structures that businesses can adopt in Mauritius and how they can be used to achieve specific business objectives. The most common business structures that are adopted by businesses in Mauritius include the Domestic Company, Global Business Company, Protected Cell Company, Foreign Company, Limited Life Company, Dormant Company, and Authorised Company. These companies can be limited by shares, limited by guarantee and limited by both shares and guarantee. The minimum capital requirement for setting up Global Business Corporation (GBC) in Mauritius is USD 1. There must be at least 2 directors and 1 shareholder, who must be ordinarily resident in Mauritius for the incorporation of a GBC. The office premises of the company should be located within Mauritius only. However, for the incorporation of an authorised company, the minimum capital requirement is USD 1 and the minimum number of resident directors in Mauritius is 1 and 1 shareholder. The procedure of setting up a company or corporation in Mauritius begins with choosing an appropriate business entity, followed by reservation of the company’s name. Thereafter, all the documents are arranged reflecting the required information for setting up a company in Mauritius and submitted with the appropriate authority along with the application for registration of the company. Thereafter, the Registrar of Companies assesses the application and grants the certificate of incorporation. A company is also required to open a bank account too after incorporation and be compliant with the post-registration compliance requirements. Market entry advisory Those investors who wish to enter the Mauritian market must partner with locally established agents or distributors, especially while bidding for large government projects. Mauritians are bilingual in French and English, and Mauritian Creole, which is a modified form of French, is the mother tongue of most Mauritians. The best opportunities that are available for foreign companies lie in clean and renewable energy, energy-efficient building design and equipment, franchising, healthcare services and medical equipment, and pharmaceuticals/drugs. Security/safety equipment, port handling equipment, ocean-related industries and services, restaurant and hotel equipment, industrial/ agricultural machinery and technology, information and telecommunications technology, financial services, business process outsourcing, digital trade and services and consultancy services. There is a big scope for foreign investors in the food and agriculture sector, including wheat, corn/soybean for animal feed, crude vegetable oil, bio-farming technology, seeds (potato, onion and other vegetables), food processing technology, and seafood. Market entry services offered by Enterslice help investors and companies plan, manage and execute their entry into the Mauritian market. We offer guidance on various aspects of market entry, such as market research, market analysis, competitor analysis, target customer identification and regulatory compliance. Our objective is to assist you in successfully making inroads into the Indian market and maximize your returns on investments. This requires deep market intelligence and insights into the local market conditions, regulatory environment and business practices. Business implementation advisory No matter how good a jurisdiction ranks in the ease of doing business rankings, it is always a tedious job for a foreign investor while making its inroads into new jurisdictions. This ranges from navigating through the jurisdiction’s regulatory framework to identifying and accessing potential business partners, customers and suppliers. Mauritius has a vibrant business community, and Enterslice assists investors and businesses like yours in connecting with the right organisations and individuals and helps forge strong relationships for future business needs. We also offer assistance in establishing effective and efficient operational processes and systems, which includes setting up local offices, selection of suppliers and partners, recruitment of the local staff and development of sales and marketing strategies. The team of consultants at Enterslice assess your readiness to drive systematic execution, identify gaps in execution capabilities and lays down a tailored roadmap for managing change. We heavily emphasize upskilling our client’s execution capabilities. Our consultants bring decades of industry experience bringing execution in complex organisations. We coach our clients, conduct on-site and virtual observations, integrate performance management tools and build capacities to improve the organisation’s performance. Management hiring advisory Whenever investors and businesses enter a new market, hiring the right management can be a challenging task and requires careful planning and execution. This is where management hiring advisory services come into play. The objective of the management hiring advisory offered by Enterslice is to help investors and companies like yours hire the right management team and maximize your returns on investment. Enterslice offers assistance in identifying and accessing the top human resource for your company. Mauritius offers a highly skilled and educated workforce, and management hiring services offered by Enterslice can help you connect with the right individuals and build strong relationships. We also help companies in designing and implementing effective compensation and benefits packages. Additionally, we offer assistance with the negotiation of benefits and salaries, the design of incentive and bonus plans and the implementation of stock option plans. Corporate tax advisory In Mauritius, all the corporations that have been registered in Mauritius are subject to a uniform corporate tax at the rate of 15%. However, this rate of tax is not applicable in the case of Global Business Corporations where they are provided foreign tax credits, credits for actual tax paid, which reduce the overall burden of corporate income tax on the corporation and reduce it down to the net effective rate of 3% and in some cases to as low as 0%. Those Global Business Corporations that are controlled and managed from Mauritius and are tax residents in Mauritius can avail the benefit from the reliefs arising out of the Double Tax Avoidance Treaties by making a written request to the Commissioner of Income Tax. It must be noted that these tax benefits are not available with the Authorised companies because they are not considered tax residents for tax purposes. It must be remembered that Mauritius does not impose a withholding tax on capital gains, dividends or interests, and no stamp duties are levied. The tax returns of every company in Mauritius are filed with the Registrar of Companies at least once every year within a period of 28 days from the date of the Annual General Meeting. These tax returns must be signed by either a secretary or a director of the company. Further, Global Business Corporations are also obligated to file their annual financial statements along with the financial summaries with the Financial Services Commission. Advisory on domestic and overseas property ownership Foreigners are allowed under Mauritian law to invest in real estate in Mauritius. For several years, Mauritius has been running residency-by-investment programmes to attract foreign investment. In 2016, the Mauritian government came up with Property Development Scheme (PDS), which included residential properties like luxury apartments, villas and condominiums. According to the scheme, the price of the property should be at least USD 375,000 or MUR 6,000,000. On acquisition of such property, the foreigner is granted a residence permit for a renewable ten year term. The owner still has the option to rent the property or resell it. On the purchase of a property for at least 375,000, the residency permit is issued to the buyer, his/her spouse, children and parents if they are retired so long as the buyer remains the owner of the property. By investing in real estate in Mauritius, you are introduced to the attractive tax regime of Mauritius. Income generated from renting a property in Mauritius is capped at 15% for all residents. Moreover, Mauritius has also signed multiple tax treaties with several countries, which allow exemptions from payment of taxes on the acquisition of property in Mauritius. Furthermore, the tax regime of Mauritius does not include capital gains tax, housing tax, property tax, inheritance tax etc. Therefore, owning a property in Mauritius is a valuable investment opportunity for anyone, including an investor, tourist or expatriate, as it offers numerous benefits and opportunities. There is an abundance of options for overseas and domestic property ownership in Mauritius, and the right fit for your role will depend on your specific needs and circumstances.