Banks of Tax Haven Mauritius Pursue Wealth Management
Published on: Thursday 26 February 2015
Mauritius has long played a unique role in international finance. Once a French trading hub, the lush Indian Ocean island was captured by the British in the Napoleonic Wars. Since Mauritius gained independence in the 1960s, financial services have become an outsize feature of the country’s small economy: Until Singapore pulled ahead last year, the tens of billions of dollars moving through its banks to India made Mauritius the No. 1 source of foreign direct investment in the subcontinent. This flow stems from a 1983 treaty that exempts Mauritius-based companies from Indian taxes.
