We work with a large variety of clients from around the globe, from Family Offices, large Funds and Global corporates to individuals and Fintech Startups. Many are on their way into emerging economies such as Africa, whilst others are set up in Africa and are looking to relocate away or mitigate risk, minimise exchange controls, and be tax-efficient. There are however some key similarities with all our clients, mainly that we focus on providing a responsive and transparent service, only introducing the best providers when relevant, and keeping cost to the client to a minimum.
1 – Understanding the Business
There is a tendency in Mauritius to quote small to get a client interested and it is only later that the client realises that they need something else, or that there are many charges that were not anticipated or explained. We tend to start the dialogue via email and then when we reach a certain stage, we like to speak, whether on the phone, skype, WhatsApp or whatever is convenient. This gives us a chance to really understand the business and the client, allowing us to provide an appropriate and costs-effective solution. It also allows the client to speak with us. Particularly with setting up a business in Mauritius, there are a number of different types of companies, as well as many Business licences in Mauritius, especially when it comes to the Financial Services Industry.
2 – Initial Quotation and Structure
We will always endeavor to provide a full and through quote, so that the client can see the full picture of the costs involved and what is needed, whether it is for the formation of a Mauritian company, getting a Fintech or a regular financial licence, or for relocation and the purchase of Mauritian real estate. Transparency is key, as many of our clients come from referrals, and our reputation and content clients are integral in this.
3 – Legal and Regulatory
We almost always suggest that legal advice is sought, especially where there are multiple jurisdictions and tax liabilities involved. We can arrange local lawyers to provide opinions for Mauritian purposes, but the client should also seek advice in their home jurisdiction.
4 – Moving forward
By the time the client is looking to move forward with setting up their business in Mauritius, or getting a residence permit to move here, they are aware of the costs of the different options, the timeframes to achieve them, and they would have, if necessary, sought independent advice. Setting up companies can take a few days but certain licences can take several months. The client will work with TBI and it’s network of service providers it introduces to deal with the Regulatory authorities such as the Financial Services Commission, Economic Development Board and the Bank of Mauritius.
If there is anything you would like to find out more about the jurisdiction, about the types of Mauritian company and which is most appropriate for your business, or looking to invest in Mauritius or Africa and want a trustworthy partner on the ground, or you are thinking of bringing your family out here, please feel free to get in contact and we can see what we can do to help.