By TINTSWALO BALOYI
JOHANNESBURG, (CAJ News) – MAURITIUS is proving to be one of the most effective countries for multinationals seeking to access Africa’s rapidly growing urban and middle income population.
Graham Sheward, Managing Director of Cim Global Business, points out to a study conducted by the Mauritius Financial Services Commission (FSC).
It shows 58 percent of investments made by global business companies registered in Mauritius was destined for Africa.
“This means the experience that Mauritius has gained from supporting investment into India over the last 25 years is now being focused on – and replicated for Africa,” says, the leading fund administrator in Mauritius.
Minister of Finance and Economic Development, Pravind Kumar Jugnauth, in his budgetary announcement of further measures to promote the global business sector and encourage multinational companies and fund/asset managers to set up their operations in the country positioned Mauritius as an established jurisdiction from which to access Africa.
Businesses that register for a Global Headquarters Administration licence and establish their regional administration, procurement and accounting offices in Mauritius, will benefit from an eight-year tax holiday subject to satisfying certain substance and employment conditions.
Mauritius recent issue of a Global Legal Advisory Services licence allows international law firms which establish their regional offices and operations in Mauritius to benefit from a five-year tax holiday.
Also, Mauritius has introduced the legislative and regulatory framework for setting up the limited liability partnership structures which are typically preferred by law firms.
According to the latest report issued by the New World Wealth Investment Review, Mauritius has the fastest-growing wealth market on the continent with 3 200 millionaires.
Cim Global Business is one of the leading fund administrators and corporate service providers in Mauritius with offices in Mauritius, Singapore and South Africa.
– CAJ News