Registration of Company in Mauritius – GBC I Company

Number of Directors

Corporate income tax

3.0

Financial statements

Yes

Cost of registration

from 5800 USD

The cost of the second year

from 5550 USD

Registration of Company in Mauritius – GBC I Company: regulations and features Set of corporate documents General information Corporate information Shares and share capital Taxation Company structure Shareholder and beneficiary Reporting

Company registration in Mauritius

The Republic of Mauritius is an island state in East Africa, located near Madagascar. Mauritius offers a variety of tax incentives, which attracts foreign investment. In addition, its favourable location is beneficial for concluding business deals.

Corporate Features of Mauritius

Mauritius offers ones of the most loyal tax rates in the world. Both corporate and individual income tax equal to 15%. Offshore companies that do not operate within the jurisdiction and do not use its currency are completely exempt from taxes.

Mauritius enjoys preferential access to the largest emerging markets, including the EU and the United States.

Foreign nationals residing in Mauritius for at least 3 years, receiving salaries above a certain minimum, can apply for permanent residence with the right to purchase real estate in the republic.

The report, published by the International Monetary Fund in 2012, states that growth prospects in the state as a whole are positive, and the Mauritanian policy on monetary funds and exchange rates is satisfactory.

Among the advantages of establishing offshore in Mauritius there is a high level of protection of private information (achievabledue to correct incorporation of the firm).

There is no Register of Beneficial owners in Mauritius, therefore information about owners and beneficial owners is strictly confidential.

Main features of companies in Mauritius

The most attractive are 2 types of registered companies: GBC I and AC.

Global Business Company I

GBC I (onshore):

GBC 1 is not entitled to be engaged in banking, insurance business and management of third party monetary assets according to power of attorney without a corresponding license;
Office in Mauritius is required;
Profit is taxed at a rate of 3%;
Appropriate reporting should be submitted;
Conducting an audit is necessary ;
2 resident directors (natural persons) are required;
1 shareholder (residence does not matter);
A licensed secretary (resident) is required;
Must have adequate level of expenditure and number of staff:

Type of activity	Costs	Minimum number of staff
Holding	15 000$	At least 1 employee
An intellectual property holding	12 000$	Minimal number is not set

Authorised Company (AS)

AS (offshore):

AS is required to have a registered office;
Is taxed at a rate of 3%;
AS is required to submit the reporting;
Audit is conducted;
1 director (natural or legal person, residence does not matter);
It is necessary to obtain a license for the type of activity;
Presence of a secretary is not necessary;
Must have adequate level of expenditure and number of staff:

Type of activity	Costs	Minimum number of staff
Management company	30 000$	Asset under management lesser than 100 000$ - 1 employee Asset under management bigger than 100 000$ - 2 employees Asset under management bigger than 500 000$ - 3 employees
Investing Consultant	30 000$	1 employee
Insurance companies, Credit Institutions	100 000 $	From 1 to 3, depens on company's turnover

Financial regulation is governed by the following legislative acts:

Offshore Business Activities (Companies) Regulations 1995;
Finance Act 2018;
Offshore Insurance Regulations 1992;
Mauritian Offshore Business Activities 1992;
Securities Act 2005;
Stock Exchange 1988;
The Trusts 2001.

One of the world's largest financial conglomerates - HSBC - was created in Mauritius. It contains 11 branches within the island, 1 local subsidiary, engaged in offshore banking services.

Democratically elected government, based on the Westminster model, is stable since the country's independence was recognized. Legislative base originates in French civil and English common law. Thus, establishment of a company in the territory of jurisdiction is not only profitable, but also reliable investment.

You will solve all the formalities as soon as possible with the specialists of Law&Trust International. To get detailed advice and assistance in registering a business in Mauritius, you can contact the lawyers of Law&Trust International.