Mauritius | Interstatus - Group of Companies Mauritius – Interstatus – Group of Companies

General jurisdiction information:

Mauritius (officially known as The Republic of Mauritius) is an island state in the western part of the Indian Ocean.

A picturesque landscape, surfing, diving, open sea fishing and numerous hotels offering seamless service are the main factors that attract crowds of tourists and active holiday fans from around the world.

The population of the country is around 1,300,000 and the capital city is Port Louis close by which there is an international airport.

The export of sugarcane, tourism, a services sector and revenue from companies incorporated in the country are the main sources of national income.

Mauritius is commonly recognised as a modern and trusted offshore centre with strong growth potential offering a variety of business opportunities. This is facilitated by diverse tax incentives, an advanced infrastructure and hi-tech telecommunications.

According to the regulations of The Financial Services Act of 2007 two types of company can be incorporated in Mauritius:

  • Global Business Company I (GBC I) has a number of incentives and may do business within the country and internationally. The operations of such company is taxable at reduced rates;
  • Global Business Company II (GBC II) is a conventional offshore formation operating totally outside of the country of incorporation and exempt from tax, however an annual fixed fee is imposed.

The official language is English.

The official currency is the Mauritian Rupee (MUR).

With the view to maintaining the good reputation of the country, the Government of Mauritius has adapted local legislation to fall in line with The International Money Laundering Prevention and Fighting of Terrorism Financing Rules.

Advantages of Mauritius companies:

  • Mauritius incorporated companies enjoy advanced and flexible legislation offering diverse incentives for business development;
  • There are no minimum or maximum capital requirements;
  • Companies may have just one shareholder;
  • There are no exchange controls;
  • Company re-domiciliation is available;
  • There are advanced infrastructure and telecommunications networks.

For GBC II companies:

  • Total confidentiality is enjoyed with beneficiary information inaccessible to third parties;
  • Nominee services are available;
  • Shares may be issued without par value;
  • Company administration is quite simple with minimum staff and the management of the company can be administered from any country;
  • The international business of a company is tax exempt;
  • There are no auditing requirements;
  • Meetings of the directors and shareholders may be held in any part of the world.

For GBC I companies:

  • Double Tax Treaties are applied for tax and corporate planning;
  • The income tax rate can be reduced to 3%;
  • There is no capital gains tax or taxation of dividends;
  • There are reduced tax rates on royalties and interest.

Mauritius companies incorporation process:

Director:

GBC II companies:

At least one director (a natural person or a corporation) is required and no residency qualification applies.

The director and the shareholder may be the same person.

We can offer the services of local (nominee) directors, in full compliance with local legislation, to administer the affairs of your company according to your instructions.

GBC I companies:

A minimum of two directors, who must be private individuals, are required.

Shareholder:

For GBC II companies, a minimum of one shareholder (a private individual or a corporate entity) is required and no residency qualification applies. At the request of the beneficiary we can provide nominee shareholders.

For GBC I companies, at least one shareholder (a natural person or a corporation) is mandatory.

Secretary:

For GBC II companies, a secretary is not required;

For GBC I companies, a secretary is mandatory.

Registered office:

Mauritius companies must have a registered office by Law.

Share capital:

For GBC II companies, there are no requirements for minimum or maximum share capital.

The recommended share capital is $100,000 divided into 100,000 shares with a nominal value of $1. Shares may be issued as registered shares without par value and bearer shares are prohibited.

For GBC I companies, the minimum capital is 2 shares with a nominal value;

Standard authorised capital is $100,000 divided into 100,000 shares with a nominal value of $1. Shares may be issued as registered or preference shares, with or without voting rights. Bearer shares are prohibited.

Registration period:

1-2 weeks but delivery of the full set of documents may need additional time.

Accounting and auditing:

GBC II companies must maintain accounts and submit annual aggregated financial statements to the Financial Services Commission. The documentation must be kept for at least 7 years.

GBC II companies are not required to carry out auditing.

GBC I companies must:

  • submit audited financial statements to the Financial Services Commission;
  • submit an annual tax declaration to the Tax Office;
  • maintain an internal register of directors and shareholders, keep minutes of the meetings of directors and shareholders and keep copies of resolutions and financial statements of the company;
  • notify the Financial Services Commission of any changes to the structure of the company within 1 month.

Financial documentation must be kept for a minimum of 5 years. If the documentation is kept outside Mauritius, the Company Registrar must be notified of the place of keeping such information with the statement that the documentation provides an accurate view of the financial position of the company and can be used to prepare financial statements for presentation to the tax office.

Any breach of financial documentation filing rules will incur a penalty on the company of up to MUR100,000 (around $2,500).

Information in the registers:

All companies must be registered by the Company Registrar.

Information on directors and shareholders is kept by the Company Registrar and the Financial Services Commission keeps information on the beneficiaries. Such information is not freely accessible by the public and can be disclosed only by a court order.

Mauritius taxation provisions:

Income generated by GBC II companies outside of the jurisdiction are tax exempt.

GBC I companies pay:

  • tax on income derived within the jurisdiction – 15%;
  • tax on income derived from operations outside Mauritius – 3%;
  • tax withholding at source on interest and royalties – 0 to 15%;
  • tax withholding at source on dividends and capital gains – 0%;
  • VAT – 0 to 15%.

For GBC II companies the annual government levy is:

  • with share capital of up to $100,000 – $100;
  • with share capital over $100,000 or if the shares were issued without par value – $300.

For GBC I companies the annual government levy is $1,500.

Double Tax Treaties:

The Republic of Mauritius maintains more than 35 Double Tax Treaties with such countries as the UK, Germany, China, Cyprus, Russia, Singapore, France, Italy, Malaysia, Indonesia, the United Arab Emirates and others.

1st year

BASIC
$3600
  • Company Incorporation
  • Government Fees
  • Corporate Document Set with Apostille
  • Registered Office
  • Agent Fees
  • Company Stamp
  • Courier
STANDARD
$4750
  • Company Incorporation
  • Government Fees
  • Corporate Document Set with Apostille
  • Registered Office
  • Agent Fees
  • Company Stamp
  • Courier
  • Nominee Director
  • Power Of Attorney with Apostille
  • Nominee Shareholder
PREMIUM
$5200
  • Company Incorporation
  • Government Fees
  • Corporate Document Set with Apostille
  • Registered Office
  • Agent Fees
  • Company Stamp
  • Courier
  • Nominee Director
  • Power Of Attorney with Apostille
  • Nominee Shareholder
  • Cyprus Bank Account Opening

2nd year

BASIC
$3200
  • Registered Office Fees
  • Registered Agents Fees
  • Government Fees
STANDARD/PREMIUM
$4350
  • Registered Office Fees
  • Registered Agents Fees
  • Government Fees
  • Nominee Director
  • Power Of Attorney with Apostille
  • Nominee Shareholder

*A renewal fee is payable by January 20th of every year irrespective of the registration date of the company. Please contact us for a detailed price list and additional information.