Mauritius company registration

Mauritius company registration is a simple process that brings forth many advantages. If properly structured, Mauritius company formation is a low cost, legally tax-efficient entity to conduct international business. Healy Consultants is ideally placed to advise on the best strategy for Mauritius business setup and provide a range of business startup and support services for Mauritius companies.



Advantages of Mauritius company registration

    Mauritius business advantage
  1. A Mauritius company formation can be incorporated within one week, with a minimum of one shareholder and one director of any nationality. The minimum paid up share capital is US$1 and our Client will not need to travel to complete Mauritius business setup engagement;
  2. Mauritius business setup is simple and cost-effective, which is an advantage for entrepreneurs interested in Mauritius company formation. According to the 2013 Doing Business Survey by the World Bank, Mauritius company formation is the world’s 20th easiest place to do business. The survey measures factors including Mauritius business setup procedures, time, cost and minimum capital required to start a business;
  3. A Mauritius business setup enjoys access to over 30 double tax treaties signed with countries around the world;
  4. A Mauritius GBC1 is considered tax-resident in Mauritius, and corporate profits are taxed at 15%. However, tax credits are available which may bring the effective tax rate down to 3%. A GBC1 is not subject to capital gains tax or withholding tax. A Mauritius GBC2 Company is exempt from all taxes on income derived outside Mauritius. There is no income tax in Mauritius;
  5. There are no minimum capital requirements with a Mauritius GBC2 offshore company, which is a benefit for entrepreneurs interested in Mauritius business setup. Also, directors and shareholders details are unavailable for public viewing;
  6. English is spoken by 90% of Mauritians which makes it easier for foreign investors to communicate with local suppliers and customers.
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Disadvantages of Mauritius company registration

  1. Mauritius is ranked as the world’s 45th most competitive economy by the Global Competitiveness Report 2013 – 2014, compiled by the World Economic Forum;
  2. Mauritius corporate tax

  3. A Mauritius GBC2 company does not have access to the 34 double tax treaties Mauritius has signed;
  4. Under the Finance Act 2009, a corporation holding a Category 2 Global Business License (“GBL 2″) is required to file with the Financial Services Commission annually. A GBL 2 is required to submit the financial summaries within 6 months of the balance sheet date. Details of the identity of the promoter/beneficial owner/ultimate beneficial owner, along with an outline of company objectives must be submitted to the FSC.
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Additional information

If properly structured, a Mauritius Global Business Category 1 (GBC1) Company can be used by foreign companies to structure investments and projects in countries with which Mauritius has signed double tax agreements, including China, India, Singapore and the UK. The following information will help you determine whether a Mauritius GBC1 company is the optimum corporate structure to fulfill your international business objectives:

Advantages of a Mauritius GBC1 company

  1. Mauritius company formation is a simple and cost-effective solution. According to the 2013 Doing Business Survey by the World Bank, Mauritius is the world’s 20th easiest place to do business. The survey measures factors including Mauritius company formation start up procedures, time, cost and minimum capital required to start a business;
  2. A minimum of one shareholder is required, who can be of any nationality and need not be resident in Mauritius. Corporate shareholders are permitted. Additionally, Mauritius was positively ranked as the world’s 8th freest economy according to the 2013 Index of Economic Freedom by The Heritage Foundation, a measure of freedom enjoyed in business, trade, monetary, financial, investment and labour markets;
  3. A Mauritius GBC1 is considered tax-resident in Mauritius, and corporate profits are taxed at 15%. However, tax credits are available which may bring the effective tax rate down to 3%. A GBC1 is not subject to capital gains tax or withholding tax;
  4. Unlike a Mauritius GBC2 company, a GBC1 enjoys access to over 30 double tax treaties signed with countries around the world;
  5. There are no minimum capital requirements for a Mauritius GBC1.
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Disadvantages of a Mauritius GBC1 company

  1. Mauritius company registration is perceived as a ‘tax haven’ jurisdiction. In addition, Mauritius is the 52nd least corrupt country in the world, according to the 2013 Corruption Perceptions Index by Transparency International, a global measure of corruption amongst public officials and politicians;
  2. In accordance with the Mauritius Companies Act 2001, a Mauritius GBC1 requires a minimum of two resident directors in order to access Mauritius’ double tax avoidance treaties. Corporate directors are not permitted;
  3. In accordance with Mauritius accounting and tax law, a Mauritius GBC1 is required to submit annual audited financial statements to the Mauritius Financial Services Commission and income tax authorities;
  4. A Mauritius GBC1 is required to conduct principle bank accounts and transactions through a Mauritius corporate bank account;
  5. Mauritius is poorly ranked as the world’s 45th most competitive economy in the World Economic Forum’s Global Competitiveness Report 2013 – 2014.
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If properly-structured, forming a Mauritius Global Business Category 2 (GBC2) Company is a low-cost, legal, tax-efficient way through which international business can be conducted. The following information will help you determine whether a Mauritius GBC2 Company is the optimum corporate structure to fulfill your international business objectives:

Advantages of a Mauritius GBC2 company

  1. Mauritius company formation is a simple and cost-effective solution for offshore holding or ownership of investments and assets, commercial transactions, international trade and asset protection. According to the 2013 Doing Business Survey by the World Bank, Mauritius is the world’s 20th easiest place to do business. The survey measures factors including business start up procedures, time, cost and minimum capital required to start a business;
  2. Mauritius company formation is positively ranked as the world’s 8th freest economy according to the 2013 Index of Economic Freedom by The Heritage Foundation, a measure of freedom enjoyed in business, trade, monetary, financial, investment and labour markets;
  3. A Mauritius GBC2 Company is exempt from all taxes on income derived outside Mauritius. There is no income tax in Mauritius;
  4. A GBC2 can be 100% foreign owned. A minimum of one shareholder and one director is required to form a Mauritius GBC2 Company and corporate directors are permitted;
  5. A Mauritius GBC2 Company has no minimum capital requirements.
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Disadvantages of a Mauritius GBC2 company

  1. Mauritius is the 52nd least corrupt in the world, according to the 2013 Corruption Perceptions Index by Transparency International, a global measure of corruption amongst public officials and politicians;
  2. Unlike a Mauritius GBC1 company, a GBC2 does not have access to the 28 double tax treaties Mauritius has signed;
  3. Mauritius is poorly ranked as the world’s 54th most competitive economy in the World Bank’s Global Competitiveness Report 2013 – 2014;
  4. A Mauritius GB2 category company is required to file annual reports with the Financial Services Commission. A GBL 2 is required to submit the financial summaries within 6 months of the balance sheet date. Details of the identity of the promoter/beneficial owner/ultimate beneficial owner, along with an outline of company objectives must be submitted to the FSC.
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GBC1 company incorporation costs in Year 1 amount to US$2,550 and annual company costs in Year 2 and thereafter amount to US$1,950. The average total fees per Mauritius business setup costs US$9,850, including company formation, company secretary, and corporate bank account.

GBC2 company incorporation costs in Year 1 amount to US$2,900 and annual company costs in Year 2 and thereafter amount to US$1,650. The average total fees per Mauritius business setup costs US$6,950, including company incorporation, company secretary, and corporate bank account.

Refer to draft invoice embedded here.

 
GBC1 FEES
GBC2 FEES
Year 1 incorporationUS$2,550US$2,900
Annual fees from Year 2US$1,950US$1,650
Resident director feeUS$3,600 **US$3,600 **
Company de-registrationUS$4,450US$1,450
** Excludes US$1,100 refundable deposit.** Excludes US$1,100 refundable deposit.
Click attached to view invoicesMauritius GBC1 draft invoiceMauritius GBC2 draft invoice

Corporate banking options

  • To receive the best internet banking and customer service to support Mauritius company incorporation, Healy Consultants recommends using the services of international banks HSBC, Standard Chartered and Citibank for most corporate bank account solutions. Local banks can be used where appropriate for the Mauritius company;
  • Healy Consultants Compliance Team can open an international corporate bank account within 3 – 4 weeks of Mauritius company formation. There is a 50% chance that the Client will have to travel , in order to open the account, though Healy Consultants makes every effort to minimize this probability to support the process of incorporating in Mauritius. Following bank account approval, the preferred bank will directly and independently email our Clients the corporate bank account number;
  • Mauritius-based banks will provide finance to locally-registered companies provided the following conditions are met i) good business plan ii) availability of security iii) experience of business owners iv) last 3 years audited financial statements v) realistic feasibility study vi) project strength and weaknesses analysis (SWOT);
  • To support Mauritius business registration, Healy Consultants assists Clients with trade finance tasks including i) bank guarantees ii) letters of credit iii) finance against trust receipt iv) document against payment and against acceptance;
  • Healy Consultants assists in securing corporate finance in the form of a loan, overdraft or simply preferential credit terms are other corporate banking related aspects of doing business in Mauritius to support Mauritius company incorporation;
  • Banks in Mauritius provide the full range of corporate bank account facilities including multiple currencies, internet banking, telephone banking, checking accounts, savings accounts, debit and credit cards, fixed term deposits and wealth management services.
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Success tips when doing business in Mauritius

    Mauritius business tips
  1. Your joint venture partner or Mauritius shareholder must not merely be a nominee for the sake of meeting the rules of foreign company incorporation. You should choose a partner that actually brings a lot to the table, including local knowledge your business would need in Mauritius;
  2. To optimize the success of your new business venture in Mauritius, Healy Consultants recommends your firm i) complete a feasibility study ii) prepare a detailed business plan iii) communicate with the Mauritius Chamber of Commerce iv) speak to your local embassy in Mauritius and v) communicate with Healy Consultants Clients who successfully launched their Mauritius business setup;
  3. Foreign companies should be aware i) Mauritius statistics and market data are usually imprecise ii) transactions tend to take longer than expected iii) more frequent and longer market visits are required, at least initially iv) complex business procedures are common;
  4. An essential factor in setting up a company in Mauritius is to thoroughly research the business sector you are planning to invest in. Healy Consultants recommends our Client prepare a detailed business plan including an extensive market study and evaluation of competitors.
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Did you know about Mauritius?

  1. The country of Mauritius has the shape of a leaf and was created by the eruptions from underwater volcanos;
  2. Sugarcane is planted on 90% of the Mauritius land and is regarded as the top money earner for the country. Sugar is the major export of the country along with clothing, tea, and jewellery;
  3. Most of the food in Mauritius including rice, vegetables, and lentils are imported. Therefore, food in Mauritius is very expensive;
  4. Mauritians are relatively conservative, walking around wearing shorts or bathing suits are prohibited in most hotels;
  5. The population of Mauritius consists of four ethnic groups that are Indo-Mauritian (68%), Creole (27%), Sino-Mauritian (3%), and Franco-Mauritian (2%).
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Useful links

External readings


The following are some of the most frequently asked questions about Mauritius company formation:

What are the main types of Mauritius Company?


Mauritius has two main types of company through which you can conduct international business – a GBC1 company (Offshore Company) and a GBC2 company(International Company).

What can these Companies be used for?


A GBC1 Company is particularly suited to public financial operations such as fund management. A GBC2 is ideal for holding private assets and investments, for international consulting business, international trading and licensing.

What are the tax implications of a GBC1 Company?


Corporate profits are taxed at 15%. However, tax credits are available which may bring the effective tax rate down to 3%. A GBC1 is not subject to capital gains tax or withholding tax.

What are the main advantages of a GBC1 Company?


Mauritius has signed Double Taxation Treaties with several countries (including China, France, Germany, India, Indonesia, Italy, Malaysia, Singapore, South Africa and the UK). Only a Mauritius-resident Company (GBC1) can take advantage of these agreements.

What are the reporting requirements for a GBC1?


A GBC1 is required to submit an annual return or audit.

How private is a GBC1?


There is no public register of directors and shareholders for this type of Company.

Are there any restrictions on ownership of a GBC1?


No. A foreigner can own 100% of a Mauritius GBC1.

What is the minimum number of shareholders and directors required to form a GBC1?


A minimum of one shareholder is required, who can be of any nationality and need not be resident in Mauritius. Corporate shareholders are permitted. In accordance with the Mauritius Companies Act 2001, a Mauritius GBC1 requires a minimum of two resident directors in order to access Mauritius’ double tax treaties.

What are the minimum capital requirements for a GBC1 Company?


There are no minimum capital requirements to form a GBC1 Company.

What are the main tax advantages of a GBC2 Company?


It is tax-free if properly structured.

What are the reporting requirements for a GBC2?


Under the Finance Act 2009, a corporation holding a Category 2 Global Business License (“GBL 2”) is required to file with the Financial Services Commission annually. A GBC2 is required to submit the financial summaries within 6 months of the balance sheet date. Details of the identity of the promoter/beneficial owner/ultimate beneficial owner, along with an outline of company objectives must be submitted to the FSC.

How private is a GBC2?


There is no public register of directors and shareholders for this type of Company.

Are there any restrictions on ownership of a GBC2?


No. A foreigner can own 100% of a Mauritius GBC2.

What is the minimum number of shareholders and directors required to form a GBC2?


Only one shareholder and director is required. Nominee shareholders and directors are permitted.

What is the main difference between a GBC1 and GBC2?


A GBC1 has access to and can benefit from Mauritius’ network of double tax agreements, while a GBC2 (also known as a International Company) cannot. Additionally a Mauritius GBC2 Company is exempt from all taxes on income derived outside Mauritius.

Do a GBC1 and GBC2 Company require a company Secretary?

Yes, a company secretary is required for both GBC1 and GBC2 Company.


Contact us

For additional information on Mauritius company formation, you can email us at email@healyconsultants.com or phone us in Mauritius at (+64) 4831 8737. Address: 8th Floor, Tower A, 1 Cybercity, Eben, Mauritius.