Introduction

Since the establishment of the first commercial bank in September 1838, Mauritius has progressed rapidly to become a respected International Financial Centre (IFC), with financial intermediation accounting for 12% of GDP.

The Mauritian IFC has gained international recognition as a safe and trusted jurisdiction by the OECD, FATF, IOSCO, IAIS and IFSB amongst others.

The country is ranked 17th globally and 1st in Africa in the 2010 World Bank Doing Business Report. The IMF & the World Bank favourably assessed the Financial Sector of Mauritius under the Financial Sector Assessment Programme. An innovative regulatory regime prevails, with the Bank of Mauritius regulating all banking activities and the Financial Services Commission (FSC) overseeing all other financial services activities.

Mauritius benefits from a growing network of Double Taxation Avoidance Treaties and Investment Promotion and Protection Agreements with developed and emerging countries. There is a flat and harmonised corporate and income tax rate of 15%, with the possibility for companies to avail themselves of certain foreign tax credit provisions.

Mauritius has positioned itself as a trusted and secure International Services Centre for investment flows from major economic powers into the emerging markets of Asia and Africa and vice versa. It also offers international businesses a high quality financial environment with sophisticated products.