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Hosted by National Computer Board. Investment abroad was focused mainly on developing countries, particularly in Africa, which received $78million. Eight treaties await ratification: Gabon, Comoros, Hong Kong, Kenya, Morocco, Nigeria, Russia and Angola. The Mauritian legal system is based on a unique mixture of traditions. The tribunal decided in favor of the Government of Mauritius in both cases. Trade licenses and many other bureaucratic hurdles have been reduced or abolished. Republic of Mauritius- Please enable scripts and reload this page. In March 2017, allegations surfaced concerning possible political interference in the Financial Services Commissions issuance of an investment banking license to Angolan billionaire Alvaro Sobrinho, who is being investigated for alleged corruption in Portugal. Since 2006, the GoM has reformed trade, investment, tariffs, and income tax regulations to simplify the framework for doing business. Free and fair national elections are held every five years with the last general elections held in November 2019. In 2018, the government introduced the SME Employment Scheme, which allows SMEs to employ recent graduates, whose monthly stipends are paid by the government for one year. Though still ranking first in overall governance in Africa over the past decade, according to the 2022 Ibrahim Index of African Governance, Mauritius obtained its lowest ever score in 2021. All rights reserved. Government in Mauritius - Commonwealth of Nations Countries with significant government-financed investment in Mauritius include India, China, France, Saudi Arabia, and Japan. Through its membership in COMESA, SADC, and the IOC, Mauritius offers preferential access to a market of over 600 million consumers, representing an import potential of $100 billion. Ministry of Local Government and Disaster Risk Management - Mauritius In July 2014, Mauritius notified its category A commitments to the WTO, and was among the first African countries to do so. Office of the Special Envoy for Critical and Emerging Technology, Office of the U.S. Please turn on JavaScript and try again. The Mauritius Freeport, a free trade zone, was established in 1992 and is a customs-free zone for goods destined for re-export. Mauritius is known for its natural beauty and scenic views. List of Ministries Communiqus of Ministries and Departments Prime Minister's Office Ministry of Defence, Home Affairs and External Communications; Ministry for Rodrigues, Outer Islands & Territorial Integrity Ministry Of Energy and Public Utilities Ministry of Education, Tertiary Education, Science and Technology Through the Fund, the government participates as an equity partner for up to 10 percent of the seed capital invested by Mauritian investors in projects targeted towards Africa. For example, its company law is practically identical to that of New Zealand. Top Link Bar. Declines in business and labor environment driven by deteriorating labor relations have also been noted. Due to the pandemic, trade volume increased to 261,519 metric tons in 2022 from 258,971 metric tons in 2021, and trade value increased to $801 million from $755 million during the same period. Upon completion of the registration process, the CBRD issues an electronic business registration card bearing a unique registration number and an e-certificate of incorporation. The objective of the project is toencourage public organizations to make their activities more environmentally friendly through the adoption of sustainable consumption practices with respect to energy and water conservation, waste minimization, paperless work, and adoption of sustainable technology and business practices to improve service delivery. Mauritius All-in-One Travel Digital Form. Effective March 2019, the Financial Services Commission (FSC) allows businesses that provide custodial services for digital assets. In recent years, according to industry experts, no banks have lost correspondent banking relationships, and none reported being in jeopardy of doing so as of April 2022. To protect your health, public health officers need you to complete this form whenever they suspect a communicable disease onboard a flight. In response to the COVID-19 crisis, the GoM relaxed investment terms and conditions for foreign investors in 2020. Mauritius does not have a dedicated center for research on corporate governance. Government Information Service - Mauritius PROTECTION FROM DOMESTIC VIOLENCE ACT (PDVA) To manage the inflationary pressures, the Bank of Mauritius (BoM) increased the key repo rate six times between March and December 2022 to 4.5 percent. The IBA Act can be accessed via http://www.iba.mu/legal.htm. Key Staff Mauritius Diplomatic Missions Overseas Organisational Structure Certifications Legislations Contact Us Mauritius PassportMenu Toggle Application Guide Application for New Passport Renewal of Passport Amending Data Of Present Passport Lost, Stolen or Damaged Passport Passport for Citizens Abroad The Law PermitsMenu Toggle Occupation Permit The NSIF is managed by a council consisting of members from the private and public sectors, civil society, and academia. Please enable scripts and reload this page. Office of the President (1) Police services (1) Postal Services (2) Roads/Traffic (1) SMEs (1) Taxation (8) Transport (2) Youth and Sports (1) By Ministry All Ministry of Agro-Industry and Food Security (8) Ministry of Arts and Culture (3) The government holds controlling shares in number of SOEs, including the State Bank of Mauritius, Air Mauritius (the national airline), and Mauritius Telecom. As of March 2023, the shares of 58 companies (local, global business, and foreign companies) were listed on the Official Market, representing a market capitalization of $6.8 billion. The 2018 Declaration of Assets Act (DoA) entered into force in June 2019 and defines which public officials are required to declare assets and liabilities to the ICAC. Mauritius Contents Summary Coronavirus Safety and security Terrorism Entry requirements Local laws and customs Health Natural disasters Money Travel advice help and support Get email alerts. In February 2023, a scam of over $550 million, allegedly committed by a counterparty of a bank in which the Mauritian government had placed some $65 million belonging to various public agencies and funds, raised questions about the efficacy of due diligence and control of ultimate beneficial owners (UBO) processes. This EPA, which Mauritius, Seychelles, and Zimbabwe signed in January 2019, was a continuity agreement based on the EU-ESA interim Economic Partnership Agreement (iEPA). In 2020, a Steering Committee on the Disposal of Non-Strategic Assets has been set up by -government to, amongst others, identify the assets of government to be disposed of and advise on the optimal disposal process in the best public interest. The latter includes the development of an online NDC registry, which will serve as a monitoring, reporting, and verification tool to track biodiversity and ecosystem services to implement Mauritius NDC. Headline inflation rose to 11.8 per cent in December 2022. Secretary for Home Affairs, Prime Minister's Office (Home Affairs,) 7th Floor, Government House, Port Louis, Mauritius. The minimum wage was further increased to 10,575 rupees ($246) in January 2022. Application for Equivalence and Recognition of Certificates. Applicants may, in such cases, be issued with a certificate of Mauritian citizenship, provided an application is made by way of a letter addressed to the Secretary for Home Affairs. The Government of Mauritius (GoM) claims an Exclusive Economic Zone (EEZ) of approximately 2.3 million square kilometers, but its undisputed EEZ amounts to approximately 1.3 million square kilometers, in addition to jointly managing about 388,000 square kilometers of continental shelf with Seychelles. Republic of Mauritius- Government TheMauritius Renminbi Clearing Centrebecame the third such center on the African continent, after South Africa and Zambia. Section 132 of the Act outlines the conditions under which a liquidator may be appointed for a foreign company and related procedures. The new automated system also incorporates a surveillance system for real-time surveillance of market activities and raising alerts in the incidence of market abuse or irregular trading practices. The application shall be subscribed in Mauritius in the presence of a Judge or the Master and Registrar of the Supreme Court or a District Magistrate. By comparison, in 2022, the Customs Department seized 72,134 pieces of counterfeit goods for a value of $201,000. The GoM notifies all draft technical regulations to the WTO Committee on Technical Barriers to Trade to the extent possible. Ownership of property is enforced with the registration of the title deed with the Registrar-General and payment of the registration duty. To this end, a Business Support Facility was established at the EDB in 2021. Professionals with an occupation permit and foreign retirees with a residence permit were able to invest in other ventures without any shareholding restrictions. Mauritius actively seeks foreign investment. The National Committee for Corporate Governance (NCCG) was established under Section 63 of the Financial Reporting Act (2004) and is the coordinating body responsible for all matters pertaining to corporate governance in Mauritius. The trade policy review is available at https://www.wto.org/english/tratop_e/tpr_e/s417_e.pdf . Before COVID-19, authorities planned to stimulate economic growth in five areas: serving as a gateway for investment into Africa; increasing the use of renewable energy; developing smart cities; growing the blue economy; and modernizing infrastructure, especially public transportation, the port, and the airport. Companies in Mauritius are regulated by the Companies Act of 2001, which incorporates international best practices and promotes accountability, openness, and fairness. The GoM initially announced its emissions reduction target in November 2021 at COP 26 through the presentation of its updated Nationally Determined Contributions (NDC). Nonetheless, he ran several businesses in Mauritius, some of them on government-leased land. As of June 2022, 19 banks were licensed to undertake banking business, of which six were local banks, ten were foreign-owned subsidiaries, and three were branches of foreign banks. PRIME MINISTER'S OFFICE - Mauritius To coordinate efforts to implement the TFA, in 2015 Mauritius set up a National Committee on Trade Facilitation co-chaired by representatives from government and the private sector. In January 2021, the free-trade agreement between China and Mauritius (the first free-trade agreement between China and an African country) took effect. Funds associated with any form of investment can be freely converted into any world currency. REGISTRATION OF FOREIGN SPOUSES OF MAURITIAN CITIZENS. Online Resources - Mauritius The committee meets twice a year and discussion topics include identification of the TFA, policy recommendations of trade facilitation, dissemination of information on trade facilitation, and addressing the bottlenecks to trade due to the COVID-19 pandemic. The next public holiday will be on the. Republic of Mauritius- Departments Audited accounts of SOEs are published in their annual reports. It provides that certain key officials of the public sector, including chief executives of state-owned enterprises, must declare their assets and liabilities with the Independent Commission Against Corruption (ICAC). Government labor market programs aimed at building human capital have been extended, with policies to develop skills of the unemployed focusing on apprenticeships and placements. It is further characterized by a persistent mismatch between qualifications of the unemployed and the skills required in an increasingly services-oriented economy, with operators in several sectors including financial services, ICT-BPO, tourism, manufacturing, agriculture, reporting challenges in recruiting labor. There were no special procedures that foreign creditors must comply with when submitting claims in insolvency proceedings. Any party dissatisfied with an order or direction of the commission may appeal to the Supreme Court within 21 days. Government Printing Department Our mission is to contribute to the promotion of educational democracy and welfare of the country by providing effective and efficient printing services and timely dissemination of information. NATURALIZATION OF AN ALIEN OR BRITISH PROTECTED PERSON. The Competition Commission also conducts market studies and has completed five of the eight market studies launched so far. APPLICATION FOR A CERTIFICATE OF CITIZENSHIP, Mauritius National Identity Card for Eligible Mauritians Born Abroad, Download Application Form for Registration of Commonwealth Citizen, Download Application for registration as a citizen of Mauritius for minor children, Download Application for registration of Foreign Spouses of Mauritius citizens, Download Application by an Alien or British Protected Person for a Certificate of Naturalization, Download Application for a Certificate of Naturalization, Download Application for the resumption of the citizenship of Mauritius under section 14(2), Download >> Factsheet For Resumption Of Mauritian Citizenship For People Ordinarily Resident In Mauritius, Download Application for the resumption of the citizenship of Mauritius under section 15(2). The Committee has recommended the disposal of governments shareholdings in some public companies, including the Casinos, the MauBank Ltd, and the National Insurance Company Ltd. The NCCG was attached to the Ministry of Financial Services and Good Governance until 2021, when it was recognized as a corporate body following an amendment to the Financial Reporting Act. The governments objective is to promote the country as a regional warehousing, distribution, marketing, and logistics center for eastern and southern Africa and the Indian Ocean rim. 2023 Investment Climate Statements: Mauritius, An official website of the United States Government, http://www.transparency.org/research/cpi/overview, https://www.globalinnovationindex.org/analysis-indicator, https://apps.bea.gov/international/factsheet, http://data.worldbank.org/indicator/NY.GNP.PCAP.CD, https://www.stockexchangeofmauritius.com/media/2124/securities-investment-by-foreign-investors-rules-2013.pdf, https://unctad.org/system/files/official-document/gdsinf2020d5_en.pdf, https://unctad.org/publication/catalogue-diversification-opportunities-2022, https://www.wto.org/english/tratop_e/tpr_e/s417_e.pdf, https://business-support-portal.edbmauritius.org/, https://www.edbmauritius.org/info-centre/ippa, https://www.mra.mu/index.php/taxes-duties/international-taxation/double-taxation-agreements, https://www.bom.mu/financial-stability/supervision/licensees/list-of-licensees, https://www.icac.mu/declaration-of-assets/, https://www.icac.mu/declaration-of-assets/disclosure-of-declarations/, Table 2: Key Macroeconomic Data, U.S. FDI in Host Country/Economy, Host Country Gross Domestic Product (GDP) ($M USD), U.S. FDI in partner country ($M USD, stock positions), https://apps.bea.gov/international/factsheet/, Host countrys FDI in the United States ($M USD, stock positions). For instance, a long-running commercial dispute between a U.S. investor and a parastatal partner that turned into a criminal investigation has raised questions of governmental impartiality, though charges were dropped in January 2023 and the investor left the country. A person becomes a citizen of Mauritius either by birth or by descent, October 1995, of either Mauritian or foreign parents, (ii) A person is a citizen of Mauritius if he is born in Mauritius after 1, A person born outside Mauritius is a citizen of Mauritius under section 20(3) and 23 of the Constitution if either of his parents is a citizen of Mauritius. Mauritius DPA applies only when processing of personal data is concerned. A former prime minister was arrested in 2015 on allegations of conspiracy and money laundering, though the court dismissed the charges in 2019. In April 2022, the central bank injected $200 million into the financial system, the largest single intervention in its history. Public telephone booths can be found at the airport and larger hotels. {{pinnednewsitem.EventDate | date:'dd MMM yyyy'}}, {{eventitem.CommuniqueDate | date:'MMM'}}, To promote a smarter agriculture land use, preserve by biodiversity, To showcase the importance of culture in the lives of the population, The development of a diversified business and industry sector in Mauritius, An innovation-led industrial sector, a conducive commercial environment and an effective protection of consumers, The emergence of digital technologies has improved the quality of life of citizens, Education is recognised nation-wide as the primary driver of change and innovation, To ensure energy and water security, safe disposal of waste water and peaceful use of nuclear technology, To protect human health as well as safeguard marine lives so as to preserve the biodiversity of the country for future generations, Mauritius has also come a long way in realizing the importance of womens contribution. While the Executive Director has power to investigate restrictive business practices (the Investigative Arm), the commissioners determine the cases (the Adjudicative Arm) on the basis of reports from the Executive Director. Further details can be accessed on the following link: https://www.stockexchangeofmauritius.com/media/2124/securities-investment-by-foreign-investors-rules-2013.pdf . In 2022, UNCTAD published its Catalogue for Diversification Opportunities for 233 economies inclusive of a fact sheet in Mauritius which can be consulted here: https://unctad.org/publication/catalogue-diversification-opportunities-2022. Real GDP grew at an average of 4.7 percent from 1968 to 2017, enabling the country to achieve middle-income status in less than 50 years. Visit the island of Mauritius - official Mauritius tourism website Explore Mauritius Experiences About Mauritius Families Couples Cultural Top 10 See More Explore The North West South West The South & South-East See More Plan Your Trip Your Visa How to get around Best Time to Visit Climate Useful Tips See More Articles In 2022, the U.S. Embassy in Port Louis did not receive negative comments from U.S. businesses regarding the fairness of the governments investment screening mechanisms. In 2021, the NCCG also launched a Corporate Governance Scorecard to introduce an objective and quantitative element for companies to report on compliance. Mauritius is highly vulnerable to climate change and its impacts on socio-economic development. Every encounter is an opportunity to discover a friendly face. The solidarity g Seminar on the presentation of findings of research on Long-Term Holistic Accompaniment of Families Living in Poverty Mauritius, organised by the Mauritius Research and Innovation Council. Jugnauth won reelection in 2019. The government has signed agreements with Senegal, Madagascar, Ivory Coast and Ghana to establish and manage Special Economic Zones (SEZ) in these countries. In practice, police will usually take action against IP infringements only in cases where the IP owner has an official representative in Mauritius, as the courts require a representative to testify that the products seized are counterfeit. The treaties currently in force are: Australia (Partial), Barbados, Belgium, Botswana, Cape Verde, Congo, Croatia, Cyprus, Egypt, Estonia, France, Germany, Ghana, Guernsey, India, Italy, Jersey, Kuwait, Lesotho, Luxembourg, Madagascar, Malaysia, Malta, Monaco, Mozambique, Namibia, Nepal, Oman, Pakistan, Bangladesh, China, Rwanda, Seychelles, Singapore, Sri Lanka, South Africa, Qatar, Eswatini, Sweden, Thailand, Tunisia, Uganda, United Arab Emirates, United Kingdom, and Zimbabwe. The Data Protection Commissioner is responsible for upholding the rights of individuals set forth in the DPA and for enforcing the obligations imposed on data controllers and processors. 2 of 10. Foreign investors may apply through the EDB for necessary permits; alternately, investors may apply directly to the relevant authorities. The government introduced a law in the past, but it did not get the three-quarter majority of votes that was required. Relevant information as well as the required documents to be submitted on application for the Residence Permit are available on the website o f the Passp ort and Immigration Office. In December 2021, the FSC published the FSC Guidelines to set out the legal and supervisory framework surrounding the issuance of Corporate and Green Bonds. 1,4 million ($31,000) to five producers/suppliers of deer and venison, both for the breach of provisions against collusive agreements. Under section 6 of the Mauritius Citizenship Act, a minor child of a citizen of Mauritius, may be registered as a citizen of Mauritius, provided an application is submitted to the Secretary for Home Affairs in the form set out below. The residential unit can be leased or rented out by the owner. CSU is an online service which allows citizens to directly transmit their requests, share their concerns and ideas with Ministries, departments, parastatals and local authorities through Citizen's Advice Bureaus. It is mandated to safeguard competition by preventing and remedying anticompetitive business practices in Mauritius. The investor finally left the country in January 2023 after all charges against him were dropped. Please enable scripts and reload this page. In 2021, the GoM also introduced the premium investor certificate, which allows companies investing at least $11 million, as well as companies involved in the manufacture of pharmaceuticals and medical devices, to benefit from incentives. In November 2021, at the Conference of Parties 26 (COP 26), the GoM pledged to reduce its greenhouse gas emissions to 40 percent by 2030. Mauritius participates actively in the annual International Labor Organization (ILO) conference in Geneva, Switzerland, and adheres to ILO core conventions protecting workers rights. The last major strike affecting the economy took place in 1979. Generally, the conditions include a minimum investment amount, number of rooms (for touristic accommodations), a maximum equity participation, and environmental protection conditions depending on the business activity. In March 2019, the National Electronic Licensing System (NELS), which is co-financed by the European Union, was officially launched. (2), Ministry of Technology, Communication and Innovation Please turn on JavaScript and try again. The agreement gives individuals the right to protection of their personal data. Application for registration under section 14(2) of the Mauritius Citizenship Act shall be accompanied by a declaration of renunciation in the form set out below to the effect that applicant renounces any citizenship which he may possess. A variety of new asset classes of securities such as global funds, depositary receipts, mineral companies, and specialist securities including exchange-traded funds and structured products have also been introduced on the SEM. For more information, see https://business-support-portal.edbmauritius.org/. The Constitution includes a guarantee against nationalization. The government is also the owner of Maubank and the National Insurance Company. Resumption of Mauritian citizenship for persons who are not ordinarily resident in Mauritius. The 1969 Investment Disputes (Enforcement of Awards) Act is the domestic legislation providing for enforcement of disputes under the Washington Convention. The objective is to develop technical expertise and specialization, and likewise boost the skills base for attracting FDI. The required contribution increased in 2019 to 75 percent for CSR funds set up on or after January 1, 2019. In 2002, the government adopted the Prevention of Corruption Act, which led to the establishment of an Independent Commission Against Corruption (ICAC). The Embassy is unaware of any proposed changes by the government to its investment remittance policies. Key changes introduced by the Amendment Act include the establishment of additional securities exchanges alongside the existing Stock Exchange of Mauritius Ltd; the establishment of novel clearing and settlement facilities in addition to the Central Depository and Settlement Co. Ltd (CDS); the introduction of a new concept of retail investors, being investors, other than sophisticated investors, and thereby recognizing foreign funds whose securities are marketed to retail investors in or from Mauritius; and dispensing with the need for foreign reporting issuers to be registered with the Financial Services Commission. LCIA-MIAC offered all services offered by the LCIA in the United Kingdom. In January 2023, the central bank announced the introduction of a new monetary policy framework to enhance the monetary policy transmission mechanism and strengthen the effectiveness of the monetary policy. The EDB has a customer service unit that receives investor suggestions and complaints, and it organizes workshops, investment promotion missions and roundtable sessions to inform investors about changes in investment policies. These activities include operating touristic accommodations, pleasure crafts and rental agencies. Business Mauritius, the coordinating body of the Mauritian private sector, participates in discussions with and presents papers to government authorities on laws and regulations affecting the private sector. Mauritius has adopted the OECDs Standard for Automatic Exchange of Financial Account Information (Common Reporting Standard CRS), which sets a global benchmark that participating countries will adhere to in a proactive fiscal-information world. For cross-border insolvency proceedings, under the applicable regime, a foreign insolvency practitioner can apply to the Mauritian Court to obtain recognition of an insolvency process being undertaken abroad provided that the State of the insolvency practitioner has adopted insolvency rules substantially similar to the UNCITRAL Model Law on Cross-Border Insolvency. (1), Ministry of Foreign Affairs, Regional Integration and International Trade AfCFTA took effect in January 2021 among countries having submitted their market access offers and ratified the Agreement. Allegations of corruption and misallocation of government contracts by public entities occurred in 2020, namely the use of emergency procurement procedures during the pandemic to allegedly enrich friends and family of those in power. Other foreign banks present in Mauritius include HSBC, Barclays Bank, Bank of Baroda, Habib Bank, BCP Bank (Mauritius), Standard Bank, Standard Chartered Bank, State Bank of India, and Investec Bank. Under the 2016 Finance Act, every company registered in Mauritius must set up a CSR fund and annually contribute the equivalent of 2 percent of its taxable income from of the previous year. SOEs operate in accordance with commercial considerations for most goods and services. In November 2022 at the Conference of Parties 27 (COP 27), the GoM pledged to reduce its greenhouse gas emissions to 40 percent by 2030 and supported the creation of a funding mechanism to address losses and damages from climate change. On December 3, 2020, the EU and the Organization of African, Caribbean and Pacific States (OACPS) reached a new agreement that succeeded the Cotonou Partnership Agreement. (1), Public and Disciplined Forces Service Commissions The main reforms brought about by this legislation were expediting trade fee payments, reviewing procedures for construction permits, reviewing fire safety compliance requirements, streamlining of business licenses, and implementing numerous trade facilitation measures. In 2018, the United Nations Conference on Trade and Development (UNCTAD) published its 2017 Report on the Implementation of the Investment Policy Review (IPR) for Mauritius. The GoM recognizes the importance of a good business environment to attract investment and achieve a higher growth rate. With a well-developed legal and commercial infrastructure and a tradition that combines entrepreneurship and representative democracy, Mauritius is one of Africas most successful economies.