There are several options for offshore companies in Mauritius. 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 offshore companies work in Mauritius? 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 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. Please see the blog for further information on the different companies in Mauritius. 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 offshore companies in Mauritius that you want, we can assist.
Mauritius offshore company setup timeframes
Mauritius offshore company formation takes between a few day and 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 setups, the documentary requirements for KYC on directors and shareholders to be 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.
Items to consider with Mauritius offshore Company setups
As you will require local directors for a company based in Mauritius, you will not need to attend Mauritius to set up offshore companies or offshore bank accounts.
The first year is always the most expensive year for Mauritius offshore companies 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, 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.
If you want to set up your offshore company in Mauritius, 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.