Innovate on a balcony facing the azure-blue lagoon
Tony, a 36 years old South African works for a software company. Over the past few months, Tony has been spending a couple of hours 5 evenings a week on version 0 of a new application. The development is on a good course and Tony is very optimistic that this can be the next big thing if, and that is a big “if”, he leaves his current job to work on the project full time. Tony also needs an app development crew to support him for further research and development, and then hopefully he can create a Version 1.0 that can be beta-tested. It is clear in Tony’s mind that a truly commercial product that attains global market visibility is not due before 12 months. The project will also require some significant seed capital to support the research and development team in the initial period, and to cover initial marketing costs.
The billion dollar question
I met Tony by chance and we started talking about mundane stuff like the virtue of living and working in a paradisiac setting like the island of Mauritius – sun, sand and sea, feeling safe and free to walk and jog around, playing golf on gorgeous courses, trekking, diving and fishing, basically enjoying everything nature has to offer. And then Tony asked the billion-dollar question. “Why can’t I work on my new app sitting on a balcony facing the gorgeous azure-blue lagoon? In any case, I have to quit my job!”
Work environment influences innovative ideas
Innovator Scheme: an advantage for foreigners investing in Mauritius
Tony was excited when we told him that Mauritius has an Innovator Scheme to help foreigners to relocate to Mauritius for developing new things. The team he wants to set up can be sourced locally, and in any case, if he wants to bring some buddies from overseas, they too can get the Innovator Work and Live Permit. Tony’s mind was made up instantly, and I must confess that I was myself surprised by his ability to make such an important life decision so quickly. He already pictures himself in Mauritius. He must have been toiling with the idea of moving out, I reasoned.
But will I be able to market my app worldwide if I am based in Mauritius? he asked worriedly. And he just could not believe the answer I gave: “Buddy, that’s not all; you will not even pay a single cent of tax for 8 years!”
“There must be strings attached”, he laughed sceptically.
Are there strings attached?
In fact, there aren’t. Version 1.0 is still 12 months away and so far barely any capital has been invested in the R&D. Significant capital is now needed to recruit the team to work on this under Tony’s leadership to take it to version 1.0. The new app seems to be non-obvious, novel and useful. So Tony is ticking all the main boxes.
Visionaries and innovators, get in touch with us
NWT is licensed by the Financial Services Commission in Mauritius and by the Association Romande des Intermédiaires Financier (ARIF), a self-regulatory body approved by the Swiss Financial Market Supervisory Authority (FINMA) in Switzerland.
If you are like Tony, mulling over some new idea, new concept, new product or service offering, if you are about to solve a problem that nobody did, speak to us about the Mauritius Innovation Box Regime.