ECS Global brochure

Company
ECS Global Ltd
www.ecsglobalbusiness.com
Brochure
1 Introduction
3 Why the Mauritian jurisdiction
7 Taxation
9 Work and live in Mauritius
11 Our solutions
16 Mauritius meets Europe
17 Mauritius meets Africa
18 Mauritius meets Asia
19 Contact Us

Our history
1 www.ecsglobalbusiness.com
ECS Global ltd is a Management Company,
fully licensed by the Financial Services
Commission (FSC Mauritius), which
provides trust, corporate and
administration services to the international
financial service sector.
ECS Global forms part of a group
established since 1989 and has in its
shareholding structure, an associate
company listed on the first market of the
stock exchange of Mauritius.
Mr. M.J.A.Yan Bechard is the Executive
Director of ECS Global ltd.
During his 25+ years career, he has been
involved in all aspects of company
formations, management, finance,
administration and tax both on the local
and international markets.
He is an associate of the Institute of
Chartered Secretaries and
Administrators (ICSA) UK and was a
former President of the ICSA (Mauritius)
branch. He is also a member of the
Mauritius Institute of Directors (MIOD).
YAN BECHARD
CHIEF EXECUTIVE OFFICER
ABOUT US
ECS Global is more than well equipped to advise clients on matters regarding tax planning,
global structuring, asset protection and cross-border investments.
As a secure and established provider, we offer the following global business structures:
Mauritius GBCI Companies, Mauritius GBCII Companies, Mauritius trusts, Mauritius
foundations, Seychelles IBC, Seychelles CSL and Seychelles trust.
We also offer a wide variety of solutions to investors, entrepreneurs, working professionals and
retired citizens via government approved schemes to obtain the Mauritian residency.
Our services

Contents
The group was
established in
1989 with ECS
Global ltd being
the global
business arm and
is more than well
equipped to
advise our clients
on matters
regarding tax
planning, global
wealth
structuring, asset
protection and
cross-border
investments.
Mr. Clement Rey is the director of ECS Global.
He holds a Bachelor’s and Master’s degree in
Business Law from the UK.
He was the former Head of Corporate Affairs
within the Ciel Group and is a member of MIOD.
Clément Rey
Director
ECS Global ltd(Mauritius)
Rezah Cotobally is a Fellow of the Association of
Chartered Certified Accountants, UK, and also
holds an MBA (Major in Finance).
Over the past thirty years, he has acquired vast
experience in accounting, auditing, taxation,
corporate secretarial, corporate, trust and fund
administration, corporate structuring, tax
planning and business strategy while working
for some of the leading companies in Mauritius,
namely Air Mauritius Ltd, Abax Corporate
Services Limited, PricewaterhouseCoopers,
NinetyEast Financial and De Chazal du Mée.
Rezah acts as resident director for several
Global Business companies.
Rezah Cotobally
Chief Operating Officer
Ms. Darsihini Callichurn is the head of
compliance and MLRO of ECS Global ltd.
She has a broad knowledge in legal aspects of
company formation and administration in
Mauritius. She is a holder of an LLB and is
currently completing her LLM. She is also a
member of ACAMS.
Head of compliance and MLRO
Ms. Madhoori Runglollsing is the client services
executive at ECS Global ltd.
She has served the global business services
industry for over 7 years in one of the biggest
offshore management company in Europe. She
is a holder of a bachelor degree in accounting
and finance and is currently pursuing her
studies in ICSA.
Madhoori Runglollsing
Client services executive
1 Introduction
3 Why the Mauritian jurisdiction
7 Taxation
9 Work and live in Mauritius
11 Our solutions
16 Mauritius meets Europe
17 Mauritius meets Africa
18 Mauritius meets Asia
19 Contact Us
Mr. Ashwin Motee is the business development
executive of ECS Global ltd. He has served in a
number of industries including banking,
engineering and offshore management.
He has a proven background in advising clients
for structures including SPVs in multiple
jurisdcitions.
He is a holder of a dual degree in engineering
and is currently completing his MBA.
Ashwin Motee
Business Development Executive
Darshini Callichurn

About Mauritius
Mauritius is situated in the Indian
Ocean approximately 800 km off the
East Coast of Madagascar. The
island, which is of volcanic origin,
covers an area of 1,800 sq. km.
Mauritius has historically been
known as the “Star & Key” of the
Indian Ocean given its strategic
location as an important trading hub
between the East and West. The
island’s position in the region has
been further consolidated with the
development of the international
financial services sector which is
increasingly being favored by
professionals and investors from a
round the world.

Safe environment
Mauritius international business sector is growing fast as Mauritius is increasingly
recognized as a safe and well-regulated jurisdiction from which to conduct global business.
It has all the ingredients necessary for that – political stability, strategic location, excellent
infrastructure and an efficient communication network.
Mauritius was also one among the first jurisdictions to be included in the OECD White List.
Mauritius 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).
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.
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.
At that date, Mauritius have concluded
agreements with 27 countries with agreements
with another 15 countries awaiting ratification.

Strategically placed
Mauritius is strategically placed as an International
Financial Centre situated in the Indian Ocean region about
1,200 km off the African coast, to the east of the island of
Madagascar. 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 with a well regulated
legislative framework, a pool of highly skilled professional,
an international standard banking sector and ever growing
network of double taxation treaties in place.
A jurisdiction of substance, not a tax
haven
It is undeniable that jurisdictions such as the BVI and the
Cayman Islands have more companies than people and the
concept of substance is inexistent in constrast to Mauritius
which has always been promoted as a jurisdiction of
substance. To sustain its development as an International
Financial Centre of Substance, Mauritius has already
embarked on a strategy of enhancing its range of financial
products and moving towards the provision of higher end
and value added services. There are approximately 25,000
global business companies incorporated in Mauritius and
900 global funds registered here.
It is relevant to make the comparison of the 25,000 global
business companies registered in Mauritius to the 375,000 in
the Cayman Islands, and more than 1 million in the British
Virgin Islands. The Ex-Finance minister in Mauritius
Xavier-Luc Duval rightly said "If we had wanted to be looking
at quantity rather than quality, today we could easily have
been at 250,000. But we decided to do otherwise" he also
emphasised the government's policy push for companies
registered on the island to have 'substance' to bring more to
the economy of the island and to open substantial offices
there and employ Mauritians.
A concrete example of substance requirements is the
condition of management and control in Mauritius. Resident
companies availing tax benefits, GBC 1s must have two local
Directors, a local Auditor, a principal bank account in
Mauritius and board meetings held and chaired in Mauritius.
Addtionally as from January 2015, the Financial Services
Commission (“FSC”) recently amended the Guide to Global
Business requiring a Category 1 Global Business Company
(GBC 1) to have presence which may be reasonably expected
from a corporation managed and controlled in Mauritius. In
addition to existing requirements, further criteria to be
considered by the FSC include: having office premises,
holding assets, employing staff and being listed in Mauritius.
Mauritius has earned a reputation of
being a jurisdiction of substance.
Mauritius oﬀers an ideal platform for
investing into Africa and Asia. It
provides a wealth of Double Taxation
Treaties, which can be beneﬁcial in
cross border company structures.

“Mauritius was
made ﬁrst, and
then heaven, and
that heaven was
copied after
Mauritius”
Life in Mauritius
The population of Mauritius is diverse, tolerant,
and peaceful, and now stands at about 1.3 million.
Ethnic groups make up the population today as
follows: Indo-Mauritian 68%, Creole (African
descent) 25%, Sino-Mauritian 3%,
Franco-Mauritian 2%, with the remaining 2%
made up of a mix of expatriates. French, Creole,
and English are widely spoken by the people of
Mauritius, with English being the official language.
The climate in Mauritius is a tropical luxury. It is
hot and humid from November to March and cool
and mild the rest of the year. Mauritius is
susceptible to cyclones from December to March,
but construction standards are sound and early
warning services are efficient.
Retired life mostly revolves around golf and
boating, though ocean swimming, snorkelling,
scuba diving, and kite surfing are also popular.
Mauritius offers many quality golf courses, and
the ocean provides a haven for boating, sailing,
and fishing. Domestic workers are inexpensive
and generally reliable.
The island is well-connected by flights to Africa,
Europe, and Asia, making travel convenient. As a
small island, social life can be somewhat limited,
but Mauritius serves well as a base from which to
travel.
Infrastructure in general is well-developed, with
an adequate network of paved roads and reliable
water and power supply systems. The island also
enjoys the benefits of competent medical and
dental facilities, with qualified practitioners from
India, France, China, and South Africa.
The Property Development Scheme (PDS), which
has replaced the IRS and RES, allows the
development of a mix of residences for sale to
non-citizens, citizens and members of the
Mauritian Diaspora.
A non-citizen is eligible for a residence permit
upon the purchase of a villa under the PDS
scheme when he has invested more than USD
500,000 or its equivalent in any freely convertible
foreign currency.
The PDS is also a demarcation from the IRS and
RES in as much as it does not differentiate
between small and big landowners and
harmonizes the registration duty to a single rate
of 5% instead of USD 70,000 on registration of a
deed under IRS and USD 25,000 under RES.
International benchmarks
Mauritius is recognised by international
organisations for continuous improvement in its
doing business regime. The country is today
acclaimed as a leading investment destination
ranking 19 in the world and first in Africa for
ease of doing business as well as ranking first in
Africa for Mo Ibrahim Index of African
Governance, Global Enabling Trade Index,
Global Competitiveness Index 2015-2016, Global
Enabling Trade Report 2014 – World Economic
Forum and Forbes Survey of Best Countries for
Business 2014. This has only been possible with
Mauritius being member of numerous
organisations involved in regulating financial
services products (insurance, securities and
others), combatting financial crime, and above
all developed-developing economic cooperation
agreements.
Competitive investment
location
One of the unique elements that makes
Mauritius a competitive investment location is
the preferential market access to the EU (under
the Cotonou Agreement), US (under the Africa
Growth and Opportunity Act- AGOA) and Africa
(under the Common Market for Eastern and
Southern Africa - COMESA and under the
Southern African Development Community -
SADC).
Quoted from Mark
Twain

Tax planning
for the future
The taxation of income of both companies and individuals is governed by the
Income Tax Act 1995 which is substantially based on UK tax law. Mauritius has a
global system of taxation as opposed to a schedular system. Under this system,
income from all sources is added up and the appropriate tax rate is applied after
reckoning all allowable deductions and exemptions.
Taxation of global business
companies
The rate of corporate income tax in Mauritius is
15% on chargeable income. However, varying
rates apply to Global Business Companies (i.e.
“Offshore” Companies”) from zero or 3%.
Mauritius GBC 1 Companies are resident in
Mauritius and consequently subject to tax. They
benefit from both tax credits and a longstop tax
rate of 3%. Correctly structured and managed
Mauritius GBC 1 companies may access
Mauritius' network of 43 tax treaties. Neither
capital gains nor withholding taxes are levied.
A GBL1 is used generally when income from
overseas is mainly in the form of dividends,
interest, royalties and capital gains
and when Double Taxation Agreements needs
to be accessed for tax planning benefits.
A GBL1 is also used for engaging in financial
services business such as insurance,
investment management,investment
advisory, fund management and collective
investment schemes.
A GBL2 is the ideal vehicle for holding and
managing private assets. It is also commonly
used for trading and non-financial
consultancy business. It is a non-resident
company and therefore fully tax exempt. Such
a company cannot use to the
Double Taxation Agreements in force in
Mauritius.

International tax planning is a lawful, legitimate activity that seeks to minimise the
risks of international double taxation and recognise the territorial limits or
boundaries of a given national tax jurisdiction.
Taxation of trusts
Trusts are usually liable to income tax on its
chargeable income at the rate of 15% per
annum and are required to submit annual tax
returns not later than 31st March of each
year. Trusts holding a category 1 global
business licence, shall be subject to an
effective income tax rate of 0-3%. Such trusts
shall have access to tax treaty network of
Mauritius.
A trust of which the settlor and beneficiaries
are non-residents in any income tax year or
hold either Category 1 or Category 2 Global
business licence can annually elect to be
non-resident in Mauritius for tax purposes,
hence not liable to income tax in Mauritius.
Any distribution from a trust is deemed to be
dividend, hence not taxable in the hands of the
beneficiaries in Mauritius.
Tax residency conditions
The Income Tax Act 1995 defines a resident
company as one which is incorporated in
Mauritius, or has its central management and
control in Mauritius. The place where central
management and control is located would be
determined by such factors as where the board
meetings are held and hence where decisions
are taken and orders given.
Residence in respect of an income year means
an individual who has his domicile in Mauritius
unless his permanent place of abode is outside
Mauritius; or been present in Mauritius in that
income year for a period of, or an aggregate
period of 183 days or more; or been present in
Mauritius in that income year and the 2
preceding income years, for an aggregate
period of 270 days or more.
Planning ahead

Relocation
services:
Occupation and
residency permit
In its pursuit to become a high-income
economy, Mauritius is actively encouraging
foreign talents, know-how and investment into
the country. Whether you are an investor, a
professional, a self-employed or a retired
non-citizen, there are a number of compelling
reasons to consider Mauritius as your location
for doing business and living.
Foreign nationals wishing to work, live or retire
in Mauritius may explore various avenues either
through the Occupation Permit, the Residence
Permit or the Permanent Residence Permit.
They are also eligible to acquire property in
Mauritius under prescribed conditions.
The Permanent Residence Permit allows a
non-citizen to work and live in Mauritius for a
period of ten years. Eligibility criteria are as
follows:
1. An investor who invests at least 500,000 US
dollars in a qualifying business activity.
2. A self-employed who holds an Occupation
Permit and where the annual income exceeds
MUR 3 million for three consecutive years.
3. A professional having a valid Occupation or a
Work Permit and whose monthly basic salary
exceeded MUR 150,000 for three consecutive
years immediately preceding the application.
4. A retired non-citizen who has held a
Residence Permit for three years and has
transferred 40,000 US dollars annually to his
account in a local bank during each of these
three years.

An asset protection trust is essentially a discretionary trust where the assets are
placed to shelter them from potential future claims. These have increased in use
in recent years with the rapid increase, primarily in the USA due to litigation
against professional firms and the medical profession.
A trust is created when assets are transferred to a
trustee. The trustee becomes the legal owner and
is responsible for managing the assets and
distributing them to the beneficiaries of the trust
(which may include the person or corporation
which transferred the assets to the trustees) in
accordance with the terms of the trust deed.
The terms on which the Trustees administer the
trust assets are detailed in a trust deed and trust
legislation to govern trusts has been enacted in
many common law jurisdictions.
Main Features
This straight forward trust is set up to provide
protection from any type of future claim, including
creditors’ claims, claims in a divorce settlement
and judgments. In order for this trust to provide
the maximum level of protection, it needs to be an
irrevocable discretionary trust. This means that
the power to appoint any part of the trust fund will
remain at the full discretion of the trustee.
Depending on the proper law under which the
trust is set up, the assets transferred into trust
will be sheltered from any potential claim after a
set number of years.
Who is it for?
Those who are at the front line and vulnerable to
litigation claims and those who are involved in
various business deals and who wish to protect
assets from the claims of creditors.
Trustees and their duties
Trustees have a general duty in the exercise of
their functions to observe the utmost good
faith and to act with due diligence with care
and prudence and to the best of their ability
and skill. Trustees must execute and
administer the trust, and exercise their
functions in accordance with the Act and the
terms of the trust and only in the interest of the
beneficiaries or in fulfillment of the purpose of
the trust.
Settlor
Any person who has the legal capacity to
contract may create a trust. The settlor may be
a natural person or a body
corporate. A settlor may also be a trustee, a
beneficiary, a protector or an enforcer, but
cannot be the sole beneficiary of
a trust of which he is a settlor.
The settlor can guide the trustee as to how to
invest and distribute the assets by way of a
‘letter of wishes’.
Beneficiaries
Any person, whether natural or corporate,
entitled to benefit under a trust, or in whose
favour a power to distribute trust
property may be exercised may be a
beneficiary. A beneficiary must be identifiable
by name or ascertainable.
Asset
protection trust

Trading
companies
This company is designed to be used mainly by
people engaged in import and export trading
activities.
Main Features
The company is exempted from taxation, and
hence adequate for repatriation of funds back to
the beneficial owners’ country of residence. The
net effect is taxation in only one state that is
domicile of residence. It is a limited liability
company, which has as its name says limited
liability. Ownership is confidential. Back to back
LC’s using local trading commercial bank
provides leverage for capital contribution by
promoters. With consideration to transfer
pricing rules, this company can effectively be
used for transfer pricing between the importing
state and the exporting state.
Who is it for?
Traders
Businessman importing and exporting from a
country, other than his resident country.
Businessman looking for asset protection
against potential liabilities
Benefits
Trade financed by LC, that is no capital
contribution
Tax minimisation
Avoidance of double taxation
Confidential vehicle

Holding
companies
A holding company is a company that owns
other companies' outstanding stock. The term
usually refers to a company that does not
produce goods or services itself; rather, its
purpose is to own shares of other companies to
form a corporate group.
A holding company that owns enough voting
shares to control the decisions and
appointments of directors is called a parent
company.
Holding companies allow the reduction of risk
for the shareholders. Offshore holding
companies also decrease overall taxes and
offer an additional level of anonymity to the end
beneficiaries.
The principal uses of Offshore holding
companies are for investment, property,
patent, royalty or copyright holding.
The Mauritian offshore offers Holding Company
regimes that are generally favourable with
regards to the treatment of foreign sourced
income and benefits through proper tax
planning with our extensive double taxation
treaty agreements.

Intellectual
property
Intellectual property holding companies are those specifically designed for
owning another’s intellectual property – i.e. patents, copyrights, trademarks,
service marks, trade secrets, etc. – for the purpose of managing, selling and/or
licensing same to third parties for the right to exploit the said intellectual
property in a given or agreed upon manner.
The reason behind
A business with a substantial amount of
intellectual property may decide that an
intellectual property ("IP") holding company will
improve its ability to manage its intellectual
property, while simultaneously reducing the tax
burden on the business. In the IP holding
company model, the parent company, the original
owner of the intellectual property, establishes a
wholly-owned subsidiary as an IP holding
company and then transfers ownership of its
intellectual property to the newly-created IP
holding company.
The advantage
In addition to the tax benefits, the creation of an IP
holding company can increase corporate
efficiency in the operation of the business. By
consolidating ownership of intellectual
property, the separate entity can provide
centralized management of IP assets
worldwide with a more global view on the
exploitation of the assets.
Benefits: Cost and protection
Segregating the IP assets also allows the
cost/benefit analysis of the IP holdings to be
more accurately calculated. Moreover, by
placing the intangible assets into an IP holding
company and appointing officers and directors
different from the operating company's officers
and directors, the parent company can insulate
itself from involvement in the prosecution of
lawsuits involving the intellectual property.

Company
migration services
Versatility
A foreign company may transfer its seat to
Mauritius and continue as a GBC1, a GBC2 or a
domestic company and likewise a global entity
in Mauritius can transfer its statutory seat to
another jurisdiction.
Our migration services
If you are interested in moving your activities
here we can help you migrate your company
from anywhere in the world to Mauritius with
the following added value services provided by
our partners and within our expertise:
• Arranging office facilities
• Applying for residency and work permits for
foreign workers and families
• Business facilitation with local commercial
partners and distributors

Protected
cell companies
Mauritius approved the Protected Cell Company Act 1999 (amended 2000) and
came into force in January 2000. The PCC allows companies with a Category 1
Global business License to create ‘cells’ for the purpose of segregating and
protecting assets of one cell against failure of another cell.
Risk management
A Protected Cell Company is able to segregate its
assets into different cells within that company and
protects each cell from the liabilities of any other
cell. This allows additional opportunities, flexibility
and security for international investment
structuring especially for an entity with various
investment portfolios where each has its own
investment strategy and risk profile. Ordinary
shares are issued to control the core, these
include voting shares. Cellular shares are issued
relating to individual cells, these shares have no
voting rights, The connection between the named
cellular shares and cells to which they are related
is set out in the constitution of the PCC.
Who is it for?
Insurance companies (Life, captive,
reinsurance, conglomerates) with a need for
segregation of insurance policies
Multi-nationals – where companies can
operate their captive insurance, treasury and
other functions globally in a single entity using
the same core capital.
Global business funds - collective investment
schemes with various classes of shares,
umbrella or multi-class funds.

Mauritius
meets Europe
Foreign Direct Investments (FDIs)
The level of FDI remains well above the 2005
level (MUR 9.5 billion in 2011, MUR 12.7 billion
in 2012) with an average around 50% originated
from the EU (with France, the UK and
Switzerland as the leading investors). Mauritius
companies are highly used for inbound
investments in countries like Luxembourg, Italy,
UK,etc. Likewise these European countries use
Mauritius companies for outbound investments
due to the favourable treaties that Mauritius
has.
Investment funds through Mauritius
With the recent signing of the co-operation
agreement with the European Securities and
Markets Association (ESMA), will ensure that
Mauritius-licensed funds can be marketed in
the EU through private placement regimes
following the recent implementation of the
alternative investment fund managers’ directive
(AIFMD).
Strong ties with the European Union
The country's political heritage and dependence
on Western markets have led to close ties with
the European Union and its member states,
particularly the United Kingdom and France.

Mauritius
meets Africa
The obvious route
Mauritius is serving the Global investors as a
natural route to structure investments in Africa.
There is no doubt that Africa will receive
substantial amount of investment as the next
emerging market in the next decades.
Member of various organizations
• SADC (Southern African Development
Community)
• COMESA (common market for Eastern and
Southern Africa)
• Indian Ocean Rim Association of Regional
Cooperation
• AGOA, i.e US Africa Growth and Opportunities
Act
Protection of investments towards Africa
Mauritius has a network of double tax treaties
with many countries in the African continent
and includes Botswana, Lesotho, Madagascar,
Mozambique, Namibia, Rwanda, Senegal,
Seychelles, Republic of South Africa, Swaziland,
Tunisia, Uganda and Zimbabwe and a few more
under consideration of negotiation. Besides,
Mauritius has also signed IPPA’s, i.e Investment
Protection and Promotion Agreements with a
number of African countries which give
protection of investments against expropriation
or confiscation by governments as well as
encouraging promotion between member
estates.

Mauritius
meets Asia
Mauritius is a unique international financial
centre with strong cultural and commercial ties
with India and China.
Using the Mauritius advantage - China
Chinese companies are now predominantly
structuring their Africa investments through
Mauritius. Structuring their investments
through offshore structures minimises the risk
of investment failures and provides tax savings
through the use of double tax agreements
(DTAs).
Using the Mauritius advantage - India
India was the main target of investments routed
through Mauritius, culminating in a double
taxation avoidance agreement signed between
the two nations in 1983. When liberalization and
globalization swept India off its feet in the early
1990s, Mauritius became the primary
investment gateway for the thriving
sub-continent economy
It is better to structure investments through a
country with an investment treaty to ward off
the risk of expropriation, especially when
investing in small developing countries where
there could be political risks involved or
changes in government policies, according to
Sumant Nayak, chief legal officer of the Indian
infrastructure giant GMR Group.

General queries: info@ecsglobalbusiness.com
www.ecsglobalbusiness.com
GET IN TOUCH WITH
ECS GLOBAL
ECS Global Ltd
3rd ﬂoor Labama House,
Sir William Newton Street,
Port-Louis,
Mauritius
+ 230 208 33 22
+ 230 213 97 43
ecsglobalmu facebook.com/ecs
linkedin.com/ecsglobal
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