Mauritius GBC I
Mauritius is situated in the Indian Ocean approximately 800 km off the East Coast of Madagascar.
Mauritius GBC I Companies are considered resident in Mauritius and consequently subject to tax. However, they benefit from both tax credits and a longstop tax rate of 3%. Correctly structured and managed Mauritius GBC I companies may access Mauritius' network of 33 tax treaties. Neither capital gains nor withholding taxes are levied. Consequently, Mauritius GBC I companies are used by tax practitioners and businesses to structure investments into Mauritius' treaty partners, which include China, India, Luxembourg and Thailand.
Mauritius GBC I Companies are governed by The Companies Act, 2001 and regulated by the Mauritius Financial Services Commission. They are subject to compliance and reporting regimes similar to those of Hong Kong or UK companies. All companies seeking to benefit from this status are granted licenses on a case by case basis by the regulatory authorities in Mauritius. This procedure demands the submission of a detailed business plan and disclosure of beneficial ownership.
Key Corporate Features
General |
|
| Type of entity: | GBC I |
| Type of law: | Hybrid |
| Shelf Companies Available: | No |
| Our time to establish a new company: | 3-4 weeks |
| Minimum government fees (excluding taxation): | US$1,500 to FSC US$200 to ROC |
| Corporate taxation: | Varies from 0% to 3% (maximum) |
| Double taxation treaty access: | Yes |
Share capital or equivalent |
|
| Standard currency: | US$ |
| Permitted currencies: | Any except Rs. |
| Minimum paid up: | US$1 |
| Usual authorised: | US$1,000,000 |
Directors or Managers |
|
| Minimum number: | Two |
| Local required: | Yes, but 2 required for tax treaty access |
| Publicly accessible records: | No |
| Location of meetings: | Anywhere, but in Mauritius for treaty access |
Members |
|
| Minimum number: | One |
| Publicly accessible records: | No |
| Location of meetings: | Mauritius - by proxy |
Company Secretary |
|
| Required: | Yes |
| Local or qualified: | Local and qualified |
Accounts |
|
| Requirement to prepare: | Yes |
| Audit requirements: | Yes |
| Requirement to file accounts: | Yes |
| Publicly accessible accounts: | No |
Other |
|
| Requirement to file annual return: | No |
| Change in domicile permitted: | Yes |
