APGI - Mauritius Global Business Company
APGI - Mauritius Global Business Company
From €1195.00/US$1495.00
Mauritius Global Business Company (Type 2) Overview
Mauritius is strategically located in the Indian Ocean with a favorable time zone (GMT + 4) and a long history of free enterprise.
Mauritius has been actively involved in regional co-operation and is a member of the Common Market for Southern and Eastern Africa (COMESA), the Southern African Development Community (SADC) and the proposed Indian Ocean Rim Association.
Politically, Mauritius has the tradition of a democratically elected government and has enjoyed political stability for decades.
Mauritius: THE INTERNATIONAL FINANCIAL SERVICES CENTER
Comprehensive legislation was introduced in Mauritius to pave the way for non-banking offshore activities, following the set up of the first Mauritius Offshore Bank in August 1989. The Mauritius Offshore Authority was set up in November 1992 by agreement with the Mauritius Revenue Authority. The Mauritius Offshore Authority played a crucial role in establishing and developing the Mauritius Offshore sector at large. The Mauritius Offshore Authority has adopted a professional and pragmatic regulatory approach by continuously improving on its services and guiding operators on enhancing the competitiveness of the Mauritius Offshore Jurisdiction.
The Mauritius Financial Services Development Act 2001 (FSDA Act) also provides for the Mauritius Financial Services Commission (FSC) to act as a one-stop-shop in all matters relating to Global Business.
The approved Global Business activities in Mauritius include:
- Aircraft financing and leasing.
- Asset Management.
- Consultancy Services.
- Employment Services.
- Financial Services.
- Fund Management.
- Information and Communications Technology.
- Insurance.
- Licensing and Franchising.
- Logistics and Marketing.
- Pension Funds.
- Shipping and Ship Management.
- Pension Funds.
- Trading.
Mauritius Global Business Company Information and Features
- Mauritius GBC2 Features
- Mauritius Jurisdiction Information
- Mauritius Key Features
- Mauritius - The Country
- Mauritius Schedule of Fees
Mauritius GBC2 are companies incorporated under the Mauritius Companies Act 2001 with a category 2 Global Business Licence. GBC2 companies are designed for business outside of Mauritius and may not carry on business in Mauritius (subject to a number of statutory exceptions). GBC2s are commonly used for the holding / ownership of investments and assets( real estate or shares or other property)commercial transactions and international trading operations asset protection consultancy companies.
FEATURES & BENEFITS OF MAURITIUS GBC2 COMPANIES
Fiscal Advantages:
Mauritius taxation on foreign income: No
Mauritius stamp duty on transfer of GBC2 shares: No
Minimum annual Mauritius Government License fee (aggregate): US$ 200
Directors:
Minimum number of directors: 1
Corporate directors permissible: Yes
Local director requirement: No
Publicly accessible records of directors: No
Location of directors meetings: Anywhere
Shareholders (Members):
Minimum number of shareholders: 1
Corporate shareholders permissible: Yes
Local shareholder requirement: No
Location of shareholders meetings: Anywhere
Publicly accessible records of shareholders: No
Beneficial Owners (clients):
Publicly accessible records of beneficial owners: No
Shares may be held by a nominee on behalf of beneficial owner client.
Company Secretary:
Appointment of Company Secretary requirement: Optional
Share capital:
Stated Capital: With the Companies Act 2001, the concept of authorized share capital has been abolished. A GBC2 company can now issue shares without any restriction.
Standard Minimum Paid up Capital: US$1
Standard currency: USD,EUR,GBP
Permitted currencies: any (except Mauritian Rupees)
Registered shares (bearer shares not permitted):
Accounts and returns:
Requirement to file annual Accounts: No
Audit requirement: No
Publicly accessible Accounts: No
Requirement to file annual company return: No
Other:
Migration/redomiciliation of companies to or from Mauritius : Yes
Double taxation treaty access: No
Confidentiality: no publicly accessible records of directors or shareholders or beneficial owners / clients; and use of nominees permitted; Permitted currencies: any (except Mauritian Rupees).
Registered shares (bearer shares not permitted).
Accounts and returns:
Requirement to file annual Accounts: no
Mauritius General Information
Mauritius is on of the fastest growing offshore financial center in the offshore world. As of this publication Mauritius has not been classified as a tax haven by the OECD and does not hold any exchange of information agreements with any country. Mauritius' ever expanding network of double taxation treaties has made it the major route for investments into China, India, Indonesia as well as South Africa.
Due to the implementation of new European Tax Saving Directives and the ever increasing tightening of legislation in traditional offshore jurisdictions like the BVI has made Mauritius an attractive alternative jurisdiction for offshore company incorporation. This is further enhanced by the existing strong liberal economy in Mauritius as well as a very reputable banking system. A Mauritius Offshore Bank provides a wide variety of offshore banking services. The Mauritius Revenue Authority has undertaken special legislation in order to facilitate the operation of Mauritius Offshore Banks.
Mauritius has strived to place itself on different level when compared to such jurisdiction as the Seychelles, Panama, Belize , Turks & Caicos, Vanuatu, Barbados, Anguilla, St Lucia amongst other offshore jurisdictions. Mauritius is a diversified country with an expanding economy comprised of a modernized agricultural community as well as an advanced manufacturing and services industry. Mauritius also boasts an extensive network of double tax avoidance treaties with most western European, Asian & African countries. Mauritius has been deemed as the one of if not the favorite route for investment and mutual funds investments in India and China. Some of the largest funds in the offshore investment industry like Oppenheimer, Merryl Lynch, and Schroders are based in Mauritius.
Keep in mind that Mauritius is not a member of any Tax Information Exchange Agreement or Mutual Legal Assistance in Criminal Matters Treaties, which is an excellent for choosing Mauritius as your offshore jurisdiction of choice.
Regulatory Framework of a Mauritius GBC2 Company
Key features of a Mauritius GBC2
- Issue shares with or without a par value (sec.345) or fractional shares.
- All information on GBC2 are confidential and not available for public inspection.
- Have shareholders or directors who are corporate bodies or natural persons.
- May be limited by guarantee or limited by shares or unlimited.
- Be managed by its members or by a Board comprising one or more directors.
- Be established with partnership-type characteristics e.g. limited life provisions.
- May but does not need to have a constitution or bye-laws.
- It does not require file annual returns or audited accounts.
- Does not need to have local director, shareholder or secretary.
- The minimum number of shareholder and director required is one.
The GBC2 Company shall be a private company and shall at all times have a registered agent, and a registered office in Mauritius. We provide this services when we incorporate your company and we are available for the transfer of existing companies to our registered agent service in Mauritius as well.
A GBC2 Company is prohibited from :
- Undertaking business transactions with Mauritius residents or in the Mauritius Rupee.
- Owning any interest in real estate situated in Mauritius.
- Having as beneficial owner an individual or resident in Mauritius.
- Holding shares or debentures or any interests in a Mauritius domestic company.
Fiscal Regime
A GBC2 Company is non resident for tax purposes and is therefore it is not subject to taxation in Mauritius on its income. This includes dividends or interest paid to a non-resident or on any royalties, rents or compensation paid by the Mauritius Company. Moreover any gains or profits derived from the sale of shares, debt obligations or other securities of the Mauritius Company are also tax exempt.
A GBC2 Company is exempt from the payment of any duty, or levy.
A GBC2 Company is not allowed to access the benefits available under the double taxation avoidance treaties.
Continuation - Migration - Merger
A GBC2 Company may transfer its incorporation to another jurisdiction in the case it finds it necessary to do so.
A foreign company may continue as a GBC2 Company in Mauritius.
A GBC2 Company may merge or consolidate with another/other companies incorporated in another jurisdictions under the provisions made in the Act.
Incorporation - Cost - Time-Frame
A GBC2 CompanyMauritius fairly quickly - within two to three days.
Mauritius - The Country
General Information
Mauritius is located in the Indian Ocean approximately 800 km off the East Coast of Madagascar.
Population
The current population of Mauritius is approximately 1,200, 000 made up principally of people of European, African, Indian and Chinese descent. Mauritius takes pride in the fact that this array of different cultures co-exist in peace and have achieved the creation of a cultural entity that is distinctly considered Mauritian.
Political Structure
The British ruled Mauritius for 158 years until March 12, 1968, when it became an independent nation within the Commonwealth. The Republic of Mauritius has implemented a Westminster style democracy. The President is the Head of State and Commander in Chief. Full executive power rests with the Prime Minister who is Head of Government. The Members of Parliament are elected every five years by popular vote and a number of political parties contest the elections, every five years, reflecting the country's firm commitment to a multi-party political system.
Economy
Since independence in 1968, Mauritius has developed from a low income, agriculturally based economy to a middle-income diversified economy with growing industrial, financial, and tourism sectors. Annual growth has been shown to be around 5% to 6%.
The government's development strategy centers on foreign investment. Mauritius has attracted more than 15,000 offshore entities, many aimed at commerce in India and South Africa, and investment in the banking sector alone has reached over US$1 billion.
Language
English is the official language. However, the Mauritius population is largely bilingual, being equally fluent in English and French. Creole is also spoken and understood by everyone.
Currency
Mauritius Rupee.
Exchange Control
None.
Type of Law
Common Law for corporate matters.
Principal Corporate Legislation
- The Companies Act 2001.
- Financial Services Development Act 2001.
Schedule Of Fees
| Basic Fees: Belize IBC | € EURO | $ US DOLLAR |
|---|---|---|
| Annual License Fee: | Included | Included |
| Annual Registered Office fee: | Included | Included |
| Annual Registered Agent fee: | Included | Included |
| Incorporation Fees: | Included | Included |
| TOTAL FIRST YEAR FEES: | €1195 | US$1495 |
| Additional Services: | € EURO | $ US DOLLAR |
| Corporate Seal | €40 | US$50 |
| Open Bank Account in Mauritius | €420 | US$525 |
| Power of Attorney | €240 | US$300 |
| Certificate of Good Standing | €140 | US$175 |
| Notarization per document or set | €140 | US$175 |
| Apostille per document or set | €180 | US$225 |
| Nominee Director | €420 | US$525 |
| Nominee Shareholder | €420 | US$525 |
| Annual Fees: | € EURO | $ US DOLLAR |
| Maintenance Fee | €580 | US$725 |
| Nominee Director | €420 | US$525 |
| Nominee Shareholder | €420 | US$525 |