LIVE IN MAURITIUS

Mauritius, your own corner of paradise

Named after the Dutch prince Maurice van Nassau, Mauritius has an area of 1,865 km² and measures at its largest points 65 km long and 45 km wide. Its population is a little over 1.3 million and its capital Port Louis. A republic since 1992, Mauritius is the most prosperous of the Indian Ocean islands and the countries of the African continent. One of its secrets is top-range tourism, respectful of the environment.

Known as the star and key of the Indian Ocean, Mauritius has achieved a remarkably successful economic performance, moving from the status of developing country to that of a newly industrialised country. It has brought about significant structural changes over the past thirty years in order to adapt to the conditions of a modern economy. Originally an agricultural economy relying solely on sugar cane cultivation, the country set out to diversify its economy by developing sectors such as textiles, tourism and financial services. As a result of the economic stability thus achieved, the island has become a hub for the African and Asian regions.

In 2010 Joseph Stiglitz, the Nobel laureate in Economics, highlighted the way the country faced up to the world financial crisis, describing it as a “Mauritian miracle”. In 2018 the growth rate of the Mauritian economy was 4%. The banking sector is particularly well developed with 21, of which 5 local banks, 10 foreign-owned subsidiaries, 1 is a joint venture, 4 are branches of foreign banks and 1 is licensed as a private bank. Two local banks, the Mauritius Commercial Bank and the State Bank of Mauritius, dominate the market but subsidiaries of the big international banks such as Barclays Bank, the HSBC, the Standard Chartered Bank and the Deutsche Bank are also present. Mauritius also has a stock exchange, the Stock Exchange of Mauritius (SEM).

To reshape its economy and prepare for the future, the Mauritian government intends to attract a maximum of foreign investment to the country. The country has a lot to offer to foreign investors:

• A favourable tax system
• Thriving banking and offshore centres
• An emerging country with advanced IT and telecommunication facilities
• A minimal time-zone difference from the main European capitals
   

With a stable political system, an economy with positive growth for over 25 years and a strategic geographical position at the heart of the Indian Ocean, Mauritius has become a privileged destination for foreign investors, but also, since the implementation of schemes such as the Integrated Resort Scheme (IRS) and Smart City, a favorite place for well-to-do foreign owners seeking an exclusive lifestyle.

Mauritius takes pride in being one of the rare multicultural countries with an exemplary climate of social harmony.

Independent since 1968, the country respects freedom of expression and religion, among others, and remains a safe destination. It is also the most prosperous country of the Indian Ocean and among the most flourishing in Africa. Its institutions are modelled on the British (Westminster) parliamentary system with a government elected every five years and headed by a prime minister.

In recent years it has fine-tuned its legislative framework so as to boost economic development within the country but also to open it up to the rest of the world.

An anti-money laundering law has been put in place to favour economic development while at the same time guaranteeing observance of the rules of transparency, good governance and ethical standards. The legal framework concerning economic development is a combination of British law and the French Code Napoléon.

A land of contrasts and of a thousand and one smiles, the country draws its special charm from its culturally diverse, peaceful society which often receives international acclaim.

Mauritian of European, African, Indian and Chinese origin live in harmony on this island, practicing as main religions Christianity, Hinduism, Islam and Buddhism.

Independent since 1968, Mauritius is a democratic country where human rights are entrenched in the constitution.

So much more than an island with idyllically beautiful beaches, Mauritius offers a range of activities, including:

• A wide selection of restaurants
• An array of retail shopping centres with leading local and global brands
• Plenty of watersports
• A variety of outdoors activities
• A diversity of sights, landmarks and museums
• No fewer than 12 golf courses
• A rich cultural events calendar