Mauritius, best known for its exquisite white beaches, sugar production, has grown into one of the most sophisticated economies and best investment opportunity destinations in Africa.
There are key factors that make a country an attractive investment environment, this includes a favorable tax system, well-developed banking system, low inflation, and a good location. That’s just the case of this beautiful island country, Mauritius.
According to the 2019 World Bank Report, Mauritius ranks 13th out of 198 countries in the world for ease of doing business. The World Bank clearly states that the country offers a transparent, competitive, and attractive environment for businesses to thrive. In fact, the Island of Mauritius is ranked number one in Africa for its pro-business policies.
From being a holiday hot spot to an investment hub in Africa, Mauritius is now the highest-ranked economy in sub-Saharan Africa on the World Bank’s Ease of Doing Business Index.
Also, Mauritius has been likened to Singapore, the leading real estate and business hub in Asia by the financial times. Since being likened to Singapore, this has placed Mauritius in extremely high regard by investors.
With all this fact, there is no doubt that Mauritius is a potential goldmine for foreign investors and businesses due to its economic and global business competitiveness.
Let’s take a look at how this little island nation went from being a holiday spot to investment mecca in just more than a decade?
Ease of Doing Business
Through the years, the Mauritian Government have created a unique and friendly business environment to attract local investors and foreigners.
Having a pro-business environment, Mauritius makes it easy for you to open a business account plus numerous tax benefits make Mauritius a haven for individuals who want to start a business in Mauritius.
Mauritian tax planning advantages include no capital gains tax; no inheritance, wealth or gift tax; a standard 15% individual tax rate; and no exchange control. Corporate tax is set at a rate of 15% or lower, a CSR tax of 2%, a land transfer tax of 5%, and no taxation on capital gains and dividends. The country also boasts a strong tax treaty network.
This makes it easy to operate any entity without hefty taxation and fines for not paying or filing returns on the same.
When the location is just right, in terms of proximity to major international markets, the stars really fall into alignment. And that’s exactly the case for Mauritius.
Mauritius proximity to South Africa gives the country an obvious advantage, as South Africa remains the continent’s foremost business hub. Mauritius is also perfectly positioned en route from Asia and the Middle East to the tip of Africa, making it ideal for expansion into Africa, and also from Africa into the rest of the world.
Global brands such as Samsung, Broll, NBA and Expedia have already set up offices in Mauritius, recognising it as both an ideal location and efficient business environment.
One company that has long been tracking the potential of this island paradise is The Business Exchange (TBE), a respected South African serviced office space provider. Just recently TBE launched a unique investment opportunity for South Africans looking to secure their slice of the island pie.
Starting at US $36 500 (about R530 000), investors can purchase sectional title serviced office space, managed by TBE, in Mauritius. “With this offering, TBE is targeting investors seeking to purchase property in a unique, high-growth asset class. Furthermore, it offers a hedge against the Rand in a location set to see stable and predictable growth and expansion in the near future,” says David Seinker, founder and CEO of TBE.
The New World Wealth rated Mauritius as the safest country in Africa, as well as the wealthiest country on the continent on a per-capita basis.
Mauritius is a fiscally and economically sound environment, with modern infrastructure and a sophisticated banking system.
Also Read: Agribusiness Opportunities In Africa
Best Investment Opportunity in Mauritius
Here are some of the lucrative sectors you should consider when planning on starting a business in Mauritius.
- Financial services, including accounting, auditing, and financial consultation
- Hospitality and property development
- Healthcare and medical travel
- Distribution and logistics services
- Information technology
- Aquaculture and Seafood processing
- Renewable energies and the environment