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Types of Offshore Companies in Mauritius

Types of Offshore Companies in Mauritius

Foreign investors who come to open companies in Mauritius have several choices when it comes to the legal structures they can employ. Out of all of them, however, the offshore company remains the most popular thanks to the country’s reputation as an offshore center.

What a businessperson needs to know is that there are two types of companies that can qualify as offshore entities in Mauritius.

If you are interested in opening an offshore company in Mauritius, our company formation agents are at your service with various services. You can rely on us no matter the type of company registration services you need in Mauritius.

Types of Mauritius Global Business Companies

The Mauritius offshore company is known as the Global Business Company (GBC) and is categorized into:

  • the Global Business Company 1 (GBC1);
  • the Global Business Company 2 (GBC2).

Recent changes in the legislation, however, led to Mauritius offshore companies being renamed Mauritius Global Business License Companies (GBL) and Mauritius Authorized Companies (AC).

If you are interested in business registration in Mauritius, the offshore company might suit your needs. More information on their features can be provided by our local specialists.

The Global Business Company is an offshore entity that conducts business out of Mauritius and gains access to the DTA network, which makes it an affordable corporate tool for global tax planning. For more information on global business companies, you can ask our local agents. We can also help if you choose another legal entity to open a company in Mauritius.

A significant number of financial specialists support Mauritius’ reputation as a provider of top-notch financial services to clients worldwide. The Financial Services Act, the Insurance and Securities Laws, and the Financial Services Act all govern the Mauritius Forex License which can be obtained with our help.

The Category 1 offshore company in Mauritius

The first type of offshore company in Mauritius is the Category 1 GBC which is characterized by the following:

  1. it is deemed as a Mauritius corporate entity which is licensed by the Financial Services Commission (FSC) as a Category 1 Global Business;
  2. even if it is a resident company, it can complete various activities outside the country;
  3. it can also be used by foreign companies as a branch or subsidiary in Mauritius;
  4. foreign companies seeking re-domiciliation can use the GBC1 form to operate in Mauritius.

In order to open a company in Mauritius through the GBC1  entity, a foreign or local investor will not need to meet any minimum share capital requirements. Moreover, the share capital can be denominated in any currency.

Among the other requirements related to the creation of an offshore company in Mauritius under the Category 1 license, we also mention the fact that it can carry out any activity as long as is does not affect the public interest or the reputation of the country as a financial services center. It should also be noted that in most cases, the Mauritius offshore company is used for holding purposes.

If you are interested in Mauritius company formation, you can rely on the expertise of our consultants for incorporation services. Our accountants in Mauritius are also at your disposal with tailored services.

Category 2 offshore company in Mauritius

The authorized company or the Category 2 offshore company is another business form that can be used for foreign investors who want to complete activities outside Mauritius. This type of company offers a high degree of protection to the shareholders. In terms of registration requirements, these are not different from the Category 1 offshore entity.

Our company formation advisors in Mauritius can offer detailed information on how to create a Category 2 offshore company here.

We can also help with the creation of a Mauritius offshore bank account.

Local and foreign banks that hold a license from the Bank of Mauritius make up the island’s banking sector. Many Mauritius banks provide services that let foreigners manage their accounts online and conduct transactions, like mobile payments and internet banking services. These are just a few of the reasons to open a bank account in Mauritius as a non-resident.

Differences between the two types of Mauritius offshore companies

While in terms of similarities, offshore companies can be used for conducting operations outside Mauritius, when it comes to differences, there is more to consider.

The most important aspect to take into account when choosing between the two forms of Mauritius offshore companies is related to taxation. From this point of view:

  • Category 1 GBC companies are considered a tax resident and have access to Mauritius’ double tax treaties, while Category 2 companies do not;
  • GBC 1 companies are exempt from filing annual returns compared to Category 2 GBCs.

Offshore companies with a Category 2 license are required to file their annual accounts with the Mauritius Revenue Authority.

If you need assistance in setting up an offshore company in Mauritius, our specialists can guide you.

We also provide immigration support in Mauritius.

If you want to immigrate to Mauritius, there are numerous ways to become a permanent resident of this country, and which one is appropriate for you will depend on your family and personal situation. This is why, before starting the relocation procedure, you can get in touch with our immigration specialists for support with the application.

A foreign investor can obtain permanent residency in Mauritius if they invest at least USD375,000. Once they are granted permanent residence, they won’t need to apply for a work or residence permit. With the applicant’s assistance, their spouse and children will also be eligible to obtain permanent residence. After living here sufficiently, they can also apply for Mauritius citizenship.

One of the main reasons for opening a bank account in Mauritius as a natural person is employment. Companies here transfer money to employees’ accounts, as this is the most effective and quickest procedure to keep track of people’s work. It is also common for businesses to work with certain banks in this sense, thanks to lower administration fees.

Taxation of offshore companies in Mauritius

When it comes to the taxation of Mauritius offshore companies, foreign investors need to know the following:

  • the Global Business License Company (Category 1) benefits from 80% exemption from the corporate tax;
  • the Authorized Company is subject to a corporate income tax ranging between 0% and 3%;
  • compared to them, other companies must pay the corporate tax at a rate of 15%;
  • Mauritius has around 40 double tax treaties with countries all over the world.

Offshore companies can also be used to engage in forex activities. It is worth considering the Mauritius Forex License for a number of reasons. Obtaining a license in this country is both cheaper and simpler. A participant in the Forex market is also permitted to offer brokerage services in the majority of the nations in Europe, Africa, and the Asia-Pacific area. So, feel free to address our specialists if you want to apply for this type of permit.

If you are interested in set up a company in Mauritius under the form of an offshore company, do not hesitate to contact our local representatives for business registration services.

Every person currently born in Mauritius is regarded as a Mauritian at the time of his birth, according to the Constitution. Therefore, if neither of a person’s parents were citizens of this country at the time of his birth, he cannot become one. If you are a foreign citizen seeking to obtain citizenship in Mauritius, you can contact us for support. Opening a Mauritius bank account is mandatory when investing in real estate development under the citizenship by investment programs. The government imposes this step as part of the due diligence procedure for approving foreign purchases under the schemes created for foreign investors and retires.