Mauritius

Geographic location:
Indian Ocean
Population:
1,230,602
Native Language:
English
Currency:
Mauritian Rupee
Political Status:
Parliamentary Democracy
Legal System:
Hybrid system based on French and British laws

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OFFSHORE COMPANY - MAURITIUS
Mauritius is an English speaking, multi-cultural Island in the Indian Ocean. A former British Colony which became independent in 1968 and joined the Commonwealth. Since it passed the Company’s Act in 2001, Mauritius has been a fast-growing offshore financial centre enjoying a stable political atmosphere and benefiting from a government keen to develop the financial sector of the economy. The Island has attracted many foreign investors, especially in the banking sector. The telecommunications network is good. The access to the Island is easy and the transportation system by routes within Mauritius is excellent.

Global Business Company, Category 2
The Mauritius form of offshore company is the Global Business Company (GBC) category 2 which is similar to the British Virgin Islands IBC. Minimal and flexible statutory requirements and low government fees make this corporate vehicle very attractive and inexpensive. A Mauritius GBC2 is exempt from tax and from exchange control. A GBC2 cannot benefit from the double tax treaties signed by Mauritius with numerous countries, however the company can be upgraded to a GBC Category 1 if so desired. A GBC2 must be owned by a person who does not reside on the Island. An GBC2 is not permitted to carry on business either with residents in Mauritius or in Mauritian rupees. This corporate vehicle is not allowed to hold either real estate within Mauritius or any other interest in any other companies than Offshore Companies. An GBC2 is suitable for shipping activities provided that these activities are carried out outside Mauritius. Shipping activities are restricted to the registering of ships under the Mauritius Flag. There are only few restrictions on the type of business and trade carried on by an GBC2 such as banking, gaming, insurance and reinsurance business. The migration of the International Company out of Mauritius to another jurisdiction is possible.