The Companies Division of the Mauritius Corporation and Business Registration department is responsible for the incorporation of offshore companies. Mauritius companies are regulated under the Companies Act 2001. Companies registered in Mauritius benefit from tax treaties and also their is no capital gains and dividend withholding tax.
We are able to incorporate a company for you in Mauritius. The most common forms of incorporation in this country are the Global Business Category 1 (GBC 1) and the Global Business Category 2 (GBC 2).
A company holding a Category 2 Global Business License is often used for trading and investment, these companies are not resident for tax purposes. Beneficial ownership of a company holding a Category 2 Business Licence is not disclosed to the authorities. A Mauritius Company holding a Category 2 Global Business License is, non-resident for tax purposes.
Changes to the constitution, directors, authorised agents or their addresses, registered office and name must be notified to the Registrar within a month of the change.
GBC 1 companies are considered as resident in this jurisdiction, hence benefit from various Double Taxation Treaties that Mauritius holds with other countries. The business license obtained by GBC 1 companies is extremely broad and allows the company to engage in almost any business activity, although for certain financial services additional licenses from the Financial Services Commission (FSC) are required.
GBC 1 companies are permitted to trade within Mauritius and with residents, on the condition that prior approval from the FSC is granted.
GBC 1 companies are required to prepare and file annual audited financial statements, in accordance with International Acceptable Accounting Standards, within 6 months following the financial year end. This is in addition to keeping company registers, accounting records, directors' reports, meeting minutes and other reporting documents at the companies registered office. This information is not available for public inspection.
All companies must have a registered office in Mauritius where documents may be legally served and corporate records may be kept. We are able to provide this for you as part of our incorporation package.
Once incorporated, GBC 1 entities may be converted into GBC 2 entities.
A Category 2 Global Business Company is required to have a Registered Agent in Mauritius. A Management Company must act as the Registered Agent of a company holding a GBC 2 licence.
GBC 2 entities are used for the purpose of holding assets and conducting business outside of Mauritius, they are not considered to be resident in this jurisdiction and therefore do not benefit from the countries double taxation treaties. However, all income generated (provided it is generated outside Mauritius) is completely tax exempt.
GBC 2 entities are required to prepare financial accounts, but these do not need to be audited, filed or be available for public inspection.
All domestic Mauritius companies must file an Annual Return together with accounts, failure to file the Annual Return is an offence and the company may be liable for prosecution. Mauritius Companies holding a Category 2 Global Business License are required to maintain financial statements but, not required to file accounts with the authorities.
There is an annual fee payable to the Registrar of Companies under Part I of the Twelfth Schedule of the Companies Act 2001, this must be paid to ensure the company or commercial partnership remains in good standing.