Why US?
Crowe SG Ltd (formerly known as SG Financial Services Ltd) is one of Mauritius’ leading financial services providers since 1994. Our experienced team is passionate and solution-oriented individuals delivering to the highest standards.
Our services include:
- Tax Advisory services including International Tax Planning
- Company Corporate Services such as Incorporation, Administration, Nominees’ services, Registered office etc.
- Offshore fund structuring and administration
- IT Consulting services on Digital Security, Governance and Privacy.
- Legal Services on Corporate and Commercial Services
- Support services such as Bookkeeping, Accounting, and Secretarial services
- Expatriate services on immigration, residency permit, tax administration, and compliance
- Wealth Management services
- Family Office services
- Risk Management services
Through our following subsidiaries, we offer specialist services as follow:
Crowe Fairfield is a corporate trustee providing professional trusteeship services to high-net-worth clients for the purpose of setting up trusts for international asset, wealth, estate, and tax planning purposes.
Crowe SG Kapital is a fast-growing Emerging market and Frontier markets-focused investment boutique and financial advisory arm of Crowe Mauritius. The Company offers its core services to high-net-worth individuals, private companies, multinationals, and listed entities across the globe, with a focus on Emerging and Frontier markets.
We are trusted advisor helping our clients tackle their most important challenges and capture their greatest opportunities. We are composed of experienced, passionate, and solution-oriented team delivering to the highest standards.
We make decisions and act as if our personal reputations were at stake.
Why MAURITIUS?
Located in the southwest Indian Ocean, 900 kilometres east of Madagascar, and strategically positioned between Africa and Asia, the island is recognized as a well-regulated international financial centre over the past decade.
Competitive Advantage
- Attractive tax regime with Low tax rates (0% – 3%), no withholding tax (WHT) on remittance of branch profits/interest/dividends, and no Capital Gains Tax (CGT).
- No estate duty, inheritance or wealth taxes.
- No stamp duties, registration duties, and levies.
- Zero-rated Value-Added Tax (VAT) for global business transactions.
- Carry forward of losses limited to 5 years except for losses attributable to annual allowances.
- Royalties, interest, and service fees payable to foreign affiliates are allowable expenses provided they are reasonable and proportionate.
- Trusts can elect non-resident and tax-exempt in Mauritius.
- Trusts can hold Global Business Licence and avail of DTA benefits.
- Recognised International Financial Centre of Resilience, excellence, and Substance is on the OECD’s whitelist.
- Member of Regional Trading Blocs (SADC, COMESA, IOC, IOR) qualifies for benefits under AGOA and EPA for the US and EU markets respectively).
- Signed and ratified 45 Double Taxation Agreements (DTA).
- Full protection of foreign investments in key African nations through its network of Investment Promotion and Protection Agreements (IPPAs).
Budget 2024/25 Initiatives
The Minister of Finance, Economic Planning and Development presented the National Budget 2024-25 on 7 June 2024 under the theme ‘Tomorrow is ours’.
The focus remains, as previous years, for the financial services sector being the main contributor to the country’s growth of 4.4%.
Key Tax Measures:
- Extension of current Investment Tax Credit to now include Artificial intelligence and Patents related business at 15% over 3 years.
- To consolidate the Financial Services Sector as an attraction, Virtual Tokens are to be termed as “Securities” with certain “Tax benefits. Thus, aligning current Capital Gains Tax exemption through amendment of Securities definition to now encompass Virtual Assets and Virtual tokens. Hence such disposal gains/profits exempt.
- Extension of current Partial Exemption regime to include the following:
80% exemption applicable to a company holding a Robotic and Artificial Intelligence Enabled Advisory Services licence, provided satisfaction of substance requirements.
80% exemption available to a licensed closed-end fund now extended to income from sale of money market and debt instruments.
Payment Intermediary Services (PIS). License Holder will now benefit from Partial Exemption Regime.
- Amendment to previous provision in respect of the 8-year income tax holiday granted to a Captive Insurer will now begin from the date it has started its activities.
- Exemption to Coupons/Interest income derived from bond issued by a public sector company to finance infrastructure projects.
- Amendments to Occupational and Work Permits:
- Introduction of 10-year Expatriate Occupation Permit for attracting foreign talents in wealth managements, family office, virtual assets and virtual tokens.
- Introduction of Temporary Occupation Permit of 3 months for professionals to allow them to work pending final approval, provided minimum of 10 yeas’ experience.
- Current holders of Residence Permit under the Retired Non-Citizens scheme allowed to work without applying for additional permit.
- Quotas on foreign labour in manufacturing, jewellery, freeport and ICT/BPO now removed.
