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Mauritius Offshore Incorporation GBC2
Mauritius is situated in the Indian Ocean approximately 800 km off the East Coast of Madagascar with a population of 1.2 million. Expanding foreign investment is the top strategy by the government to create economic growth. Mauritius has attracted more than 15,000 offshore entities with investment in the banking sector reaching over US$ 1 billion in 2008. A Global Business Company (GBC) can be incorporated, in Maurities.
Snapshot
- Currency: Mauritian Rupee (Rs.)
- Language: English and French
- Time zone: GMT plus 4
- Population: 1.2 million
Company Setup Requirements
- Minimum 1 Shareholder + 1 Director
- Minimum paid-up capital of US$1
- A local registered office address
Features of GBC2
- GBC2 income is tax exempted.
- GBC2 companies do not have access to the network of Double Taxation Agreements of Mauritius.
- No capital gains or withholding tax.
- Dividends paid by a GBC2 are tax exempt.
- GBC2 companies cannot engage in business in Mauritius.
- A GBC2 is highly suitable vehicle for holding and managing private assets.
Global Business Company Category 2 (GBC 2)
Mauritius GBC2s are companies incorporated under the Companies Act 2001 with a category 2 Global Business License. A GBC2 is a private entity that conducts business outside Mauritius and may not carry on business in Mauritius (subject to a number of statutory exceptions). A GBC2 may be locally incorporated or registered as a branch of a foreign company. GBC2s are regulated by both Mauritius Companies Act 2001 and the Financial Services Act 2001. Confidentiality is strictly observed in terms of the FSD Act. The identity of the beneficial owner needs to be disclosed only to the registered agent and to the banker if a bank account is required in Mauritius. The documents with the registrar of companies are accessible only to the shareholders of the company; therefore, the identity of the beneficial owner can largely remain confidential. A GBC2 is highly suitable vehicle for holding and managing private assets.
Features of GBC2
- Minimum capital requirement is US$1
- Fractional shares are allowed while Bearer shares are not allowed
- Shares may be subscribed by nominees
- Minimum one Shareholder and the shareholder may be an individual or corporate
- A GBC2 may acquire, redeem, reissue or purchase its own shares
- Minimum one director who may be individual or corporate
- Appointment of Company Secretary is optional
Merits of GBC2
- Tax exempted therefore the tax cost of a GBC2 is basically the foreign tax suffered
- No withholding tax on dividends
- No capital gains tax
- No stamp duty on transfer of shares
- There is no requirement for Local Resident Director or Shareholder
- Free repatriation of earnings
- Migration of a foreign company to/from Mauritius is permitted
- Not required to file accounts with the authorities
- Shareholders and Directors meeting can be held anywhere
- Nominee shareholder and guaranteed confidentiality facilitates complete privacy
Limitations
- GBC2 companies do not have access to the network of Double Taxation Agreements of Mauritius.
- It is not permitted to raise capital from the public.
- It cannot provide financial services or other services as fiduciary in any investment fund or any collective investment scheme.
- It cannot carry out business of company formation, administration and management or provide professional nominee or trusteeship services.
Step 1 – Submit Incorporation order form.
Please provide us your email address and we will email you the necessary incorporation forms.
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Upon receipt of the above from you, we will
- Check your proposed company’s name availability
- Follow-up with you to clarify queries (if any) and advise accordingly
- Send you an invoice for our services.
Step 2 – Make Payment
Upon receiving the payment for our services, we will prepare the incorporation documents to be duly signed either in Singapore before us or overseas before Notary Public.
Step 3 – Incorporate Company
Upon the signing of the incorporation documents, we will proceed to register the Mauritius Offshore Incorporation GBC2. Once the company has been incorporated, you may proceed to open a corporate bank account.
