Mauritius Offshore IBC Guide

Are you looking for opening an International Business Company in Mauritius? In this blog we provide you with the guide of Mauritius Offshore IBCs.

A Mauritius IBC is primarily used for trade and investment. A Mauritius IBC has a well established offshore company formation industry.
Companies under Mauritius IBC are not resident for the purpose of tax. They also have no right to use Mauritius’ tax treaty network as a result. There is a minimum paid up capital requirement of US$1 for companies under Mauritius IBC

Investors can express the share capital in any currency with the only exception to the rule being the Mauritian Rupee. The Mauritian IBC Companies that hold this licence are not able to trade within the Republic of Mauritius itself.

All business carried out under this licence should not be harmful to the well established reputation of Mauritius as an offshore financial centre.

Advantages of a Mauritius IBC

  • All Mauritius IBCs income is exempt from taxation
  • Mauritius IBCs are flexible. The administration is straightforward and is of low cost
  • No accounting requirements in a Mauritian IBC
  • Quick and efficient Mauritian offshore company registry says that the turnaround time is less than 72hrs
  • No annual returns required to Mauritian government
  • No corporate taxation.
  • Access to double taxation treaties

Top Uses of a Mauritius IBC

  • A Mauritius IBC offers simple and cost-effective option for Mauritius offshore holdings
  • It is ready made for investors who require a separate vehicle for holding a range of assets and investments, property acquisitions, consultancy services on an international scale and collecting any royalties
  • A Mauritius IBC provides large freedoms for business, monetary, investment, trade and financial markets

Corporate Features of a Mauritius IBC

Type of entity

GBC 2

Type of law

Hybrid

Governed by

Companies Act 2001, Financial Services Development Act 2001

Registered Office in Mauritius

Yes

Time to establish a Mauritian IBC

72 hours

Minimum government fees

US $ 235

Minimum paid up capital investment

US $1

Permitted currencies

All except Mauritian Rs

Usual Authorized Amount

US $ 100,000

Location of meetings

Anywhere

Minimum annual government tax

US $ 235

Requirements for Incorporation of a Mauritius IBC

Following are the requirements to incorporate a Mauritius IBC

  • A submission of the Memorandum and Articles of association is necessary for the incorporation of an IBC in Mauritius
  • A Certificate from the registering agent is needed to confirm the requirements of the ordinance
  • The directors and shareholders named must execute consent forms which are to be filed with the Registrar of Companies
  • The application must be supported by a local lawyer. He can certify that all relevant local requirements have been met
  • The language of all documents is English
  • Documentation provided may be in any language

Taxation of a Mauritius IBC

  • Income tax
  • Transaction tax
  • Stamp duty
  • Capital gains tax
  • Corporate tax

Corporate Details of a Mauritius GBC-1 Offshore Company

Company Shares

Shareholders can invest in any currency with the exception of the Mauritian Rupee (Rs). Shareholders can retain anonymity with a minimum investment of US$1. The Standard approved amounts are approx US$100,000. The stated capital total consists of the total amount received and receivable by the company in respect to shares

Required Capital

Mauritius IBC requires a minimum investment of US$1.

Financial Statements Required

Mauritius IBC must file audited financial statements annually with the Financial Services Commission.

Directors

Mauritius IBC must have a minimum of one Director. There are no restrictions in regards to where the Director is from.

Company Secretary

The appointment of a company secretary is not mandatory. There are no local restrictions in place regarding the hiring of Mauritian nationals.

Shareholders

Mauritius IBCs require a minimum of one shareholder who can be either an individual or corporate body.

Trading Restrictions

Mauritius IBCs cannot trade within Mauritius itself.

Powers of the Company

Companies formed in Mauritius have equal power as that of a natural person.

Language of Legislation And Corporate Documents

Though documentation may be written in any language, it must be added with a certified English translation.

Registered Office

There are no mandatory offices requirements associated with the IBCs

Local Presence

There are no mandatory local presence requirements associated with the IBCs

Management And Annual Meeting 

There is provision to allow the corporate Directors and Shareholders. Meetings can take place anywhere in the world. There are no obligations to conduct meetings in Mauritius.

Availability of Shelf Companies

Shelf companies may be available depending on the company’s age requirement.

Time Required To Form IBC

The time required to form an IBC in Mauritius is under four weeks, as long as there is no delay in receiving all relevant documentation.

Name Restrictions

Any Mauritian IBC formation name that is similar to an existing name of a company, or any such name that suggests the funding of the Mauritian Government, is not allowed.

Permitted Limited Liability Suffixes

Some of the international terms may be used to indicate limited liability such as Limited, Corporation, Incorporated, Public Limited Company, etc

We hope that all the above information will give you a clear picture on Mauritius IBC

Business Setup Worldwide is a platform to guide you through this. If you need any assistance, then you can contact us! We’d be glad to assist you.

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