Mauritius has many benefits that make it an attractive destination for a family office set-up. These benefits include its political and economic stability, low taxes, and a variety of double taxation avoidance agreements. Mauritius is also a gateway to Africa, offering access to a continent with vast growth potential.
If you are thinking of setting up a family office, Mauritius should be at the top of your list. This article will explain the many benefits of setting up a family office in Mauritius.
Stability:
Mauritius is politically stable with no threat of civil war or revolution. The country has been independent since 1968 and is considered one of the most stable democracies in Africa. The government is democratic and pluralistic with an independent judiciary branch that provides checks and balances on the executive branch of government.
Tax Incentives:
Mauritius has an attractive tax regime that enables you to take advantage of double taxation agreements (DTAs). This means you can benefit from lower taxes on your income and capital gains. There are no wealth taxes in Mauritius either. In addition, there are no inheritance taxes or estate duties on assets transferred between generations.
A Gateway to Africa:
Mauritius is an ideal gateway to Africa, which has seen rapid economic growth over the last decade. Africa is home to many emerging economies that offer significant investment opportunities for investors who want to diversify their portfolios globally. Mauritius is well connected with the rest of the world through its international airport and shipping lines serving both Asia and Europe.
Well-Developed Infrastructure:
Mauritius has an excellent infrastructure and a skilled workforce, which makes it an attractive destination for a trust set-up in Mauritius. Mauritius’ telecommunications network is among the best in Africa and includes extensive fibre optic cable networks that connect all major cities in the country including Port Louis, Curepipe and Quatre Bornes.
Skilled Workforce:
Mauritius has an extremely skilled workforce that is trained in many professions including accountancy, banking, law, engineering and more. In addition, there is also a large pool of expatriates from different countries who have come to work in Mauritius due to its economic stability and business-friendly environment. This means that there are plenty of professionals available for hire if you need assistance with setting up your family office in Mauritius.
Conclusion:
Setting up a family office in Mauritius can be a very lucrative decision. It is the only country in the world that has won the competitive World Tax and Wealth Register Award for the most conducive jurisdiction for overall wealth and asset management. The capital city, Port Louis is home to many financial institutions including banks and trust companies.
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