About Mauritius

Mauritius is an island covering 1,865 square kilometres and is situated some 2,000 kilometres off the south east coast of Africa. More than 150 kilometres of white sandy beaches and transparent lagoons are protected from the open sea by the world's third largest coral reef which almost surrounds the island. Being of volcanic origin, Mauritius has a central plateau which is about 400 metres above sea level. Mountains scattered throughout the island, fast flowing rivers, tropical forests and plants are other features that add to the natural beauty of the island.

History and Government
Discovered by the Portuguese in 1505, the island was occupied successively by the Dutch in 1598, the French in 1715, and the British in 1810 until its independence in 1968. On 12 March 1992 Mauritius became a Republic but remains a member of the British Commonwealth.

Legal System
The legal system of the Republic of Mauritius derives from both French and English sources. During the French rule (1715 until 1810) the Island's system was governed by the French Napoleonic Code which remained in force under the British rule with subsequent amendments in civil and criminal procedural laws and company law. Mauritius, therefore, enjoys a hybrid legal system combining both the civil and common law practices. Though being a Republic, Mauritius still remains a member of the Commonwealth and the right of appeal to the Privy Council is preserved.

Global Business Center
Mauritius is an established international business centre, which offers a variety of structures and vehicles suitable for fiscally efficient trade and investment activities. These include:

• Global Business Licence Companies (GBL 1 & 2)
• Limited Life Companies (that can be dissolved on specified events)
• trusts
• collective investment schemes
• a range of double tax treaties

The Mauritius Stock Exchange was admitted to the World Federation of Exchanges in November 2005. Historically Mauritius has been a favored route for investments into India, with capital gains benefits to be derived from the India-Mauritius Double Tax Agreement.

Legislative changes since 2001 have chartered a new landscape for the financial services sector, including the Global Business Sector. The Companies Act 2001 (inter alia) repealed the International Companies Act and the Financial Services Development Act, 2001 repealed the Mauritius Offshore Business Activities Act with effect from 1st December 2001 and introduced the concept of "Qualified Global Business". The FSD Act 2001 has since been replaced by the Financial Services Act 2007.

Over the past years Mauritius has focused its global business on specific areas such as investment funds, investment holding and international trading. Mauritius is enjoying international exposure as a domicile for emerging market funds and is being considered as a gateway for investments in the Indian Ocean region and South East Asia.

Any individual, body corporate, trust or partnership including a limited partnership or a société may apply for a Global Business Licence.

Portcullis TrustNet (Mauritius) Ltd is well positioned to assist clients wishing to avail themselves of the advantages and benefits of Mauritius.