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Open an Over Seas Company in Mauritius

Company formation in MauritiusMauritius GBC is a popular choice among foreign investors due to the ease of business setup and business benefits from the investment. A GBC can be set up with a minimum share capital with one shareholder and two directors residing in Mauritius.

The Governing Body for GBC is the Financial Service Commission. To approve the company setup additional evidence, have to be provided to state the company is managed from Mauritius and have a local corporate bank account.

Setting Up a Mauritius Global Business Company – Tax Saving Option for Investors

The Mauritius Global Business company is considered as a resident entity and is liable to pay tax in Mauritius over its global earnings. (3% tax, compared to 15% for other resident company).

The investor can leverage the Double Taxation Avoidance Agreement (DTAA) and benefit in many ways such as:

  • Not required to pay tax in the home country
  • Tax exemption on dividends and interest remitted from one of 44 countries that have signed DTAA with Mauritius.

Also, the GBC has to comply with the Economic Substance regulations by apportioning a local expense of USD 15,000 and appointing at least 1 staff member in Mauritius for the GBC Company.

Setting Up a Mauritius Global Business Company – Things To Know

A Mauritius GBC is the right choice for holding companies, regulated services like financial services/insurance companies. GBC Companies are popularly preferred by Tax Practitioners and business to structure investments to save tax majorly from the Asian Markets like China, India, and Thailand. Also, it is an ideal choice for trading, investment, and asset protection activities.

Mauritius GBC Companies are governed by the Companies Act, 2001, and regulated by the Financial Services Commission. They are compliant with the reporting standards of the UK and Hong Kong Companies.

Note: There were two types of Global Business Companies – GBC 1 & GBC -2. From 1st January 2019, The GBC-1 is changed to GBC, and GBC-2 is no longer active, instead of a new type of entity, the Authorized Company is formulated by the Financial Services Commission (FSC) of Mauritius.

Global Business Company Setup in Mauritius – Requirements

For a smooth GBC company set up in Mauritius, the following requirements have to be met:

  • A minimum of two resident directors are required to avoid taxation benefits
  • A qualified company secretary (resident)must be appointed
  • Name approval for the company is required and must pass through the guidelines.
  • The audited financial statement required to be filed with the Financial Services Commission within 6 months of the close of the financial year.
  • For Banking and Insurance sectors separate license is required.
  • Maintain a Corporate Bank Account in Mauritius at all times
  • Must have office premises in Mauritius and employee at least one staff (resident person) in Mauritius
  • Expected yearly cash flow and expenses to a significant degree. [12,000 USD for Investment Holding Companies, 15,000 USD for Non-Investment holding]

Type of Activities a GBC can operate

A GBC can operate in the following business areas:

  • Investment dealer/advisor
  • Funds Management
  • Insurance Broker
  • Payment Service provider
  • Asset management/credit finance
  • Custodian Services
  • Distribution of Financial Products
  • Factoring/Leasing
  • Pension Funds Administration/ Pensions scheme management
  • Treasury Management/ Registrar & Transfer agent

Additional Services List

  • Trading
  • Aircraft Financing and Leasing
  • Information and Communication Technology Services
  • Logistics/Marketing/Licensing/Franchising
  • Operational Headquarters
  • Pension Funds
  • Shipping & Ship Management

Time Taken for Setting Up a GBC Company in Mauritius

Once the Trade Name is approved the GBC Company can be incorporated within 2-3 weeks.

Documents Required for Setting up a Mauritius Global Business Company

To register a GBC Company, taking the assistance of a Licensed Business Consultant in Mauritius helps in streamlining the company setup process.

We have our associates in Mauritius, who will handle all your business setup related assignments and ensure you have a hassle-free company formation at the lowest cost.

Documents Required for Individual Shareholders

  • Original Passport/notarized copy of passport for Personal Identity Verification at our Mauritius Associate Office
  • Proof of Address (Utility bills for 3 months)
  • Bank Reference letter ( A satisfactory record and period the client has been dealing with the bank)
  • Detailed CV
  • Professional Reference Letter

Document Required for Corporate Shareholders

  • Certificate of Incorporation
  • Registered Address and place of business
  • Certificate of Good Standing for companies incorporated more than 1 year
  • Directors/Shareholders Agreements
  • Memorandum & Articles of Association

All documents submitted must be attested by a Certified Lawyer or Notary Public before submission to FSC, Mauritius. Also, the documents have to be verified by the licensed business consultants and then submitted to the FSC for the approval and issuance of the new Company Incorporation Certificate.

To know more about Company Formation in Mauritius, talk to our expert Consultants

Corporate Bank Account Opening in Mauritius

The Banking and Finance Sector in Mauritius is growing and becoming a leading financial hub of the African region. The popularity of Mauritius Global Business Company among the foreign investors as well as the growth of local Mauritius Companies is due to the banking services and financial support system. The Banks in Mauritius comply with international guidelines of banking operations and conduct due diligence at all stages of account opening, transactions, account management, and more.

Banks in Mauritius offers a wide range of Services and Products for Business Investors. The Banks offer secured transactions and follow strict compliance in KYC (Know-Your-Customer), due diligence on documents submitted, monitor transactions, and Banking regulations. Thereby, protecting the business investors from any frauds, misuse of accounts, or illegal fund transfers. Aurion is associated with top banks in Mauritius to facilitate a smooth corporate account opening for you in Mauritius.

To know more about Bank Account Opening in Mauritius, Talk to our expert business consultants.