A delegation from Mauritius is currently in the United States to increase trade and investment from the US for the Indian Ocean island.
Speaking in Washington DC, Mahen Kumar Seeruttun, the Mauritian Minister for Financial Services and Good Governance, said the country was not a tax haven for non-payers and was compliant with the standards of the Organisation for Economic Cooperation and Development (OECD) with regard to tax norms.
Any licensee operating in Mauritius has to have officers and local directors and show that activities are being carried out. No shell companies are allowed to operate in Mauritius as they won't be licensed.
“We have put a lot of efforts and resources to ensure whoever is looking at Mauritius is being given the right treatment and that applications are being processed in a very seamless way,” Seeruttun said.
“When you look at the World Bank report on ease of doing business, we are ranked 13th in the world. We have improved and keep on improving.”
He said the Economic Development Board, which is the investment promotion arm of the government, has a process in place whereby investors are assisted to ensure things are done rapidly and efficiently.
“The country’s Financial Services Commission (FSC) regulates the non-banking financial services sector. There, too, we have a specialised desk, where whoever is applying for a license would meet the right people.”
Seeruttun emphasised that investors won’t be sent from pillar to post and that red tape is ruled out where possible.
Investors have all the information they require, and applications are treated in a very efficient way.
“Within weeks, a license can be processed and delivered, if all the documents are completed and submitted.
“As policymakers we try to be as flexible as possible, to make sure that people feel welcome when they want to look at Mauritius as a place to do business.”
Seeruttun added that Mauritius has also introduced a number of incentives to attract investors.
“We hope that in the very near future, we can be in the top 10 when it comes to ease of doing business,” he said.
He also highlighted the African Continental Free Trade Agreement, the free trade agreement Mauritius has with China, India, the UK and the EU, and that his country is only four hours away from South Africa.
