MauritiusMAURITIUS BUSINESS SET UP SUMMARY
We assist global clients looking to do business in Mauritius with the A to Z of business setup without the need for the client to travel to Mauritius . Some of our services include:
The most common corporate structures preferred by foreign investors setting up in Mauritius include i) the limited liability company (LLC/LTD) and ii) the branch office. See detailed comparison below:
Advantages and disadvantages of Mauritius business setup:
- Mauritius offers efficient and flexible company incorporation procedures, allowing for quick registration.
- Mauritius offers a low corporate tax rate of 15%, with potential tax credits reducing the effective rate to 3%.
- Mauritius has an extensive network of double taxation avoidance agreements (DTAs) with over 40 countries.
- The jurisdiction offers a strong legal framework based on English and French law, ensuring investor protection.
- Companies can benefit from preferential market access to Africa, Asia, and Europe through various trade agreements.
- There are no exchange controls, allowing free repatriation of profits and capital.
- The country is known for its ease of doing business, consistently ranking high in global business indices.
- Foreign investors can benefit from 100% foreign ownership in companies without restrictions.
- High proficiency in English.
- Mauritius’ limited local market size can restrict business growth opportunities.
- Companies may face challenges with the relatively small pool of skilled labor, especially in specialized fields.
- Restriction in some lucrative sectors including aviation, insurance and telecommunications.
- The island’s remote location can lead to higher shipping and transportation costs for international trade.
- Compliance with evolving international tax regulations (e.g., OECD and EU standards) can increase administrative burdens.
- There are increasing international scrutiny and regulatory requirements due to the country’s status as a tax haven.
Important links:
Company incorporation steps in Mauritius:
- Name Reservation: Girimba Consulting reserves a unique company name through filling the requisite application document.
- Documents Preparation: Our Team prepares the incorporation documents and emails our Client for signatures and email return;
- Certificate of Incorporation: Our dedicated Team submits an application for company registration with the Companies and Business Registration Integrated System (CBRIS) office and obtain a certificate of incorporation;
- Personal Tax Number: If the director is a foreign national, our team submits an application for a personal tax number with the Mauritius Revenue Authority.
- Other Registrations: If the Client intends to hire local staff, our Team registers the company with i) PRGF (Portable Retirement Gratuity Fund) and ii) PAYE (Pay As You Earn) Scheme;
- VAT Registration: If our Client expects to make taxable income exceeding Rs6,000,000 (US$130,000) within the calendar year, our Tax Agent proceeds to register the company for VAT (Value Added Tax);
- Bank Account Opening: Girimba Consulting also assists our Client to open a local corporate bank account with a top tier bank in Mauritius.
Company/Branch registration in Mauritius
To register a company branch in Mauritius, a foreign company needs to follow a specific process involving the Registrar of Companies and the Financial Services Commission (FSC). This includes preparing necessary documents, applying for registration, and obtaining any required licenses, particularly for Global Business Companies (GBCs). A registered agent and a physical registered office address in Mauritius are also essential.
- Choose a Company Name: Secure the company name for your branch with the Registrar of Companies.
- Identify Key Personnel: Arrange for a local secretary, director, and registered office address in Mauritius, especially for Global Business Companies.
- Prepare Supporting Documents: Compile all necessary documents, including incorporation documents, in English, and potentially with certified translations.
- Submit Application: Complete the prescribed business application form and submit it through a registered agent to the Registrar of Companies.
- Obtain Business License (for GBCs): If establishing a Global Business Company, you need to apply for a business license from the Financial Services Commission.
- Pay Fees: Pay the required registration fees.
- Maintain Records: Keep and maintain financial records and accounting records at the registered office in Mauritius.
- Fulfill Legal Requirements: Comply with the Companies Act 2001 and the Financial Services Act 2007.
- File Annual Returns: Submit annual returns as required by law.
- Registered Agent and Office: The branch must have a registered agent and a physical registered office address within Mauritius.
- Director: The branch must have at least one director.
- Paid-up Share Capital: The branch should have at least one paid-up share.
- Form 1: Application for registration of a company.
- Form 7: Consent and certificate by a director.
- Form 9: Consent and certificate by a member (shareholder).
- Form 8: Required if the company will have a secretary.
- Other supporting documents as outlined in the Business Registration Act 2002.
Tax registration and obtaining pin in Mauritius
In Mauritius the TIN is officially called the Tax Account Number (TAN). For entities: As soon as they are created, the Mauritian entities (and individuals carrying out business activities) have an identification number, the Business Registration Number (BRN) issued by the Central Business Registration Department, a governmental authority. This number is used for several purposes, including for tax
purpose. As soon as they receive their BRN, the MRA allocates a TAN to the entities and individuals carrying out business activities. Entities and individuals carrying on a business are automatically issued an TAN once they obtain their BRN
Regulatory licences across all sectors in Mauritius
In Mauritius, regulatory licenses are required across various sectors to ensure business operations comply with laws and regulations. The Financial Services Commission (FSC) regulates the non-bank financial services sector and global business, including sectors like securities, insurance, private pension schemes, and virtual assets. Other sectors like tourism, trade, and the ICT sector also have specific licensing requirements.
The Financial Services Commission, Mauritius (FSC) is the regulator for the non-banking financial services and global business. It is mandated under the Financial Services Act 2007 to license, regulate, monitor and supervise the conduct of business activities in these sectors.
Personal and corporate bank account opening in Mauritius
Opening both personal and corporate bank accounts in Mauritius involves providing necessary documentation and adhering to the specific requirements of each bank. For personal accounts, you’ll typically need proof of identity, address, and possibly income verification. Corporate accounts require company registration documents, details of directors and shareholders, and potentially a business plan.
Required Documents:
Bank statements. Bank reference letter. Business proofs (e.g., sales/purchase orders, invoices, contracts) Certified copies of valid passports and recent address proofs (within 3 months) for all directors, shareholders, and account signatories.
Accounting and tax support sevices
Our Services include:
- Transactional tax support (e.g., M&A).
- Tax structuring in relation to domestic and cross-border transactions.
- Advice on transfer pricing legislation.
- Estate, wealth and succession tax planning.
- Application for income tax & VAT rulings.
- Country-by-country reporting.
- Advice in relation to OECD’s Base Erosion and Profit Shifting (“BEPS”) requirements.
- Tax due diligence.
- Personal tax advice on immigration and residency in Mauritius.
Provision of nominee directors and shareholders in Mauritius
Nominee Directors:
A minimum of one natural person director is required for GBCs and Authorized Companies.
Nominee directors can fulfill this requirement, and Eltoma can provide nominee directors.
Nominee directors act on behalf of the beneficial owner, but the beneficial owner maintains control through a power of attorney, says One IBC.
Nominee directors are typically appointed through a power of attorney and a declaration of trust.
Nominee Shareholders:
The use of nominee shareholders is permitted for both GBCs and Authorized Companies.
Nominee shareholders hold shares on behalf of the beneficial owner, according to First AML.
A declaration of trust is typically used to confirm the beneficial owner’s ownership of the shares.
Details of shareholders are not publicly disclosed, but beneficial owners must be disclosed for GBCs.
Nominee shareholding companies must be private entities and limit their activities to fulfilling their nominee role.
Recruitment and employee hiring in Mauritius
We manage every step of the recruitment process, from candidate search to selection and onboarding.
Hiring talented people enables an organization to achieve its strategic goals. Our headhunting model and recruitment strategies give our clients a unique advantage in finding the right candidates for their business.
Virtual / physical office solutions in Mauritius
Virtual Office Solutions in Mauritius:
Virtual office solutions in Mauritius provide businesses with a professional presence and essential services without the need for a physical office. These services include a business address, mail handling, virtual reception, and access to coworking spaces or meeting rooms,allowing businesses to operate remotely while maintaining a strong local presence.
Key Features of Virtual Office Solutions in Mauritius:
Professional Business Address:
Provides a prestigious address for your company, enhancing credibility and professionalism.
Mail Handling and Forwarding:
Ensures your mail is managed efficiently, whether you prefer to have it forwarded or collect it in person.
Virtual Reception:
Professional call answering and message taking services, ensuring your business’s reputation is maintained.
Access to Workspace:
May include access to coworking spaces, private offices, and meeting rooms for occasional needs.
Cost-Effectiveness:
Offers a more affordable alternative to traditional office rentals.
Compliance and Registration Support:
Some providers offer assistance with company registration and compliance matters.
Physical Office solutions:
Girimba has local agents in Mauritius that help our clients secure strategic physical offices according to their business type and model.
Employment and residency visas
In Mauritius, employment and residency are intertwined, often requiring a combination of permits. To work and reside in Mauritius, non-citizens generally need both a Residence Permit from the Passport and Immigration Office and a Work Permit from the Ministry of Labour. The Occupation Permit (OP) is a combined work and residence permit, available under Investor, Professional, and Self-Employed categories.
Girimba Consulting helps you obtain all the required accreditation with less effort.
Girimba Consulting conducts business with openness, transperancy and honesty.We respect and uphold our Clients’ confidentiality, we offer quality service at affordable rates. Contact us for professional solutions.
Clarence S. Carlos
Regional Cordinator
Clarence is our regional cordinator and head of business setup secretariat.