MAURITIUS COMPANY FORMATION
“BTG Trust and Corporate Services Mauritius ('BTG Mauritius') has advised many clients on setting up offshore structures through careful consideration of their circumstances. They study the needs and requirements of their clients and offer advice and assistance in structuring and setting up the best suited corporate structures. Typical corporate structures we have advised on include Global Business Companies, Private Foundations, Trading Foundations, Trusts, Protected Cell Companies as well as Limited Partnerships.
If you have questions or would you’d like more information on the company set up options that suit your specific situation, you are welcome to contact me to schedule a complimentary call.”
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Candice
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Guest Writer - Candice Thompson
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GLOBAL BUSINESS LICENSE COMPANY (GBL)
A Global Business License Company is a resident corporation which proposes to conduct business principally outside of Mauritius and is licenced by the Financial Services Commission.
KEY FEATURES
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Resident in Mauritius for tax purposes
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Tax rate of 15% on sale of services and 3% on sale of
goods
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Eligible to the partial exemption regime under which
80% of certain income are exempted from income tax
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No Capital Gains Tax and No Withholding Tax on
payment of dividends, interests, or royalties
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Access to Double Taxation Avoidance Agreements
(DTAAs). Mauritius has concluded 46 DTAAs so far
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Must be administered by a Management Company
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Require two resident directors in Mauritius
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Require a local qualified Company Secretary
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Maintain its registered office and all statutory records in
Mauritius
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Maintain its main bank account in Mauritius
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Audited Accounts required
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Need to meet substance in Mauritius through the direct
and indirect employment of suitably qualified persons and incur a minimum level of expenditure in accordance with the level of activities
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May hold immovable property in Mauritius if approval is obtained from the Prime Minister’s Office
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Shareholder/expat employees can apply for Occupation Permit through the structure to live and work in Mauritius
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Suitable to use for:
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owning subsidiaries or operate branches in offshore
markets
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owning valuable intellectual property and license IPR
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Investment Funds that invest in portfolio of
investments
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Family Office that owns family businesses and
investments
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Trading and services activities, amongst others
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special licenses such as Collective Investment
Scheme, Payment intermediary Services, and Global Treasury Activities
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AUTHORISED COMPANY
An Authorised Company is a company registered in Mauritius whose business activity and control & management are outside of Mauritius.
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Treated as non-resident for tax purposes in Mauritius
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Maintain its registered office and all statutory records in
Mauritius
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Require a Registered Agent in Mauritius which shall be a
Management Company
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Audited Accounts not required
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Principal bank account does not need to be in Mauritius
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Meetings may be held anywhere in the world
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Need to file a Return of Income with the authority
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Can change the license to a Global Business License
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May not engage in reserved activities such as financial
services, banking, insurance, activity related to collective investment funds, provision of registered office/nominee/ directorship/secretarial/trusteeship services
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Should register for tax returns in country where control is based
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No Access to Double Taxation Avoidance Agreements
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PROTECTED CELL COMPANY
A PCC is a corporate structure in which a single legal entity is comprised of a core and several non- core cells, and the assets and liabilities of each non-core cell are legally protected from the failure of another non-core cell.
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KEY FEATURES
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Single legal entity which achieves cost efficiency
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Legal segregation and protection of assets and
liabilities for each cell
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No minimum capital requirements are imposed for
the PCC of the cells, except in the case of insurance/
funds licences
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Unlimited number of cells may be set up with each
cell having its own name or designation
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Provisions for the protection of creditors under the
PCC Act
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Allows for accommodation of leverage facilities
within the cell
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The cellular assets attributed to a cell will only be
affected by the liability of the company arising from transaction attributable to that cell
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Normally issues two classes of shares - shares to the Core which carry voting and control rights, and shares issued for each Cell which do not carry any rights as to voting and control
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Dividends are payable only by reference to the profits made by each individual Cell, the PCC is taxed as a single entity at core level whilst each cell is taxed individually
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May also pay dividends with respect to the shareholders of a specific cell by reference only to the assets and liabilities attributable to that cell
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Rights of shares of one cell may differ from rights of another cell
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Require an annual audit
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Suitable to use for:
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Asset Holding
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Structured finance businesses
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Insurance Business
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External Pension Schemes
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Collective Investment Schemes
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Specialised Collective Investment Schemes and
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Close-end funds
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FREEPORT COMPANY
A Freeport Company is a Mauritius Domestic company registered in Mauritius holding a Freeport License and operating in the Freeport Zone. The Mauritius Freeport is ranked 9th globally and is highly commended in Africa from FDi’s Global Freezones of the year Awards 2020
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KEY FEATURES
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Duty-Free and VAT free for goods and equipment imported into Freeport zones
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3% tax on export of goods
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Preferential market access
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100% foreign ownership
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Free repatriation of profits
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No foreign exchange control
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Reduced port handling charges
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Access to offshore banking facilities
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Must carry out the following activities:
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Warehousing and storage
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Breaking bulk, sorting, grading, cleaning and mixing
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Labelling, packing, re-packing and repackaging
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Minor processing and light assembly
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Ship building, repairs and maintenance of ships and
aircrafts
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Storage, maintenance and repairs of empty
containers
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Export-oriented seaport and airport-based activities
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Quality control and inspection
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Building, developing and managing by the enterprise
of its own infrastructural facilities, warehouses, cold storage, offices, exhibition centres, processing
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DOMESTIC COMPANY
A domestic company is a local company incorporated and governed in Mauritius whose activity can be conducted with residents of Mauritius as well as with non-residents of Mauritius. However, where the domestic company is controlled by a non-citizen of Mauritius and conducts its business principally outside Mauritius, a Global Business License is required.
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KEY FEATURES
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Resident in Mauritius for tax purposes
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Tax rate of 15% on sale of services and 3% on export
of goods
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Eligible to the partial exemption regime under which
80% of certain income are exempted from income tax
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No Capital Gains Tax and No Withholding Tax on
payment of dividends, interests, or royalties
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Access to Double Taxation Avoidance Agreements
(DTAAs)
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Require one Resident Director
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Maintain its Registered Office and all statutory records
in Mauritius
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Require a qualified Company Secretary if annual turnover
exceeds MUR 50 million (Approx. USD 1.2 million)
LIMITED PARTNERSHIP
A Limited Partnership combines the features of a company and a partnership and offers a flexible vehicle to carry out activities.
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KEY FEATURES
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Can be set up with or without legal personality
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Allows the Limited Partnership agreement to regulate
the terms of the partnership
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Requires at least one General Partner and one Limited
Partner
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General Partner is jointly and severally liable for all
debts and obligations of the partnership
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Limited Partner is liable only up to the maximum amount
of its commitment
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Can elect to be tax neutral, i.e. income would be taxed
in the hand of the partners
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Require a Registered Agent unless the General Partner
is resident or incorporated in Mauritius
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May require an auditor under specific conditions
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Access to the Double Taxation Avoidance Agreements
if qualified as a taxable entity in Mauritius
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May apply for a Global Business License or remain a
Domestic Company
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BUSINESS NETWORKING
Connect with like-minded business individuals at our energetic, uplifting networking events held free to members every month; in Black River, Grand Baie and Moka. These are great opportunities to promote your business and support fellow members, face to face. Effectively, these become your sales meetings, with your sales team. People do business with people; through networking we have the opportunity to demonstrate that we are knowledgeable, likeable and trustworthy business people.
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Platforms to connect you and your business:
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Personal referrals from fellow members help you to grow your business at network meetings
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An enhanced directory listing to promote your business online
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Discounted rates to additional adhoc network opportunities
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Use our Facebook group to further promote your business amongst our social community
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Surround yourself with a network of business friends who you can bounce ideas off and gain energy from
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Full membership offers business people in Mauritius the opportunity to connect with like-minded business owners at our casual but energetic network meetings as well as via our website. Visitors are welcome to come along; the first meeting is always free. Have a look at the events page to see when and where the next meetings will be.
+230 5846 8435