There are several options for Mauritius offshore company formation. The most important starting point is for us to understand your business, to see what purpose you have for the Mauritius offshore company formation, and then to make sure it is executed offering you the fiscal and tax advantages of Mauritius, whilst ensuring that it is a legitimate and lawful model.
Types of Offshore Companies in Mauritius
How do the different types of offshore companies in Mauritius work? Since the start of 2019, the old GBC 1 and 2 are no longer available and there remain 3 different companies in Mauritius. Those GBC 1 and 2s that existed before 16th October 2017 will be grandfathered for some time yet, but one must look carefully at the new options as they are not identical. Of the two existing offshore companies in Mauritius, there is now only one Global Business Licence, similar to the old GBC 1, but with different substance requirements and different tax consequences. The other Mauritius offshore company is the authorised company. This is not resident in Mauritius for tax purposes, and therefore cannot utilize many of the benefits of using Mauritius such as the Double Taxation Treaties and the IPPAs.
Still available as before is the Mauritian domestic company. Quick to set up, cheap to run, but not appropriate for how most people use Mauritius for their business. Key considerations of which companies in Mauritius to use are where it will be managed from, where the clients are, and the purpose of Mauritius in the structure. For the GBC, there will need to be two resident directors in Mauritius, for a domestic company one resident director, and for an authorised company, there should be no resident directors in Mauritius. If it is Mauritius offshore company formation that you want, we can assist.
Mauritius Offshore Company Formation Timeframes
Mauritius offshore company formation takes between a few days to 6 weeks depending on what is set up. A domestic company takes a few days and a Global Business Company takes 4-6 weeks including the setting up of an offshore bank account which is usually what slows things down. If you require a special licence such as an Investment Adviser Licence or a Payment Intermediary Service Licences, then this can take several months.
Mauritius Offshore Company Formation Documentation
You should expect that with all Mauritius offshore company formation, the documentary requirements for KYC on directors and shareholders is thorough. The Mauritius offshore company Business Plan will also need enough detail to reassure the FSC and the banks, that the operations of the company will be legitimate, and that the Mauritius offshore company formation will not be used for illegal means.
Mauritius Offshore Company Formation Process
As you will require local directors for a company based in Mauritius, you will not need to be in Mauritius during a Mauritius offshore company formation or offshore bank accounts.
The first year is always the most expensive year for offshore companies in Mauritius with the second year onwards being reduced.
Always bear in mind that there are many administrative tasks not automatically included in management companies’ fees and so make sure you understand fully the financial price of the Mauritius offshore sector before setting something up.
There is a large variety of Management Companies in Mauritius, some with more global links, others specialised on locations or specific types of licences, it is wise to do a lot of homework before setting up an offshore company in Mauritius.
Frequently Asked Questions
How do I start an offshore company in Mauritius?
To start an offshore company in Mauritius, work with a trusted management company specialising in company formation. They will guide you through the process, which typically includes submitting Know Your Customer documents, selecting the company type, and developing a comprehensive business plan to fulfill regulatory requirements. We work with the best management companies in Mauritius, allowing us to introduce you to a reliable partner.
How much does it cost to set up a company in Mauritius?
The cost of setting up a company in Mauritius varies based on the chosen company type. Registering a domestic company is cost-effective and can be done online. In contrast, establishing Global Business Companies or Authorised Companies involve additional expenses such as setup fees, management fees, and licensing fees as these companies are regulated by the FSC. Go to this page for the exact ranges of the costs for setting up a company in Mauritius.
How do I register a foreign company in Mauritius?
To register a foreign company in Mauritius, work with an experienced management company with expertise in offshore registrations. Although physical presence is not required, adherence to Know Your Customer procedures and local regulations is mandatory. You will also need local directors and a registered office, which the management company can provide. Contact us to get in touch with a reputed management company in Mauritius.
How long does it take to open a company in Mauritius?
The time-frame to open a company in Mauritius can vary. Domestic companies can be established quickly, usually within a few days. Global Business Companies may take around 4-6 weeks, including the setup of an offshore bank account. However, if your business requires special licenses, the process may extend for several months.
How many offshore companies are there in Mauritius?
There are over 20,000 offshore companies in Mauritius. The exact number of offshore companies in Mauritius can fluctuate over time. For current statistics, refer to the Financial Services Commission (FSC) or consult reputable management companies.
How do I open an offshore bank account in Mauritius?
To open an offshore bank account in Mauritius, it is advisable to work with a management company experienced in facilitating such accounts. They will assist with Know Your Customer documentation and ensure compliance with banking regulations, simplifying the process. For a personal bank account, it is possible to do this without the assistance of a management company.
Why Choose TBI Mauritius?
If you are interested in Mauritius offshore company formation, TBI Mauritius offers you an unparalleled quality of service to build a strong foundation for your business in Mauritius. We put our clients first and ensure that all the business procedures and legalities are carefully met in a well-organised and professional manner.