Incorporation of companies can either be effected online or by submitting the required documents at the office of the Registrar of Companies.
The Companies Act 2001 provides for several types and categories of companies:
A domestic company, also known as a local company, is an entity incorporated under the laws of Mauritius by the Registrar of Companies and governed by the Companies Act 2001, the Business Registration Act 2002, the Income Tax Act 1995, and the Value Added Tax Act, amongst other legislations.
A domestic company is used for conducting activities with Mauritius residents such as trading, consultancy services, investment holding, and acquisition of immovable property under the Property Development Scheme in Mauritius amongst others. A domestic company can also apply for a Freeport License for warehousing, transshipment and/or transformation of products in the Freeport Sector in Mauritius.
Features of a domestic company:
The rate of tax for a domestic company is 15% flat on its net profit.
A domestic company is not regulated by the Financial Services Commission unless it is operating in the financial services sector.
The Mauritius GBC can be set up with:
The Financial Services Commission also frequently requests additional evidence thahe company is managed from Mauritius, including a local corporate bank account.
The Mauritius GBC can trade can trade with locals after prior approval from the Mauritius FSP. It is also allowed to provide financial insurance seovided a license has been granted by the local authorities for such purpose.
The company pays tax in Mauritius over its global earnings at an attractive rate of 3% compared to 15% for other resident companies. A GBC is the right type of business entity for holding activities, as well as regulated services requiring license for instance financial services or insurance/re-insurance.
This Mauritiusa authorized company can be set up with
Setting up a Mauritius-authorized company requires a resident registered agent in charge of maintaining records.
A Mauritius-authorized company is not considered a resident company for tax purposes and consequently does not have to pay tax on net profits.
The Company must however file a return of its income with the Mauritius Revenue Authority.
The best uses of for a Mauritius Authorised company is to conduct international trade or as a holding vehicle when access to Double Taxation Avoidance Agreements (DTAAs) is not a requirement
Company limited by shares means a company formed on the principle of having the liability of its shareholders limited to any amount unpaid on the shares respectively held by the shareholder
Company limited by guarantee means a company formed on the principle of having the liability of its members limited by its constitution to such amount as the members may respectively undertake to contribute to the assets of the company in the event of its being wound up
Company limited by shares and by guarantee means a company formed on the principle of having the liability of its members (1) who are shareholders, limited to the amount unpaid, if any, (2) to those who have given a guarantee, limited to the amount they have undertaken to contribute.
The company where constitution limits its life to a period not exceeding 50 years from the date of its incorporation. However, this period may be extended to a maximum of 150 years. Its constitution contains the specific matters as laid down in the law.
A dormant company has no significant accounting transaction during a certain period. A significant accounting transaction excludes the payment of bank charges, licence fees, and any compliance costs. A company may declare itself to be dormant by passing a special resolution which it shall file with the Registrar 14 days from the date of resolution.
A foreign company, must within one month of establishing a place of business in Mauritius, register a branch of the foreign company in Mauritius.
