News & Events
Foreign nationals wishing to work, live or retire in Mauritius may explore various avenues either through the Occupation Permit, the Residence Permit or the Permanent Residence Permit.
1. Occupation/residence Permit
The Occupation Permit (OP), which is a combined work and residence permit, allows non-citizens to reside and work in Mauritius. Non-citizens, above the age of 50 years, may also choose to retire in Mauritius under a Residence Permit (RP...
Acquisition of property in Mauritius - The Property Development Scheme and The Smart City Scheme
Mauritius has recently restructured the property laws in Mauritius paving the way for the introduction of a Smart City Scheme (SCS) and a Property Development Scheme (PDS).The SCS and PDS aims at consolidating the Mauritian International Business and Financial Hub by creating ideal conditions for no...Read more
Mauritius, Mozambique and Seychelles Partner to Boost Trade and Regional Integration
The World Bank Board of Executive Directors approved on 7 April 2016, a total of USD29.9 million for Mauritius, Mozambique and Seychelles to support their efforts to collaborate and create regional reforms that will improve the trading environment within Africa.
Mark Lundell, World Bank Coun...
The Africa – Asia Air Corridor: Mauritius as a gateway to Asia and Africa through Singapore Changi Airport
The Africa-Asia Air Corridor was launched by the Deputy Prime Minister, Minister of Tourism and External Communications of Mauritius, Hon. Xavier Luc Duval, in Singapore on 15 March 2016. The objective of this initiative is to connect Africa and Asia through the airports of Mauritius and Singapore.T...Read more
Global Business Companies - greater flexibility to conduct business
Sections 4 and 5 of Chapter 4 of the Guide to Global Business issued by the Financial Services Commission (“FSC”) have been amended to provide guidance with respect to the conduct of business in Mauritius by a holder ofa Category 1 Global Business Licence (“GBL1”).
Further to the amendments...
A category 1 Global Business licence Company may now acquire property under the IRS/RES Scheme
Recent changes to legislation now allow a qualified global business as defined under the Financial Services Act 2007 holding a Global Business Licence to acquire property under the IRS/RES scheme.
The following persons may acquire a residential property from an IRS/RES Company:
Foreign Account Tax Compliance: Mauritius and USA Sign Agreement
Mauritius and the United States of America signed a Tax Information Exchange Agreement (TIEA) and an Inter-governmental Agreement (IGA), on 27 December 2013 for the implementation of the Foreign Account Tax Compliance Act (FATCA) between the two countries.
The objective of the FATCA, enact...
Amendments brought by the Finance (Miscellaneous Provisions) Act 2013 to the Income Tax Act 1995
The Income Tax Act 1995 was amended by the Finance (Miscellaneous Provisions) Act 2013. The Finance (Miscellaneous Provisions) Act 2013 provides for the implementation of measures announced in the Budget Speech 2014 relating to taxation and national finance and the main amendments relating to Income...Read more
Mauritius ranked 1st African country for business in Forbes Best Countries for Business 2013
Mauritius is ranked first in Africa and 29th position worldwide according to the Forbes eighth annual survey of the Best Countries for Business 2013 released in December 2013.
Mauritius is the only African country among the top 40 economies worldwide according to the report and is followed ...
Financial Services (Administrative penalties) Rules 2013 issued by Financial Services Commission
The Financial Services Commission (the “FSC”) has issued the Financial Services (Administrative Penalties) Rules 2013 (the “Rules”) which shall come into operation on 01 January 2014.
As per the Rules, wherea licenseefails to comply with such legal obligations as specified in these Rules...