Mauritius company formation.

Situated in the Indian Ocean, approximately 800km off the East Coast of Madagascar, Mauritius is a political and financially stable, mature democracy which has actively sought and welcomed foreign investors and business for many decades. The banking, communications, financial and professional infrastructure is adept at meeting the demands of international business and tax practitioners.

Population

The population of the island is approximately 1,300,000, composed of people of European, African, Indian and Chinese origin. Mauritius takes pride in the fact that these different cultures co-exist in peace and succeed in creating a cultural entity that is distinctly Mauritian.

Political structure

The British ruled Mauritius for 158 years until 12 March 1968, when it became independent within the Commonwealth. The Republic of Mauritius is a Westminster-style democracy.

The President is the head of state and Commander-in-Chief, while the Prime Minister has full executive power and is the head of Government.

The Members of Parliament are elected every five years by popular vote, and several political parties contest the elections every five years, reflecting the country’s firm commitment to a multi-party political system. Parliament is the legislative authority in Mauritius.

Economy

Since independence in 1968, Mauritius has developed from a low-income, agriculturally based economy to a middle-income diversified economy with growing industrial, financial, and tourist sectors. For most of the period, annual growth has been from 5% to 6%.

The government’s development strategy centres on foreign investment. Mauritius has attracted more than 15,000 offshore entities, many aimed at commerce in India and South Africa, and investment in the banking sector alone has reached over $1 billion. The economy grew by 5.0% in 2023, and the Gross National Income (GNI) per capita at market prices reached €13.89B. The unemployment rate in 2023 is estimated at about 6.3%, while inflation stands at 7.82%.

Laws, regulations and standards

The legal system of the Republic of Mauritius derives from both French and English sources. During French rule (1715 until 1810), the Island’s system was governed by the French Napoleonic Code, which remained under British rule with subsequent amendments in civil and criminal procedural laws and company law.

Mauritius, therefore, enjoys a hybrid legal system combining civil and common law practices. Though a Republic, Mauritius remains a member of the Commonwealth, and the right of appeal to the Privy Council is preserved. The Republic of Mauritius, a presidential democracy modelled on the British system of parliamentary democracy, guarantees the separation of the legislative, executive and judicial powers.

Language

English is the official language. However, the Mauritian population is largely bilingual, equally fluent in English and French. Creole is also spoken and understood by everyone.

Currency

Mauritian Rupee (MUR, Re)

Exchange control

There is no exchange control in Mauritius.

Law type

Mauritius follows Common Law for corporate matters.