The Republic of Mauritius has developed into an international financial services centre of high repute. It offers multiple advantages to non-resident investors due, among other things, to its strategic position, good economic and political background and dual legal system of Common law and Civil law. It was one of the first six countries to undertake to adhere to the FATF recommendations against money laundering and terrorist financing and benefits today from thirty three double taxation avoidance treaties (DTA).

AAMIL is one of the principal service providers in the Mauritius financial services sector. It has established its offices in Port Louis, with more than 30 employees. It offers a complete range of financial products and services through four specialised service providers which are duly authorised and regulated by the Mauritius Financial Services Commission (FSC). It has offices in Switzerland, London, Seychelles and also maintains a presence in Luxembourg and in India.

The Global Business Sector

AAMIL sets up Global Business entities, either with a licence Category 1 (GBL1) or 2 (GBL2), for any non-resident wishing to do business outside the Mauritian territory. A GBL1 can be a private or a public company, a Civil law société, a trust, a partnership or any body of persons governed by the laws of Mauritius and whose form shall be accepted by the FSC.

A GBL1 is entitled to undertake any activities such as those of insurance, fund administration any other financial or non-financial activity as may be authorised by the FSC. A GBL1 benefits from the network of DTA and is taxed at a rate of 15%. However, due to deductions allowed under the law, the effective tax rate varies between 0% and 3%. There is no tax on capital gains, or any withholding tax on dividends and interests paid to non-residents.

A GBL2 is a private company which is not subject to any tax. The type of activities authorised for a GBL2 are very wide, but those of banking, funds administration, trustee by way of business and all those activities which might otherwise be detrimental to the reputation of Mauritius as an international financial services centre are excluded. The setting up of a GBL2 is easy and its administration is simple. In many respects, a GBL2 is equivalent to the International Business Company (IBC) that AAMIL also sets up in the Republic of Seychelles for its clients.

AAMIL also consitutes trusts, private trust companies, collective investment schemes and protected cell companies in Mauritius.

Discretionary Portfolio Management

AAMIL provides discretionary portfolio management services for local persons and non-residents on the Mauritian securities market and also on international markets. Its clients are both institutional and private. Investment on the Stock Exchange of Mauritius offers attractive returns and dividends and capital gains are not subject to tax in Mauritius, while bank interests are.

AAMIL also offers Sharia-compliant placements with good returns. These are open to all investors, especially those mindful of making "ethical" placements. AAMIL provides tailor-made investment solutions for its clients with the best returns, while mitigating the risks and it guarantees client confidentiality.

Owning Real Estate and Becoming Permanent Resident in Mauritius: A Dream Come True…

AAMIL offers the visitors of Mauritius the possibility of exchanging their tourists’ status against that of permanent residents and real estate owners through the Integrated Resort Scheme (IRS). The IRS allows them to acquire luxury villas of international standing with five star infrastructures and amenities such as golf courses in exotic landscapes (designed by the biggest names - Ernie Els or Rodney Wright), club house, beach house, helipads, shops, marinas, individual swimming pools, gastronomic restaurants, hotels, sports complex and spa, to name but a few.

A minimum initial investment of USD 500,000 is required for the purchase of an immovable property under the IRS. A residence permit will be granted to the purchaser and to his spouse and dependants under the age of 18. This permit will be valid as long as the non-resident holds the immovable property, either directly or through a domestic company or a foreign company registered in Mauritius. The owner will also have the possibility of renting his property during his absence, professionally managed rental services being available under certain schemes.

A new scheme, the Real Estate Development Scheme announced in this year’s budget will soon offer the possibility to non-residents to own immoveable property of less than USD 500,000 in Mauritius. This scheme does not however allow the owner to become permanent resident, but he will be able to acquire such status under other available schemes.

Enacted since October 2006, the "Business Facilitation Act" allows Mauritian non-residents, who may be investors, retired persons or self-employed to obtain a first residence permit in Mauritius for a period of three years, renewable afterwards into a permanent resident permit for successive 10-year periods. As from the date of the permanent resident permit, the non-resident will be entitled to acquire immovable property anywhere on the island.

Head Office

European Office

Suites 340-345 Barkly Wharf
Le Caudan Waterfront
P.O. Box 1070, Port Louis
Republic of Mauritius

8, Place du Bourg de Four
P.O. Box 3627
CH-1211 Geneva 3
Switzerland

Tel. (230) 210 1000
Fax. (230) 210 2000

Tel.: (41) (22) 818 61 00
Fax: (41) (22) 818 61 01

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.