Authorised Company

An Authorised Company is an entity in which a person who is not a citizen of Mauritius holds the majority of shares, voting rights, or legal or beneficial interest. Additionally, the control and management of the company must be outside of Mauritius, and it should primarily conduct business outside of the country.

The Mauritius Revenue Authority issued a Statement of Practice which describes the facts and circumstances to consider in determining if the control & management of a company is in Mauritius. A company has its control & management in Mauritius if it is the place where:

• The strategic decisions on the company’s core activities are taken in or from; and
• Either a majority of the Board of Director’s meetings are held, or where the executive management of the company is regularly exercised.

An Authorised Company is considered a nonresident for tax purposes in Mauritius and cannot access the Double Tax Avoidance Agreements network. Foreign-sourced income of an Authorised Company falls outside the Mauritian tax system. Passive foreign income, such as dividends, interest, and royalties, is also not subject to tax in Mauritius. Dividend distribution made to a foreign shareholder is also outside the scope of Mauritius.

For an Authorised Company to operate in Mauritius, it must appoint a registered agent who will:

• File financial summaries with the FSC;
• File returns of income with the MRA;
• Keep records (board minutes and resolutions, transaction records and such other documents as required by the FSC);
• File any document required under relevant Acts;
• And combat money laundering and terrorist financing.

An Authorised Company is suitable for businesses engaged in international trading, invoicing, marketing, ship management, consultancy services, logistics, and asset holding.

Global Business Company

A Global Business Corporation is a licensed corporation by the Financial Services Commission, formed or registered in Mauritius, that primarily conducts business outside of Mauritius. If the company is controlled by non-citizens of Mauritius and its main activities are conducted outside of Mauritius, it must apply for a Global Business License. The license demonstrates substance in Mauritius and allows the entity to benefit from Mauritius’ Double Tax Treaties.

To become a Global Business Company, resident corporations must apply for a Global Business License through a licensed Management Company. As your Corporate Secretary, we can help you find the right Management Company to assist you with the incorporation process that fits your project and budget.

Global Business Company incorporation requirements

• Appointment of 1 shareholder
• Appointment of 2 qualified directors living in Mauritius
• Board Meetings to be held in Mauritius
• Main bank account & Physical office to be held in Mauritius
• Accounting records and statutory documents must be well kept
• Appoint a local Management Company like Mauritius Company Formation
• Audited Profit & Loss account and Balance Sheet to be submitted yearly
• Company clause to solve disputes by arbitration
• Shares registered on a securities exchange

Activity licences which a GBC can avail under other legislations

While a GBC is incorporated and operates under the laws of Mauritius, it can avail itself of activity licenses under other legislations. Activity licenses allow a GBC to engage in specific business activities, such as financial services or investment activities, and operate in other jurisdictions. Below, we have compiled some of the activity licenses that a GBC can obtain under other legislations, providing you with a comprehensive understanding of the options available when looking to expand your operations globally.

Domestic Company

A domestic company, also known as a local company, is an entity incorporated under the laws of Mauritius by the Registrar of Companies and governed by the Companies Act 2001, the Business Registration Act 2002 and the Income Tax Act 1995, amongst other legislations.
A domestic company is a ‘small private company’ where the turnover is less than MUR50 million and it is not a GBC1. The use of a domestic company is the best way to conduct business with Mauritian residents and is the preferred route to investing in Mauritius but it can also be used for various other purposes. The domestic company has the following features:

• 100% foreign ownership allowed
• No Minimum paid-up capital
• Company incorporation in 2 days
• Minimum 1 shareholder and 1 local director
• 15% tax rate on taxable income annually and certain type of income may benefit from a credit of 80% hence resulting in a taxation of only 3%
• No taxes on dividends
• No exchange control or restrictions on repatriation of profits

Mauritius company incorporation requirements