Mauritius, an island nation east of Madagascar off the southeast coast of Africa, gained independence in 1968. Mauritius is divided into ten districts and three dependencies, and its capital is Port Louis. Further, its official language is English, and its currency is the Mauritian rupee (MUR).
A stable democracy with regular free elections and a positive human rights record, the country has undergone an incredible economic transformation from a low-income, agricultural based economy to a diversified, upper-middle-income country that has attracted considerable foreign investment and has one of the highest per capita incomes in Africa region.
Moreover, Mauritius is ranked among the 20 best places to do business in Africa and worldwide. The country has moved seven places up to 13th position out of 190 countries according to the latest World Bank Ease of Doing Business Report 2020, issued on 24 October 2019.
Further, Mauritius offers amazing business opportunities across the different sectors such as:-
- Seafood & aquaculture
- IT & BPO
- Financial services
- Healthcare and medical
- Renewable energy
It can be noted that the most common options for the foreign companies establishing their business setup in Mauritius are:-
- Establishing a Mauritian subsidiary company
- Registering with the Registrar of Companies as a branch of a foreign company.
- Establishing a joint venture with a local company.
Hence, in order to further stress with regard to the above, there are majorly 3 types of companies in Mauritius:-
- Type 1: Global Business License Company (erstwhile GBC 1)
A corporation in which the majority of shares or voting rights are held and controlled by a person who is not a citizen of Mauritius and such company proposes to conduct or conducts business principally outside or within Mauritius. A GBL entity is resident for tax purposes to the extent that it is managed and controlled from Mauritius and can take advantage of any double tax treaties that Mauritius has with various countries.
- Type 2: Authorised Company (GBC 2)
A corporation in which the majority of shares or voting rights are held and controlled by a person who is not a citizen of Mauritius and such company proposes to conduct or conducts business outside of Mauritius. Central management and control of such company is outside Mauritius.
- Type 3: Domestic Company (DC)
A domestic company is domiciled and it can do business only within Mauritius. Shareholders of a domestic corporation can be either non-resident or resident. However, it must have at least one director who is resident in Mauritius.
The services regarding the company formation in Mauritius generally include:-
- Incorporation of the company
- Provision of Registered Address
- Registration with the Registrar of Companies
- Services of Company Secretary
- Tax and VAT registration
- Opening of Bank Account
- Other Maintenance & Compliance Services (such as service renewals, accounting, drafting of the financial statements & corporate tax filings)
The whole process of company registration in Mauritius can be completed in 2-3 week however, please consider the time one takes to provide with all the necessary valid documents and power to company formation experts in the correct form.
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