Mauritius : An International Finance Centre
‘Situated in the ‘golden triangle’ connecting Asia, Africa and Australia, Mauritius is the converging point of global civilizations – a place where one can feel the cosmopolitan pulse of the world :-
- Impressive track record, political stability and more than 3 decades of sustained economic growth
- Secure investment location with established rule of law
- Freest and most business-friendly country in Africa
- Peaceful, multiethnic with a unique lifestyle in a blend of cultures
- Flexible, bilingual (English/French) and skilled workforce
- Investment-friendly regulatory regime
- Open to foreign investors and talents
- Ocean State with one of the largest Exclusive Economic Zones in the world
- Preferential market access to Africa, Europe and the USA
- State-of-the-art infrastructure
- Convenient time zone (GMT +4)
Over the past decade, Mauritius has developed an international financial center hosting the world’s largest banks: HSBC, Barclays Bank, Deutsche Bank, Standard Chartered Bank and many other financial institutions. This rapid expansion of the financial sector is not only explained by the attractive tax regime, but also by the implementation of regulations compliant with the international norms. In fact, Mauritius is one of the only countries to be regulated by both French and English laws. Cooperation with many European countries has enabled Mauritius to set up over 33 double taxation treaties.
Mauritius is recognised by international organisations for continuous improvement in its ‘doing business’ regime. The country is today acclaimed as a leading investment destination.
|No||Index||Global Rank||Africa Rank|
|1||World Bank Doing Business 2016||32 out of 189 countries||1st|
|2||Global Competitiveness Index 2015-2016||46 out of 140 countries||1st|
|3||Corruption Perceptions Index 2015 (Transparency International)||45 out of 168 countries||5th|
|4||International Property Rights Index 2014||31 of 97 countries||2nd|
|5||Mo Ibrahim Index of African Governance 2015||–||1st|
|6||Press Freedom Index 2014 (Reporters without Borders)||70 out of 180 countries||11th|
|7||The A.T. Kearney Global Services Location Index, 2016||30 out of 55 countries||3rd|
|8||2016 Index of Economic Freedom
|15 out of 178 countries||1st|
|9||Economic Freedom of the World 2015
|6 out of 157 countries||1st|
|10||Human Development Index 2015||63 out 188 countries||1st|
|11||The Economist Intelligence Unit’s Democracy Index 2015||18 out of 167 countries||1st|
|12||Knowledge Economy Index 2012-World Bank||62 out of 145 countries||1st|
|13||Global Enabling Trade Report 2014 – World Economic Forum||29 out of 138 countries||1st|
|14||Environmental Performance Index 2014||56 out 178 countries||1st|
Over the years, Mauritius has built its reputation as a safe, trusted and secure jurisdiction and it is today recognised by international institutions like the OECD, IAIS, IOSCO, FATF and the IFSB as probably the most developed nation in Africa. Financial Services remain at the core as one of the most important contributors to the Mauritian economy, representing over 13% of GDP and directly employing over 15,000 highly skilled professionals. The financial sector comprises major local and international players in banking, insurance, capital markets, fund administration and management, international legal services and investment advisory amongst others. The Bank of Mauritius is the regulator for banking transactions and the Financial Services Commission is the regulator for non-banking transactions.
Over the years both these regulators have been prudent in adopting best international practice in order to prevent misuse of the jurisdiction and have introduced the necessary safeguards to protect the economy. The availability of the requisite legal and regulatory structure coupled with local expertise, an attractive fiscal regime and a vast network of Double Taxation Treaties have made the island an attractive and business friendly jurisdiction for investment purposes. To sustain its development as an International Financial Centre of substance, Mauritius some years ago embarked on a strategy of enhancing its range of financial products and moving towards the provision of providing higher end and value added services.
- GDP per capita: approx. USD 9,200 (2015 est.)
- Moody’s Investors Service: BAA1 (2015)
- Population: approx. 1.3 million
- Political System: Democracy with Elections every 5 years, since independence
- Official Language: English
- Legal System: dual system (Common & Civil Law)
- GDP Growth: 3.1% (2015 rev)
- Unemployment: 8% (2015 est)
- Inflation: 1.3% (2015 est)
The financial sector of Mauritius is today recognized by major global financial institutions: the Organization for Economic Cooperation and Development (OECD), International Association of Insurance Supervisors (IAIS), and “International Financial Services Board (IFSB) and represents almost 15% of the gross domestic product. Moreover, Mauritius has signed nearly 36 investment protection agreements with European and African countries (France, South Africa, Madagascar ..) and has its own stock exchange, the SEMDEX (Stock Exchange of Mauritius – Development & Enterprise Market), which lists over 80 listings with a total capitalization over $ 7 billion.
The foregoing in addition to its strategic location, its economic stability and its commitments in terms of regulation and investment protection, mean Mauritius is the ideal gateway to invest into global markets.
Source : http://www.investmauritius.com