Guide to offshore

MAURITIUS
THE RIGHT LOCATION TO BRIDGE THE GAP

OUR
PEOPLE
ARE OUR
GREATEST
ASSET
WELCOME TO OUR OFFSHORE GUIDE
CONTENTS
3 Our values
4 The right strategy
5 The Offshore solution
6 We grow your business
7 Reputation of Mauritian offshore
8 Outsourcing companies
9 Investment holding companies
10 Trading companies
11 Royalty companies
12 Asset protection companies
13 Working, living and retiring in Mauritius
18 Reduced tax on trading
19 Add-on ﬁnancial services
20 The ABC of offshore
23 Contact information

Our values show our true
colours,
WE CARE FOR OUR CLIENTS.
RESPONSIVENESS
We readily react to the needs of clients with accurate solutions.
INTEGRITY
We safeguard confidential information of the clients.
EXCELLENCE
We commit to delivering, and sustaining, an outstanding level of service in
everything we do for our clients, as well as in our interactions with our
associates.
TRANSPARENCY
We commit to comply with the law, fighting money laundering and
corruption.
3

Mauritius, the right location to
bridge the gap,
WE HAVE THE RIGHT STRATEGY.
STRATEGIC LOCATION
Mauritius is a strategic Global Business centre situated in the Indian Ocean region
about 1,200 km off the African coast, to the east of the island of Madagascar.
STRATEGIC TIME ZONES
Mauritius is located in a convenient time zone allowing for the conduct of business
in the Far East in the morning, Europe during the early afternoon and the USA,
later in the day. It remains one of the fastest growing international financial centre.
STRATEGIC INFRASTRUCTURE
Well regulated legislative framework, highly skilled professional, international
standard banking sector and the continuous expansion of the double taxation
treaty network have led to the success of the Mauritian global business sector.
WORLD RECOGNITION
It offers an open and financially sound economy and the success of its economy
is largely a result of its political and socio-economic stability. The country’s
adoption of international best business practices is acknowledged by international
organizations such as the Organisation for Economic Cooperation and
Development (OECD), the Financial Action Task Force (FATF) and the World
Bank (WB).
4

Uncertain political climate
means uncertain investment
climate,
WE ARE THE SOLUTION.
WE ARE A CLEAN JURISDICTION
Mauritius was among the first jurisdictions to be included in the OECD White List.
WE PROVIDE INTERNATIONAL PROTECTION
The Investment Promotion and Protection Agreements provide for free
repatriation of investment capital and returns and guarantee against
expropriation. They also provide for a most favoured nation rule with respect to
treatment of investors, and compensation for losses in case of war and armed
conflict. They also include arrangements for the settlement of disputes between
investors and the contracting states.
Network of agreements with African countries includes 19 Investment Promotion
and Protection Agreements (IPPAs)
YOUR INFORMATION IS IN SAFE HANDS
Repatriation of foreign investment and the profits from it is subject to proof of the
origin of the money, and subject to payment of any outstanding Mauritian taxes.
However, generally money can flow freely to and from Mauritius without any
intervention or reporting requirements.
ROBUST LEGAL SYSTEM
The legal system of the Mauritius is well established and has its composite roots
in the French Napoleon Code (civil law) and the British legal framework (common
law). The government of Mauritius has been very clever and has emulated the
legislation of a number of countries thereby having and implementing the best that
is available.
5

People already use V-Cube
as their business partner,
WE GROW YOUR BUSINESS.
ITS ALL ABOUT TRUST AND RESULTS
Our pool of clients comes from Africa, Asia and Europe. The comfort we can
provide to your business is priceless. We prime for customer satisfaction. We are
the industry experts that people trust, irrespective of their company turnover and
Independent of the size of their company.
ALL THAT MATTERS IS SAVING MONEY AND PROTECTING ASSETS
Through our network of professional intermediaries including accountants,
lawyers, banks, trust companies, fiduciaries, independent financial advisors and
tax advisors With our extensive network, we guarantee to provide the highest level
of customer service.
WE MAKE THE VOW TO GROW YOUR BUSINESS
We will always ensure that your business model is geared for maximum efficiency.
We understand the needs of global businesses and ensure that the assets of the
company are preserved while maximising profits.
WE DELIVER A MULTITUDE OF SERVICES
1. Advisory services on suitable offshore company formation.
2. Secretarial and compliance services to make sure your company always
comply to the law.
3. Provision of registered office and legal representation.
4. Opening and maintaining offshore bank accounts.
5. Provision of professional directors and nominee shareholders.
6. Accounting and audit services.
7. Implementation of all structures necessary for day-to-day running including
advising on investments and trading, drafting agreements and contracts and
invoicing.
8. Corporate design solutions: Building your company website and designing all
your marketing materials.
6

Still not convinced?
WE HAVE A REPUTATION TO
MAINTAIN.
Index Global Rank Africa Rank
World Bank Doing Business 2014 20 out of 189
countries
1st out of 47 countries
Global Competitiveness Index 2014–2015 39 out of 144
countries
1st
Mo Ibrahim Index of African Governance 2013 1st out of 52 countries
2014 Index of Economic Freedom 8 out of 178 1st
Human Development Index 2014 63 out 187 2nd after Libya
Democracy Index 2012 Full Democracy 1st
Knowledge Economy Index 2012-World Bank 62 out of 145
countries
1st
Global Enabling Trade Report 2014 – World
Economic Forum
29 out of 138
countries
1st
Mercer’s 2014 Quality of Living Survey 82nd 1st
Fraser institute economic freedom 2014 5 out of 152 countries 1st
Outsourcing Readiness Index (Africa) 2009 53 2nd out of 15
Global Information Technology Report 2014 48 out of 148
countries
1st
ITU –United Nations Agency for Information and
communications - ITU’s Digital Access Index 2012
74 out of 155 2nd
Forbes Survey of Best Countries for Business
2013
29 out of 145
countries
1st
The Travel and Tourism Competitiveness 2013 58 out of 140
countries
2nd
Social Progress Index 2014 34 out of 132
countries
1st
7

We do not just offer services,
WE OFFER SOLUTIONS.
1. FOCUS ON YOUR CORE ACTIVITIES -
OUTSOURCING COMPANIES
Irrespective of where your company is situated, we can outsource your
accounting, invoicing and payroll services at a very cost efficient price. V-Cube will
assist your business thereby ensuring that it is structured to enhance
development while you focus on the core activities of your company.
Mauritius is ranked 2nd of 15 African countries regarding outsourcing readiness
Index (Africa).
Apart from letting you focus on your core activities, outsourcing companies offers
BIG ADVANTAGES.
TOP 5 ADVANTAGES USING OUTSOURCING COMPANIES
1. This activity is tax exempted in Mauritius. The net effect of taxation affects
only one state that is domicile of residence.
2. High level of confidentiality – No public access.
3. No audited accounts required.
4. Cost effective - license is only about 1500 USD per year. No need for
extra special licenses or fee paid to government.
5. Outsourcing companies can be setup in one week.
8

2. INVESTMENT HOLDING COMPANIES
Investment holding companies can hold assets anywhere in the world. There are
no restrictions to international transfers and dividends paid from Mauritius.
Mauritius has ratified DTAAs1
(Double Tax Avoidance Agreements) with various
African countries. Mauritius currently has tax treaties with 39 countries including
15 African countries.
Whenever investments are geared towards countries where DTAA’s have been
signed, the best solution is to incorporate an investment holding company in
Mauritius to take advantages of the Double Taxation Avoidance Agreements.
Investment holding companies will allow you to SAVE ON TAX on all assets; be
it shares in a company, real estates, land, commodities and other type of
investments.
To give you an insight on the POTENTIAL SAVINGS we compare investment
directly to Africa and going through Mauritius:
CAPITAL Rate in the range of 30% ‐ 35% in Africa.
GAINS TAX2
: No capital gains tax going through Mauritius.
DIVIDENDS3
: Tax ranging between 10%‐20% in Africa to non-residents.
ZERO or reduced tax going through
Mauritius.
INTEREST4
: Tax ranging between 15%-30% in Africa.
Maximum of 3% going through Mauritius.
ROYALTIES5
: Tax ranging between 10%-20% in Africa.
ZERO or reduced tax going through
Mauritius.
WE OFFER SOLUTIONS.
9

3. TRADING COMPANIES
Offshore trading companies can provide HUGE TAX SAVING to any trades
around the globe.
A typical offshore trading company will do all invoicing in Mauritius while the goods
are traded as usual between the countries in the business model below:
Benefits of going through this model:
Assume that Country A and B have tax treaties with Mauritius, the trading company
will be exempted from most taxes from the two countries and the effective tax rate
in Mauritius will be 0%-3%.
The special favourable tax rate given to companies involved this model will
improve profit margins significantly, allowing the customer to become MORE
COMPETITIVE in the global market and can use the profit for reinvestment and
development.
BUSINESSMAN
Offshore trading company
in Mauritius
Country A Country B
Invoice to buy
goods
Invoice to sell
goods
Transport of goods
WE OFFER SOLUTIONS.
10

4. ROYALTY COMPANIES
Royalty companies act as a holding company who can purchase a copyright,
patent, trademark from its original holders and exploit the intellectual property in
various countries. Normally, withholding tax on royalties are very high varying from
30% or more.
Presence of a double-tax-avoidance treaty between the countries involved will
subsequently reduce the withholding tax.
In this scenario, a UK company wants to sells BRAND X products in UK. The UK
company has to pay royalty tax to country A to be able to sell BRAND X products.
Beneﬁts of going through this model:
ROUTE A: The UK company buys the rights to sell the product and pays a royalty
tax normally at 30% or more in country A.
ROUTE B: There is no withholding tax on royalties in Mauritius. The royalty
company in Mauritius will sell the rights to the UK company at a reduced tax rate
through the tax treaties between Mauritius-Country A and Mauritius-UK.
BUSINESSMAN
Royalty company in Mauritius
Country A UK
Acquires Royalty/Patent
from Country A
Sells rights to UK company
UK company buys directly from
country A at 30% or more
WE OFFER SOLUTIONS.
11

5. ASSET PROTECTION COMPANIES
Through asset protection companies, clients are able to establish legal offshore
structures to cater for their FAMILY ESTATE AND SUCCESSION
PLANNING6
on their estates on death.
Creating an asset protection company will act as a PROTECTOR7
of your
assets. Asset protection companies are set up in an attempt to AVOID OR
MITIGATE THE EFFECTS OF TAXATION, divorce and bankruptcy on the
beneficiaries.
Under certain legal structures, the assets transferred into the asset protection
company may be sheltered from any potential claim after a set number of years.
Other benefits of asset protection companies include:
TOP 5 ADVANTAGES USING ASSET PROTECTION COMPANIES
1. Reduce taxation of assets when transferring assets to beneficiaries.
2. The client is guaranteed safety of his assets placed under the asset protection
company through a sound legal structure.
3. The client can shelter his assets against creditors under the asset protection
company.
4. The asset protection company is the highest flexible structure available and is
kept private to suit individual needs of the client.
5. Asset protection company can hold all types of assets from real estate to
intellectual property.
WE OFFER SOLUTIONS.
12

6. WORKING, LIVING AND RETIRING TO MAURITIUS
Mauritius offers an exceptionally safe, hospitable and pleasant environment for
people from over the world to retire on the island. There are ample accommodation
facilities, from fully serviced apartments to luxurious villas and beachfront
residences.
While the cost of living is affordable, medical services are of a world-class
standard.
OCCUPATION PERMIT (WORKING & LIVING PERMIT)
Through the occupation permit, Mauritius enables non-residents to live and work
in Mauritius fairly easily. To obtain an occupation permit (valid for three years),
certain criterias have to be met:
IF YOU ARE AN INVESTOR
Your business turnover8
should exceed MRU 4 million annually with an initial
investment of USD 100, 000. In case of multiple investors in the business, each
investor should respect the same criteria.
IF YOU ARE A PROFESSIONAL
Basic salary should exceed MRU 45,000 (approx USD 1600) monthly.
Professional in the ICT Sector should exceed MRU 30, 000 monthly.
IF YOU ARE A SELF-EMPLOYED
Income from the business should exceed MRU 600,000 annually with an initial
investment of USD 35,000.
WE OFFER SOLUTIONS.
13

WE OFFER SOLUTIONS.
6. WORKING, LIVING AND RETIRING TO MAURITIUS(cont’d)
FOR A FIRM
A firm applying for an occupation permit for any foreign employee should cater a
salary of more than Rs 45,000 (approx USD 1,600) a month for the employee and
can also apply for a residence permit for the spouse and children of that
employee.
FOR A RETIRED NON-CITIZEN
Criterias are as follows:
1. The retired non-citizen should be 50 years of age.
2. He/she should undertake to transfer to his/her local bank account in Mauritius,
at least 40,000 US dollars annually.
3. He/she should make an initial transfer of at least USD 40,000 or its equivalent
in freely convertible foreign currency when first settling in Mauritius.
The spouse of a holder of an occupation permit can take up any job according to the same
criterias as investors or skilled professionals.
14

WE OFFER SOLUTIONS.
Permanent Residence Permit (PRP)
The PRP is by definition an extension of the occupation permit and it allows any
foreigners to work and/ or live in Mauritius for a period of 10 years.
CRITERIAS FOR ELLIGIBILITY
FOR AN INVESTOR
Holding an occupation permit for 3 years immediately preceding the date of the
application for PRP and whose company’s turnover exceeded Rs 15 million every
year during each of these 3 years.
FOR THE SELF-EMPLOYED
Holding an occupation permit for 3 years immediately preceding the date of
application for PRP and whose income exceeded Rs 3 million every year during
each of these 3 years.
FOR THE PROFESSIONAL
Holding an occupation permit for 3 years immediately preceding the date of
application for PRP and who has drawn a basic monthly salary of at least Rs
150,000 during the entire three year period.
FOR THE RETIRED NON-CITIZEN
Holding a residence permit for 3 years and who has transferred to Mauritius US$
40,000 or its equivalent in convertible currency annually during each of these 3
years.
Only married spouse and dependent children under 18 years are eligible for PRP. Children
over 18 years old may obtain such permit if enrolled in a fulltime education in Mauritius.
15

WE OFFER SOLUTIONS.
IRS SCHEME
Under the IRS scheme, foreigners can purchase a property with an investment of
at least USD 500,000. The land’s size of each villa shall not exceed 1.25 arpents.
After acquisition through the IRS, they will obtain permanent residency. Their
spouse and dependents can also become Mauritius residents as long as he (the
owner) holds the property. Villas sold under the IRS are luxury properties of world
class standard, high-class amenities and leisure such as golf course, private
marina and swimming pool, watersports facilities, wellness and spa centres,
restaurants. Services such as waste disposal, gardening, maintenance, security
are also included.
Who can apply under this scheme?
- Non-citizen of Mauritius.
- Citizen of Mauritius.
- A registered foreign company in Mauritius(Offshore company)
- A company incorporated in Mauritius(Domestic company)
16

WE OFFER SOLUTIONS.
RES SCHEME
The Real Estate Scheme (RES) has been introduced by the Government of
Mauritius in December 2007 to allow the development of residential units (villas,
apartments, penthouses…) for sale mostly to non-citizens on freehold land of at
least 1 arpent but no more than 10 hectares in size. Only small land owners who
have owned their land for at least 5 years can apply for a RES permit.
Compared to the IRS, there is no minimum amount of investment in the purchase
of a property under the RES. Yet, if purchase price is equal to or more than USD
500,000 the buyer and his dependents will be eligible for Mauritian residency. If
the purchase price is less, the buyer can stay in Mauritius for 6 months a year on
a holiday visa. The extent of land that may be used for a single residential property
should not exceed 1.25 arpents. The RES includes leisure amenities and
commercial facilities. Day-to-day management services such as security,
maintenance, gardening, household service, solid waste disposal are also
included.
In essence, it is a smaller version of an IRS and does not have the resort side that
the IRS offers, as it is purely residential.
Acquiring a property under the RES does not confer permanent residency.
Acquirers of a residence under the RES may wish to apply for residency under any
of the 4 existing conditions: as an investor, as a professional, as a self-employed,
or as a retired non-citizen as explained earlier.
17

Tired of custom duties,
WE OFFER REDUCED OR ZERO
TAX ON TRADES.
7. REDUCED TAX ON TRADING
Mauritius is a member of both the Common Market for Eastern and Southern
Africa (COMESA) and Southern African Development Community (SADC).
The advantages derived from those agreements enable trade at reduced or zero
tax. By satisfying the COMESA Trade Protocol, goods processed in the Mauritian
freeport can qualify for zero or reduced tax duties in inter trades between other
COMESA member states including:
Djibouti, Eritrea, Ethiopia, Egypt, Libya, Sudan, Comoros, Madagascar, Mauritius,
Seychelles, Burundi, Kenya, Malawi, Rwanda ,Uganda, Swaziland, Zambia
Zimbabwe, Democratic Republic of the Congo and South Sudan.
The SADC protocol makes provision for gradual elimination of custom duties over
a 12-year period. All goods originating from SADC member states will be traded
freely without custom duties with the SADC region.
SADC member states includes:
Angola, Botswana, Democratic Republic of the Congo, Lesotho, Madagascar,
Mauritius, Mozambique, Namibia, Seychelles, South Africa, Swaziland, Tanzania
and Zambia.
18

8. ADD-ON FINANCIAL SERVICES
OFFSHORE BANKING
Opening a new account is a rite of passage for many persons. V-Cube establish
and administer accounts with a number of overseas banks and local banks.
Offshore banking offers benefits such as discretion, multi-currency accounts,
credit cards to be used worldwide, having money in an ECONOMICALLY
AND POLITICALLY STABLE COUNTRY.
Our banking partners: AfrAsia Bank, Barclays Bank, Mauritius
Commercial Bank, State Bank of Mauritius, Bank One, HSBC and Bramer Bank
FUND MANAGEMENT
Mauritius is recognised as a leading regional centre for offshore fund structuring
and administration, for investment particularly in India, Asia, Middle East and
African countries.
With our experienced staff, V-Cube will administer your fund with services dealing
from daily NAV calculation9
, accounting and compliance monitoring to remain in
line with regulations of relevant authorities. Fund administration is done through
our team and network of experts.
INVESTMENT DEALER LICENSE
The Investment Dealer licenses in Mauritius appeal to Brokerage Houses10
worldwide. The license enables a broker to effectuate orders for clients, maintain
portfolios of clients and give recommendations on securities transactions to
clients. The main advantage of obtaining an investment dealer license in Mauritius
is that it is available in different categories including full service dealer
(with/without underwriting), foreign dealer (with currency or commodities
segments) and discount broker.
Because we aim to be a
global leader,
WE OFFER ADD-ON FINANCIAL
PRODUCTS.
19

THE ABC OF OFFSHORE
1. DTAA(DOUBLE TAX AVOIDANCE AGREEMENT)
It is not unusual for a business or individual who is resident in one country to make
a taxable gain (earnings, profits) in another. This person may find that he is
obliged by domestic laws to pay tax on that gain locally and pay again in the
country in which the gain was made. Since this is inequitable, many nations make
bilateral double taxation agreements with each other. In some cases, this requires
that tax be paid in the country of residence and be exempt in the country in which
it arises.
So far Mauritius has concluded 39 tax treaties and is party to a series of treaties
under negotiation. The treaties currently in force are:
Because offshore is complex,
WE EXPLAIN IT TO YOU.
Australia (Partial) Barbados Belgium
Botswana Croatia Cyprus
Democratic Socialist Republic of
Sri Lanka
France Germany (New)
Guernsey India Italy
Kuwait Lesotho Luxembourg
Madagascar Malaysia Monaco
Mozambique Namibia Nepal
Oman Pakistan People's Republic of Bangladesh
People's Republic of China Rwanda Senegal
Seychelles Singapore South Africa
State of Qatar Swaziland Sweden (New)
Thailand Tunisia Uganda
United Arab Emirates United Kingdom Zambia
Zimbabwe
20

THE ABC OF OFFSHORE
2. CAPITAL GAINS
A capital gain is a profit that results from a disposition of a capital asset, such as
stock, bond or real estate, where the amount realized on the disposition exceeds
the purchase price. The gain is the difference between a higher selling price and
a lower purchase price.
3. DIVIDENDS
A dividend is a payment made by a corporation to its shareholders, usually as a
distribution of profits.[1] When a corporation earns a profit or surplus, it can either
re-invest it in the business (called retained earnings), or it can distribute it to
shareholders.
4. INTERESTS
Interest is a fee paid by a borrower of assets to the owner as a form of
compensation for the use of the assets. It is most commonly the price paid for the
use of borrowed money, or money earned by deposited funds.
5. ROYALTIES
A royalty (sometimes, running royalties, or private sector taxes) is a usage-based
payment made by one party (the "licensee") to another (the "licensor") for the right
to ongoing use of an asset, sometimes an intellectual property (IP). Royalties are
typically agreed upon as a percentage of gross or net revenues derived from the
use of an asset or a fixed price per unit sold of an item of such, but there are also
other modes and metrics of compensation.
21

THE ABC OF OFFSHORE
6. FAMILY ESTATE AND SUCCESSION PLANNING
In the context of succession planning, each member of the family has to know that
the others are committed to help each other be successful.
7. PROTECTOR
The concept of a protector is developed in offshore jurisdictions where settlors are
concerned about appointing a company in a small, distant country as sole trustee
of an offshore service which is to hold a great deal of the client(settlor)'s wealth.
8. TURNOVER
The annual sales volume net of all discounts and sales taxes.
9. NAV CALCULATION
Net asset value may represent the value of the total equity, or it may be divided by
the number of shares outstanding held by investors and, thereby, represent the
net asset value per share.
10. BROKERAGE HOUSES
A brokerage firm, or simply brokerage, is a financial institution that facilitates the
buying and selling of financial securities between a buyer and a seller. Brokerage
firms serve a clientele of investors who trade public stocks and other securities,
usually through the firm's agent stockbrokers.
22

"The avoidance of taxes is the only intellectual pursuit that carries any reward"
–JohnMaynardKeynes,aBritisheconomistwhoseideashavefundamentallyaffected
the theory and practice of modern macroeconomics and informed the economic
policiesofgovernments.
CONTACTUSTHROUGHCONTACT@VOSLGLOBAL.COM
SKYPE V-CUBE_OFFSHORE
TELEPHONENUMBER+2304651400
ADDRESS
5THFLOORORBISCOURT,
132STJEANSTREET,
QUATREBORNES,
MAURITIUS
WWW.VOSLGLOBAL.COM

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