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Mauritius Offshore Company Formation

The Republic of Mauritius is an island nation which is located off the coast of the African continent. Mauritius is a tax haven was well as an offshore jurisdiction. The island nation began offering offshore services to clients from around the world in 1992. The government form the inception of the offshore sector in the jurisdiction has put in place regulatory bodies to monitor and regulate the operation of such services within the territory. The offshore sector of Mauritius has seen considerable growth over the years and the offshore tax haven is known well known. Offshore services which are provided by the tax haven of Mauritius include offshore banking, the incorporation of offshore companies, offshore insurance and the registration of ships and vessels among others

The Mauritius offshore companies is known as the Global Business Company Category 1 and the Global Business Company category 2. This type of offshore business companies has been incorporated in the offshore jurisdiction from 2001. The Mauritius offshore companies are formed according to the laws of the Mauritius Company Act of 2001. Although both categories of companies can operate as offshore only the Global Business Company Category 1 has the benefit of Double tax treaties whilst the Category 2 business company has no double tax treaties applied.

Offshore company formation for a Mauritius GBC 1 the company name must be sent to the Registrar of Companies for approval. Upon receiving approval the process of offshore company formation can then commence. Person wishing to do offshore company formation must send in a application form to the Registrar of companies. This document will be the Memorandum of Association for the company. The information which should be submitted to the Registrar of Companies is:

  • The names and addresses of the persons wishing to form the Mauritius Company
  • The address of the registered office of the corporation
  • The name , address of the proposed directors of the company
  • The name and address of the company secretary
  • The names and addresses for each shareholder of the Mauritius corporation
  • The authorized share capital for the company
  • The currency in which the authorized share capital will be issued
  • The number of shares to be issued
  • The classes of shares the company propose to issue
  • State if the company intends to be a limited or unlimited company
  • If the company is a private company
  • The by- laws of the Mauritius Company

Once all the right requirements are met the Registrar of Companies will issue the company a Certificate of incorporation accompanies with a company number. When the company receives the certificate of incorporation is then acknowledged as a legal entity in the jurisdiction and is free to undertake business operations. For offshore formation in Mauritius a Global Business Company Category 1 needs two (2) directors and one (1) shareholder. The directors of this type of Mauritius offshore company must be residents of the tax haven and must be natural persons. According to the Company Act of the offshore jurisdiction a company Secretary must be appointed.

The offshore company registration of a GBC 1 in Mauritius takes about three (3) to four (4) weeks to complete. The Registrar of Companies can refuse to incorporate a GBC 1 if the name chosen has already been used for incorporation. GBC 1 company names must not show any affiliation with the government of the tax haven and the president of the tax haven. The names for a GBC 1 company can be written in French or English as both languages are recognized as official languages of the country.

GBC 1 companies in the tax haven of Mauritius can only conduct the business they were licensed to carry out. GBC1 companies in offshore Mauritius must obtain a special license from the Registrar of Companies for the following words or phrases to be included in the Company’s name: Bank, Chamber of Commerce, Building Society, Insurance, Assurance, Invest fund Management, Cooperative, Imperial or Chartered.

GBC 1 Companies must show Limited Liability by adding one of the following words or its abbreviation to the name of the offshore company: Limited, Incorporated, Sociedad Anonima, Société Anonyme à Responsabilité Limitée, Besloten Vennootschap among others. Global Business Company Category 1 Company in the tax haven of Mauritius can be incorporated with preference shares, redeemable shares and registered shares.

In the offshore jurisdiction of Mauritius the offshore formation of a Global Business Company Category 2 (GBC2) follows the same procedure as the GBC 1. For the offshore company registration the services of a registered agent is needed. A Global Business company 2 is prohibited from doing business with residents of the offshore tax haven or within the jurisdiction. Like GBC1 companies the category 2 company will require special license to include the words bank, cooperative, chamber of commerce and insurance among other already mentioned above to its name.

Global Business Company category 2 operates tax free in the offshore tax haven on Mauritius. No local taxes will be levied on income which the company accumulates from outside of the jurisdiction. Since no local business can be conducted by the offshore company no local taxes will be paid. The Global Business Company 2 is however obligated to pay the government of Mauritius an annual fee. A Global Business Company category 2 formed in the Republic of Mauritius does not benefit from the Double tax treaty that the offshore jurisdiction has signed with many countries.

For the offshore formation of a Global Business Company Category 2 only one (1) director and one (1) shareholder is needed. The director of the company must be a natural person. The appointment of a Company Secretary is not obligatory.

The formation of offshore companies in offshore Mauritius is a straightforward process which is completed by professionals in the jurisdiction. Offshore company registration in tax haven Mauritius will help provide top asset protection. Mauritius offshore companies also makes good trading company.