Mauritius

Main » Jurisdictions » Mauritius

Mauritius

General information about the jurisdiction

The Republic of Mauritius is an island state in Indian Ocean which used to belong to Holland, France and the UK. It became independence in 1968 and now is a part of the UK.

Expansionist policy of the Europeans led to the destruction of many representatives of flora and fauna leaving only sugar cane plantations which is the only crop that can endure the hurricanes and cyclones of Indian Ocean.

Tourism and offshore sector are the sources of budget income.

1. Legislation

Company activity in Mauritius is regulated by Companies Act 2001 and Offshore Business Activities Act 1992.

2. Company formation

2.1 Types of companies

There corporate forms are Global Business Company Category 1 – GBC1 and Global Business Company Category 2 – GBC2.

2.2. Global Business Company Category 1 – GBC1:

  • A resident company that can use agreements on avoidance of double taxation and has to pay local taxes.
  • The minimum authorized capital – not established. 
  • Shares –bearer shares are not permitted. At least 2 shares with per value must be issued.
  • Director - at least 1 individual, a resident. To use agreements on avoidance of double taxation there must be 2 directors, individuals, residents.
  • Members – at least 2, individual or legal person. It may be 1 shareholder if he owns all shares.  
  • Secretary – is required, individual or legal person, no residency required. A registered agent is required.
  • Confidential information: information about directors and shareholders. 
  • Company is obliged to keep and submit an annual financial report, to be audited.
  • Annual meetings of shareholders must be held in Mauritius.
  • Procedure of registration is difficult and expensive.

2.3. Global Business Company Category 2 – GBC2:

  • It is an offshore company. 
  • The minimum authorized capital – not established. Payment by the moment of incorporation is not required.
  • Shares –registered, privileged. Bearer shares are not permitted. 
  • Director - at least 1, individual or legal person, no residency required. 
  • Members – at least 1, individual or legal person, no residency required.
  • Secretary – not required. A registered agent is required.
  • Confidential information: information about directors and shareholders. 
  • Company is not obliged to keep and submit an annual financial report, to be audited.
  • Annual meetings of shareholders may be hold in any place.

3. Taxes

Income tax for  GBC1 - 15%, but it can be reduced by the sum of foreign paid tax. If you can not prove the payment it is considered that you have paid 90% of the Mauritius tax and the whole tax will be less than 3%.

Annual state fee:

  • GBC1 - $1570.
  • GBC2 -  $200.   

 4. Currency control

None

5. Agreements on avoidance of double taxation

Mauritius concluded more than 50 agreements on avoidance of double taxation but not with Ukraine.

6. Features

Mauritius is not in the tax havens list of Ukraine.