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V-Cube Offshore Services Limited - Mauritius

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Transcript of V-Cube Offshore Services Limited - Mauritius


Beyond the clichés and advertising discourse about the beauty of Mauritius, this tiny island in the Indian Ocean features many strengths.

Whether you’re investing or trading across borders or simply looking for a second home or a place to retire, Mauritius is the ideal platform for a home and for your business.
Enjoy world-class spa services that will set you off on another journey of the senses.
The Government of Mauritius has set up the 'Smart City Scheme' to provide an enabling framework & a package of attractive fiscal and non-fiscal incentives to investors for the development of smart cities across the island.

The smart-city concept is about providing investors, nationals & foreigners with options for living in sustainable, convenient and enjoyable urban surroundings.

These new cities will be built around the work-live-play lifestyle in a vibrant environment with technology & innovation at their core.

Mauritius as a Gateway

In regards to shopping for instance, you would find the same stores.

Whether from fashion stores (Woolworths, Mango...) to groceries (Shoprite, Pick & Pay, Spar...), Mauritius offers similar products and brands with the benefit of spending either the same or less than the usual.

Hence, on the cultural side you should not lose your cues.
For those who are curious and eager for discoveries, this little island would not be disappointing either. The sea will push you to discover water sports, parasailing, canoeing & sky-diving.
One of the reasons that account for the current high demand of settling on the Mauritian territory is its : ECONOMY & TAXATION.

Mauritius as an IFC provides a robust regulatory framework sensibly balanced with a business friendly environment.

The success of Mauritius as an International Financial Centre (IFC) is to a large extent due to the steadily increasing levels of expertise, professionalism, high end service offerings of service providers in the industry.

Strategically located as a gateway to both Africa and Asia, Mauritius is a stable, secure, diversified and globally competitive business hub.
Mauritius offers a quality of life where you will find high standards of healthcare with public and private hospitals services by specialists with international qualifications and exposure.
The education sector boasts several schools of international standard, both public and private, delivering the Cambridge University A’ levels, the French Baccalaureate and the International Baccalaureate. Several tertiary education providers can also be found, offering internationally recognised degrees and post-degree qualifications.
Over the island, several competitively priced luxury apartments, fully furnished villas and beach front residences are available. A few international property agents have appointed representative agencies locally.
Intelligent, Innovative & sustainable cities of the future.
Your trading platform
The Stock Exchange of Mauritius (SEM) is a domestic equity-centric Exchange & is expanding into a regional stock exchange, with special regulations for enabling the listing of junior mining companies.
The Mauritius port will undergo a major development in the coming years with a seven-kilometer extension of the Port, which will also comprise new facilities, and a modern port that will be the region's leading port.

What should you do to benefit from these facilities?

A mix of commercial, leisure & residential uses that as a whole achieves physical & functional integration & creates a pedestrian-oriented urban environment.

A combination of office, light industrial, education, medical & tourism clusters.

High-technology & innovation cluster.

Infrastructure to service green-field sites with roads & inspiring land-scaping.

Clean technology aimed at carbon & waste reduction, efficient transport.

Low energy consumption buildings.

Digital solutions, urban serving technologies & big data analytics.

Energy production & waste management & utilities.

High-end residential estate & real-estate investment management.

Commercial real estate developers
Companies interested in establishing a regional presence through the Mauritian business hub
Companies specialised in innovation & green tech
Non-citizens, including retirees, looking to relocate & live in a urban, secure & sustainable environment.

Any person, any entity including foreign companies & trusts can acquire residential units in a smart city.

Any non-citizen acquiring a residential unit above USD 500,000 under the scheme is eligible to a residence permit for himself & his family.

No restriction on rental or resale of residential units. Possibility for a retired person to acquire life rights under the Smart City Scheme.
To be eligible to live & work in Mauritius, non-citizens should apply for an Occupation Permit (OP).
The OP is combined work & residence permit that allows non-nationals to work & reside in Mauritius.
Non citizens, above the age of 50, may also choose to retire in Mauritius under a Residence Permit. (RP)
A non-citizen having held a residence permit for a minumum period of 2 years & having made an investment over USD 5 million in Mauritius may apply for Mauritian citizenship.
Mauritius is a historically stable country since its independence in 1968.

Political regimes are succeeding one another in democratic and transparent ways.

The government has put in place effective laws so as to attract many investors worldwide, particularly including effective agreements on non-double taxation with dozens of countries.

These laws as well as the arrival of foreign companies that invest on the Mauritian territory, all contribute to the country's economic prosperity as well as to its strong growth over the past years.

This attractiveness is reflected in a particularly favourable tax regime. The taxes are uniformed and amounted to 15% of the income, without other tax imposed.
The dynamism of Mauritius as well as for its inhabitants have strong impacts on the evolution of the country, becoming in few years a stronghold of the Indian Ocean.

The country has been modernized in terms of infrastructure (new highways, new airport, ...), and foreigners are more likely willing to settle in Mauritius.

The country is now seen both as, the gateway to invest in Africa and the main economic hub of the Indian Ocean, in particular between Asia and Africa.
A little history...
Applications for an Occupation Permit or a Residence Permit may be submitted under any of the following categories:
The Business activity should generate a turnover exceeding MUR 4 million annually with an initial investment of USD 100,000.
The basic salary should exceed MUR 60,000 monthly. However, the basic salary for professionals in the ICT sector should exceed MUR 30,000 monthly.
The income from the business activity should exceed MUR 600,000 for the first two years & MUR 1,200,000 for the third year with an initial investment of USD 35,000.
The non-citizen must undertake to transfer to his/her local bank account in Mauritius at least USD 40,000 annually.
Mauritius as
Mauritius is situated 2000 kilometers off the South East Coast of the African continent in a convenient GMT+4 location, where trading and business can be done with major markets including Africa, Europe, USA and Asia, all in a single business day.

Together with its state-of–the-art business parks, an impressive pool of graduates and highly trained professionals readily available, combined with high end communication infrastructures and daily international flights; Mauritius has the “X factor” to provide world class financial services and be the gateway to Africa.
Mauritius is a safe, stable and secure jurisdiction.

This is reflected through its various memberships/awards in relation to
“International recognition for political stability and economic strength.”

World Bank Doing Business 2016 (out of 189 countries)........................................................... Mauritius Ranks
Global Peace Index ......................................................................................................................................... 1st
Overall Ranking on the Ease of Doing Business ................................................................................... 32nd
Starting a business ........................................................................................................................................ 37th
Protecting minority Investors ..................................................................................................................... 29th
Trading Across Borders ................................................................................................................................. 66th
2015 Mo Ibrahim Index of African Governance ( out of 54 countries) .......................................... 1st
Global Competitiveness Index 2015-2016 (out of 140 countries) ............................................... 46th
The Wall Street Journal & the Heritage Foundation Index of Economic Freedom 2015
(out of 178 countries) ................................................................................................................................. 10th
(1st in Africa)
Mauritius is also a member of:
- the World Trade Organization(WTO),
- the Commonwealth of Nations,
- La Francophonie,
- the African Union,
- the Southern Africa Development Community (SADC),
- the Indian Ocean Commission, COMESA
- and formed the Indian Ocean Rim Association;
Learn about the intricacies of entering the Mauritian market.

Understand how Mauritius has become the most competitive economy in Africa, moving from a geographically isolated island to a real gateway & hub for Africa.

Learn about Mauritius as a link between Africa & South East Asia & how strong political institutions build economic competitiveness.

How will you benefit?

In addition, it has numerous Investment Promotion and Protection Agreements (IPPAs) & is signatory to almost 43 Double Taxation Avoidance Agreements (DTAA) with different countries which ensures many advantages like tax credit, free repatriation of capital and returns on investments.
The Board of Investment introduced the Africa Centre of Excellence for Business as a one-stop-shop to focus on investment opportunities in the sub-Saharan region.
We can play a meaningful role as a gateway for investment into emerging African markets.

We are actively looking to expand our network of strategic alliances & mutually beneficial partnerships that extend our global reach & complement our existing products & service offerings.


Business-friendly environment
No thin capitalisation Rules
No stamp duties & no Registration duties
No capital gains tax
Listed by OECD as a white list jurisdiction.
Benefit from a low to nil taxation
Legal & political security
One-stop shop for launching of business
A maturing international hub
Security of assets
100% foreign ownership
No exchange control (Free repatriation of funds)
A network of over 43 treaties that provides tax efficiency
The Occupation Permit/Residence Permit is granted for a maximum period of three years, renewable thereafter subject to established criteria.
Through legal entities such as Global Business Companies, Global Funds, Trust, Foundation)
Business entities must be set up/ registered in Mauritius.
Business operations must be licensed by the Financial Services Commission(FSC), which is the regulator of non-banking financial institutions).
In terms of statutory matters (Registration of office, company, secretarial & administrative duties, minutes, filings, etc.)

Decision-making (at Board/ Management level)

Giving instructions for overseas activities


Book-keeping/ Accounting/ Record-keeping

Audit & Filing

Tax return
We ease your burden by providing the following services:
(1) Global Business Companies - Category 1 (GBC1)
A GBC1 is governed by the Companies Act 2001 & Financial Services Act 2007.

A GBC1 can carry out any lawful activity provided that it proposes to conduct business outside Mauritius. They cannot deal with Mauritian residents unless permission is obtained from the FSC. The company must be managed & controlled from Mauritius.

A GBC1 is considered to be tax resident in Mauritius & enjoys benefits under the extensive Double Taxation Avoidance (DTA) networks of Mauritius.

Generally set up when overseas income is predominantly in the form of dividends, royalties, interest & capital gains and when DTA benefits are needed.
Get to know more about the Global Business services that we offer
Can avail of Double Taxation Avoidance Treaty benefits.

Taxable entity - Net 3% or NIL if foreign tax exceeds 15%.

No withholding tax on payment of dividends, royalties, or interests.

No Capital Gains Tax.

Non-resident shareholders are not subject to tax in Mauritius or any other liability as beneficial owners of shares in a GBC1.
A GBC2 is regulated under the Financial Services Act 2007 & can carry out most business activities (usually cannot undertake activities related to financial services) but only with non-residents & in currencies other than the Mauritian rupee.

It is not tax resident therefore cannot benefit from the DTA network. It is completely exempt from paying taxes in Mauritius.

A GBC2 enjoys a flexible legal regime.

Companies that are engaged in invoicing, marketing & international trading activities will often use a GBC2 structure.
Completely tax exempt in Mauritius.

No need for audited financials - only financial summaries.

Incorporated within 3 to 5 days.

Low cost structure.
Trusts are legal structures used for wealth management purposes & are regulated under the Trust Act 2001.

The settlor of the trust transfers property or assets to the trust to be held by or vested in a trustee as per the terms laid out in a trust deed, i.e. the Management Companies to hold and administer the trust assets for and on behalf of specified beneficiaries.

Essence is the separation of legal and beneficial ownership, i.e. the property is legally owned by the trustees but held and administered for the benefit of the beneficiaries.
Confidentiality around the decisions of the Administrator, the identity of the settlor and beneficiaries.

Anti-forced heirship rules.
Separate legal entity governed by the Foundation Act 2012 enacted on 1st July 2012.

Assets are held on the name of the Foundation.

A Foundation, being tax resident in Mauritius, may benefit from the network of tax treaties.
The Mauritian Foundation is exempt from income tax for a financial year if:

The Founder is non-resident or is an offshore Company (GBC1)

All beneficiaries are non-resident or are offshore Companies (GBC1)
Any distribution to a beneficiary of a Foundation shall be considered to be a dividend to the beneficiary and there is no withholding tax on dividend in Mauritius.
(5) Global Funds
Global Funds are licensed as a GBC1 and deal in pooling funds from the investors for investing them mainly in securities with the aim of spreading investment risk and giving the investors the benefits of the results of the management of its funds.
Can avail of Double Taxation Treaty benefits

Taxable Entity - Net 3% or NIL if foreign tax exceeds 15%.

No withholding tax on payments of dividends, royalties & interests.

No Capital Gains Tax

Non-resident shareholders are not subject to tax in Mauritius or any other liability as beneficial owners of shares in a GBC1.
For a taste of the night life in Mauritius
Care for your education?
The concept paves the way for investors to develop & invest in:
The Modern logistics infrastructure of the Mauritian port results in cost-effective shipping of cargo to Africa in a relatively short time frame.

Advantages comprise the following:

Zero corporate tax for trading activities.

Exemption from customs duty on all goods imported into the Freeport zones and free repatriation of profit.

Reduced port handling charges for all goods destined for re-export.

Access to the local market: 50% of re-export value.

Excellent logistics and distribution supply chain with cold chain facilities.

Low costs of operations (USD 330 in Mauritius Freeport compared to USD 2,000 in UAE’s Free zone).

Preferential market access to COMESA and SADC RECs.

Good to know: the dependents of the holder of a work permit may also apply for a residence permit.
Mauritius fully supports international initiatives( FATF, Basel, IOSCO & IAIS) in combating money laundering & terrorist financing.
Mauritius through the economic outlook is seen to be healthy and forecasts real growth of 3.6% across 2015 and 2016, in line with historical averages.
Mauritius stands out in the region for its ease of doing business, its low taxes, and the importance given to the private sector’s views when the government shapes economic policy.

Also, ample liquidity is available in the domestic capital market and supports the government’s capacity to access local currency denominated funding.
While Mauritius has a small and open economy that is susceptible to external shocks, it also has an impressive record of resiliency.
The country’s relative wealth and diversification and the authorities proactive policies all support the economy.
If you want to know how to get hold of a property or stay in Mauritius, keep on watching the Prezi!
The number of cranes will increase from five to seven and the existing quay will be extended by 240 meters, which in turn will allow more operations in terms of volumes & numbers.
In the words of the island nation's finance minister:
"We are moving out from being a small port in the Indian Ocean to become the most important maritime hub in the region."
Also, the Dubai-based DP World, one of the world's biggest port operators will run a trade transhipment port to serve Africa.
Who we are?
V-Cube Offshore Services Limited (VOSL)
is an offshore management company, licensed by the Financial Services Commission to provide a comprehensive range of financial and fiduciary services to international clients.

We offer a comprehensive suite of services to our clients wishing to use Mauritius as a platform for investment or to do business internationally. We have a true understanding of each individual client’s needs and we tailor each solution accordingly.

We take pride in the mutual trust and successful long-term relationship that we build with our clients.

our team will assist you from the initial stages of structuring and set-up to your daily operations and maintenance.
whether you are promoting or looking to set-up:
an investment holding,
investment management,
High-net worth fund,
or service entity,
5th Floor Orbis Court, 132
St Jean Road,
Quatre Bornes,
Main: (230) 465-1400
Mr. Motee: (230) 52525744
Mr. Gajadur: (230) 58088962

F: (230) 465-6600
E: contact@voslglobal.com
SEM operates a multi-currency capital raising, listing & trading platform in four international currencies namely USD, EURO, GBP & ZAP & is increasing it's presence on the financial stage, which is in itself an indicator of financial depth and efficiency.
It is today well-positioned as an attractive capital raising & listing platform for African-focused products & international niche products.
Foreign investors benefit from numerous incentives such as revenue on sale of shares can be freely repatriated & there are no withholding tax on dividends & no tax on capital gains.
Foreign investors have, over the years, emerged as key players on the SEM & currently account for about 40% of the daily trading volumes on the Exchange.
(2) Global Business Companies Category 2 (GBC 2)
(3) Trust
(4) Foundation
Kindly note that all your information will be kept highly confidential & we are regulated under the aegis of the Financial Services Commission.
opening the way towards a larger market of over 400,000 million people.

• The corporate tax rate of a domestic company is 15%.

• A GBC 1 is subject to a flat rate of corporate tax of 15%. But generous foreign tax credits are available up to 80% of the Mauritian tax liability so that a GBC 1 will pay a net effective tax rate of 3% only.

• There is no capital gains tax.

• There is no withholding tax on dividends, interest and royalties.

• A GBC 2 is exempt from all forms of taxation.

• There are no inheritance tax, estate duty or gift taxes.

• No exchange controls; dividends and capital can be freely repatriated.

• Personal Income Tax of 15%.

• No Value Added Tax, stamp duty, & CSR applicable
for Global Business structures.

Key Corporate Features of GBC1
Type of Company: GBC I
Type of Law: Hybrid
Shelf company availability: No
Our time to establish a new company: 3 weeks
Corporate Taxation: Varies from 0% to 3%
Double Taxation Treaty Access: Yes

Share capital or equivalent

Standard currency: US$
Permitted currencies: Any except Rs.
Minimum paid up: US$1
Usual authorised: US$1,000,000

Minimum number Two
Local required 2 required
Publicly accessible records No
Location of meetings Anywhere, but include at least 2 directors from Mauritius
Corporate Directors allowed No
Minimum number: One
Publicly accessible records: No
Location of meetings: Mauritius - by proxy

Company Secretary
Required: Yes
Local or qualified: Local and qualified

Requirements to prepare: Yes
Audit requirements: Yes
Requirements to file accounts: Yes
Publicly accessible accounts: No

Requirement to file annual return: No
Change in domicile permitted: Yes
Key Corporate Features of GBC2

Type of Company: GBC II
Type of Law: Hybrid
Shelf company availability: Yes
Our time to establish a new company: 3 days
Corporate Taxation: Nil
Double Taxation Treaty Access: No

Share capital or equivalent

Standard currency: US$
Permitted currencies: Any except Rs
Minimum paid up: US$1
Usual authorised: US$100,000


Minimum number: One
Local required: No
Publicly accessible records: No
Location of meetings: Anywhere
Corporate Directors allowed: Yes


Minimum number: One
Publicly accessible records: No
Location of meetings: Anywhere

Company Secretary

Required: Optional
Local or qualified: No
The tax regime of Mauritius comprises the following:
How does it operate?

Mauritius is rated as the best performing economy in Africa by the World Economic Forum (WEF) Africa Global competitiveness Report 2015 entitled: “Transforming Africa’s Economies” released on June 4, 2015 in South Africa.

WEF report 2015 rates Mauritius as best performing economy in Africa
Being the holder of a management company licence, our core service is multi-jurisdictional trust and company set up & administration with a niche in the resources sector. Building on this foundation, we have become an efficient and cost effective “one stop shop” in Mauritius for a range of professional services to private and corporate clients as set out below:

• Corporate Management & Secretarial Services;
• Trust & Trustee services;
• Family Office Services;
• Back Office Administration & Accounting;
• Structured Finance and Trade Services;
• International Licensing and collection Services;
• Fund Services;
• Human Resource & Payroll Services;
• Relocation and Residency;
• Property Services;
• Bank Account opening and Operation;
• Nominee shareholding Services;
• Tax computation services;
• Registrar services.

A Jurisdiction of Choice and Stability
Fiscal & non-fiscal incentives
Highly-skilled bilingual workforce
No withholding tax on dividends, royalties, and interest paid by the GBC1.
Well-regulated jurisdiction with a vibrant & trusted business platform
Within a convenient time zone in relation to the United States, Europe and Asia at GMT +4 hrs.
Streamlined procedures for permits & licenses
No minimum capital requirements for the incorporation of a company.
Easy access to South Africa, Asia, the Middle East and Europe
Deal in most major currencies such as USD, GBP, EURO, JPY, CNY, ZAR, AUD, etc.
Ease of obtaining Residency & Occupation Permits
Low labour cost
Tax efficiency
Regulatory framework
The financial services sector in Mauritius is regulated by two bodies who have adopted the best international practices in order to prevent misuse of our jurisdiction– each with specific statutory objectives:-

• The Bank of Mauritius (BOM), set up in 1966, well known to all, and which is responsible for the regulation of banking services and

• The Financial Services Commission (FSC) set up in 2001, as an integrated regulator for non-banking financial institutions and global business.
Mauritius will become a gateway to Asia through Singapore for the islands of the Indian Ocean and countries of eastern and southern Africa as a result of the agreement signed on 14 October 2015 between Mauritius and Singapore Changi Airport.

In the wake of this agreement, a committee will be set up to accelerate the processes of transforming Mauritius into a regional Aviation hub.

The Prime Minister, Sir Anerood Jugnauth, said that this ‘Air Corridor’ offers an exceptional opportunity for growth for Air Mauritius as it taps into the tremendous potential of traffic between Asia/South East Asia and Africa. The increase of frequencies into Singapore will dovetail with the Regional Airline project.

The agreement reinforces the economic vision of the government to transform Mauritius into one of the Indian Ocean’s biggest aviation hubs, and to cement the country’s role as the Star and Key of the Indian Ocean.

At VOSL, we understand the need for quality work & we will meet your needs at a reasonable rate.

Contact us to start your next venture!
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