News: Registration of business in Mauritius
How to open a business in the Mauritius?
In the South East of the Indian Ocean, near the coast of Africa, a small island state called Mauritius is situated. Due to its convenient location, hundreds of thousands of tourists and businessmen visit it. In addition, the island can boast favoured financial climate and flexible tax policy that positively affects the overall development of the country's economy.
Business in Mauritius
According to the recent study by DOING JONES, business in Mauritius, by the easiness of its setting up, and by the simplicity of fiscal policy, is at the highest positions of the top rankings, approaching by its criteria to the leading European countries. The local government acceded to the appropriate international agreements to exclude the application of double taxation.
The activity of the companies here is regulated by the so-called COMPANIES ACT adopted in 2001. According to this Law there are 2 main types of companies in the territory of Mauritius:
- GBC 1 - international business company of category 1.
- Profits are taxed. It has the right to conduct activities both on the territory of the island and beyond it. There is a requirement for authorized capital. A license is required. Annual audit and periodic financial reports.
- GBC 2 - international business company of category 2.
- Profits are not taxed. It has no right to conduct activities on the territory of the island, only beyond its borders. There are no requirements to the authorized capital. No license is required. There is no need for audit.
- Business in Mauritius is characterized by numerous advantages, such as:
- Simple registration procedure;
- Absence of currency control;
- Low tax rates;
- Strict observance of the legislation on double taxation;
- Existence of bilateral agreements on attracting investment with a number of countries;
- Free repatriation of capital;
- High confidentiality;
- Friendly relations with Europe, India and China.
Accession to the new international obligations preventing money laundering and terrorism financing contributes to enhancing the reputation of Mauritius.
Registration of business in Mauritius
Simplistically, the process of opening a business consists of several stages:
- Reservation of the name of a company. It can be carried out in the office of the Register of Companies, as well as on-line on the agency's website;
- Notification of local authorities of the opening, followed by inspection by appropriate structures, such as the police department, the sanitary and epidemiological service, the fire department and others. No inspection data are payable;
- Payment of license fee. A compulsory package of documents is provided at the same time: a tax return (for GBC 1), a company registration certificate, municipal services permits, identity documents of the founder, a short business plan, an extract from the bank;
- Conclusion of the contract with the social insurance division. It ends with getting a seal.
Registration of business in Mauritius takes no more than 2 weeks.
Request for services in our company to get a qualified consultation will allow you to reduce your time and costs on independent investigation of the intricacies of this state legislation. With our help, registration of business in Mauritius, will allow you to carry out all the necessary activities without interruption from your main occupation.
We register companies all over the world.
Please, select organizational and legal form of the company You are interested in:
For reference:
There are tax-exempt Global Business companies of 2 type (GBC 2) and taxable Global Business companies of 1 type (GBC 1) in the country.
The company registered in Mauritius has the right to receive the status of tax-exempt company (GBC 2), only when it is owned and managed exclusively by non-residents of Mauritius, and provided that such GBC 2 company does not conduct any activities in Mauritius.
In order to the Global Business Company can enjoy advantages of agreements on avoidance of double taxation in Mauritius, it must be registered as tax resident (GBC 1) and obtain the Certificate of Tax Residency, and for this purpose there should be appointed local directors (at least 2) and secretary. At the same time, all shareholders are entitled to be non-residents of Mauritius.
