Mauritius is a small state on islands in the Indian Ocean, known for its beaches, lagoons and reefs.

Mauritius consists of several large and several small islands. The total area of the country is 2045 square meters. km The capital of Port Louis.

Mark Twain once wrote that Mauritius was first created, and then paradise. Figuratively speaking, this phrase makes sense. Mauritius is justifiably famous for its sapphire waters, snow-white beaches and luxurious resorts, and the average water temperature does not drop below 23 ° C all year round.

However, Mauritius boasts not only beaches, as you can go hiking in wooded and mountainous areas, as well as diving and snorkeling in the sea. Take a boat ride to the paradise islands and visit the botanical gardens and colonial plantation houses.

Mauritius is a fabulous gastronomic place.

Registering a company in Mauritius is a great way to get an effective tool for international tax planning and a great time.

• Limited liability company.
• Guarantee company.
• Mixed liability company.
• Unlimited liability company.
• Foreign company.
• Limited life company.

There are three main categories of companies in Mauritius.:

1. Local companies.
2. Category 1 Global Business Licensed Companies.
3. Category 2 Global Business License Company.

The Mauritius Financial Services Commission is the regulatory body for the financial industry and authorizes the creation of certain types of companies, such as the Global Business License. An important factor in choosing the type of company in Mauritius is the tax regime.

Any company registered in Mauritius that plans to conduct business outside of Mauritius will be considered as carrying out global entrepreneurial activity, respectively, can apply to the Financial Services Commission for a "Global Business License" category 1 or category 2 license.

An application for a license of any category can only be submitted by companies approved by the Financial Services Commission (FSC).

The company's goal is to conduct business outside of Mauritius. However, this company may also to some extent conduct business in Mauritius. An acceptable share of local business is the range of 10-15%.

GBL1 companies are Mauritius tax residents and may benefit from certain tax benefits. In order to take advantage of double tax treaties, a company with a GBL1 license must manage and control Mauritius.

Mauritian company with a global business license category I (Global Business Companies):

• It is a tax resident of Mauritius.
• It is required to pay income tax, but a company of this type may receive a partial exemption in the amount of 80% of the total income tax rate (effective maximum rate is 3%). However, exemption may apply to certain types of income (see GBC Tax 1).
• This type of company can be used to conduct business both in the territory of Mauritius (in particular, to open a bank account), and beyond.
• You have the right to use double tax treaties.
• This can be either a registered local company or a branch of a foreign company.
• There is no withholding tax on dividends.
• No capital gains tax.
• The company must have an account in Mauritius.
• Accounting and auditing required in Mauritius.
• Mauritius must have at least two resident directors.
• Must have an office in Mauritius.
• There should be full-time employees.

The company is granted a tax credit of 80% of the standard tax rate (15%) for the following types of income:

• Dividends from foreign companies.
• Interest income from foreign sources.
• The profit is associated with the permanent establishment of a resident company in another country.
• Income from foreign sources received from investment activities of licensed participants.
• Income received by ship and aircraft rental companies.

The purpose of creating a company with a GBL2 category license may be to invest abroad, to produce products or services exclusively outside of Mauritius. GBL2 is exempt from taxes in Mauritius and cannot claim benefits under a double tax treaty.

Since January 2019, the global category 2 business license (GBC2) has been revoked, and companies previously licensed to use GBC2 will need to apply for permission to the Finance Commission as an authorized company to conduct international business. An authorized company will be required to file an income statement with the tax authority within six months after the end of the year. However, an Authorized Company will continue to be considered non-resident for tax purposes in Mauritius.

Category 2 Global Business License:

• Only non-residents of Mauritius can own.
• Not considered a tax resident.
• Has no right to do business in Mauritius.
• Not entitled to use double tax treaties.
• Does not pay income tax. Good for storing and managing private assets.
• Audit is not required.
• Must have a registered agent in Mauritius.

After reserving the company name in the Register of Companies and paying the fee, the following documents must be submitted to the Financial Services Commission:

• Detailed information about all principals (name and address, nationality, country of residence, business track record, photocopy of passport). In case the shareholder is a company, the audited financial report of the company and profile.
• A detailed business plan with 3-year financial forecasts for GBL1 and a brief business plan for GBL2.
• Letter of recommendation from the bank.
• Properly completed and signed questionnaires.
• Registration fee payment.

After reserving the company name in the Register of Companies and paying the fee, the following documents must be submitted to the Financial Services Commission:

• Detailed information about all principals (name and address, nationality, country of residence, business track record, photocopy of passport). In case the shareholder is a company, the audited financial report of the company and profile.
• A detailed business plan with 3-year financial forecasts for GBL1 and a brief business plan for GBL2.
• Letter of recommendation from the bank.
• Properly completed and signed questionnaires.
• Registration fee payment.

• Annual license fees - annual fees are paid to the Registrar of Companies and the Financial Services Commission.
• Annual Report - each company must submit its Annual Report together with the chart of accounts, which was approved at the annual general meeting, within 28 days after the meeting.
• Primary documents - each company must maintain primary documents sufficient to illustrate the company's operations and determine its financial position. Records must be kept for at least seven years.
• Financial reporting and auditing - GBL1 companies must prepare their financial statements in accordance with international accounting standards, keep them in their registered office and submit them to the FSC within 6 months after the end of the reporting year (or 3 months for those with certain types licenses for activities in the field of financial services) audited. GBL2 is required to maintain financial statements to reflect its financial position and keep it with a registered agent, but it is not required to do an audit.
• Audit - with the exception of GBL2 companies (and small private companies), all companies in Mauritius are required to have an auditor.
• Meetings of shareholders - an annual general meeting of its members should be held for both GBL1 and GBL2 companies.
• Registers - each company must maintain registers containing certain data about its members, its directors, its resident agent and its secretary, which should be stored in the registered office of the company.