ABOUT MATCO

The Mauritius Administration and Trust Company (“MATCO”) is a leading Management Company based in Mauritius that provides a bespoke blend of wealth, fiduciary and structuring solutions to both individual and corporate clients. We also understand the requirements of professional intermediaries who need a partner that can deliver a range of offshore management services to complement their own.

Established in 2005 and fully regulated by the Mauritius Financial Services Commission, MATCO has an innovative and entrepreneurial approach to the administration and trusteeship involved in financial services. As an independent service provider, we align ourselves completely with our clients’ interests, ensuring that any advice given is both impartial and objective.

MATCO’s state-of-the-art computerisation system is second to none and ensures a proficient outcome for clients and their businesses. We place a strong emphasis on personal contact to ensure that the service we deliver is both individual and appropriate. We also understand the requirements of professional intermediaries, whether they be lawyers, financial advisers or tax specialists.

Through its combination of stature and tradition, together with a contemporary view of clients’ requirements, MATCO has developed a strong and credible reputation. We build mutual trust and confidence with our clients through listening and understanding their needs.

This is the core of everything we do.

ABOUT MAURITIUS

THE Jurisdiction

Mauritius has established itself as a credible, safe and well-managed jurisdiction for the conduct of cross-border business and investment. It has consistently embraced the highest standards of international best and sound regulatory practices to be amongst the most open and competitive tax economies in the world. Mauritius is compliant with all OECD norms, including the Global Forum on Transparency and Exchange of Information for Tax Purposes, the Base Erosion and Profit Shifting project and the Common Reporting Standard. Mauritius is also a member of the Eastern and Southern Africa Anti-Money Laundering Group to implement the Financial Action Task Force’s (FATF) recommendations.

The Mauritian economy’s impressive progress hinges on a sound and transparent legal framework. The competitive tax regime and an efficient regulatory environment have also encouraged broad-based and diversified economic development.Strategically located in the Indian Ocean at the crossroads of international investments, Mauritius has forged a strong reputation and continues to strive as a premier international financial centre.

Business
and economic
benefits

  • Strategic location in the Indian Ocean, termed as “The Golden Triangle” linking Middle East, Asia and Africa
  • Preferred jurisdiction for investments in fast-growing and emerging economies in Africa and Asia
  • High bandwidth connectivity with Europe, South-East Asia and Africa
  • A world-class port with deep quays and a modern international airport and an airport city entertaining high value cargo
  • State-of-the-art infrastructure and a well-developed network of internal and external communications through SAFE and the LION international sub-marine fibre optic network passing through Mauritius
  • Home to a well-educated and skilled population, consisting of descendants of immigrants from India, Africa, Europe and China. Estimated at 1.2 million, most people in Mauritius are bilingual and are equally fluent in English and French

Global
recognition

  • World Bank Overall Ease of Doing Business 2020: ranks 1st in Africa and 13th worldwide out of 190 countries
  • Index of Economic Freedom 2018: ranks 1st in Sub-Saharan Africa and 25th worldwide out of 180 countries
  • Mo Ibrahim Index of African Governance 2019: ranks 1st out of 54 African countries
  • Global Competitiveness Index 2019: ranks 1st in Africa and 54th worldwide out of 140 countries
  • Forbes Survey of Best Countries for Business 2019: ranks 1st in Africa and 39th out of 161 countries
  • Member of the economic free trade organisations: Southern African Development Community (SADC), the Indian Ocean Rim Association for Regional Cooperation (IOR-ARC) and the Common Market for Eastern and Southern Africa (COMESA)
  • Member of the African Union (AU), the Africa, Caribbean and Pacific Group of States (ACP), the Indian Ocean Commission (IOC) and the Commonwealth
  • Significant cultural links with Africa, India, China, France and the United Kingdom
  • Preferential trade links with USA, Europe, India and Africa
  • Membership to the International Court of Justice, International Centre for Settlements of Investments Disputes and Multilateral Investment Guarantee Agency

Political and
legal stability

  • Stable democratic political system and sustained economic growth
  • Sovereign and independent state
  • Market-driven economy which encourages free enterprise and foreign investment
  • Sound legal system based on both English and French laws. The highest court of appeal is the Privy Council in the United Kingdom
  • First-class banking network and internationally recognised stock exchange open to foreign investors
  • Modern legislation in line with other financial centres (anti-money laundering and terrorist funding legislation)
  • Investment Promotion and Protection Agreements with a number of its tax treaty partners


Fiscal
benefits

  • Harmonised tax system – 15% tax rate is applied across board (individual, corporate and VAT)
  • Fiscal incentives are available, subject to specific conditions being met, e.g. partial exemption of 80% to the relevant income of a company and tax holidays on income derived from certain activities
  • No capital gains tax
  • No foreign exchange control
  • No withholding tax on dividends and interest paid
  • No estate duty, inheritance, wealth or gift tax
  • Tax holiday incentives to promote key and/or emerging sectors of the economy
  • Extensive network of Double Taxation Avoidance Agreements (DTAAs) and Investment Promotion and Protection Agreements (IPPAs)

Regulatory and tax aspects in Mauritius

Mauritius is constantly innovating to keep at pace and maintain its competitive edge. With new legislation and regulations, Mauritius has expanded the scope and depth of services that it offers, which has resulted in a financial services industry that has quickly matured, with international banking institutions, insurance companies, investment companies, venture capital companies, fund managers, money changers and leasing companies establishing their presence in Mauritius.

During the last decade, the Financial Services Commission, which is the integrated regulator for non-banking financial institutions and global business, has issued a number of regulations, rules and guidelines and a new licensing framework to reinforce its business-friendly approach to regulation by streamlining the licensing process within a well-defined and consolidated framework.

 


Exchange of
information

Mauritius also practises a policy of transparency and exchange of information and has always promoted a model for its jurisdiction based on substance. Mauritius is the first African country to have signed to the Intergovernmental Agreement with the United States for the implementation of the Foreign Accounts Tax Compliance Act (FATCA). It is also a member of the Early Adopters Group committed to the early implementation of the Common Reporting Standard (CRS) on the automatic exchange of financial account information developed by the Organization for Economic Cooperation and Development (OECD).
Mauritius has joined the Inclusive Framework to implement the recommendations on Base Erosion and Profit Shifting (BEPS) set out by the OECD and has also implemented the new initiative on exchange of beneficial ownership information.


Taxation
framework

Mauritius has adopted a friendly and homogenized system of taxation. The fiscal regime is underpinned by a transparent system, which provides a level playing field and a competitive tax bracket for businesses and individuals.
In order to enhance its transparency and collaboration framework, the country has signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters, developed by the OECD. Moreover, the OECD Global Forum on Transparency and Exchange of Information for Tax Purposes has rated Mauritius as a ‘Largely Compliant’ jurisdiction – a rating which equals that obtained by developed economies such as the United States of America, the United Kingdom and Germany.
It also remains an active member of the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG), the purpose of which is to combat money laundering in Eastern and Southern Africa by implementing the FATF recommendations.


Double Taxation Agreements

Mauritius has concluded over 40 tax treaties and additional treaties are under negotiation.

Network of Double Taxation
Avoidance Agreements (DTAAs)

To date, Mauritius has concluded 43 tax treaties with developed and emerging economies worldwide. It offers a wide range of fiscal benefits and enables efficient tax planning. The island nation is an ideal jurisdiction for global business.

Treaties signed: Australia, Barbados, Belgium, Botswana, Cabo Verde, Congo, Croatia, Cyprus, Egypt, France, Germany, Ghana, Guernsey, India, Italy, Jersey, Kuwait, Lesotho, Luxembourg, Madagascar, Malaysia, Malta, Monaco, Mozambique, Namibia, Nepal, Oman, Pakistan, People’s Republic of Bangladesh, People’s Republic of China, Rwanda, Seychelles, Singapore, Sri Lanka, South Africa, State of Qatar, Swaziland, Sweden, Thailand, Tunisia, Uganda, United Arab Emirates, United Kingdom, Zimbabwe.

6 treaties await ratification: Gabon, Comoros Islands, Kenya, Morocco, Nigeria and Russia

6 treaties await signature: Côte d’Ivoire, Estonia, Gibraltar, Malawi, Gambia and The Republic of Anola

21 treaties being negotiated: Algeria, Burkina Faso, Canada, Czech Republic, Greece, Hong Kong, Lesotho (New), Montenegro, North Sudan, Portugal, Republic of Iran, Saudi Arabia, Senegal (New), Spain, St. Kitts & Nevis, Tanzania, Vietnam, Yemen, Zambia (new), Mali and Republic of Turkey (new)

Network of Investment Promotion
Protection Agreements (IPPAs)

Mauritius signed Investment Promotion and Protection Agreements (IPPAs) with a number of countries on the African continent. IPPAs are international bilateral agreements between countries that aim at protecting and promoting the interests of investors in the country where the investment is being made. Mauritius has established those agreements with the objective of protecting and encouraging investments made by Mauritian companies overseas.

Mauritius offers protection of foreign investments in key African nations through its network of IPPAs. The IPPAs also provide arrangements for settlement of disputes between investors and the contracting states.

IPPAs signed: Barbados, Belgium/Luxemburg Economic Union, Burundi, Czech Republic, Egypt, Finland, France, Germany, India, Indonesia, Kuwait, Madagascar, Mozambique, Pakistan, People’s Republic of China, Portugal, Republic of Congo, Republic of Korea, Romania, Senegal, Singapore, South Africa, Sweden, Switzerland, Tanzania, Turkey, United Kingdom and Northern Ireland

IPPAs awaiting ratification: Benin, Cameroon, Comoros, Côte d’Ivoire, Gabon, Ghana, Guinea Republic, Kenya, Mauritania, Nepal, Rwanda, Swaziland, Chad, Zimbabwe, Sao Tome and Principe, United Arab Emirates