Notice to Hong Kong corporate bank account opening:

Update on August 4, 2017 by AsiaBC: Hong Kong banks can accept Hong Kong, Cayman Islands, Samoa and Seychelle incorporated bodies to open business bank accounts in Hong Kong. Assistant service details of our promotional package: Hong Kong bank account opening (Refund on No Win).

Formation Service:
Mauritius Global Business Company

National Flag of the Republic of Mauritius

Basic Fact of Seychelles
Languages:English, French
Legal System:Hybrid of British Common Law and Civil Law
Currency:Mauritian rupee
Time Zone:GMT +4

Republic of Mauritius (Mauritius) is an English-speaking, multi-cultural island country in the Indian Ocean, residents are mostly descendants from India, Africa, Frence and China, they have the highest per capita incomes in Africa region.

This Indian Ocean archipelago is a model of stability and economic prosperity in the region. It is an expanding offshore financial centre enjoying a stable political atmosphere, strong liberal economy, reputable banking system and expanding network of double tax treaties, attracting investment for from India, Africa and China.

Being an independent Republic within the British Commonwealth, the government of Mauritius has been elected democratically. The China Embassy in Mauritius is helpful offer apostille and certified true of the documents needed to be processed in China.

Network of double tax treaties

Mauritius has concluded Double Taxation Avoidance Agreement (DTAA) with the following jurisdictions:

Asia Africa Europe Other
Bangladesh Botswana Belgium Australia #
India Congo
(Republic of)
Croatia Barbados
Malaysia Egypt Cyprus
Nepal Lesotho France
Oman Madagascar Germany
Pakistan Mozambique Guernsey
China
(People’s Republic of)
Namibia Italy
Seychelles Rwanda Luxembourg
Singapore South Africa Malta
Sri Lanka Swaziland Monaco
Qatar Tunisia Sweden
Thailand Uganda United Kingdom
United Arab Emirates Uganda
Kuwait Zambia
Zimbabwe

Remark #: Partial

  • 5 treaties await ratification : Gabon, Kenya, Morocco, Nigeria and Russia
  • 4 treaties await signature : Burkina Faso, Cape Verde, Ghana and Jersey
  • 18 treaties being negotiated : Algeria, Canada, Czech Republic, Gibraltar, Greece, Hong Kong, Lesotho (New), Montenegro, North Sudan, Portugal, Republic of Iran, Malawi, Saudi Arabia, Spain, St. Kitts & Nevis, Tanzania, Vietnam and Yemen

Source: Mauritius Revenue Authority

Offshore Company in Mauritius:
Global Business License Category 1 and 2 (GBC 1 and GBC 2)

For foreigner investors and enterprises, they can apply for Global Business License Category 1 or Category 2 (GBC 1 or GBC 2) from Mauritius Financial Services Commission (FSC) to utilize their Mauritius limited companies for conducting global businesses.

AsiaBC can setup Mauritius limited company for you, and apply for  based on your background and maximum benefit. We have prepared a comparison of GBC 1 and GBC 2 for your reference.

Mauritius GBC-1 vs GBC-2
Type of Mauritius Global Business LicenseCategory 1 (GBC-1)Category 2 (GBC-2)
IncorporationMauritius Financial Services Commission (FSC) under the provision of the Companies Act 2001
Mauritius Financial Services Commission (FSC) under the provision of the Companies Act 2001
PurposesA tax resident in Mauritius for conducting business with residents of Mauritius. Access to the network of double taxation treaty and provide financial & insurance services in Mauritius upon obtaining required licenses issued by the Mauritius Revenue Authority and respectively.A non-tax resident for global businesses outside of Mauritius. May not carry on local business and cannot engage in financial activities in Mauritius.
Privacy Protection– No Publicy accessible records
– Nominee shareholders allowed
Same as GBC-1
Shareholders– Minimum of one shareholder
– Corporate shareholders allowed
– No local shareholder requirement
– No shareholders meetings location requirement
– Bearer shares not allowed
Same as GBC-1
Directors– Minimum of two local resident directors
– Corporate directors not allowed
– Meetings including at least 2 resident directors
– Director meeting location in Mauritius required
– Minimum of one director
– Corporate directors allowed
– Non-local director allowed
– No meetings location requirement
Company SecretariesAppointment of a Mauritius Management Company acting as company secretary requiredAppointment of company secretary is optional, but GBC-2 must have a local registered agent to complete the registration and maintenance.
Registered Office AddressOne local address requiredSame as GBC-1
Tax Incentives– Subject to Mauritius tax, maximum tax payable on foreign income is 3% due to tax allowance.
– Royalties, Interests, Service fees payable to foreign affiliates are allowed as expenses provided reasonable and correspond to actual expense incurred.
– Duty concessions on offices equipment, furniture and motor vehicles.
– Exempt from all Mauritius tax (i.e. no capital gains tax or withholding tax)
Accounts & Return– Annual audited account required
– Quarterly and annual tax filing required
– Annual company return not required
Annual financial summary required
Common usage– Private Equity / Hedged Funds
– Investment Dealer/Broker
– Investment Adviser
– Fund Manager
– Payment Services Provider
– Investment holding
– Property holding (e.g. real estate)
– Wealth protection
– E-commerce
– International trade
– Trade invoicing
– Intellectual property ownership
– Consultancy services
Remark: GBC-2 are not allowed to engage in financial activities

Notes to GBC 1

Mauritius GBC 1 company has been commonly used by foreign business to structure investments and projects with jurisdictions which has double tax treaties signed with Mauritius, so every GBC 1 company must has management and controlling substance of the business in Mauritius, tax authority’s consideration are as follows:

  • at least 2 directors who must be resident in Mauritius
  • maintain its principal bank account in Mauritius
  • maintain its accounting records at its registered office in Mauritius
  • prepare for its audited financial statement in Mauritius
  • include at least 2 local directors to attend every director meetings
  • comply with either ONE of the ongoing requirement as follows:
    • having at least one office premises in Mauritius
    • employing at least one local staff on a full-time employment basis at an administrative or technical level
    • choosing Mauritius as the seat for arbitration of disputes
    • possessing immovable asset valuated minimum Mauritius rupee $100,000 in Mauritius
    • listing on Mauritius Stock Exchange
    • incurring reasonable expenditures in Mauritius

Source: Mauritius Financial Services Commission

Information and documents

Note

EITHER FORMATION OF A BRAND-NEW COMPANY OR BUYING A SHELF COMPANY (READY-MADE COMPANY), THE REQUIRED DOCUMENT IS ALMOST IDENTICAL.

Company Name:

  • Must be unique in company registrar of Mauritius government
  • English name is compulsory, Chinese name is optional

Shareholder(s) and Director(s):

  • Full name / Company Name
  • Residential Address / Registered Office Address
  • Nationality / Place of Incorporation (passport copy / incorporation document copy)
  • Distribution of shareholdings among shareholder(s), if any
  • Shareholder(s) is can be appointed as Director(s)

Registered Office Address:

  • One local address in Mauritius
  • One corresponding address for communication with owners.

Document Certification:

  • Certificate of Incumbency or Good Standing is required.

Annual Maintenance

Note

RENEWAL OF Mauritius GBC-2 IS GENERALLY SIMPLE, RENEWAL OF Seychelles GOVERNMENT LICENCE IS THE MAJOR PART.

Just Ask

AsiaBC can establish GBC 1 and GBC 2 company in Mauritius for you.

Please write your questions about doing global business in Mauritius in below contact form, we will answer you via email and phone call by next business day.

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