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      flag Mauritius Mauritius: Investing

      FDI in Figures

      Mauritius is the 4th largest destination for FDI in the Small Island Developing States (SIDS), after Jamaica, the Bahamas and the Maldives, and at the same level as Fiji. According to UNCTAD's World Investment Report 2020, FDI flows to Mauritius reached USD 472 million in 2019, up from USD 372 of the previous year. The total stock of FDI stood at USD 5.8 billion in 2019. The main investors are the United States, India, United Kingdom, the Cayman Islands and Hong Kong. China, after having invested heavily in 2016, divided by two its flows to Mauritius. A large portion of this inflow is then diverted to India (21.8% of inward FDI flows to India come from Mauritius) as both countries have signed an agreement to avoid double taxation. The tourism sector attracts most of FDI, particularly the Integrated Resort Scheme, which deals with the construction of luxury villas, golf courses and other amenities in the resort areas. Other sectors that attract most FDIs are financial and insurance services and construction. According to data published by the Bank of Mauritius, during the first three quarters of 2020 inward FDI amounted to MUR 9 million, compared to MUR 14.9 million one year earlier (-39%), as a consequence of the global crisis induced by the COVID-19 pandemic. The real estate sector accounted for nearly 73% of the total inflows over the period under review, followed by manufacturing (17.8%) and transportation and storage. Around 70% of the gross inflows came from the Euro area (mostly France, at 37.2%).

      Mauritius aims to become an investment hub located midway between Africa and Asia. In recent years, the country's economic diplomacy has sought to create and strengthen partnerships with emerging countries (India, Turkey, etc.), while also offering technical assistance to several African countries. Agreements with Ghana, Senegal and Madagascar have been approved in order to create special economic zones (SEZ) in those countries and open niche markets for Mauritian exports. Only a few sectors are subject to restrictions, including television broadcasting (49.9% foreign ownership limit), sugar production (15%), newspaper or magazine publishing (20%); whereas in the tourism sector limitations are related to a minimum investment amount, the number of rooms, or the maximum equity participation (visit the Tourism Authority website for further information). In addition to the Government's incentives for investments (special economic zones, tax incentives, payment facilities, etc.), the country offers investors a stable economic and political environment, a solid judicial system, modern infrastructure, a stable financial system and a highly skilled and dynamic workforce. Corruption in the country is low by regional standards. According to the 2020 Doing Business ranking issued by the World Bank, Mauritius is the 13th most favourable country in terms of business environment out of 190 countries in the world (gaining seven positions compared to the previous year). The Heritage Foundation classifies Mauritius 13th worldwide in its 2021 Index of Economic Freedom ranking.

       

      Country Comparison For the Protection of Investors

        Mauritius Sub-Saharan Africa United States Germany
      Index of Transaction Transparency* 7.0 5.0 7.4 5.0
      Index of Manager’s Responsibility** 8.0 4.0 8.6 5.0
      Index of Shareholders’ Power*** 9.0 5.0 9.0 5.0

      Source: Doing Business - Latest available data.

      Note: *The Greater the Index, the More Transparent the Conditions of Transactions. **The Greater the Index, the More the Manager is Personally Responsible. *** The Greater the Index, the Easier it Will Be For Shareholders to Take Legal Action. **** The Greater the Index, the Higher the Level of Investor Protection.

       
      Foreign Direct Investment 201720182019
      FDI Inward Flow (million USD) 480372472
      FDI Stock (million USD) 5,221.65,292.95,765.2
      Number of Greenfield Investments* 4.06.010.0
      Value of Greenfield Investments (million USD) 25230286

      Source: UNCTAD - Latest available data

      Note: * Greenfield Investments are a form of Foreign Direct Investment where a parent company starts a new venture in a foreign country by constructing new operational facilities from the ground up.

       

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      Tax Rates

      Value-added tax (VAT)
      15% (standard rate)
      Company Tax
      15%
      Withholding Taxes
      Dividends: 0%; Interests: 15%; Royalties: 10% (residents)/15% (non-residents)
      Social Security Contributions Paid By Employers
      National Pensions Fund (NPF): 6% (salary cap at MUR 16,995 per month)
      National Savings Fund (NSF): 2.5% (capped at MUR 425 per month) + 1.5% monthly levy
      Other Domestic Resources
      Mauritius Revenue Authority
      Overview of the Mauritius' tax measures in response to Covid-19
      Consult Doing Business Website, to obtain a summary of the taxes and mandatory contributions.
       
       

      Individual Taxes

      Personal income tax Progressive rates from 10% to 15%
      Up to MUR 700,000 10%
      Above MUR 700,000 15%
       
       

      Country Comparison For Corporate Taxation

        Mauritius Sub-Saharan Africa United States Germany
      Number of Payments of Taxes per Year 8.0 38.8 10.6 9.0
      Time Taken For Administrative Formalities (Hours) 152.0 304.2 175.0 218.0
      Total Share of Taxes (% of Profit) 22.1 47.0 43.8 49.0

      Source: Doing Business - Latest available data.

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      Investment Opportunities

      Tenders, Projects and Public Procurement
      Tenders Info, Tenders in Mauritius
      DgMarket, Tenders Worldwide
      Setting Up a Company
      Consult Doing Business Website, to know about procedures to start a Business in Mauritius.
      Useful Resources
      Economic Development Board (EDB)
      Mauritius Trade Portal
      Mauritius Trade Portal
       

      Business Setup Procedures

      Setting Up a Company Mauritius Sub-Saharan Africa
      Procedures (number) 4.00 7.80
      Time (days) 5.00 27.30

      Source: Doing Business.

       
       
       

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      Latest Update: May 2021

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