Over the last few years, Mauritius has evolved to be a powerful and premier international business destination for entrepreneurs. The nation has grown in leaps and bounds when it comes to the development of offshore. This can be attributed to its socio-economic development and unprecedented growth in financial matters.
The economy of Mauritius encourages offshore activities and foreign investments. The Board of Investments has several schemes and guidelines to promote a rapid offshore business incorporation process. The government has designed many inducements to help international investors. These legislations are robust and extremely user-friendly. Of course, they have funded drastically to the rise of the financial service centre in Mauritius.
Benefits of Offshore Company Formation in Mauritius
There are many benefits to starting a GBC2 company. Here is a quick walk through these benefits:
- The business owners are free from the repatriation of profits and income
- The offshore firm is not forced to pay stamp duty or transfer shares
- Mauritius offers high levels of data security and privacy
- Foreigners can open businesses in the country without the help of a local nominee
- It would help if you only had only one director and a single shareholder to start the offshore company
- Mauritius doesn’t demand accounting or reporting requirements from offshore companies
- If needed, you can convert the offshore company to an onshore company
Main Uses of Company Formation in Offshore Mauritius
- Holding Intellectual Property Rights
- Inheritance Purpose
- Binary Options/Forex
- Holding Assets
- International Business
Features of a Mauritius Offshore Company
- No requirement for accounting or auditing
- No taxes of any sort
- Mauritius offers a high level of privacy and anonymity
- Stable jurisdiction with a good reputation
- No requirement for paid-up capital
- Minimum one director and one shareholder
- Bearer shares are not allowable
- Names of firm officers are filed with the Registrar but are not open to public review
- The Mauritius Financial Service Commission is the leading authority and companies are controlled under the Companies Act of 2001
Procedure to Start an Offshore Company in Mauritius
For the eighth successive year, the World Bank’s 2016 Ease of Doing Business reports ranks Mauritius 1st among the African economies and 32nd worldwide out of 189 economies in terms of ease of doing business, making Mauritius the front-runner in economic autonomy for the region of Sub-Saharan Africa.
Forming an offshore business in Mauritius is loaded with many scintillating advantages. Setting up is straightforward and straightforward, irrespective of the kind of company you wish to establish. Mauritius will let you select from two different businesses, viz. a Resident Company or an Offshore Company. Offshore Companies are known as GBC2 organisation. If they are structured carefully, the organisation will be tax-efficient, low cost and legally verified.
The steps to register your business in offshore Mauritius are simple and straight-forward. We at Business Setup Worldwide can take care of it. Our steps include –
- Our specialist's team will advise you a sufficient type of Mauritius Company which fits your business activity. After which a company name must be suggested. There are some regulation regarding the name which won’t be used for the registration if the name is matching with that of an existing company, or statutory corporation, or so nearly resembles that name as to be likely to mislead, except where the current company or statutory corporation is in the course of being dissolved and signifies its consent in such manner as the Registrar requires
- After this, we collect the documents as are necessary for the business registration
- Once the registration is done, we will dispatch you the company kit
The documents required for starting your offshore company in Mauritius
- A passport copy (certified)
- A certified or original copy of a proof of domicile (issued within last three months)
- A unique personal bank reference letter mentioning good standing of the account since at least two years
- An original statement from the bank for a personal account from the last three month representing the customer’s address, as well as a signed business plan and a CV
Should you decide to start a business in Mauritius, contact us today –we’d be happy to help you.