How To Start Business In Mauritius – This article will explore the guidelines on how to start a business in Mauritius. Mauritius is one of the most developed countries in Africa. It boasts a mountainous interior that includes tourist destinations such as beaches, Black River Gorges National Park, spectacular waterfalls and many other attractions.
In addition to its natural resources, Mauritius has gained a reputation for international business. It is accredited and recommended by global financial agencies; The Organization for Economic Co-operation and Development (OCED), the Financial Action Task Force (FATF) and the World Bank (WB) have attributed real contributions to economic growth averaging 5% over the past two decades.
How To Start Business In Mauritius
The Indian Ocean island nation encourages local and foreign entrepreneurs to do business. Although one cannot decide to start a business in Mauritius without following the correct protocol. The Department of Small and Medium Enterprise Development (SME) is authorized to issue such permits. From a business perspective,
How To Start A Business In Mauritius
“Due to the straightforward and efficient process, it takes a maximum of 3 days to set up a company in Mauritius” – 3 if you don’t want to do the work yourself.
An international corporate service provider specializing in providing a wide range of international legal and fiduciary, financial, legal and advisory services worldwide can help. Without further ado, let’s get straight to how to start a business in Mauritius.
Creating a business idea tops the list of how to start a business in Mauritius. Before starting a business, you create ideas about what the business will be, what it will look like, where it will be located, and many other things. Creating ideas is what makes a business unique. Without creating ideas, only imitation remains, which is mediocre for a visionary entrepreneur. Although if you have a business idea like yours in Mauritius, I recommend doing your research. You really don’t want to come off as a copy cat. There’s nothing wrong with doing the same kind of business, but it’s recommended that you add a unique flair by doing something ordinary in a special way. This will give you an edge over other businesses in your chosen industry.
Now that you have already created a business idea that will highlight your business, it is most important that you draw up a business roadmap. This road map is called a business plan. It covers all the business needs to be successful with the necessary capital and can be a guide when things get confusing. There are bound to be moments of confusion. Returning to your business plan will bring clarity and continuity to your business.
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You must decide what type of business you want to start in Mauritius. SMEDA recognizes 2 types of businesses; private and public business. It provides specific laws to guide your chosen business. Click here for more information.
Choosing the perfect location for your business is very important. The wrong location can bring your business to a standstill. Choosing a location for your business in Mauritius requires a good geographical knowledge of the country. Thanks to the Internet, quick and in-depth research is available at your fingertips. So if you can’t get around Mauritius, I recommend taking advantage of technology.
Of course, you don’t start a business just because you found the perfect location. In Mauritius, there are registration processes that your business must go through before it can be accredited. Don’t worry, unlike other African countries, the process of registering a business in Mauritius is not complicated. It only takes 4-5 steps. Read more by clicking here. Or if you need an agency to help you do this, you can visit Antrix.
Mauritius has an authority to regulate business. You should register with them to get easy guidance on other technical issues like taxes and land use permits. Click here for more information
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Now your business is ready to start. Financial disbursement is the next step. It takes money to set up your business in the location you find. You need money for a lot of things to run a business. You need financial expenses to promote your business and pay for advertising. Starting a business anywhere as a foreigner can be stressful, especially if you don’t know which channels to go through. However, if you know the right procedures and guidelines to follow, it should be a breeze.
If you are wondering how to start a business in Mauritius as a foreigner, look no further. Below are the basic steps you need to take to successfully start your own business.
To start your own business, the first thing you do is create an idea. Often people have the necessary capital to start a business, but they don’t know what kind of business they want to start. So find the right idea before moving on.
However, if you find that you can’t quite come up with an idea, that’s not the end of it. Lucky for you, there is an organization called SMEDA that helps clueless investors. They will provide you with a list of business ideas to help you develop your own business idea.
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The next step is to develop a business plan. Your plan should include the small details of how you will run your business. The plan can go as far as attracting potential investors. Also, it will give relevant organizations an idea of what to expect from your business.
The business plan should include your financial structure, number of directors, management structure, shareholders, type of business, target market, products, services and related information. The SMEDA website mentioned earlier provides various business plan formats that you can use.
Before proceeding with the process, it is very important to determine the type of business you want to start. There are various businesses such as; as private limited, sole trader or joint venture. Remember that not all types of business are allowed in Mauritius. Therefore, the type of business you want to start, it is best to follow the Mauritius business regulations. This will help you avoid pit stops on the way to starting your own business.
As a Mauritian expatriate considering starting his own business, choosing the ideal location is an important part of the process, especially as there are not many places to choose from. The location of your operational office is important as it is the focal point for all your operations.
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Keep in mind whether your business is looking to rent an apartment, rent a building, or rent a virtual office. Also, your product, service and target market should guide you in choosing the best location for your business.
When considering how to start a business in Mauritius as a foreigner, remember that registering your investment is the most important step in Mauritius and around the world. Never choose to start a business first and then to register it can cause a lot of trouble with the authorities later.
Registering your business is not a complicated task, you just need to follow a few simple steps. Fortunately for you, the registration process can be done online or by submitting the required information to the AAN Registry.
You will also have to pay a number of fees based on the total workforce of your business. Fees vary as follows.
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In addition, if you are a foreign national looking to start a business, you may need to meet certain requirements for foreign nationals.
After the registration process is completed, the Business and Enterprise Registration Department will issue you an e-business registration card. You can get a physical copy from the City Council’s main office.
Any business needs an office or base of operations. To use any land, building or space for business purposes, a license is required from the Mauritius Government Business Licensing Platform. You can get permission from the county council or city planning department.
After notifying the relevant authorities, officials will be dispatched to inspect the space and confirm its occupancy. Relevant agencies include local police departments, fire departments, and other government agencies. After complete cleaning, you will be able to start your activity.
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Finally, you will need to pay the required business trade fees. You can pay online at the CBRD counter. The merchant fee is paid after the business is fully registered
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