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Learn more about Mauritius
The Republic of Mauritius is a democratic republic and has a population of more than one million people. It is located in the Indian Ocean from the south-east coast of Africa.
Law & Taxation
The latest Companies Act 2001 allows for two categories of companies: GBC2 and GBC1:
The Category 2 Global Business Licence (GBC2): it is similar in structure to an international business company (IBC). It is not subject to taxation in Mauritius except for an annual government fee payable to the Financial Services Commission (FSC), and an annual registration fee which is payable to the Registrar of Companies (ROC).
The Category 1 Global Business Licence (GBC1): It is suitable to be used to access the international tax treaties which the Mauritius government signned with the others. GBC1 companies, as tax incentive companies, are subject to taxation at a rate of up to 3% since GBC1 can structure their affairs to take advantage of a series of tax credits, which may significantly reduce the effective rate of taxation. Moreover, GBC1 may elect to pay a higher rate of tax to satisfy controlled foreign company legislation in the country of residence of a parent company.
Companies which fail to pay annual fees to the government, and the officers of such companies, are in default and could be subject to prosecution in Mauritius.
Both GBC2 & 1 companies must have a registered office and registered agent or management company in Mauritius. Chinese character names are permitted and may be included on a company’s Certificate of Incorporation.
GBC2: It needs at least one director and one shareholder. Corporate directors are permitted, GBC2 are precluded from issuing bearer shares. Details of members, directors and officers of GBC2 must be registered with the FSC and ROC, but they are not available for public inspection. A declaration of details of beneficial owners and ultimate beneficial owners must be filed with the FSC; any changes of the corporate structure and shareholdings must be notified to the FSC and COR respectively. Every GBC2 company is required to file an annual financial summary with the FSC.
GBC1: It is expensive to establish due to tighter compliance and residency requirements, in return, it can access double tax agreement (DTA) benefits. A GBC1 company must have at least two local directors and one shareholder which are natural persons only. Local company secretary is required. Details of directors and members must be kept with the FSC and ROC. Annual audited account is required by the FSA. It must demonstrate that management and control are exercised in Mauritius