Mauritius is a part of paradise in the Indian Ocean, bringing not only tourists from all over the world but also businessmen. Company registration in Mauritius offers comfortable conditions for starting and running a business, friendly legislation, various programs to support small and medium-sized businesses, attractive taxation, and much more.
Benefits of registering a company in Mauritius
Mauritius as a jurisdiction for business registration has many advantages, the main of which are the following:
Mauritius is a good investment destination
The economy of Mauritius is at a fairly high level, which is why it gives investors and entrepreneurs the opportunity to develop in various industries. The banking sector is well-developed in Mauritius, and many investors opt for it, which subsequently allows them to receive a stable income from capital investments.
The good reputation of Mauritius
Despite attractive taxation, the country currently complies with at least 35 of the 40 requirements of the FATF (Financial Action Task Force), which is confirmed by the Report adopted by the Eastern and Southern Africa Anti-Money Laundering Group in September 2019. The report highlighted the progress made by Mauritius in improving corporate and tax laws and strengthening measures to combat money laundering and terrorist financing. On October 31, 2019, a document from the Mauritius Financial Services Commission was published, confirming almost full compliance of Mauritius with the FATF Recommendations.
Low tax rates
Despite the fact that Mauritius cannot be called a classic offshore, (since companies are taxed, and there are many treaties to avoid double taxation), tax rates are extremely low, and the system of incentives and deductions allows you to further reduce the tax rate.
Simple company registration procedure
Like many island states, Mauritius does not impose strict requirements for the procedure for setting up and running a business, and therefore registering a company in Mauritius is quick and easy.
Loyal reporting requirements
For small businesses, there are simplified reporting rules. So, if a certain threshold in the company’s annual turnover is not reached, the company will be exempted from some types of reports. Moreover, an audit for small businesses is also not required.
The main organizational and legal forms of companies in Mauritius
The Mauritius Companies Law in Part 3 contains provisions that the registration of a company in Mauritius can be made in the form of:
Company Limited by Shares
Shareholders are liable for the obligations of the company only to the extent of their contribution to the share capital.
Company Limited by Guarantee
The members of the company pay a fixed amount of the guarantee, within the limits of which they are responsible for the obligations of the company.
Company Limited by both Shares and Guarantee
The company has both share capital and a fixed amount of the guarantee, within which the shareholders (participants) are responsible for the obligations of the company.
The liability of shareholders (participants) is not limited to the amount of the contributed authorized capital or the amount of the guarantee.
Each company of the above types can be private (limitation on the circulation of shares and the number of shareholders/participants – maximum 50) or public.
Company registration procedure in Mauritius
Company registration in Mauritius is extremely simple and does not take much time. To register a business in Mauritius, a standard package of identification documents for the founders and members of the company is required, which can be clarified with our specialists, as well as the following information:
- 2-3 names of the future company in order of priority;
- structure of the future company (who is the director, shareholder, beneficiary);
- type of activity of the future company.
After receiving all the necessary documents and information, the registration of the company in Mauritius will begin. The whole process from obtaining the necessary documents for registration to preparing the final package of corporate documents for a ready-made company includes the following stages:
- Checking company names and choosing an acceptable one. Name verification takes about 1 hour.
- Preparation of forms, power of attorney, and other documents for submission to the Business Registration Department – The Corporate and Business Registration Department is a government agency that is under the authority of the Ministry of Finance and Economic Development of Mauritius and oversees the registration of the company.
- Company registration procedure. The registration period is about 7-10 working days from the moment all the necessary forms, documents, and information are submitted to the Register.
- Preparation of statutory documents for a registered company and production of a seal (if necessary).
- Certification and apostille of documents, if necessary. The certification process takes 1-2 days, and the apostille takes about 1-7 days.