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Mauritius Company Formation

Mauritius Company Formation

Mauritius is called one of the main economic hubs in Africa. The island state has a favorable location, well thought-out tax policy, and has created favorable conditions for the inflow of global investments. Mauritius Company Formation is a quick and simple process that depends on the type of company chosen. The Fast Offshore Licenses team will assist in selecting and executing the optimal organizational structure.

he Republic of Mauritius has become one of the richest countries in Africa. Tourism, trade, IT, and financial sectors are developed here. This has been facilitated by signing several agreements and joining the WTO, COMESA, South African Customs Union (SACU), and Organization of African Unity (OAU). More than 50 double taxation treaties have been concluded. To confirm the reliability of the jurisdiction, the country’s legislation is designed to meet the requirements of FATF and the EU.

The geographical location has positively impacted Mauritius’s economy and turned it into an international logistics center for trade between Africa and Asia. The state is also effectively developing export-import ties with China and the USA.
The chosen economic strategy of the authorities, the simplicity of company registration, optimal tax benefits for offshore business, and the possibility of developing global business ties have stimulated a large inflow of capital into this jurisdiction. Registration of companies in Mauritius is carried out by the Legal Entities and Business Registration Division (CBRD) under the Ministry of Finance based on the Companies Act 2001 and Business Registration Act 2002.

Once a company is registered, it enjoys several benefits, including zero capital gains tax, optimal corporate tax, no exchange controls, and a guarantee of data confidentiality.

Advantages of Company Registration in Mauritius

Benefits for companies.
To develop the business community for non-resident companies, the authorities offered several tax incentives: up to 15% corporate tax, 0% tax on capital gains, property, dividends, and no currency control of transactions. It is also allowed to create trusts, and foundations and offer payment services. More than 20000 offshore organizations have already been registered.

Data confidentiality.
Data on the owners of the company is disclosed only by court order. There are no publicly available registers of ultimate beneficial owners (UBO) in Mauritius.

Digital assets recognized.
The jurisdiction has officially recognized digital assets as a separate class. They established a Financial Services Regulatory Committee to promote innovative technologies in finance.

International Trade Center.
One of the main incomes is developed international trade, the unique location of Mauritius has made it a logistics center between two continents.

Ease of doing business.
Mauritius ranks 13th on the Ease of Doing Business Index. It has a bilingual legal framework (English and French). Company Formation in Mauritius takes place in a short period – a few days.

Requirements for opening a formation in Mauritius

The Mauritius regulator, when forming a company, ensures compliance with the Companies Act 2001 the Business Registration Act 2002, the Financial Services Act 2007, and the Financial Services Commission (FSC) review the documents.

Incorporating a company provides a wide range of opportunities to develop business activities, but certain requirements must be met:

Choose the organizational structure of the business.
Legislation allows for different types of structures such as global business companies (GBC), authorized companies (AC), trusts, foundations, trading companies, limited liability companies (LLC), etc.

Duties of management and owners.
A director must comply with the principles of good business conduct and be qualified to operate the business. Passports and proof of residence of the manager and business owner must be submitted at the time of incorporation. There must be at least one shareholder.

Business plan.
Description of the company’s development strategy with indication of activities bringing future profit.

Apostilization and legalization of documents.
Documents of other jurisdictions must be legalized according to the legislation of Mauritius.

Local office.
The company must have a local registered office, in this premises where internal documents will be kept and correspondence will come. In addition, contact details – phone numbers and e-mail are indicated.

Process for Opening a Company in Mauritius

This jurisdiction has developed a simple and quick mechanism to register a business in just a few days. For aspiring business owners, you need to follow the steps outlined in the Company and Business Registration Guide, as follows:

Name the future business.

Before submitting the registration form, you must ensure that the proposed business name has not been reserved. In Mauritius, it is forbidden to use words denoting government agencies (Government, President, National, etc.).

Company Documents

The package of documents includes (depending on the type of organization):

identification documents of the manager and owner with proof of residence (if non-resident), letter of consent of the director (one of the directors must be a resident of Mauritius);
Articles of Association, Memorandum of Association;
business plan;
information about shareholders and the number of shares they own.

Pay the fee

The amount depends on the type of company selected and up-to-date information is listed on the CBRD website:

Private Company Rs3,000;
Public company Rs13,500;
International Business $65;
Separately for a certificate -Rs300.

Apply

CBRD has created a platform to apply online.

Obtain the certificate

If a license is required, registration takes place only after FSC approval.
After obtaining the certificate, the business must become registered with the MRA.

It takes up to one week to formalize the company and receive a certificate of registration number.

Documents required to register company in Mauritius

The Companies Act 2001 and the CBRD website state that the following list of documents must be submitted when registering a company:

Application for incorporation.
Written consent of the director to hold office.
If there is a secretary, his written consent is also filed.
Articles of Association, Memorandum of Association.
Passport and proof of residence of the director (non-resident), and secretary (if hired).
Letter from the shareholders indicating the number of shares purchased and the amount paid for them.
In the case of LLC registration, a letter stating the amount to be contributed by each owner in case of liquidation of the company.
Proof of name registration (certificate).
Business plan.
Confirmation of the legal address of the company (lease agreement).

Types of companies in Mauritius

Mauritius provides businesses with a wide range of organizational structures. The legislation allows 100% foreign ownership. Depending on the future activity, and orientation, you can choose the best option:

Limited Liability Company (LLC)

LLC – chooses more small businesses, the owners have no personal obligations in the liquidation of the business. The requirements include: one resident manager, one owner, an authorized capital -of rdaddphp, and the company must provide jobs for residents. Corporate tax is 15%, 0% on capital gains.

Company Limitation Shares (CLS).

Select an investor who is willing to be liable for the amount of outstanding shares. Requirements include one director, and one managing director (no residency requirements). The business is developed by issuing shares and raising additional capital.

Companies Limited by Guarantee (CLG)

No shareholders and some guarantors undertake to contribute a certain amount of money in case of liquidation of the company. This form of activity is more registered by non-profit organizations and charitable foundations.

Limited Liability Partnership (LLP)

Each partner is liable according to their contribution. 100% foreign ownership is also allowed. Especially often used in real estate investments. When a license is obtained, a global market opens up.

Trusts, foundations

Mauritius with its legislation and tax system has attracted many private funds and trust companies. This jurisdiction is often chosen for data privacy and asset protection.

Trading companies

More suitable for those whose main activity is international trade, there are tax exemptions for organizations exporting goods to Africa.

What types of businesses are best suited for company formation in Mauritius?

International businesses prefer to open these types of structures such as:

Global Business Corporation (GBC)

This type of business structure is suitable for companies providing financial and marketing services, investment funds, and consulting organizations. Financial market operators are required to obtain a license from the Financial Services Commission (FSC). Also, GBC becomes a tax resident with payment of appropriate fees.

Among the requirements for GBC registration are:

Two managing directors (Mauritius resident), minimum one shareholder (no residency requirements);
Authorized capital -rdaddphp;
100% foreign ownership is allowed;
Mauritius bank account;
Local office;
Local staff hired;
Accounting records are kept in Mauritius and all financial records are kept here.

The business benefits from local taxation in Mauritius, while being able to operate internationally.

Another popular structure is this:

Authorized Company (AC)

The peculiarities of registration include the presence of a registration agent. Double tax treaties do not apply to ACs.

Requirements:

One director and one shareholder;
Financial statements are filed with the FSC;
No corporate tax, capital gains tax;
Activities and management of the company take place outside Mauritius.

This option is suitable for IT companies, consulting, marketing activities, and real estate management.

Mauritius Companies Legislation

The main laws that control the process of registration and further operation of the business include:

Companies Act 2001, the main document that guides the Regulator in opening and liquidation of companies.
Business Registration Act 2002, which defines business structures, the process of registration of the name of the organization.
The Financial Services Act 2007, defines the mechanisms of operation and control of financial structures, their registration, and the process of obtaining authorization from FCS.
International Financial Reporting Standards, companies are required to keep financial statements and submit them to state authorities for inspection.

Taxation in Mauritius

Mauritius attracts business with its tax rates:

Corporate tax – 15%, but companies that do export processing, e-commerce, and intellectual property work are exempt from paying tax for up to 5-10 years.
VAT -15%.
No tax on dividends, royalties, capital gains, real estate

-Non-residents pay taxes on income received in this jurisdiction. Payment of fees is made quarterly. Companies are also audited and submit financial statements to the FSC.

Country Information: Mauritius

Square	2,040 sq km
Population	1,265,000
Capital	Port Louis
Unemployment Rate	6.90%
State Polity	Parliamentary republic
Telephone Code	+230
Corruption Rank	56
Location	East Africa, in the Indian Ocean
Climate	Tropical; average temperatures range from 20°C to 28°C (68°F to 82°F); wet season from December to April
Literacy Rate	91.50%
Ethnic Groups	Indo-Mauritian (68%), Creole (27%), Sino-Mauritian (3%), Franco-Mauritian (2%)
National Currency	Mauritian Rupee (MUR)
USD Exchange Rate	1 USD = 45.15 MUR
GDP per Capita	9,125 USD
Official Language	English
Credit Rating	BBB-
Judiciary	Supreme Court, Intermediate Courts, District Courts
Executive Authority	President, Prime Minister, Cabinet
Legislative Authorities	National Assembly (unicameral)

Corporate Information

Purchase Ready-Made Companies Available	Yes
Legal System	Based on English Common Law
Use of Cyrillic Alphabet in Company Name	No
Local Registered Office Required	Yes
Organizational and Legal Forms	Company, Limited Liability Company (LLC)
BPA in Company Name	Yes (e.g., Ltd, Co)
Local Registered Agent Required	Yes

Shares and Share Capital

Standard Currency for Shares	Mauritian Rupee (MUR)
Beneficiary Information Disclosed	No
Minimum Issued Capital	1 MUR
Bearer Shares Allowed	No
Authorized Capital Size	No minimum requirement
Terms of Capital Payment	No restrictions
Nominal Value of Shares	1 MUR
Possibility to Issue Shares without Par Value	No

Taxation

VAT	15%
Basic Corporate Tax Rate	15%
Capital Gains Tax	No
Currency Control	No
Corporate Tax Rate Details	Flat rate of 15% on net income
Stamp Duty	Yes

Director and Secretary

Minimum Number of Directors	1
Residency Requirement for Directors	No
Director Legal Entities Allowed	Yes
Information Disclosed to Local Agent	Yes
Information Disclosed in Public Registry	Yes
Secretary Required	Yes
Residency Requirement for Secretary	No
Qualification Requirement for Secretary	No
Legal Entity as Secretary	Yes

Shareholder and Beneficiary

Minimum Number of Shareholders	1
Data Entered in Public Registry	No
Residency Requirement for Shareholders	No
Beneficiary Information Disclosed	No
Beneficiary Info Disclosed to Local Agent	No
Legal Entities as Shareholders Allowed	Yes

Reporting

Filing of Reports Required	No
Open Access to Reports	No
Statutory Audit Requirement	Yes
Filing of Annual Return Required	Yes
Open Access to Annual Return	No
Reporting Requirements	No

Trademark Registration

TM Comprehensive Study Fee	USD 150
TM Registration Request Fee	USD 500
TM Registration Certificate Fee	USD 300
Additional Class Registration Fee	USD 200

FAQ about a Company formation in the Mauritius

How to register a company in Mauritius

After choosing the organizational structure, collecting documents, and reserving the name, an application is submitted to the CBRD Registrar. The CBRD online platform has been developed to speed up the process.

How much does it cost to set up a company in Mauritius?

The cost of registration depends on the type of structure chosen. The actual amount of the state fee can be found on the CBRD website.

How long does it take to register a company in Mauritius?

The process of registration and obtaining a certificate in Mauritius is one of the fastest and takes 2 to 5 days.

What is the difference between GBC and AC Mauritius?

The difference between GBC and AC is that the operations and management of an AC company take place outside Mauritius, while a GBC can conduct its business within the jurisdiction.

What are the costs involved in setting up a new business in Mauritius?

The total costs vary depending on the type of company chosen, the availability of premises or lease, the need for legalization of documents, their preparation, and FSC license fees.

What steps must a foreign national follow to start a business in Mauritius?

Before registering a company, it is important to decide on the type of activity, familiarize yourself with the tax system for the chosen type of structure, collect documents, and submit an online application to the CBRD.

Where can I find information on registered companies in Mauritius?

The regulator on its website CBRD publishes all relevant information related to registration and payment of fees. There is also a detailed Guide to company registration and business registration.

What are the accounting and tax considerations for companies in Mauritius?

Mauritius is popular for its tax incentives, where the corporate tax is 15%, but there are exemptions for certain activities where it can be 0% for a certain period. Also, there is no capital gains tax, non-residents pay taxes on income received on the territory of this state. Among the obligations it is important to note the maintenance of financial statements, submitting it to the Regulator, and passing the audit.

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