Mauritius Film Development Corporation

Mauritius Film Rebate Scheme

To stimulate the interest of film makers and encourage the setting up of a film industry in Mauritius, the Government of Mauritius has developed a comprehensive film support framework for the film industry.

As per the scheme, Government will contribute 30 per cent of the Qualified Production Expenditures (QPEs) incurred in Mauritius by a film producer with respect to the shooting of a film. The QPEs will include transport, accommodation, manpower, catering and the hiring of equipment and premises in Mauritius The QPEs will, however, be exclusive of sponsorship

The scheme is being administered by the Board of Investment (BOI)

For eligibility criteria, submission procedures and other relevant details, interested parties are requested to consult the Film Rebate Scheme guidelines on the BOI website www.investmauritius.com or to contact BOI either by email on www.filminmauritius.com  or please leave a reply

Company Registration benefits in Mauritius

Key benefits

Mauritius

Mauritius is a premier international business centre located in the Indian Ocean. Over the past 20 years Mauritius has enjoyed unprecedented growth and socio-economic development and has emerged as a politically stable democracy that welcomes foreign investors and businesses. Mauritius has become a credible jurisdiction for offshore company formation offering a reliability and security to investors through its flexible regulatory framework.

The Mauritian Government actively encourages foreign investment and offshore activity through the Board of Investment. The government introduced wide ranging incentives to attract foreign investment and consolidation of the legal and fiscal framework has resulted in modern, user-friendly legislation that has contributed to the rise of Mauritius as a major offshore financial service centre. The government’s development strategy centres on foreign investment and due to this Mauritius has attracted thousands of offshore entities.

The credibility of Mauritius for offshore investments has been solidified by adherence to the new international requirements involving combating financial terrorism and money laundering. This has facilitated Mauritius to enjoy a reputation as a trustworthy, well regulated offshore centre with guaranteed confidentiality.

Key Benefits for registering a company in Mauritius

Forming a company in Mauritius is a simple, straightforward process regardless of whether you choose a GBC1 Company (a Resident Company) or a GBC2 (an Offshore Company). If correctly structured a Mauritius Company is an efficient, low-cost, legally tax efficient entity in which to conduct business. There are a number of benefits attached to incorporating a GBC1 and GBC2 company in Mauritius.

GBC 1 Companies features & benefits:

GCB1 Companies are treated as tax resident and are liable to pay taxes on their earnings however because of this they are also entitled to the benefits of the extensive Mauritius Double Tax Treaties. A GBC1 may be a locally incorporated company or may be a branch of a foreign company. Business must be conducted in a foreign currency and cannot engage in business in Mauritius.

  • Requires a minimum of one Director who must be a natural person (Eltoma can provide nominee Directors).
  • A minimum of one Shareholder is required who can be of any nationality and need not be resident in Mauritius. Corporate Shareholders are permitted.
  • A resident Company Secretary is required (Eltoma can provide this).
  • Business can be conducted internationally.
  • GBC1 Companies are regarded as being resident therefore are able to take advantage of the Mauritius Double Tax Treaties. The tax treaty is particularly favourable with India and Mauritius has become a popular location for holding companies for those trading or investing in India.
  • GBC1 companies can utilize the unilateral foreign tax credit which stands at 80% of the Mauritian Tax Rate, which leaves a residual liability of 20% of the Mauritian rate which is equal to 3%. There are current discussions on possible further reductions on this rate.
  • No Capital Gains or withholding taxes levied.
  • No limit on the carrying forward of tax losses.
  • No Withholding Tax on dividends, interest, royalties and payment of redemption proceeds.
  • Entitled to underlying tax credits on dividends if shareholding in Investee Company is greater than 5%.
  • Interest received on deposits in Mauritian bank accounts are tax exempt.
  • Inheritance tax, gift and estate taxes are not applicable.
  • No stamp duties, registrar duties or levies.
  • A branch of a foreign company may also have access to the tax treaty network provided that the local authorities are satisfied that effective management and control of the foreign branch is in Mauritius.

GBC 2 Companies features & benefits:

GBC2 Companies are private entities that conduct business outside Mauritius, a GBC2 Company is not allowed to conduct business in Mauritius. A GBC2 may be a locally incorporated company or registered as a branch of a foreign company. Confidentiality is a major benefit to a GBC2 and the identity of the beneficial owner can remain largely confidential. A GBC2 is a good structure for holding and managing private assets.

  • High degree of privacy protection (through the use of nominee Directors and shareholders).
  • Mauritius company formation permits 100% foreign ownership meaning no local nominee is required.
  • Only one Director and one Shareholder required.
  • Legal tax exemption for GBC2 Companies but no access to the Mauritian Double Taxation Treaty allowed.
  • No accounting or reporting requirements which minimise maintenance costs.
  • GBC2 company enjoys limited liability without any paid up capital (there is no minimum capital required).
  • No Withholding Tax on dividends.
  • No Capital Gains Tax.
  • No Stamp Duty on transfer of shares.
  • Free repatriation of earnings.
  • Migration from a foreign company to/from Mauritius is permitted.
  • Shareholders and Directors can meet anywhere.
  • Registered office and agent in Mauritius is required.
  • Conversion to GBC1 is permitted.

TAX ADVISORY FROM VDP SPECIALIST

We proudly announce that recently JJ services has partnered with a law firm in South Africa.

The law firm is specialised in providing tax structuring advice as well as being an expert in Voluntary Disclosure Programme advice recently issued by SARS.

The CEO of the law firm has been advising his clients on more than 100 VDP. The advantage of availing of the services of our tax advisor is firstly our prices are very competitive and the CEO of the law firm very often in Mauritius and thus he is accessible for advice or a meeting.

Please let us know whether you would like to know further about these services.

CONTACT US:
imranjaffery@icloud.com
WhatApp/Viber +230-57382212

BUSINESS HELP

Focus on what you do best & We will do the accounting
At JJ Services we help clients generate, protect and enhance their finance. We are leading advisers to entrepreneurial and growing owner-managed businesses and the people behind them.
Some of our basic services are
Accounting
Taxation
Consultancy & advisory services to SME’s
Preparation of Business plan

Let our skilled team of experts provide you with superior accounting services and timely, relevant advice.

We offer a broad range of solutions that can be customized to the unique needs of an individual or business.

In essence, you leave the day-to-day accounting and tax worries to us so that you can focus on your business.

CONTACT US:
imranjaffery@icloud.com
WhatApp/Viber +230-57382212

RESIDENCE OR OCCUPATION PERMIT

JJ Accounting Services in Mauritius- is a firm of professional accountants and legal advisers with over 30 years’ experience and we would like to assist those who are considering to relocate to Mauritius for retirement or business purposes. We may assist on the following aspects:
Application of Residence Permit and Occupation Permit in Mauritius;
Tax Compliance Services in terms of VAT and Income Tax;
Accounting Services; and
Incorporation and Management of Domestic Companies.
We can assure you that you will receive the 5-star service offered by the leading firms at a much reduced price.

OCCUPATION PERMIT (WORK PERMIT)

The Occupation Permit allows the holder to work and live in Mauritius for up to three years, after which the permit may be renewed.

Applicant Categories:

For the Investor & Self-Employed categories, Samina can assist you with the setting up and establishment of your local company as well as all related administrative and legal procedures.

Investor

The proposed business activity should generate an annual turnover exceeding MUR 4 million. The initial investment must be USD 100,000 payable in a local bank account.

Professional

The applicant must be under a contract of employment with a basic monthly salary exceeding MUR 30,000.

Self-employed:

The annual income from the proposed business activity should exceed MUR 600,000 annually with an initial investment of USD 35,000 or its corresponding convertible foreign currency payable in a local bank account.

PERMANENT RESIDENCE PERMIT

The Permanent Residence Permit authorises a non-citizen to live and/or work in Mauritius. The permit is renewable after 10 years. A non-citizen who has been granted a permanent residence permit entitled purchase an apartment for his private residence. Samina is ready and pleased to assist you in achieving this purpose.

Applicant Categories:

Investor

Applicant must have held an Occupation Permit for 3 years prior to the date of application for the PRP. Applicant’s company’s turnover must have been more than MUR 15 million annually during each of the 3 years in respect of each shareholder of the business.

Professional

Applicant must have held an Occupation Permit for 3 years prior to the date of application for the PRP Applicant’s basic monthly salary must amount to at least MUR 150,000 during the entire 3 year period.

Self-employed:

A self-employed having held an Occupation Permit for 3 years immediately preceding the date of application for Permanent Residence Permit and whose income exceeded MUR 3 million annually.

Retired Non-Citizen:

A retired non-citizen having held a Residence Permit for 3 years and who has transferred to Mauritius USD 40,000 or its comparable currency annually during each of these 3 years.

RESIDENCE PERMIT FOR RETIRED NON-CITIZEN

The Residence Permit for Retired Non-Citizen enables a retired non-citizen to reside in Mauritius for 3 years after which the permit may be renewed.

Criteria for Eligibility:

To be eligible for a residence permit, the applicant should satisfy the following criteria: Be at least 50 years old; Make an initial transfer of at least USD 40,000, or the equivalent in convertible foreign currency when first settling in Mauritius. Transfer at least USD 40,000, or its equivalent in convertible foreign currency, per annum to his/her local bank account in Mauritius per annum

Terms & Conditions:

A holder of a residence permit for retired non-citizen and his dependents are not allowed to work in Mauritius. The permit holder is not allowed to remit to his country of origin or any country abroad the funds transferred into Mauritius or any balance thereof, except where the residence permit is cancelled. The individual should submit annually a statement from his local bank about the transfer of funds from abroad to his local account, along with a certificate to the effect that no money has been sent overseas from the account.

EXPATRIATE SERVICES

Over the past years, Mauritius has been attracting an increasing number of foreigners who have chosen to live, work or invest in the island.

Whether you are an investor, a working professional or a retiree our aim is to ensure a seamless relocation process. We will also assist you after your permit to the acquisition or rental of residential property, office premises and tax compliance services in Mauritius.

We are professional accountants and lawyers and are specialised in handling such processes for expatriates.

OCCUPATION PERMIT (WORK PERMIT)

The Occupation Permit allows the holder to work and live in Mauritius for up to three years, after which the permit may be renewed.

Applicant Categories:

For the Investor & Self-Employed categories, JurisTax can assist you with the setting up and establishment of your local company as well as all related administrative and legal procedures.

Investor

The proposed business activity should generate an annual turnover exceeding MUR 4 million. The initial investment must be USD 100,000 payable in a local bank account.

Professional

The applicant must be under a contract of employment with a basic monthly salary exceeding MUR 30,000.

Self-employed:

The annual income from the proposed business activity should exceed MUR 600,000 annually with an initial investment of USD 35,000 or its corresponding convertible foreign currency payable in a local bank account.

PERMANENT RESIDENCE PERMIT

The Permanent Residence Permit authorises a non-citizen to live and/or work in Mauritius. The permit is renewable after 10 years. A non-citizen who has been granted a permanent residence permit entitled purchase an apartment for his private residence. JurisTax is ready and pleased to assist you in achieving this purpose.

Applicant Categories:

Investor

Applicant must have held an Occupation Permit for 3 years prior to the date of application for the PRP. Applicant’s company’s turnover must have been more than MUR 15 million annually during each of the 3 years in respect of each shareholder of the business.

Professional

Applicant must have held an Occupation Permit for 3 years prior to the date of application for the PRP Applicant’s basic monthly salary must amount to at least MUR 150,000 during the entire 3 year period.

Self-employed:

A self-employed having held an Occupation Permit for 3 years immediately preceding the date of application for Permanent Residence Permit and whose income exceeded MUR 3 million annually.

Retired Non-Citizen:

A retired non-citizen having held a Residence Permit for 3 years and who has transferred to Mauritius USD 40,000 or its comparable currency annually during each of these 3 years.

RESIDENCE PERMIT FOR RETIRED NON-CITIZEN

The Residence Permit for Retired Non-Citizen enables a retired non-citizen to reside in Mauritius for 3 years after which the permit may be renewed.

Criteria for Eligibility:

To be eligible for a residence permit, the applicant should satisfy the following criteria: Be at least 50 years old; Make an initial transfer of at least USD 40,000, or the equivalent in convertible foreign currency when first settling in Mauritius. Transfer at least USD 40,000, or its equivalent in convertible foreign currency, per annum to his/her local bank account in Mauritius per annum

Terms & Conditions:

A holder of a residence permit for retired non-citizen and his dependents are not allowed to work in Mauritius. The permit holder is not allowed to remit to his country of origin or any country abroad the funds transferred into Mauritius or any balance thereof, except where the residence permit is cancelled. The individual should submit annually a statement from his local bank about the transfer of funds from abroad to his local account, along with a certificate to the effect that no money has been sent overseas from the account.