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What are the review of Mauritius for moving for tax purpose as no tax if not remit here?
- Thread starter troubled soul
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An obvious pro is a relatively low flat tax of 15% which is the same for personal and company income. No obligatory social and health insurance levies.
two years ago I discussed this with local lawyer oriented to expats and their taxation
I was told that Mauritian tax residents are taxed on their world wide income and (in my case) non-existent DTT can easily result in double taxation since they don't care about remittance at all
of course it's challenging for local tax man to find out what you earn aboard and where you're keeping it but it changes nothing about the fact that you're liable
I was also warned that my foreign company could be easily tax liable in Mauritius if I spend there some time as a tourist (6 months a year is maximum) and it can be proven that I was making business decisions during this time remotely
no guarantees, just sharing the knowledge i got
Yes, it seems only good for retired people over 50.An obvious pro is a relatively low flat tax of 15% which is the same for personal and company income. No obligatory social and health insurance levies.
two years ago I discussed this with local lawyer oriented to expats and their taxation
I was told that Mauritian tax residents are taxed on their world wide income and (in my case) non-existent DTT can easily result in double taxation since they don't care about remittance at all
of course it's challenging for local tax man to find out what you earn aboard and where you're keeping it but it changes nothing about the fact that you're liable
I was also warned that my foreign company could be easily tax liable in Mauritius if I spend there some time as a tourist (6 months a year is maximum) and it can be proven that I was making business decisions during this time remotely
no guarantees, just sharing the knowledge i got
CFC rules and some added tax for high income earners mean headache.
disagree many friends of mine moved there and i high probably will end there too.
If you have the right structur you pay max tax 15% or even zero if you are smart enough.
Food cost is high there compared to other destinations
Hard covid measures is a negative
however you can achieve citizenship of mauritius which is in my eyes a way way underrated one
and more important once you become tax resident you need only to stay 90 days a year or 180 days in two years to keep it.
If you have the right structur you pay max tax 15% or even zero if you are smart enough.
Food cost is high there compared to other destinations
Hard covid measures is a negative
however you can achieve citizenship of mauritius which is in my eyes a way way underrated one
and more important once you become tax resident you need only to stay 90 days a year or 180 days in two years to keep it.
ability to receive citizenship after 2 years
non dom
0-15% tax
passport to all important regions on the world
not considered a tax heaven
1 mio vs 100k citizens
hub to africa
strong ties to india.
better infrstructur
4 times as big as seychellles
security
Out of curiosity, are you from Europe?
The only people I know who moved to Mauritius or Seychelles are from South Africa and India. All Europeans seem to look no further than Dubai.
What about real estate? I could not find anything much interesting and prices are quite high. It seems that all the decent options are inside resorts.
it's worth noting that you can become tax resident immediately - it's allegedly enough to register yourself as a self-employed person in Mauritius - beware of very limited number of DTTs Maurities has signed with other countries though
another fun fact is that you become (involuntarily) a Mauritian tax resident by spending 270 days in last three years - in other words every year 90 days of regular tourist stay for three years... nice tourist trap that was there 3 years ago (not sure how about now though)
Seychelles are way way more expensive and way too small for permanent stay
there are several restriction regarding ownership of properties - you can google the rules easily - long story short a foreigner can own a house only in gated communities and locations approved by the government and you end up in a prison like area behind the wall and electric fence (for you own protection of course
)
exactly. and this at a 3x cost for getting something similar as locals.there are several restriction regarding ownership of properties - you can google the rules easily - long story short a foreigner can own a house only in gated communities and locations approved by the government and you end up in a prison like area behind the wall and electric fence (for you own protection of course
It is good then in the next lockdown they so eagerly followed you are already locked for your own protection.
Enough for me to rule out Mauritius as a possible place to livethere are several restriction regarding ownership of properties - you can google the rules easily - long story short a foreigner can own a house only in gated communities and locations approved by the government and you end up in a prison like area behind the wall and electric fence (for you own protection of course
no wonder... I'm pretty curious where you'll end up though - any short list of candidates to share?
About any (extended) Caribbean country from Bermuda to Aruba has its pros and cons.
I like the T&C, Antigua, the Grenadines and Grenada, each for different reasons.
yes europe.my friends moved from luxembourg to mauritius and you are right i would not buy any RE in mauritius.
2 years with investment
5 years without
your properties as a non citizen are limited correct even it changed a bit now but you are not limited in renting and security in mauritius is good which doesn't mean you can't live in a closed community if you wishthere are several restriction regarding ownership of properties - you can google the rules easily - long story short a foreigner can own a house only in gated communities and locations approved by the government and you end up in a prison like area behind the wall and electric fence (for you own protection of course
but as i said i'm not interrested in RE there.I'm interrested in tax residency,citizenship and renting.
Who would buy currently RE in overpriced regions when interest are going up.I prefer to invest somewhere else to have higher yield and be mobil
What is also important for me which JohnnyDoes location seems not to support is the fact that i will be also able to invest legaly in eastern/southeastern businesses which in my opinion will be key markets
africa/russia/southeast asia
With a mauritius passport for example you can travel nearly everywhere with no visa
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Why anyone would consider country to pay 15% income tax?
While there are options as Dubai
While there are options as Dubai
Because Dubai is an Islamic dictatorship in the desert, built by slaves, run by psychos, completely fake, with a horrible climate, a hub for money laundering, drug and arms trafficking.
https://www.mra.mu/index.php/individuals/foreign-income
"the resident individual will be subject to income tax in Mauritius on all his income derived in Mauritius or remitted to Mauritius."
Income taxes can be higher than 15% with the new Solidarity Levy in place:
https://www.mra.mu/index.php/individuals/solidarity-levy
"the resident individual will be subject to income tax in Mauritius on all his income derived in Mauritius or remitted to Mauritius."
Income taxes can be higher than 15% with the new Solidarity Levy in place:
https://www.mra.mu/index.php/individuals/solidarity-levy
exactly
sadly I can't see any considerable alternatives to Central/South America at the moment
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