Mauritius Offshore Company
The offshore jurisdiction of Mauritius has replaced its offshore company’s legislation with the 2001 Companies Act. Under this new piece of legislation the tax haven of Mauritius incorporates two types of Mauritius companies; the Mauritius Global Business Company category I and II. These Mauritius companies are used to engage in international trade.
The Global Business Company I type of Mauritius Company which is licensed by the Financial Services Commission of Mauritius. This is the only one of two Mauritius companies which is allowed business company legislation to do business both in and outside of the jurisdiction of Mauritius. The Global company category I can do business anywhere in the world as long as the operations carried out are legal.
This Mauritius Company can take up to one (1) month to incorporate as very detailed information must be provided to the relevant authority. The procedure for company registration for this type of Mauritius Company submitting a signed application form, a document containing information concerning the beneficial owners of the Mauritius Company including the names and addresses, a form containing information about the company directors including their names and addresses, a business plan for the next three (3) years outlining the business objectives of the Mauritius company. Then name of the proposed company must be submitted along with the types of shares and the number of shares this Mauritius Company intends to issue.
Although it does business offshore the Global business company I is considered a tax resident of the offshore jurisdiction of Mauritius as it pays taxes to the authorities in Mauritius. The advantages of being a tax resident Mauritius company are that there are tax treaties signed with over thirty three (33) countries to enjoy. The tax rates for these Mauritius companies are set at a low 15%. Mauritius global business company I can have it taxes reduced to as low as 3% by taking advantage of tax credits being offered in the jurisdiction.
The Mauritius Global Business Company II type of Mauritius Company is incorporated in the offshore jurisdiction of Mauritius cannot do its business operation in the jurisdiction or with residents of the jurisdiction. This Mauritius Company is not allowed by legislation to trade in the Mauritian Rupee. It takes at least one (1) working week to incorporate this type of Mauritius Company.
Incorporation of this Mauritius Company is done through a simple and straightforward process. Information to be presented to the Mauritius Financial Services Commission is the following: the proposed name of the company, the number of shares to be issued, the names, addresses and nationality of every shareholder and director of the Mauritius Company, the name and address of the registered shareholder and the objectives of the Mauritius Company must be carefully laid out. The Mauritius Company needs only one shareholder and one director for incorporation.
Once incorporated this Mauritius Company can conduct its business anywhere outside of the offshore tax haven of Mauritius. The global business company of Mauritius pays not taxes on income which is earned outside of the jurisdiction of Mauritius. This Mauritius Company is exempted from stamp duty and estate tax in the jurisdiction.
These Mauritius companies can be used for international tax planning. Both types of Mauritius companies have their advantages. Mauritius companies are well respected in the business world and the offshore jurisdiction of Mauritius has gained much respect over the years. Mauritius companies have very flexible structures which puts them among some of the best available.