Introduction of new investment vehicles and new products

1. Limited Liability Partnership
Mauritius has been constantly reviewing its legal and regulatory framework together with its business environment to be in line with market demands.  Considering the evolving business climate and in order to enhance our competitive edge, introduction of new laws such as the Limited Liability Partnership will provide new and innovative vehicles and facilitate business operations in Mauritius. 

2. Regional Treasury Centres and Regional Headquarters Administration
Another measure announced is to position Mauritius as the location for the setting up of Regional Treasury Centres (‘RTC’) and Regional Headquarters (‘RHQ’) Administration.  This will allow investors to use our jurisdiction as an investment platform and help to enhance our visibility on the international front.  Conditions for RHQ and RTC will entitle the entities to hold a Global Business Licence Category 1 and related benefits.

Other measures to sustain the reputatin of Mauritius as a sound and competitive jurisdiction

1. Non-treaty based funds
The creation of a regime for non treaty based funds will improve Mauritius’ competitiveness with other jurisdictions.

2. Enhancing Mauritius’ international repute
In line with international norms for more transparency and exchange of information, Mauritius recently has taken significant steps to enhance exchange of information in its regulatory framework. Mauritius and India have agreed to proceed quickly with the signature of a Tax Information Exchange Agreement to formalise the cooperation on tax information matters in place.
Tax Residency Certificates will be issued to Global Business Companies which comply with enhanced commercial substance requirements. 

3. Africa
Double Taxation Agreements have been signed this year with Nigeria, Kenya, and the Republic of Congo, and five more are planned for next year. 

Protection of Consumers

Compensation Fund in cases of 'hit and run'
This Fund will provide compensation for victims of road accidents where the offender has not been identified. So far victims of 'hit and run' cases or their dependents have been left without any compensation in the absence of appropriate compensatory mechanism.

In addition, the Bank of Mauritius will put a cap on bank charges whenever necessary to ensure that commercial banks treat their customers fairly.