Mauritius Company Formation
Mauritius is a popular jurisdiction for company formation, especially for non-residents. It offers a stable economy, favorable tax regime, and strategic location. This makes it an attractive and cost-effective option for international business and investment.
- Time of Mauritius company formation takes around 3 WEEKS.
- Personal presence not required
- Popular Mauritius Company formation types:
- Global Business Company (GBC)
- Authorized Company (AC)
- Limited Liability Company (LLC)
Mauritius Company Formation Main Characteristics and the basic rules of Company registration in Mauritius.
Mauritius, a stunning island nation in the Indian Ocean, has emerged as a respected and attractive jurisdiction for Mauritius company formation. Its stable political environment, robust legal framework, and strategic location make it a compelling choice for businesses seeking to expand their global reach and optimize their operations. This guide provides an overview of forming a company in Mauritius, focusing on the opportunities and considerations for non-residents.
A Comprehensive Guide for Non-Residents to Register a Company in Mauritius
Why Choose Mauritius for Company Formation?
Mauritius offers a compelling blend of benefits that attract international investors. It’s not just a tax haven; it’s a well-regulated and transparent jurisdiction with a strong commitment to international best practices.
Guide to Forming a Company in Mauritius
This guide will walk you through the process of establishing your business presence in Mauritius. We’ll cover the key aspects, from choosing the right company type to navigating the registration process.
Types of Companies for Non-Residents in Mauritius
Non-residents have several options when considering Mauritius company formation. The most common types include:
- Global Business Company (GBC): GBCs are ideal for conducting business outside of Mauritius. They are subject to specific licensing requirements and are often used for investment holding, trading, and other international activities.
- Authorised Company (AC): ACs are simpler to set up than GBCs and are suitable for businesses that conduct their core income-generating activities outside of Mauritius. They are not subject to Mauritian tax on their foreign-sourced income.
- Limited Liability Company (LLC): A standard company structure, suitable for various business activities.
Advantages of Mauritius Company Formation for Non-Residents
- Tax Benefits: Mauritius offers a favorable tax regime, including low corporate tax rates and exemptions on certain types of income. The island also has an extensive network of Double Taxation Avoidance Agreements (DTAAs) with numerous countries, further optimizing tax efficiency.
- Strategic Location: Mauritius serves as a bridge between Africa, Asia, and Europe, making it an ideal hub for international trade and investment.
- Political and Economic Stability: Mauritius boasts a stable political system and a well-developed economy, providing a secure environment for businesses.
- Modern Legal Framework: The legal system is based on English common law and French civil law, providing a familiar and reliable framework for international investors.
- Skilled Workforce: Mauritius has a well-educated and multilingual workforce, making it easier to find qualified employees.
- Confidentiality: Mauritius offers a degree of confidentiality for company owners and shareholders, while adhering to international transparency standards.
Disadvantages of Mauritius Company Formation for Non-Residents
- Substance Requirements: To benefit from tax advantages, companies must demonstrate sufficient substance in Mauritius, including having a physical office, employees, and conducting core business activities on the island.
- Compliance Requirements: Mauritius has strict compliance requirements, including annual audits and reporting obligations.
- Perception: While Mauritius is a reputable jurisdiction, some may still perceive it as an offshore tax haven, which could raise concerns with certain stakeholders.
- Cost: Setting up and maintaining a company in Mauritius can involve costs such as registration fees, legal fees, and accounting fees.
What is Required for Company Registration in Mauritius?
The requirements for Mauritius company formation vary depending on the type of company you choose. Generally, you will need to provide:
- Company name
- Registered office address in Mauritius
- Details of directors and shareholders (including KYC documentation)
- Business plan
- Memorandum and Articles of Association
- Proof of funds
Procedure for Mauritius Company Formation
The process of Mauritius company formation typically involves the following steps:
1. Consultation and Planning: Discuss your business objectives with our professionals to determine the most suitable company structure and ensure compliance with all relevant regulations.
2. Name Reservation: Reserve your desired company name with the Registrar of Companies.
3. Document Preparation: Prepare all necessary documents, including the Memorandum and Articles of Association, and gather KYC (Know Your Customer) documentation for directors and shareholders.
4. Application Submission: Submit the application for company registration to the Registrar of Companies.
5. Licensing (if applicable): Obtain any necessary licenses or permits for your specific business activities. This is particularly relevant for GBCs.
6. Bank Account Opening: Open a corporate bank account in Mauritius.
7. Registration with Relevant Authorities: Register with the Mauritius Revenue Authority (MRA) for tax purposes and obtain a Tax Identification Number (TIN).
Timeframe for Company Formation
The timeframe for Mauritius company formation can vary depending on the complexity of the structure and the efficiency of document preparation. Generally, it takes approximately 2-4 weeks to complete the registration process, assuming all required documentation is readily available and in order. Obtaining specific licenses, such as a GBC license, may extend this timeframe.
How We Can Help You with Our Professionals
Navigating the intricacies of Mauritius company formation can be challenging, especially for non-residents. Our team of experienced professionals provides comprehensive support throughout the entire process, ensuring a smooth and efficient setup. We offer:
- Expert Consultation: We provide tailored advice on the most suitable company structure for your specific business needs and objectives.
- Document Preparation: We assist with the preparation of all necessary documents, ensuring compliance with Mauritian regulations.
- Application Submission: We handle the submission of your company registration application to the Registrar of Companies.
- Licensing Assistance: We guide you through the licensing process, ensuring you obtain all necessary permits for your business activities.
- Bank Account Opening Support: We assist with opening a corporate bank account in Mauritius.
- Ongoing Compliance Support: We provide ongoing support to ensure your company remains compliant with all relevant regulations, including annual audits and reporting obligations.
- Tax Advisory Services: We offer expert tax advice to help you optimize your tax position and take advantage of the benefits offered by the Mauritian tax regime.
- Registered Office Services: We can provide a registered office address in Mauritius, fulfilling a key requirement for company registration.
- Company Secretarial Services: We offer company secretarial services to ensure your company complies with all statutory requirements.
By partnering with us, you can leverage our expertise and experience to streamline the Mauritius company formation process and focus on growing your business. We are committed to providing you with the highest level of service and support, ensuring your success in Mauritius. Contact us today to discuss your specific needs and learn how we can help you establish your business presence in this thriving international business hub. We are your trusted partner for Mauritius company formation
FAQ – Taxation for Offshore Companies in Mauritius
1. What is the corporation tax rate for offshore companies in Mauritius?
The corporation tax rate for offshore companies in Mauritius is 15%. However, companies benefiting from the Global Business License (GBL) can opt for an effective tax rate of 3% on specific qualifying income. This competitive rate makes Mauritius an attractive destination for offshore businesses.
2. How is income tax applied in Mauritius?
In Mauritius, the personal income tax rate is progressive, ranging from 10% to 15%. However, offshore employees, including directors of global business companies, are often exempt from personal income tax if they meet specific criteria and their income is sourced outside Mauritius.
3. What is the VAT rate in Mauritius?
Value Added Tax (VAT) in Mauritius is levied at a standard rate of 15%. However, offshore companies engaged in international activities may be exempt from VAT, provided they adhere to the regulations set by the Mauritius Revenue Authority (MRA).
4. Are dividends taxed in Mauritius?
Dividends paid to shareholders are generally not subject to tax in Mauritius for offshore companies. This is part of the country’s effort to promote foreign investment. However, it’s crucial to consider the tax regulations of the recipient’s country to ensure compliance.
5. What other taxes apply to offshore companies in Mauritius?
Beyond corporation tax, offshore companies in Mauritius may be subject to a few other taxes including:
- Property tax: A nominal rate applied on property held in Mauritius.
- Transfer tax: Imposed on property transfers, generally set at 5%.
- Withholding tax: Applicable on certain payments (e.g., royalties or interest) to non-residents. The rate can vary, but many payments are potentially exempt.
For the most accurate and tailored tax advice, consulting with a local tax professional is recommended.
FAQ: Company Registration in Mauritius
What is the process for forming a company in Mauritius as a non-resident?
Forming a company in Mauritius as a non-resident involves several steps. First, you need to choose a business structure, such as a Global Business Company (GBC) or an Authorized Company. You will then need to provide necessary documents, such as identification and proof of address, and appoint a local registered agent. The next step is to draft the company’s constitution and submit it, along with the registration application, to the Companies and Business Registration Department. It typically takes a few days to process the registration.
What are the requirements for non-residents to set up a company in Mauritius?
Non-residents looking to set up a company in Mauritius need to comply with specific requirements. These include having at least one director who is a resident of Mauritius and having a registered office in the country. Additionally, non-residents must provide due diligence documents, which includes a copy of their passport, proof of residence, and information about their business activities. It’s essential to work with a local professional service provider to navigate the regulations effectively.
Are there any tax advantages for non-residents forming a company in Mauritius?
Yes, Mauritius offers several tax advantages for non-residents forming a company. The corporate tax rate is generally low, with many companies benefiting from a rate of 15% or lower for Global Business Companies. Additionally, Mauritius has numerous double taxation treaties in place, which can further minimize tax liabilities for non-residents. Moreover, foreign investors can repatriate profits without restrictions, making it an attractive choice for offshore business activities.
Can a non-resident conduct business in Mauritius directly?
Yes, a non-resident can conduct business in Mauritius, but they would typically do so through a registered company. Unincorporated entities cannot directly operate a business in Mauritius. By setting up a company, non-residents can benefit from the country’s favorable business environment, robust regulatory framework, and access to regional markets. This setup not only legitimizes the business activities but also provides legal protection and credibility.
What types of companies can non-residents establish in Mauritius?
Non-residents can establish various types of companies in Mauritius, primarily Global Business Companies (GBCs) and Authorized Companies. GBCs are suitable for those intending to conduct business internationally and take advantage of the country’s tax treaties. Authorized Companies, on the other hand, are designed for businesses that wish to operate outside Mauritius. The choice between these types depends on the intended business activities and tax planning strategies.
How long does it take to incorporate a company in Mauritius for non-residents?
The incorporation of a company in Mauritius for non-residents typically takes between 5 to 10 working days once all the necessary documents are submitted. However, the total time may vary based on the completeness of the application and the efficiency of the service provider. It is advisable to engage a local expert who can assist with the documentation and ensure a smooth and faster incorporation process.
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This publication is provided for information purposes only. This info should not be treated as a substitute for a tax or legal consultation or legislation. You should not act on the basis of the information contained in this publication without having obtained individual advice from the professional expert.
BRIS GROUP does not assume responsibility for any damage resulting from decisions made by the reader on the basis of this publication.
About Mauritius
Country: Republic of Mauritius
Capital: Port Louis
Continent: Africa
Language: Mauritian Creole
Currency: Mauritian rupee (MUR)
Time Zones: UTC+4 (MUT)
Dial Code: +230
Abbreviations: MA
Helping Your Company Thrive in Mauritius With us, starting and running a business in Mauritius will be easy and efficient!
- Full support of the company’s registration in Mauritius: from the preparation of documents to their submission.
- Remote registration: all processes are online, wherever you are.
- Secretary and Treasurer: we can take on these important roles.
- Nominal directors and shareholders: we will ensure the confidentiality of your information.
- Help in opening a bank account: we will simplify this complex process.
- Registration for taxes, VAT and EORI: ensure all requirements are met.
- Website development: we will create a professional online representation for your business.
- Logo creation: we will design a unique and memorable logo for your brand.
- Full administrative support of the company: we will take over routine tasks.
- Mailing address organization: we provide a reliable mailing address for your business.
- Organization of the virtual office: we will ensure the professional image of your company.
- Telephone answering service: we will answer calls on behalf of your company.
- Accounting, audit and reporting: ensure accurate and timely accounting.
- Preparing and filing a VAT declaration: let’s save you the trouble.
- Interaction with local authorities: take over communication with state institutions.
- Trademark registration: protect your brand.
- More Emphasis on Customer Input.
We provide a wide range of offshore companies formation, administration and fiduciary services for internal and external clients worldwide. We help to maintain an offshore company in accordance with the regulations, laws and tax authorities of the foreign state in which it is registered for non-resident clients.
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