Offshore entity in Mauritius for Setting up of Company

Offshore entity in Mauritius for Setting up of Company, GBC (Global Business Company) in Mauritius

Mauritius GBC might be a setup having following

• Minimum US $1 capital.
• Two directors, with both being general Mauritius residents.
• One shareholder

Additional evidence is requested by Financial Services Commission services of the company being managed from Mauritius. It includes opening up corporate local bank account.

Mauritius GBC similar to Seychelles CSL company is free to trade with locals, but only after getting prior approval from FSP in Mauritius. The company may also engage in insurance and financial services, provided the local authorities grant a license for such purpose.

Mauritius GBC is taken into account as resident entity, requiring to pay tax over global earnings in Mauritius, but at 3 percent rates when compared to 15 percent to be paid by other resident companies. These schemes do allow the firm to:

• Benefit by withholding tax exemption upon interest and dividends remitted from any of the 44 countries that signed with Mauritius, an agreement to avoid double taxation.
• Not requiring to pay up corporate taxes in other countries

Derive benefits from reduced corporate income tax in Mauritius. Following requirements are to be met by Mauritius GBC companies:

• Investment holding firms (excluding IP) with US $12,000 minimum local expenses.
• Non-investment holding firms with US $15,000 minimum local expenses along with minimum one staff member present in Mauritius (for entities having annual turnover over US $100 million), the minimum requirement is 2).
• Asset management firms with US $30,000 minimum local expenses & minimum one staff member at Mauritius (for entities with US $100 to 500 million annual turnover requiring minimum 2).

Best uses for GBC in Mauritius: The GBC is considered to be the most appropriate business entity type to hold activities including regulated services that mandates having a license. For example, re-insurance/insurance or financial services.

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Originally posted 2021-09-29 11:06:14.