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
Type of law
Companies Act 2001, Financial Services Development Act 2001
Registered Office in Mauritius
Time to establish a Mauritian IBC
Minimum government fees
US $ 235
Minimum paid up capital investment
All except Mauritian Rs
Usual Authorized Amount
US $ 100,000
Location of meetings
Minimum annual government tax
US $ 235
Requirements for Incorporation of a Mauritius IBC
Following are the requirements to incorporate a Mauritius IBC:
- Certified copy of passport
- Original or certified copy proof of address (utility bill of gas, electricity, or water), the issue date must be less than three months ago
- Original personal bank reference letter mentioning good standing of the account since at least 2 years
- Original bank statement for a personal account from the last 3 month indicating the client’s address
- Signed business plan
- Curriculum vitae
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
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
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.
Mauritius IBC must have a minimum of one Director. There are no restrictions in regards to where the Director is from.
The appointment of a company secretary is not mandatory. There are no local restrictions in place regarding the hiring of Mauritian nationals.
Mauritius IBCs require a minimum of one shareholder who can be either an individual or corporate body.
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.
There are no mandatory offices requirements associated with the IBCs
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.
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.