A Foolproof Guide to Company Formation in Mauritius

A Foolproof Guide to Company Formation in Mauritius

Mauritius has sophisticated legal, banking, infrastructure, and accounting system. The nation also offers an exemption from local taxes and anonymity, making it a great destination for international investors.

There are many licenses available to facilitate Company Formation in Mauritius. These include the following -

• The Global Business license
• Payment Service Provider license or The Payment Intermediary Service license (PIS)
• Investment Dealer license - with and without underwriting
• Investment Advisor license
• Insurance Broker license
• Regulatory Sandbox License (RSL for Fintech companies).

Company Incorporation in Mauritius

The financial services commission licenses global business license organizations in the nation. As a result, your business enjoys specific confidentiality. Further, there are no minimum capital requirements for setting up such businesses. A single shareholder can also start their own business. Similarly, a company can be limited by shares or guarantees. Such businesses are ideal for setting up the following type of businesses -

• Aircraft leasing
• Asset management
• Financial services
• Insurance
• licenses or franchising
• Logistics
• Shipping or ship management business
• Trading company
• Marketing
• Consultancy services
• Fund management
• Operational headquarters

Hence, while setting up your company in the country, you need to fulfill the following conditions -

• If you wish to apply for a global business license, you need to satisfy the criteria mentioned by the Financial Services Commission. It helps evaluate if you have the necessary expertise to undertake these operations.
• While applying for the license mentioned above, your business must meet the substance requirements for local directors, regional offices, etc. Through the aid of the right facilitator, the business registration and bank account management can be completed without visiting the region.

Choosing facilitators also means that they will help you get the right human resources, real estate, occupation permits, etc. They also facilitate meeting the guidelines of the Economic Development Board.

• The Incorporation Procedure

Opting for Company Incorporation in Mauritius takes around three days. Primarily, a name search is undertaken to identify if the selected company name is taken up. If yes, you may need to change your business name.

• The Share Capital

A Mauritius International Business Company (IBC) or GBC2 company is started by issue of bearer shares. Such shares cannot be offered to the general public. Similarly, the IBC cannot -

• Conduct banking or insurance business
• Own or manage a collective investment or fund.

However, there are no minimum capital requirements, yet a minimum of one share must be issued and subsequently paid up. The following types of shares can be issued -

• Registered
• Preference shares
• Redeemable shares
• Redeemable preference shares
• Fractional shares, etc.

• Directors, Shareholders or Secretary

A minimum of one director and shareholder is mandatory to begin a company in the region. The names of such officials do not appear on the public records. Similarly, there is no requirement to appoint a secretary or file annual audited accounts. However, the business must submit a financial summary with the FSC or Financial Services Commission.

The company must have a registered office or agent in the region.

• Taxations

An IBC is not subjected to taxes in the country. However, the business needs to pay annual government charges (payable to FSC) and an annual registration fee (payable to the Registrar of Companies).

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