Mauritius is not only a safe and business-friendly nation, it's a true hidden gem amongst the world's best up and coming investment destinations. Located just east of Madagascar in the India Ocean, this island nation is close to several emerging markets in both Africa and Asia. In fact, Mauritius is considered India's top investment destination attracting over $ 10 B in various sectors of the economy. With strong manufacturing, agricultural, financial, and tourism industries, it has become a very well-diversified economy. As such, Mauritius has maintained a brisk annual economic growth rate of roughly 5% since the government implemented economic reforms over 30 years ago. This year, however, the country expects to witness an astounding 5.6% growth rate. In light of growing trade relations with China and India, more economic growth is sure to follow.
Over the last 10 years, Mauritius has become an offshore hot spot, having already registered more than 32,000 offshore entities. Non-resident Indians have increasingly used the entities for tax shelter. Since the entities are also a way to funnel international money into India, the Indian government allows the practice to continue uninterrupted.
Offshore company formation is inexpensive and seamless. Forming such an entity (GBC I) costs just $ 2,000 with only $1,500 in annual fees. There's a competitive tax rate of no more than 15%, but you'd be eligible for an 80% foreign tax credit. Since the process takes less than 10 business days, the World Bank's "Doing Business Survey 2009" ranked Mauritius as the world's 25th easiest place in which to do business, the highest ranking in Africa and the Indian Ocean region.
The country's offshore banking law allows licensed banks to accept deposits from and lend to foreign clients without exchange controls. In fact, some of the world's largest banks have a significant offshore presence in Mauritius including HSBC, Barclays, and Standard Chartered Bank.
Earlier this year, Mauritius' principal stock exchange, the SEMDEX.MDEX hit an all time high. The index attracted a 170% increase in investment over last year as foreign money sought a safe haven. As a correction has just occurred along with other world markets, it might soon be time to consider investing.
Unlike the real estate slump affecting most of the Western world, Mauritius is still benefiting from strong demand in its housing market. One of the country's newest and largest housing developments, Villa Valriche, just reported that it has sold nearly all of its million dollar properties. The truth is that highly desired tropical islands such as Mauritius, Bermuda, Tahiti, etc. always have a high demand for housing, even during global real estate slumps. That's why huge Indian developer, Omaxe made a deal to build another new home project in Mauritius.
Businesses can take advantage of easy access to some duty-free goods and access technological infrastructure. For one, a customs-free zone for re-exportable goods (Mauritius Freeport) is located in Port Louis, the capital. In addition, the island's Cyber City was launched a few years ago to provide a huge telecommunications network to businesses over both satellites and fiber optics -- truly at the forefront of information technology. Unlike other small islands with limited and expensive resources and technological infrastructure, Mauritius is a place where your business will thrive.
Since Mark Twain visited the island and said, "You gather the idea that Mauritius was made first and then heaven..." There are certainly many reasons for visiting Mauritius. That's why nearly 900,000 tourists visited the island, a 100% increase from ten years earlier. Besides its beautiful beaches, proximity to pristine coral reefs, and excellent weather, Mauritius offers tourists casino gaming. As gambling is either illegal or very limited in India and most of East Africa, Mauritius could become the playground to new money in the developing region. Now luxury has arrived in Mauritius with yesterday's opening of the Four Seasons Resort at Anahita. The resort features an 18-hole golf course, a private island and lagoon, and nearly 11 acres of beachfront property.
Mauritius is a stable, well-located, highly developed and business-friendly piece of paradise that is waiting for you. Here, you'll find an easy and inexpensive incorporation process, access to everything your business needs and a booming economy. Simply put, it's hard to find another tropical island quite like this one.
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