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Mauritius, officially the Republic of Mauritius, is an island nation in the Indian Ocean about 2,000 km of the southeast coast of the African continent. The country includes the islands of Mauritius and Rodrigues and the outer islands. The area of the Mauritius is 2,040 km2, having the capital at Port Louis which is the largest city.
Since independence in 1968, Mauritius has developed from a low income, agriculturally based economy to a middle-income diversified economy with growing industrial, financial, and tourism sectors. For most of the period, annual growth has been of the order of 5% to 6%.
The government’s development strategy focused on foreign investment. Thus, Mauritius has attracted more than 15,000 offshore entities, directed at commerce in South Africa and India, investments in the banking sector have reached over 1 billion US Dollars.
Mauritius is one of the few countries with a hybrid legal system based on English and French law.
Mauritius companies are resident in Mauritius and consequently subject to tax. However, they benefit from both tax credits and a longstop tax rate of 3%. Correctly structured and managed Mauritius companies may access Mauritius’ network of 37 tax treaties. Neither capital gains nor withholding taxes are levied.
|Type of company||Global Business Company|
|Corporate Legislation||Companies Act 2001 and licensed under the Financial Services Act 2007|
|Taxation||Corporation Tax – 15%, 3% under certain conditions.|
|Tax on Dividends – 0%, No capital gains taxation, no withholding taxes on the payment of dividends, interest or royalties.|
|Currency||Standard Currency US$ The share capital can be denominated in any currency, except MURs.|
|Paid up capital requirement||US$1|
|Time zone||GMT +4|
|Minimum no. required||2|
|Local Director required||Yes, minimum two|
|Location of Meetings||Anywhere, but include at least 2 directors from Mauritius|
|Minimum no. required||1|
|Location of Meetings||Mauritius, personal or through proxy voting|
|Local Secretary required||Yes, local and licensed|
|Registered office required||Yes, local registered address|
|Standard Authorized Capital||1,000,000 USD|
|Minimum paid up capital||The minimum capital requirement for a Mauritius company is US$1|
|Preparation of accounts||Required (can be completed by Consil Formation)|
|Requirement for audit||Required (can be completed by Consil Formation)|
|Accounts public accessible||No|
|Requirement to file Annual Return||Company must file its audited accounts with the Financial Services Commission every year, within six months of the financial year end. No annual returns need to be filed. (can be completed by Consil Formation)|
|Need to travel||No|
|Apostille||Yes, Hague Convention 1961|
|Owners||Individuals or Corporate|