Photo 1 - Company registration in Mauritius

About Mauritius

Mauritius is an island republic in the Indian Ocean, which was once owned by Holland, France and England. Since 1968 the island of Mauritius became independent as a part of the British Commonwealth, and since 1992 it has become a republic.

The aggressive policy of the Europeans led to the extermination of many representatives of the flora and fauna of Mauritius, leaving behind only sugar cane plantations, which is the only crop that can withstand hurricanes and cyclones in the Indian Ocean.

Since gaining independence, tourism and the development of the offshore sector have become one of the main sources of income for the state.

ADVANTAGES OF OFFSHORE REGISTRATION IN MAURITIUS:

Developed banking system
There are no currency control requirements
A flexible tax system that allows implementation of bilateral treaties
A high level of confidentiality of information about the companies’ owners

LEGISLATION

Legislative regulation of all enterprises in the Republic is regulated by^

Companies Act 2001;
Financial Services Act 2007.

TYPES OF COMPANIES

The legal base of Mauritius indicates several corporate forms, although there are the following forms for foreign citizens for the purpose of doing business as:

International Licensed Company (Global Business License company);
Authorized company (Authorized company).

COMPANY REGISTRATION IN MAVRITIUS: requirements

GLOBAL BUSINESS LICENCE (GBL):

This corporate form is a resident and is subject to international tax treaties. In this case, local taxes are paid, but the company can enjoy the privileges of double taxation treaties.
Minimum share capital is not required.
Bearer shares are prohibited. Shares with or without par value can be used.
Director can be one (or more) natural person with local residence. To use double taxation treaties, one must have 2 local directors.
Shareholder can be one (or more) natural or legal person. A nominee service can be used.
Secretary is required, who is natural or legal person, possibly a non-resident. A registered agent is also needed.
Information about directors and shareholders is non-public
It is necessary to maintain and submit an annual financial report. Audited is also obligatory.
There are no requirements for the place where the Meetings of directors and shareholders have to be held, although in order to apply benefits under international agreements, such meetings must be held in the territory of the jurisdiction in the presence of 2 local directors. Video meetings or teleconferences are acceptable.
It is also necessary to have a local registered office.

AUTHORIZED COMPANY (AC):

This corporate form is non-resident and is not subject to the application of international treaties for the avoidance of double taxation. The company is managed and controlled from outside Mauritius.
Prohibited Activities. This type of company cannot carry out banking, finance, fiduciary activities, or trust business.
Bearer shares are prohibited. Shares with or without par value can be used.
One (or more) natural person, without residency requirements can act as a Director.
One (or more) natural or legal person can act as a shareholder. A nominee service can be used.
There is no requirement for availability of the secretary. Only registered agent who manages the company is requeired.
Information about directors and shareholders is non-public.
It is necessary to maintain and submit an annual financial report, without going through an audit.
There are no requirements for the place where the Meetings of directors and shareholders have to be held. Video meetings or teleconferences are acceptable.
There must be a local registered office.

TAXATION

Income tax for GBL is 15%, although if one paid tax in another country, it can be deducted from the tax in Mauritius. If one is unable to provide proof of such payment, it is considered that one has paid tax, which is 80% of the tax in Mauritius, and, ultimately, the income tax does not exceed 3%.

For Authorized companies the income tax is 0%. At the same time, there is a need to submit a zero tax return to the Mauritius Revenue Authority

Dividend tax is 0%.

Capital gains tax is 0%.

Currency control

Not applicable.

DUAL TAXATION TREATIES

Mauritius has concluded more than 50 Avoidance of Double Taxation Agreements (Jersey, China, Germany, France, India, Indonesia, Monaco, UAE, Luxembourg, Seychelles, Malta, Oman, Singapore, Sweden, Cyprus, Great Britain, etc.). There is no such an agreement concluded with Ukraine.