Mauritius Business Formation

With the help of Healy Consultants, Mauritius business formation is a simple process that brings forth many advantages. A properly structured Mauritius private limited company is an excellent medium through which international business can be conducted. The following information will help you determine whether Mauritius business formation is the optimum solution to meet your business objectives:
Types of Mauritius Business Formation
There are two main types of companies that can be incorporated in Mauritius - a GBC1 Company (Offshore Company) and a GBC2 (International Company). A GBC1 Company is particularly suited to public financial operations such as fund management whereas a GBC2 is ideal for holding private assets and investments, for international consulting business, international trading and licensing.
Advantages of GBC1 Mauritius Business Formation
1.	Mauritius company formation is a simple and cost-effective solution. According to the 2011 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.	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 12th freest economy according to the 2011 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.
Disadvantages of GBC1 Mauritius Business Formation
1.	Mauritius is the 46th least corrupt country in the world, according to the 2011 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 55th most competitive economy in the World Bank's Global Competitiveness Report 2010-2011.
For more information on a Mauritius GBC1 Company, refer to the Mauritius - webpage.
Advantages of a GBC2 Mauritius Business Formation
1.	Mauritius GBC2 company formation is simple and cost-effective. According to the 2010 Doing Business Survey by the World Bank, Mauritius is the world's 17th 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 is positively ranked as the world’s 12th freest economy according to the 2010 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. Following GBC2 set up, directors and shareholders details are not available for public viewing.
5.	A Mauritius GBC2 Company has no minimum capital requirements.
Disadvantages of GBC2 Mauritius Business Formation
1.	Mauritius is the 42nd least corrupt country in the world, according to the 2009 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 57th most competitive economy in the World Bank's Global Competitiveness Report 2009-2010.
4.	A corporation with 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. Also, an outline of company objectives must be submitted to the FSC, along with details of the identity of the promoter / beneficial owner / ultimate beneficial owner undertaking Mauritius business formation.
For more information on a Mauritius GBC2 Company, please refer to Mauritius GBC2 webpage.
Other Information
Refer to the following links to read more information on Mauritius business formation:
1.	Mauritius Jurisdiction Summary
2.	Mauritius Company Incorporation
3.	Mauritius corporate bank account
4.	Client case studies
5.	Other services to support Mauritius incorporation
6.	Frequently Asked Questions about Mauritius Company formation
7.	10 things you might not know about Mauritius
Contact Us
For more information on Mauritius Company formation, email email@healyconsultants or telephone us at (+65) 6735 0120.
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