Mauritius offers foreign investors with an extensive network of treaties and double taxation agreements (“DTA”s) making it the gateway for investments into, amongst other areas, India and African continent.. Having been channelled through Mauritius since the early 1990’s, the assets amount to over six hundred billion United States Dollars ($ 600.00 billion). In comparison to its offshore financial centre competitors, only Luxembourg has a larger portfolio of foreign direct investments relative to the size of its economy (fifty times (50.00) for Mauritius). Additionally, Mauritius has a favourable network of investment promotion and protection agreements on top of the DTAs in force.
The Government of Mauritius constantly stresses a focus on service quality, providing foreign-based investors with a business-friendly environment within a rigorous regulatory framework. Mauritius adheres to internationally and globally recognised standards, meaning that it is “White” listed by the Financial Action Task Force (FATF) and thus considered and regarded as an equivalent and compliant jurisdiction internationally. Mauritius has also been one (1) of the first offshore financial centres to implement the United States Foreign Account Tax Compliance Act (FATCA) as well as becoming an early member of both the South African Development Community (SADC) and the Common Market for Eastern and Southern Africa (COMESA).
The table below provides information relating to the geography, the demography and the government of Mauritius.
GMT + 04:00
English, French, Hindi and Creole
|Ethnic groups||Indo-Mauritian, Creole, Sino-Mauritian and Franco-Mauritian|
|Religions||Hindu, Roman Catholic, Muslim, other Christians and others|
Population growth rate
|13.10 / 1,000|
|7.00 / 1,000|
HIV rate (2015)
9 districts and 3 dependencies
12 March 1968
12 March 1992
Adopted in 1968 and amended in 2015
|By birth, descent, naturalisation and dual|
|18 years of age|
Head of State
Chief of State
|Executive, legislative and judicial|
|The Dodo bird|
|Flag colours||Red, blue, yellow and green in four superposed horizontal lines|
Source: The Central Intelligence World Fact book (2016 data unless otherwise specified) and the Mauritius Central Statistics Office (2016 data unless otherwise specified).
Mauritius Economic Data
The table below provides information relating to the economy of Mauritius.
|Mauritian Rupee (Rs. or MUR)|
GDP per capita (US$)
|Gross national savings – % of GDP||
GDP (US$ billions)
GDP growth rate (annual)
Inflation – GDP deflator
Services – value added % of GDP
Industry – value added % of GDP
Agriculture – value added % of GDP
Exports of goods and services – % of GDP
Import of goods and services – % of GDP
Gross capital formation – % of GDP
Revenue excluding grants – % of GDP
|Net lending (+) / net borrowing (-) – % of GDP||-3.20%|
Source: The World Bank (2016 data unless otherwise specified), the Central Intelligence World Fact book (2016 data unless otherwise specified) and the Mauritius Central Statistics Office (2016 data unless otherwise specified).
Mauritius Competent Authorities
The Global Business sector in Mauritius is primarily overseen by the four (4) government bodies listed below:
- The Financial Services Commission of Mauritius
The Financial Services Commission (the “FSC”) is the regulatory authority responsible for the regulation, supervision and inspection of all financial services other than banking in Mauritius. The FSC operates under the tutelage of the Mauritius Ministry of Finance and Economic Development (the “MFED”).
- The Corporate and Business Registration Department
The Corporate and Business Registration Department of Mauritius (the “CBRD” or “ROC”– Registrar of Companies, as it is often referred to locally) is the government office responsible for the incorporation, registration and striking off of legal entities in Mauritius and operates under the tutelage of the MFED.
- The Mauritius Revenue Authority
The Mauritius Revenue Authority (the “MRA”) is the revenue authority of the Government of Mauritius and operates under the tutelage of the MFED. The MRA is responsible for the assessment of liability, the collection and accountability of taxes and the management, operation and enforcement of revenue laws.
- The Board of Investment
The Board of Investment of Mauritius (the “BOI”) is the national investment promotion agency of the Government of Mauritius. Its primary functions are to promote and facilitate investments in Mauritius. The BOI is the first point of contact for investors willing to explore business opportunities in Mauritius and also oversees the issue of residence and work permits.
Mauritius International Benchmarks
Mauritius is recognised on the world stage by international organisations and regulatory bodies as a jurisdiction which offers and strives for continuous improvements in its “ease of doing business” regime. Based on numerous internationally recognised classifications as per the table below, Mauritius is regarded as a leading jurisdiction for channelling investments across the globe.
|Index||Global Rank||Africa Rank|
|Work Bank Doing Business 2017||49 out of 190 countries||1st|
|Global Competitive Index 2016-2017||45 out of 138 countries||1st|
|Corruption Perceptions Index 2015 (Transparency International)||50 out of 176 countries||3rd|
|International Property Rights Index 2016||34 out of 128 countries||3rd|
|Mo Ibrahim Index of African Governance 2016||
|Press Freedom Index 2016 (Reporters without Borders)||61 out of 180 countries||8th|
|The A.T. Kearney Global Services Location Index 2016||30 out 50 countries||3rd|
|2017 Index of Economic Freedom (Heritage Foundation)||21 out of 180 countries||1st|
|Economic Freedom of the World 2016||5 out of 159 countries||1st|
|Human Development Index 2016||64 out of 188 countries||2nd|
|Democracy Index 2016 – Economist Intelligence Unit (Full Democracy)||18 out of 167 countries||1st|
|Knowledge Economy Index 2012||62 out of 145 countries||1st|
|Global Enabling Trade Report 2016||39 out of 136 countries||1st|
|Environmental Performance Index 2016||77 out of 180 countries||1st|
|Mercer’s 2016 Quality of Living Survey||83 out of 230 countries||1st|
|E-government development Index 2016||58 out of 193 countries||1st|
|Global Information Technology Report 2016||49 out of 139 countries||1st|
|Forbes Survey of Best Countries for Business 2017||39 out of 139 countries||1st|
|The Travel and Tourism Competitiveness 2017||55 out of 136 countries||2nd|
|Social Progress Index 2016||40 out of 133 countries||1st|
Source: The Board of Investment of Mauritius.
The banking industry in Mauritius is comprised of twenty-three (23) commercial and investment banks and is characterised by a diverse range of services provided by each individual bank. The Bank of Mauritius is the regulatory supervisory body for all commercial and investment banks in Mauritius which are listed below:
- AfrAsia Bank Limited;
- Barclays Bank Mauritius Limited;
- SBM Bank (Mauritius) Ltd;
- The Mauritius Commercial Bank Ltd;
- Bank One Limited;
- HSBC Bank (Mauritius) Ltd;
- Standard Chartered Bank (Mauritius) Limited;
- Investec Bank (Mauritius) Limited;
- Standard Bank (Mauritius) Limited;
- SBI Bank (Mauritius) Ltd;
- MauBank Ltd;
- The Hongkong and Shanghai Banking Corporation Limited;
- Banque des Mascareignes Ltée;
- Deutsche Bank (Mauritius) ltd;
- Bank of Baroda Limited;
- ABC Banking Corporation Limited;
- Warwyck Bank Limited;
- BanyanTree Bank Limited;
- Habib Bank Limited;
- Bank of China (Mauritius) Limited;
- PT Bank Maybank Indonesia;
- Century Banking Corporation; and
- Banque Privée de Fleurie Limited.
Source: The Bank of Mauritius.
Disclaimer: AAMIL partners with the above-mentioned banks (the “Bank(s)”) with regard to the bank account opening applications procedures of its various clients and their incorporated entities. AAMIL is neither a subsidiary, branch nor affiliate of any Banks. Each Bank has its own on-boarding and client acceptance procedures and criteria which AAMIL does not influence nor control.