Mauritius is a small island just off the coast of Africa and not only does it act as an amazing tourist destination, but it also offers attractive business opportunities. Many entrepreneurs and foreign investors choose to open their offshore companies on this island mainly because of the flexible taxation laws as well as the numerous taxation treaties that the island signed with countries such as Sweden, Belgium, China, Thailand, and the U.K.
Mauritius offshore company
An offshore company, called a GBC 1, in Mauritius offers many benefits. Tax on dividends is a mere 15%, tax on royalties is as low as 15%, taxation on interest earned is 0%, and there is 20% taxation on capital gains. A GBC 1 company is subject to 15% tax on the profit made by the company, but the company may claim 80% of that amount back.
The company must be wholly owned by at least one shareholder and bearer shares are not allowed. All details of the shareholder must be submitted and these details include names, surnames, proof of residence, and copies of identification and passports. The company has to have at least 1 director who has to be a resident of Mauritius and he must file audits of the company 6 months after the close of the financial year.
A Mauritius offshore company can be finalised and incorporated within 10 days. Along with the submission of the necessary documents, the name of the company, as well as a breakdown of the company’s business activities, need to be submitted. A bank account has to be opened in order to conduct business and a certificate of the Mauritian tax authorities needs to be obtained.
For more information regarding company formation in Mauritius, contact us today and one of our helpful agents will be able to assist you.