Company Formation Mauritius
Mauritius is an island nation in the southwest Indian Ocean. It is a former British colony which got independence in 1968 and is now a member of Commonwealth.
Offshore Company Formation in Mauritius
The offshore company formation in Mauritius take the form of Global Business Company Category 1 (GBC1) and Global Business Company Category 2 (GBC2). GBC2 are similar to BVI, Belize and other offshore havens while GBC1 allows access to numerous tax treaties in Mauritius
Key Features of Mauritius offshore company formation
- Free of tax
- No need to submit audited accounts (only annual statements to be filed)
- The business setup in Mauritius can do business anywhere in the world
- No resident directors or shareholders is required
- Director can be any person or company of any nationality
- Meetings or directors and shareholders can be held anywhere in the world
- Share capital is unlimited
- Incorporation can be completed in 3-4 days
- A registered offshore company office in Mauritius is required
- Local secretary is not required
- Bank account can be anywhere in the world
- No minimum capital requirement
Restrictions
- The company cannot engage in business of banking, insurance, financial consultancy and trusts
- It is not allowed to raise capital from public
- Accounts must be maintained
GBC1
Unlike GBC2.GBC1 in Mauritius are tax resident companies that are entitled to pay a low percentage of tax. GBC1 has access to many double taxation treaties that Mauritius has signed with other countries. Incorporation of 1GBC will normally take two weeks.
Key Features of 1GBC
- Low tax rate
- Availability of tax credit on business
- Interests on bank deposits are not taxable
- There are no stamp duties or registration fees.
- The business setup in Mauritius can engage in the business of fund management, collective investment scheme, fund administrator etc.
Restrictions
- Two local directors are required
- Corporate directors are not allowed
- Directors meetings must be held in Mauritius
- A qualified local secretary is required
- Annual shareholders meeting is required
- A bank account must be held in Mauritius
- Must have a local auditor
Frequently Asked Questions on Mauritius
GBC1 are offshore companies which are entitled to pay a low percentage of tax. These company formations must have a base in Mauritius. GBC2 are real offshore company formations with no tax of any kind levied.
Yes, tax residency certificate issued by the Commissioner of Income Tax in Mauritius is required.
- Must have two resident directors in Mauritius
- Must have board meetings within Mauritius
- Maintain an account with a local bank
- Maintain a registered office and all statutory records in Mauritius
- Have a local company secretary and local auditor
Belgium, Botswana, China, Croatia, Cyprus, France, Germany, India, Indonesia, Italy, Kuwait, Luxembourg, Madagascar, Malaysia, Mozambique, Namibia, Nepal, Oman, Pakistan, Rwanda, Senegal, Singapore, Sri Lanka, South Africa, Swaziland, Sweden, Thailand, United Kingdom, Zimbabwe and Uganda.
Yes, it is possible to convert GBC1 to GBC2.
