MAURITIUS DOMESTIC COMPANY FORMATION
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
Minimum 1 shareholder – 100 % shareholding allowed by foreign corporate and individual shareholder. No requirement to be a Mauritian resident.
Minimum one individual director required who has to be an ordinary resident of Mauritius. We provide this service.
Must at all times have a registered office in Mauritius where all statutory and accounting records are kept. Local Registered address ( P.O. Box not allowed).
The Company Secretary assists the Chairperson in ensuring that Board procedures are followed and that the Company’s Constitution and relevant rules and regulations are complied with. The Company Secretary also assists the Chairperson and the Board in implementing and strengthening good governance practices and processes with a view to enhance long-term stakeholders’ value. We provide this service to all clients.
The usual steps are:
- Name approval
- Prepare registration documents
- Client to sign registration documents
- Register company with Registrar of Companies
- Post incorporation procedures ( opening bank accounts, etc)
Name approval takes only one day . Once the company name is approved and we have received the signed documents from you , we can normally register the Mauritian Company.
Usually the documentation to be submitted to the Registrar of Companies is:
- Application for incorporation of a company.
- Photocopy of National Identity Card for a citizen of Mauritius or Photocopy of Passport
- Public Utility Bill ( not more than three month’s old)
- Consent to act as Shareholder
- Consent to act as Director and Statement of Non-disqualification to Act as Director
- Consent to act as Secretary