MAURITIUS THE RIGHT LOCATION TO BRIDGE THE GAP

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WELCOME TO OUR OFFSHORE GUIDE

CONTENTS

3 Our values4 The right strategy5 The Offshore solution6 We grow your business7 Reputation of Mauritian offshore8 Outsourcing companies9 Investment holding companies10 Trading companies11 Royalty companies12 Asset protection companies13 Working, living and retiring in Mauritius18 Reduced tax on trading 19 Add-on financial services20 The ABC of offshore23 Contact information

Our values show our true colours,

WE CARE FOR OUR CLIENTS.

RESPONSIVENESS

We readily react to the needs of clients with accurate solutions.

INTEGRITY

We safeguard confidential information of the clients.

EXCELLENCE

We commit to delivering, and sustaining, an outstanding level of service in everything we do for our clients, as well as in our interactions with our associates.

TRANSPARENCY

We commit to comply with the law, fighting money laundering and corruption.

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Mauritius, the right location to bridge the gap,

WE HAVE THE RIGHT STRATEGY.

STRATEGIC LOCATION

Mauritius is a strategic Global Business centre situated in the Indian Ocean region about 1,200 km off the African coast, to the east of the island of Madagascar.

STRATEGIC TIME ZONES

Mauritius is located in a convenient time zone allowing for the conduct of business in the Far East in the morning, Europe during the early afternoon and the USA, later in the day. It remains one of the fastest growing international financial centre.

STRATEGIC INFRASTRUCTURE

Well regulated legislative framework, highly skilled professional, international standard banking sector and the continuous expansion of the double taxation treaty network have led to the success of the Mauritian global business sector.

WORLD RECOGNITION

It offers an open and financially sound economy and the success of its economy is largely a result of its political and socio-economic stability. The country’s adoption of international best business practices is acknowledged by international organizations such as the Organisation for Economic Cooperation and Development (OECD), the Financial Action Task Force (FATF) and the World Bank (WB).

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Uncertain political climate means uncertain investment climate,

WE ARE THE SOLUTION.

WE ARE A CLEAN JURISDICTION

Mauritius was among the first jurisdictions to be included in the OECD White List.

WE PROVIDE INTERNATIONAL PROTECTION

The Investment Promotion and Protection Agreements provide for free repatriation of investment capital and returns and guarantee against expropriation. They also provide for a most favoured nation rule with respect to treatment of investors, and compensation for losses in case of war and armed conflict. They also include arrangements for the settlement of disputes between investors and the contracting states.

Network of agreements with African countries includes 19 Investment Promotion and Protection Agreements (IPPAs)

YOUR INFORMATION IS IN SAFE HANDS

Repatriation of foreign investment and the profits from it is subject to proof of the origin of the money, and subject to payment of any outstanding Mauritian taxes. However, generally money can flow freely to and from Mauritius without any intervention or reporting requirements.

ROBUST LEGAL SYSTEM

The legal system of the Mauritius is well established and has its composite roots in the French Napoleon Code (civil law) and the British legal framework (common law). The government of Mauritius has been very clever and has emulated the legislation of a number of countries thereby having and implementing the best that is available.

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People already use V-Cubeas their business partner,

WE GROW YOUR BUSINESS.

ITS ALL ABOUT TRUST AND RESULTS

Our pool of clients comes from Africa, Asia and Europe. The comfort we can provide to your business is priceless. We prime for customer satisfaction. We are the industry experts that people trust, irrespective of their company turnover and Independent of the size of their company.

ALL THAT MATTERS IS SAVING MONEY AND PROTECTING ASSETS

Through our network of professional intermediaries including accountants, lawyers, banks, trust companies, fiduciaries, independent financial advisors and tax advisors With our extensive network, we guarantee to provide the highest level of customer service.

WE MAKE THE VOW TO GROW YOUR BUSINESS

We will always ensure that your business model is geared for maximum efficiency. We understand the needs of global businesses and ensure that the assets of the company are preserved while maximising profits.

WE DELIVER A MULTITUDE OF SERVICES

1. Advisory services on suitable offshore company formation.2. Secretarial and compliance services to make sure your company always comply to the law.3. Provision of registered office and legal representation.4. Opening and maintaining offshore bank accounts.5. Provision of professional directors and nominee shareholders.6. Accounting and audit services.7. Implementation of all structures necessary for day-to-day running including advising on investments and trading, drafting agreements and contracts and invoicing.8. Corporate design solutions: Building your company website and designing all your marketing materials.

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ITS ALL ABOUT TRUST AND RESULTS

Our pool of clients comes from Africa, Asia and Europe. The comfort we can provide to your business is priceless. We prime for customer satisfaction. We are the industry experts that people trust, irrespective of their company turnover and Independent of the size of their company.

ALL THAT MATTERS IS SAVING MONEY AND PROTECTING ASSETS

Through our network of professional intermediaries including accountants, lawyers, banks, trust companies, fiduciaries, independent financial advisors and tax advisors With our extensive network, we guarantee to provide the highest level of customer service.

WE MAKE THE VOW TO GROW YOUR BUSINESS

We will always ensure that your business model is geared for maximum efficiency. We understand the needs of global businesses and ensure that the assets of the company are preserved while maximising profits.

WE DELIVER A MULTITUDE OF SERVICES

1. Advisory services on suitable offshore company formation.2. Secretarial and compliance services to make sure your company always comply to the law.3. Provision of registered office and legal representation.4. Opening and maintaining offshore bank accounts.5. Provision of professional directors and nominee shareholders.6. Accounting and audit services.7. Implementation of all structures necessary for day-to-day running including advising on investments and trading, drafting agreements and contracts and invoicing.8. Corporate design solutions: Building your company website and designing all your marketing materials.

Still not convinced?

WE HAVE A REPUTATION TO MAINTAIN.

Index Global Rank Africa Rank

World Bank Doing Business 2014 20 out of 189

countries

1st out of 47 countries

Global Competitiveness Index 2014–2015 39 out of 144

countries

1st

Mo Ibrahim Index of African Governance 2013 1st out of 52 countries

2014 Index of Economic Freedom 8 out of 178 1st

Human Development Index 2014 63 out 187 2nd after Libya

Democracy Index 2012 Full Democracy 1st

Knowledge Economy Index 2012-World Bank 62 out of 145

countries

1st

Global Enabling Trade Report 2014 – World

Economic Forum

29 out of 138

countries

1st

Mercer’s 2014 Quality of Living Survey 82nd 1st

Fraser institute economic freedom 2014 5 out of 152 countries 1st

Outsourcing Readiness Index (Africa) 2009 53 2nd out of 15

Global Information Technology Report 2014 48 out of 148

countries

1st

ITU –United Nations Agency for Information and

communications - ITU’s Digital Access Index 2012

74 out of 155 2nd

Forbes Survey of Best Countries for Business

2013

29 out of 145

countries

1st

The Travel and Tourism Competitiveness 2013 58 out of 140

countries

2nd

Social Progress Index 2014 34 out of 132

countries

1st

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We do not just offer services,

WE OFFER SOLUTIONS.

1. FOCUS ON YOUR CORE ACTIVITIES - OUTSOURCING COMPANIES

Irrespective of where your company is situated, we can outsource your accounting, invoicing and payroll services at a very cost efficient price. V-Cube will assist your business thereby ensuring that it is structured to enhance development while you focus on the core activities of your company.

Mauritius is ranked 2nd of 15 African countries regarding outsourcing readiness Index (Africa).

Apart from letting you focus on your core activities, outsourcing companies offers BIG ADVANTAGES.

TOP 5 ADVANTAGES USING OUTSOURCING COMPANIES1. This activity is tax exempted in Mauritius. The net effect of taxation affects only one state that is domicile of residence.2. High level of confidentiality – No public access.3. No audited accounts required.4. Cost effective - license is only about 1500 USD per year. No need for extra special licenses or fee paid to government.5. Outsourcing companies can be setup in one week.

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2. INVESTMENT HOLDING COMPANIES

Investment holding companies can hold assets anywhere in the world. There are no restrictions to international transfers and dividends paid from Mauritius.

Mauritius has ratified DTAAs1(Double Tax Avoidance Agreements) with various African countries. Mauritius currently has tax treaties with 39 countries including 15 African countries.

Whenever investments are geared towards countries where DTAA’s have been signed, the best solution is to incorporate an investment holding company in Mauritius to take advantages of the Double Taxation Avoidance Agreements.

Investment holding companies will allow you to SAVE ON TAX on all assets; be it shares in a company, real estates, land, commodities and other type of investments.

To give you an insight on the POTENTIAL SAVINGS we compare investment directly to Africa and going through Mauritius:

CAPITAL Rate in the range of 30% ‐ 35% in Africa.GAINS TAX2: No capital gains tax going through Mauritius.

DIVIDENDS3: Tax ranging between 10%‐20% in Africa to non-residents. ZERO or reduced tax going through Mauritius.

INTEREST4: Tax ranging between 15%-30% in Africa. Maximum of 3% going through Mauritius.

ROYALTIES5: Tax ranging between 10%-20% in Africa. ZERO or reduced tax going through Mauritius.

We do not just offer services,

WE OFFER SOLUTIONS.

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3. TRADING COMPANIES

Offshore trading companies can provide HUGE TAX SAVING to any trades around the globe.

A typical offshore trading company will do all invoicing in Mauritius while the goods are traded as usual between the countries in the business model below:

Benefits of going through this model:

Assume that Country A and B have tax treaties with Mauritius, the trading company will be exempted from most taxes from the two countries and the effective tax rate

in Mauritius will be 0%-3%. The special favourable tax rate given to companies involved this model will

improve profit margins significantly, allowing the customer to become MORE COMPETITIVE in the global market and can use the profit for reinvestment and development.

BUSINESSMAN

Offshore trading companyin Mauritius

Country A Country B

Invoice to buy goods

Invoice to sell goods

Transport of goods

We do not just offer services,

WE OFFER SOLUTIONS.

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4. ROYALTY COMPANIES

Royalty companies act as a holding company who can purchase a copyright, patent, trademark from its original holders and exploit the intellectual property in various countries. Normally, withholding tax on royalties are very high varying from 30% or more.Presence of a double-tax-avoidance treaty between the countries involved will subsequently reduce the withholding tax.

In this scenario, a UK company wants to sells BRAND X products in UK. The UK company has to pay royalty tax to country A to be able to sell BRAND X products.

Benefits of going through this model:

ROUTE A: The UK company buys the rights to sell the product and pays a royalty

tax normally at 30% or more in country A. ROUTE B: There is no withholding tax on royalties in Mauritius. The royalty company in Mauritius will sell the rights to the UK company at a reduced tax rate through the tax treaties between Mauritius-Country A and Mauritius-UK.

BUSINESSMAN

Royalty company in Mauritius

Country A UK

Acquires Royalty/Patent from Country A

Sells rights to UK company

UK company buys directly from country A at 30% or more

We do not just offer services,

WE OFFER SOLUTIONS.

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5. ASSET PROTECTION COMPANIES

Through asset protection companies, clients are able to establish legal offshore

structures to cater for their FAMILY ESTATE AND SUCCESSION PLANNING6 on their estates on death.

Creating an asset protection company will act as a PROTECTOR7 of your

assets. Asset protection companies are set up in an attempt to AVOID OR MITIGATE THE EFFECTS OF TAXATION, divorce and bankruptcy on the beneficiaries.

Under certain legal structures, the assets transferred into the asset protection company may be sheltered from any potential claim after a set number of years.

Other benefits of asset protection companies include:

TOP 5 ADVANTAGES USING ASSET PROTECTION COMPANIES1. Reduce taxation of assets when transferring assets to beneficiaries.2. The client is guaranteed safety of his assets placed under the asset protection company through a sound legal structure.3. The client can shelter his assets against creditors under the asset protection company.4. The asset protection company is the highest flexible structure available and is kept private to suit individual needs of the client.5. Asset protection company can hold all types of assets from real estate to intellectual property.

We do not just offer services,

WE OFFER SOLUTIONS.

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5. ASSET PROTECTION COMPANIES

Through asset protection companies, clients are able to establish legal offshore

structures to cater for their FAMILY ESTATE AND SUCCESSION PLANNING6 on their estates on death.

Creating an asset protection company will act as a PROTECTOR7 of your

assets. Asset protection companies are set up in an attempt to AVOID OR MITIGATE THE EFFECTS OF TAXATION, divorce and bankruptcy on the beneficiaries.

Under certain legal structures, the assets transferred into the asset protection company may be sheltered from any potential claim after a set number of years.

Other benefits of asset protection companies include:

TOP 5 ADVANTAGES USING ASSET PROTECTION COMPANIES1. Reduce taxation of assets when transferring assets to beneficiaries.2. The client is guaranteed safety of his assets placed under the asset protection company through a sound legal structure.3. The client can shelter his assets against creditors under the asset protection company.4. The asset protection company is the highest flexible structure available and is kept private to suit individual needs of the client.5. Asset protection company can hold all types of assets from real estate to intellectual property.

6. WORKING, LIVING AND RETIRING TO MAURITIUS

Mauritius offers an exceptionally safe, hospitable and pleasant environment for people from over the world to retire on the island. There are ample accommodation facilities, from fully serviced apartments to luxurious villas and beachfront residences.

While the cost of living is affordable, medical services are of a world-class standard.

OCCUPATION PERMIT (WORKING & LIVING PERMIT)Through the occupation permit, Mauritius enables non-residents to live and work in Mauritius fairly easily. To obtain an occupation permit (valid for three years), certain criterias have to be met:

IF YOU ARE AN INVESTORYour business turnover8 should exceed MRU 4 million annually with an initial investment of USD 100, 000. In case of multiple investors in the business, each investor should respect the same criteria.

IF YOU ARE A PROFESSIONAL Basic salary should exceed MRU 45,000 (approx USD 1600) monthly. Professional in the ICT Sector should exceed MRU 30, 000 monthly.

IF YOU ARE A SELF-EMPLOYED Income from the business should exceed MRU 600,000 annually with an initial investment of USD 35,000.

We do not just offer services,

WE OFFER SOLUTIONS.

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We do not just offer services,

WE OFFER SOLUTIONS.

6. WORKING, LIVING AND RETIRING TO MAURITIUS(cont’d)

FOR A FIRM

A firm applying for an occupation permit for any foreign employee should cater a salary of more than Rs 45,000 (approx USD 1,600) a month for the employee and can also apply for a residence permit for the spouse and children of that employee.

FOR A RETIRED NON-CITIZEN

Criterias are as follows:

1. The retired non-citizen should be 50 years of age.2. He/she should undertake to transfer to his/her local bank account in Mauritius, at least 40,000 US dollars annually.3. He/she should make an initial transfer of at least USD 40,000 or its equivalent in freely convertible foreign currency when first settling in Mauritius.

The spouse of a holder of an occupation permit can take up any job according to the same criterias as investors or skilled professionals.

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We do not just offer services,

WE OFFER SOLUTIONS.

6. WORKING, LIVING AND RETIRING TO MAURITIUS(cont’d)

Permanent Residence Permit (PRP)

The PRP is by definition an extension of the occupation permit and it allows any foreigners to work and/ or live in Mauritius for a period of 10 years.

CRITERIAS FOR ELLIGIBILITY

FOR AN INVESTORHolding an occupation permit for 3 years immediately preceding the date of the application for PRP and whose company’s turnover exceeded Rs 15 million every year during each of these 3 years.

FOR THE SELF-EMPLOYED Holding an occupation permit for 3 years immediately preceding the date of application for PRP and whose income exceeded Rs 3 million every year during each of these 3 years.

FOR THE PROFESSIONALHolding an occupation permit for 3 years immediately preceding the date of application for PRP and who has drawn a basic monthly salary of at least Rs 150,000 during the entire three year period.

FOR THE RETIRED NON-CITIZEN Holding a residence permit for 3 years and who has transferred to Mauritius US$ 40,000 or its equivalent in convertible currency annually during each of these 3 years.

Only married spouse and dependent children under 18 years are eligible for PRP. Children over 18 years old may obtain such permit if enrolled in a fulltime education in Mauritius.

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We do not just offer services,

WE OFFER SOLUTIONS.

6. WORKING, LIVING AND RETIRING TO MAURITIUS(cont’d)

IRS SCHEMEUnder the IRS scheme, foreigners can purchase a property with an investment of at least USD 500,000. The land’s size of each villa shall not exceed 1.25 arpents.

After acquisition through the IRS, they will obtain permanent residency. Their spouse and dependents can also become Mauritius residents as long as he (the owner) holds the property. Villas sold under the IRS are luxury properties of world class standard, high-class amenities and leisure such as golf course, private marina and swimming pool, watersports facilities, wellness and spa centres, restaurants. Services such as waste disposal, gardening, maintenance, security are also included.

Who can apply under this scheme?- Non-citizen of Mauritius.- Citizen of Mauritius.- A registered foreign company in Mauritius(Offshore company)- A company incorporated in Mauritius(Domestic company)

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We do not just offer services,

WE OFFER SOLUTIONS.

6. WORKING, LIVING AND RETIRING TO MAURITIUS(cont’d)

RES SCHEMEThe Real Estate Scheme (RES) has been introduced by the Government of Mauritius in December 2007 to allow the development of residential units (villas, apartments, penthouses…) for sale mostly to non-citizens on freehold land of at least 1 arpent but no more than 10 hectares in size. Only small land owners who have owned their land for at least 5 years can apply for a RES permit.

Compared to the IRS, there is no minimum amount of investment in the purchase of a property under the RES. Yet, if purchase price is equal to or more than USD 500,000 the buyer and his dependents will be eligible for Mauritian residency. If the purchase price is less, the buyer can stay in Mauritius for 6 months a year on a holiday visa. The extent of land that may be used for a single residential property should not exceed 1.25 arpents. The RES includes leisure amenities and commercial facilities. Day-to-day management services such as security, maintenance, gardening, household service, solid waste disposal are also included.

In essence, it is a smaller version of an IRS and does not have the resort side that the IRS offers, as it is purely residential.

Acquiring a property under the RES does not confer permanent residency. Acquirers of a residence under the RES may wish to apply for residency under any of the 4 existing conditions: as an investor, as a professional, as a self-employed, or as a retired non-citizen as explained earlier.

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Tired of custom duties,

WE OFFER REDUCED OR ZERO TAX ON TRADES.

7. REDUCED TAX ON TRADING

Mauritius is a member of both the Common Market for Eastern and Southern Africa (COMESA) and Southern African Development Community (SADC).

The advantages derived from those agreements enable trade at reduced or zero tax. By satisfying the COMESA Trade Protocol, goods processed in the Mauritian freeport can qualify for zero or reduced tax duties in inter trades between other COMESA member states including:

Djibouti, Eritrea, Ethiopia, Egypt, Libya, Sudan, Comoros, Madagascar, Mauritius, Seychelles, Burundi, Kenya, Malawi, Rwanda ,Uganda, Swaziland, Zambia Zimbabwe, Democratic Republic of the Congo and South Sudan.

The SADC protocol makes provision for gradual elimination of custom duties over a 12-year period. All goods originating from SADC member states will be traded freely without custom duties with the SADC region.

SADC member states includes:

Angola, Botswana, Democratic Republic of the Congo, Lesotho, Madagascar, Mauritius, Mozambique, Namibia, Seychelles, South Africa, Swaziland, Tanzania and Zambia.

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8. ADD-ON FINANCIAL SERVICES

OFFSHORE BANKINGOpening a new account is a rite of passage for many persons. V-Cube establish and administer accounts with a number of overseas banks and local banks. Offshore banking offers benefits such as discretion, multi-currency accounts,

credit cards to be used worldwide, having money in an ECONOMICALLY AND POLITICALLY STABLE COUNTRY.

Our banking partners: AfrAsia Bank, Barclays Bank, Mauritius Commercial Bank, State Bank of Mauritius, Bank One, HSBC and Bramer Bank

FUND MANAGEMENTMauritius is recognised as a leading regional centre for offshore fund structuring and administration, for investment particularly in India, Asia, Middle East and African countries.

With our experienced staff, V-Cube will administer your fund with services dealing from daily NAV calculation9, accounting and compliance monitoring to remain in line with regulations of relevant authorities. Fund administration is done through our team and network of experts.

INVESTMENT DEALER LICENSEThe Investment Dealer licenses in Mauritius appeal to Brokerage Houses10 worldwide. The license enables a broker to effectuate orders for clients, maintain portfolios of clients and give recommendations on securities transactions to clients. The main advantage of obtaining an investment dealer license in Mauritius is that it is available in different categories including full service dealer (with/without underwriting), foreign dealer (with currency or commodities segments) and discount broker.

Because we aim to be a global leader,

WE OFFER ADD-ON FINANCIAL PRODUCTS.

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THE ABC OF OFFSHORE

1. DTAA(DOUBLE TAX AVOIDANCE AGREEMENT)

It is not unusual for a business or individual who is resident in one country to make a taxable gain (earnings, profits) in another. This person may find that he is obliged by domestic laws to pay tax on that gain locally and pay again in the country in which the gain was made. Since this is inequitable, many nations make bilateral double taxation agreements with each other. In some cases, this requires that tax be paid in the country of residence and be exempt in the country in which it arises.

So far Mauritius has concluded 39 tax treaties and is party to a series of treaties under negotiation. The treaties currently in force are:Because offshore is complex,

WE EXPLAIN IT TO YOU.Australia (Partial) Barbados Belgium

Botswana Croatia Cyprus

Democratic Socialist Republic of Sri Lanka

France Germany (New)

Guernsey India Italy Kuwait Lesotho Luxembourg

Madagascar Malaysia Monaco

Mozambique Namibia Nepal

Oman Pakistan People's Republic of Bangladesh

People's Republic of China Rwanda Senegal

Seychelles Singapore South Africa

State of Qatar Swaziland Sweden (New) Thailand Tunisia Uganda

United Arab Emirates United Kingdom Zambia

Zimbabwe

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THE ABC OF OFFSHORE

2. CAPITAL GAINS

A capital gain is a profit that results from a disposition of a capital asset, such as stock, bond or real estate, where the amount realized on the disposition exceeds the purchase price. The gain is the difference between a higher selling price and a lower purchase price.

3. DIVIDENDS

A dividend is a payment made by a corporation to its shareholders, usually as a distribution of profits.[1] When a corporation earns a profit or surplus, it can either re-invest it in the business (called retained earnings), or it can distribute it to shareholders.

4. INTERESTS

Interest is a fee paid by a borrower of assets to the owner as a form of compensation for the use of the assets. It is most commonly the price paid for the use of borrowed money, or money earned by deposited funds.

5. ROYALTIES

A royalty (sometimes, running royalties, or private sector taxes) is a usage-based payment made by one party (the "licensee") to another (the "licensor") for the right to ongoing use of an asset, sometimes an intellectual property (IP). Royalties are typically agreed upon as a percentage of gross or net revenues derived from the use of an asset or a fixed price per unit sold of an item of such, but there are also other modes and metrics of compensation.

Because offshore is complex,

WE EXPLAIN IT TO YOU.

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THE ABC OF OFFSHORE

6. FAMILY ESTATE AND SUCCESSION PLANNING

In the context of succession planning, each member of the family has to know that the others are committed to help each other be successful.

7. PROTECTOR

The concept of a protector is developed in offshore jurisdictions where settlors are concerned about appointing a company in a small, distant country as sole trustee of an offshore service which is to hold a great deal of the client(settlor)'s wealth.

8. TURNOVER

The annual sales volume net of all discounts and sales taxes.

9. NAV CALCULATION

Net asset value may represent the value of the total equity, or it may be divided by the number of shares outstanding held by investors and, thereby, represent the net asset value per share.

10. BROKERAGE HOUSESA brokerage firm, or simply brokerage, is a financial institution that facilitates the buying and selling of financial securities between a buyer and a seller. Brokerage firms serve a clientele of investors who trade public stocks and other securities, usually through the firm's agent stockbrokers.

Because offshore is complex,

WE EXPLAIN IT TO YOU.

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"The avoidance of taxes is the only intellectual pursuit that carries any reward" – John Maynard Keynes, a British economist whose ideas have fundamentally a�ected the theory and practice of modern macroeconomics and informed the economic policies of governments.

CONTACT US THROUGH CONTACT@VOSLGLOBAL.COM

SKYPE V-CUBE_OFFSHORE

TELEPHONE NUMBER +230 465 1400

ADDRESS5TH FLOOR ORBIS COURT,132 ST JEAN STREET,QUATRE BORNES,MAURITIUS

WWW.VOSLGLOBAL.COM