Internationally acclaimed as a premier destination for honeymooners and luxury travel enthusiasts, Mauritius is far more than simply a tropical paradise. Over the years, the island nation, with its idyllic landscapes and dynamic economy, has mastered the art of blending its rich cultural heritage with cutting-edge economic policies.
Such an amalgamation has fostered an environment where business thrives in synergy with sustainable development goals. As a nexus of global business activity, Mauritius has consistently demonstrated an unparalleled openness to innovation and economic diversification, and stands out as a beacon of progress and prosperity.
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International Business and Economic Growth
Over the centuries, Mauritius has evolved from a centuries-old trading post into a 21st-century hub of commerce and one of the wealthiest countries in Africa. It is known as a popular destination for global businesses, as revealed by its high ranking in the World Bank Doing Business Survey.
Due to Mauritius’ open approach to doing business and the country’s business-friendly rules, political stability, good governance, and sturdy banking system, key investors are drawn to it. Furthermore, due to the lack of foreign exchange controls and investment protection treaties, Mauritius’ flow of foreign direct investment has increased by 50% to $623 million in 2022 compared to the preceding year.
Furthermore, Mauritius is building on this reputation by embracing regulations for cryptocurrencies and blockchain technology, which will play host to a pilot central bank digital currency.
Tax incentives and financial advantages
Mauritius is renowned for its attractive tax benefits, such as zero capital gains and inheritance taxes, as well as 100% foreign shareholding, among other exemptions from taxes. The country is rated as the sub-Saharan African nation most friendly to businesses in the Index of Economic Freedom. These advantages, along with double taxation agreements with several countries, make it an appealing destination for business and investment.
Expat living and relocation benefits
More than 30,000 expatriates call the nation home, no longer captive to the lure of ease in working, living, and investing in Mauritius. The country offers a selection of favourable residency conditions for high-net-worth individuals and families, including those over 50 who retire at a variety of savings prices.
The country’s housing industry offers its ongoing boom; among real estate projects eligible for residency conditions, they begin at $375,000 to your advantage, with no capital gains tax and no inheritance tax.
Cultural Diversity and Lifestyle
Famed as much for its economic benefits as its enviable way of life, Mauritius enjoys an intoxicating mix of European, African, and Caribbean influences, impressive educational facilities and health services, and a standard of living that is significantly lower than the UK.
The island also enjoys superb connectivity, making it a major draw for the financial services and business communities while delivering ripe pickings for those looking to invest in property.
Investment in Emerging Industries
Mauritius, the nation with the privately richest people per capita in Africa and an impressive 8.5% GDP growth rate last year – the fastest in 35 years – is booming in a range of sectors and looks likely to continue to grow. The country is committed to expanding its economy, which means there are plenty of investment opportunities.
Mauritius is particularly keen to encourage investment in the following new industries: information and communications technology (ICT); biotechnology; manufacturing; renewables; aquaculture; maritime; and energy exploration. This diversified economic expansion underlines Mauritius’s inventive approach to development and its ability to do development right.
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