Mauritius
Mauritius Authorised Company
Global Business License Corporation (GBL)

Benefits of Mauritius Authorised Company Registration

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    1 Director, 1 Shareholder Required, No Locals

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    Incorporation in 15-30 days

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    Legal System Based on Common Law

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    No Filing of Financial Records, No Auditing

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    No local tax for income outside Mauritius

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    No Publicly Accessible Record for Directors and Shareholders

Mauritius Authorised Company activities

Under the Companies Act 2001, as amended, the Mauritius Authorised Company (MAC) is a private company limited by shares with independent legal personality that has been granted a license by the Mauritius Financial Services Commission to conduct any lawful business outside Mauritius exclusively. MAC must not carry out the following business: public offering to raise capital, banking, trusteeship or trust administration to more than three trusts, insurance, assurance, reinsurance, fund management, investment funds, collective investment schemes or any other related activity.  Also, a prime limitation imposed by the Law is that the MAC is not permitted to own an interest in real property situated in Mauritius, in order to be exempt from local taxes.

Mauritius Authorised Company is optimal for:

  1. Asset and Wealth Protection
  2. Ownership of Intellectual Property
  3. International Business
  4. Technology and Web Business
  5. Holding Company
  6. Investment Activity

Benefits of Mauritius Global Business License Corporation

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    1 Shareholder Required, No Locals

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    Incorporation in 15-30 days

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    Legal System Based on Common Law

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    Network of Double Tax Treaties

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    No Publicly Accessible Record for Directors and Shareholders

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    Partial Exemption from Local Taxes

Mauritius Global Business Corporation activities

Under the Mauritius Companies Act 2001, as amended, the Mauritius Global Business Corporation (GBC) is a private company limited by shares with independent legal personality, that has been granted a license by the Mauritius Financial Services Commission and is eligible to obtain further licensing to conduct the business of funds, fund management, provision of investment services and advice, payment services and insurance services. GBCs are considered as residents of Mauritius for taxation purposes and they enjoy the benefits of the Mauritius extensive network of Double Tax Treaties, given that they obtained a Tax Residence Certificate granted by the Mauritius Revenue Authority

Mauritius GBC is optimal for:

  1. Financial Services
  2. International Trading
  3. Ownership of Intellectual Property
  4. International Business
  5. Technology and Web Business
  6. Holding Company

MAC incorporation checklist

If you are considering the incorporation of a Mauritius Authorised Company, you should take into consideration the following points:

Company’s name

The company’s name must not contain sensitive words which are prohibited by legislation. The following words are prohibited: “Building Society”, “Chamber of Commerce”, “Chartered”, “Cooperative”, “Imperial”, “Municipal”, “Royal”, “Assurance” “Bank”, “Insurance”, “Trust” and any other words implying a licensed activity or activity prohibited by the Law. There is also a prohibition for words implying patronage of the local authorities and the president or the government of Mauritius or any other country.

The company’s name must not be very similar to existing names on the registrar and it must not contain improper or objectionable words. It can be in any language but must have Latin characters only and end with a word or abbreviation signifying a corporate body or limited liability, for example such words are “Limited”, “LTD”, “Corporation”, “Corp”, “Incorporated”, “Inc.” etc.

Registered office

A MAC is required to have a registered office address in Mauritius which must be provided by an authorized registered agent in Mauritius.

Directors and Secretary

One director is the minimum required, there is no requirement for them to be locals and there is no requirement regarding the place and frequency of board meetings.

Corporate entities or a natural person can be appointed as directors. The director and shareholder can be the same person. The directors’ details are entered into the government record, but they cannot be accessed by the public.

The appointment of a secretary is not mandatory, but optional. Corporate entities or a natural person can be appointed as secretary.

Shareholders

One shareholder is the minimum required and the maximum is 25, there is no requirement for them to be locals and corporate entities or a natural person can be appointed as shareholders. The director and shareholder can be the same person. The shareholders details are entered into the government the government record, but they cannot be accessed by the public.

It is required that the shareholders conduct an annual general meeting, that can be held anywhere in the world. The first meeting must be conducted up to 18 months from the company’s registration. An annual general meeting must be conducted within 18 months from the previous one and within 6 months from the company’s balance sheet date and not later than 15 months after the last annual general meeting

Beneficial owners

The beneficial owner’s details are not registered on the public record and cannot be accessed by the public; those details are only held by the registered agent of the MAC Company who is bound by the law to keep this information.

Authorised share capital

MAC Company owners are free to determine any amount as the authorised capital at incorporation and it can be de-nominated in any currency, though the US Dollar is mostly preferred and the amount of USD 50,000 is highly suggested. The authorised capital is the maximum amount of capital that the company is authorised by its constitutional documents to draw from its shareholders to issue in exchange shares.

It is not required that all shares are issued upon the incorporation; however, it is required to issue at least one share. Shares may be issued with or without par value or with fractional value. Bearer shares are not allowed.

Paid up capital

There is no paid-up capital requirement, however, it is required that at least one share is issued upon the incorporation which must be paid up.

Incorporation period

A MAC in Mauritius can be incorporated within 15-30 days. While the registration period is concluded within fourteen business days from the filing to the government department, this timeframe may be extended due to further information or documents which may be requested.

Shelf companies

Ready-made but unused MACs are available in Mauritius, in case you are in need of a quicker incorporation process.

Economic substance

In order to be classified as an Authorised Company by the authorities, a company registered in Mauritius must establish that its effective management is exercised in a jurisdiction other than Mauritius. This is examined on a case by case basis, considering the specific situation of the company’s business. A determining factor is where the important decision-making takes place, regarding the company’s main income deriving business and where the majority of the Board of directors are residing and conducting their meetings.

Accounting records and annual returns

The MAC Company is not required to file its accounting records, nor is required that those accounts be audited. However, the filing of a return of income to the Mauritius Financial Services Commission is mandatory. The first filing must take place 6 months from the end of the company’s accounting period.

Taxation

There is an exemption in the jurisdiction of Mauritius from any tax on income or profits for MAC Companies, given that the company obtains non-tax resident status. In order to be classified as a non-tax resident, a company registered in Mauritius must establish that its effective management is exercised in a jurisdiction other than Mauritius. However, a MAC Company cannot claim any relief provided by the Double Tax Treaties Mauritius is a party to.

Disclaimer: Buy Now Companies and its affiliates do not provide tax, legal, or accounting advice. Materials provided by Buy Now Companies and [insert domain name] have been prepared for informational purposes only, and is not intended to provide, and should not be relied on for tax, legal, or accounting advice. You should consult your own tax, legal, or accounting advisor with regard to your own tax, legal, or accounting scenario. Nothing on this webpage shall be construed as a contractual commitment or as a warranty. Services conditions are governed by the applicable terms and conditions.

MAC incorporation checklist

If you are considering the incorporation of a Mauritius Global Business Corporation (GBC), you should take into consideration the following points:

Company’s name

The company’s name must not contain sensitive words which are prohibited by legislation. The following words are prohibited: “Building Society”, “Chamber of Commerce”, “Chartered”, “Cooperative”, “Imperial”, “Municipal”, “Royal”, “Assurance”, “Bank”, “Insurance”, “Trust” and any other words implying activity prohibited by the Law. There is also a prohibition for words implying patronage of the local authorities and the president or the government of Mauritius or any other country.

The company’s name must not be very similar to existing names on the registrar and it must not contain improper or objectionable words. It can be in any language but must have Latin characters only and end with a word or abbreviation signifying a corporate body or limited liability, for example such words are “Limited”, “LTD”, “Corporation”, “Corp”, “Incorporated”, “Inc.” etc.

Registered office

A GBC is required to have a registered office address in Mauritius which must be provided by an authorized service provider in Mauritius, such as lawyers or Management Company.

Directors and Secretary

Two directors are the minimum required, there is a requirement for them to be locals and in all board meetings must take part two directors from Mauritius. Corporate entities cannot become directors. The directors’ details are not publicly accessible.

Also, the appointment of a secretary is mandatory. Corporate entities can be appointed as secretary. Please not that nominee services are available.

Shareholders

One shareholder is the minimum required, there is no requirement for them to be locals and corporate entities or a natural person can be appointed as shareholders. The shareholders’ details are not publicly accessible.

It is required that the shareholders conduct an annual general meeting, that can be held anywhere in the world. It is noted that in the annual general meeting two directors from Mauritius must participate. The first meeting must be conducted up to 18 months from the company’s registration. An annual general meeting must be conducted within 15 months from the previous one and within 6 months from the company’s balance sheet date.

Beneficial owners

The beneficial owners’ details are not registered on the public record and cannot be accessed by the public, those details are only held by the registered agent of the GBC Company who is bound by the law to keep this information.

Authorised share capital

A GBC Company’s owners are free to determine any amount as the authorised capital at incorporation and it can be de-nominated in any currency, though the US Dollar is mostly preferred and the amount of USD 50,000 is highly suggested. The authorised capital is the maximum amount of capital that the company is authorised by its constitutional documents to draw from its shareholders to issue in exchange shares.

It is not required that all shares are issued upon the incorporation; however, it is required to issue at least one share. Shares may be issued with or without par value or with fractional value. Bearer shares are not allowed.

Paid up capital

There is no paid-up capital requirement, however, it is required that at least one share is issued upon the incorporation which must be paid up.

Incorporation period

A GBC Company in Mauritius can be incorporated within 15-30 days. While the registration period is concluded within fourteen business days from the filing to the government department, this timeframe may be extended due to further information or documents which may be requested.

Shelf companies

Ready-made but unused GBC Companies are available in Mauritius, in case you are in need of a quicker incorporation process.

Economic substance

In order to obtain a GBC Company license, the Mauritius Financial Services Commission must be satisfied that the company has economic substance in Mauritius and that the company’s management and control is conducted from within the territory. For fulfilling this requirement, the company must always maintain its main bank account with a Mauritius bank and carry out its principal activities from which its income derives in or from Mauritius.

Therefore, the GBC Company is required to always maintain office premises in Mauritius and employ, directly or indirectly, an appropriate number of sufficiently skilled persons to conduct its main activities. In some cases, one person may be enough, who may be a corporate administrator administrating the company. Also, it is required to make expenditures equivalent to the size and type of the company’s business.

Accounting records and annual returns

The GBC Company is required to file annual audited accounts to the Mauritius Financial Services Commission. The first filing must take place 6 months from the end of the company’s accounting period. It is mandatory to maintain the accounting records at the GBC Company’s registered office in Mauritius.

Taxation

According to the Companies Act 2001 as it was amended, GBC Companies are currently subject to the regulations of the Companies Act 2001 and Financial Services Act 2007. GBC Companies may qualify as tax residents in Mauritius subject to substance requirements and therefore benefit from the provisions of the Mauritius wide network of Double Tax Treaties. According to the provision of the Double Tax Treaties concluded by Mauritius, the withholding tax imposed on profits from that country may be subject to a total or partial deduction.

The tax rate imposed to the income of GBC Companies in Mauritius is 15%, although, the company is eligible for an 80% partial exemption of the tax payable which is considered as foreign tax credit. This means that the company’s income is essentially taxed at 3%, once the partial exemption is applied. There is also a full exemption from tax for capital gains, incoming dividends, interests coming from a company, income generated from companies in the business of leasing vessels and aircrafts and profits from a permanent establishment of a foreign company abroad.

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