Mauritius company registration


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Effective 1 January 2019, the Mauritius government abolished the Category 2 Global Business License (GBC2) company, and introduced a new entity, called the Authorized Company (AC). Furthermore, Category 1 Global Business License (GBC1) companies are now simply known as the Global Business Company (GBC).

Compare different Mauritius entitiesNon-resident companyGBCInvestment fundCIS fundLimited Liability Partnership
Locally known asAuthorized company (AC)Global Business Company (GBC)Investment fundCollective Investment SchemeLLP
Best use of entity?Global tradingHolding CompanyAsset managementPortfolio InvestmentsProfessional services
License required before invoicing global customers?Yes (Authorized Company License)Yes (GBC license)YesYesNo
How soon can you invoice Clients/sign sales contracts?1 month1 month6 months6 months1 month
How soon can your Firm hire staff?Local staff not allowed1 month1 month1 month1 month
How soon can you sign a lease agreement?Local lease not allowed1 month1 month1 monthImmediately
How long to secure corporate bank account numbers?2 months2 months3 months3 months2 months
How long to secure company registration/tax numbers?3 weeks3 weeks3 weeks3 weeks2 weeks
How long to secure license certificate?1 month1 month5 months5 monthsNot required
Mauritius corporate tax rate on annual net profits? (foreign sourced income)0%3%3%3%0%
Mauritius corporate tax rate on annual net profits? (locally sourced income)local trading not allowed15%15%15%0%
Limited liability entity?YesYesYesYesYes
Resident director required?NoYes (at least 2)Yes (at least 2)Yes (at least 2)Yes (at least 2)
Company secretary legally required?RecommendedYesYesYesYes
Management Company requiredYesYesYesYesYes
Minimum/recommended paid up share capital?US$1US$15% of funds raised from investorsDepends on license applied forUS$1
Our recommended corporate bank account location?ABC BankMCBBank One MauritiusAfrasia BankABC Bank
VAT payable on sales to local customers?NA15%15%15%15%

See full table

Accounting and tax considerationsNon-resident companyGBCInvestment fundCIS fundLimited Liability Partnership
Statutory corporate tax payable? (foreign sourced income)0%3%3%3%0%
Statutory corporate tax payable? (locally sourced income)local trading not allowed15%15%15%0%
Legally tax exempt in Mauritius if no locally sourced income?YesNoNoNoYes
Must file an annual tax return?YesYesYesYesNo
Must file annual financial statements?Yes (financial summary)YesYesYesYes (statement of income)
Must always appoint an auditor?NoYesYesYesNo
Can have access to Access to Mauritius DTAAs?NoYesYesYesNo
Withholding tax on dividends to foreign shareholders?NoneNoneNoneNoneNone
Entity registration considerationsNon-resident companyGBCInvestment fundCIS fundLimited Liability Partnership
Resident director/partner/manager/legal representative required?NoYesYesYesYes
Management Company requiredYesYesYesYesYes
Appointment of a local company secretary required?No but RecommendedYesYesYesYes
Minimum number of shareholders/partners?11112
Minimum number of directors/managers?12221
Minimum/recommended paid up share capital?US$1US$15% of funds raised from investorsVaries across licensesUS$1
Can secure a financial services license?NoYesYes (required)Yes (required)Yes
Must appoint a local custodian?NoNoCan be requiredCan be requiredNo
Shelf companies available?NoNoNoNoNo
Must sign an office lease agreement during incorporation?NoNoNoNoNo
Can easily convert to a PLC / limited company?YesYesYesYesNo
Public register of entities?YesYesYesYesYes
Can have preference shareholders/partners?YesYesYesYesYes
Can bid for Government contracts?YesYesYesDepend on licenseYes
Recommended to secure Mauritius residence for business owner?NoYesYesYesYes
Government grants available?NoYesYesYesYes
Good entity for trademark registration?Yes
Can secure an import and export license?Yes
Monthly VAT reporting to the Government always required?No
Sponsorship by a local citizen required?No
Temporary physical office solutions available?Yes
You need a local resident as bank signatory?No
Can be wholly foreign owned?Yes
The entity will likely be regulated by?Financial Services Commission
Shareholders & directors documents to be attested/translated?Yes
Each foreign director needs a personal income tax number?No
Foreign non-resident director needs a residence visa?No
Maximum number of staff allowed?No maximum number
Expatriate to local staff ratio?None
Other useful informationMauritius Substance Requirements
What will be included in my customer sales invoice?Click link
This country has signed free trade agreements?Yes, 46 Double Taxation Agreements signed
This country is a member of WIPO/TRIPS?Yes
This country is a member of the ICSID?Yes
Average custom duties incurred?1.48% (2018 data)
Government foreign investment approval required?No
Average monthly office rental? (US$ per sq. m)US$20 (2017 data)
Minimum statutory monthly salary?MUR9,000 (US$245)
US$ deposit interest rate? (1-year average)3% (2017 data)
Overseas remittance currency controls?None
Group HQ tax incentives?No
Security deposit to be kept with Government?No
Can secure trade finance?Yes
Maximum shareholding for foreigners?100%
Banking considerations
Multi-currency bank accounts available?Yes
Corporate visa debit cards available?Yes
Quality of e-banking platform?Good
Crowd funding available in this country?Yes

Mauritius business setup summary

  • Problems with Mauritius company formation

    1. Mauritius is working hard to overhaul its poor global reputation as a tax haven jurisdiction. Consequently, there has been a considerable increase in procedures, bureaucracy, and substance requirements from Mauritian authorities;
    2. In its efforts to overhaul its global reputation, Mauritius has made a register of shareholders and directors available to the general public;
    3. Effective 1 July 2019, the Mauritius Government issued the Income Tax (Amendment No. 2) Regulations 2019, requiring all Mauritius entities to fulfil economic substance requirements by i) employing local staff ii) leasing a physical office and iii) conducting core income-generating activity in the country and iv) incurring a minimum expenditure proportionate to its level of activities;
    4. Although Mauritius has been working hard to overhaul its international reputation, the country is still globally viewed as an island tax haven jurisdiction. Clients establishing a Mauritius offshore company can attract additional scrutiny from tax authorities and banks;
    5. The tourism industry is partially closed to foreign investors looking for a business registration in Mauritius. For instance, foreigners cannot have a majority stake in a hotel with less than 100 rooms. They also need to make an initial investment of at least US$300,000 to open a restaurant in Mauritius;
    6. Additional registrations required for trade license and data protection office will delay the engagement by 6 weeks;

    Vulnerability to external shocks

    1. The island country is extremely dependent on tourism for its economic well-being, which makes it more vulnerable to external changes and shocks;
    2. While labor is easily available, it is difficult to get professionals in Mauritius, which is why there is a lot of untapped potential which can delay the speed of development and growth in the country;
    3. The legally tax-exempt Mauritius GBC2 license was abolished on January 1, 2019. An authorized company license will be given out instead.

Healy Consultants Group PLC does not recommend our Clients establish a business in Mauritius, due to the poor business environment provided by the Mauritius Government and Financial Services Commission to multi-national organisations. Healy Consultants Group PLC instead recommends our Clients establish their businesses in these reputable zero tax jurisdictions.

Contact us

For additional information on our services, please contact our in-house country expert, Mr. Kunal Fabiani, directly:
client relationship officer - Kunal