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Mauritius: A Distinguished Global Business Destination
Global Business Corporation (GBC) | Mauritius Authorised Company (MAC) | Mauritius Foundations | Funds in Mauritius | Investment Dealers and Payment Intermediary Services | Partner Services for Investment Dealers and PSPs | Mauritius Trusts
Global Business Corporation (GBC)
GBC companies, established under the Mauritius Companies Act 2001, are recognized as tax residents and benefit from various double taxation treaties upon obtaining a Tax Residence Certificate from the Mauritius Revenue Authority.
Substance Requirements:
1. At least two resident directors.
2. Principal bank account in Mauritius.
3. Financial records kept at registered office.
4. Statutory financial statements prepared and audited in Mauritius.
5. Director meetings must include at least two Mauritian directors.
6. Core activities must be conducted within Mauritius, employing qualified personnel and incurring necessary expenditures.
7. Managed and controlled from Mauritius.
Tax Advantages:
• Partial Exemption Regime: 80% exemption on certain incomes (e.g., foreign dividends, interest income).
• Global Trading: Reduced income tax rate of 3% for exports.
• Double Taxation Treaties: Agreements with 44 countries.
Mauritius Authorised Company (MAC)
MACs are designed for entities that primarily operate outside Mauritius.
Typical Uses:
• Holding investments, managing property, e-commerce, intellectual property management.
Taxation Framework: Considered non-residents for tax purposes but must submit annual returns.
Mauritius Foundations
A legal entity for managing assets without members, governed by the Mauritius Foundations Act 2012.
Benefits:
• Long-term wealth management.
• Asset preservation across generations.
• Minimization of tax burdens.
Steps to Establish:
1. Complete application form.
2. Submit KYC documentation.
3. Draft and register the Foundation Charter.
Tax Considerations: Foundations managed outside Mauritius are exempt from foreign income tax if conditions are met.
Funds in Mauritius
Funds must be licensed by the Financial Services Commission (FSC) and hold a GBC license.
Benefits:
• Favorable regulatory environment with low taxation and extensive double taxation treaties.
• No withholding tax on branch profits or capital gains.
Types of Investment Funds:
1. Collective Investment Schemes (CIS): Targeted at diversified portfolios.
◦ Subcategories: Professional CIS, Expert Fund, Domestic Retail Fund, Global Schemes.
2. Closed-End Funds (CEF): Soliciting investments in unissued securities.
Investment Dealers and Payment Intermediary Services
Investment Dealers: Licensed under the Securities Act 2005.
Requirements:
1. At least two resident directors.
2. Principal bank account in Mauritius.
3. Local accounting and auditing.
4. Core activities conducted in Mauritius.
Payment Intermediary Services (PIS): For businesses acting as Payment Service Providers.
Licensing Requirements:
• Minimum capital of MUR 2,000,000.
• Detailed business plan and KYC documentation.
Partner Services for Investment Dealers and PSPs
Our partners assist with:
• Occupation Permit applications.
• Document preparation and authority liaison.
• Property development introductions.
• Company setup and administration.
Mauritius Trusts
A legal arrangement where a Settlor transfers asset ownership to Trustees for the benefit of beneficiaries.
Why Consider a Trust?
• Long-term asset protection and wealth management across generations.
Steps to Establish:
1. Complete Trust Application Form.
2. Provide KYC documents.
3. Execute Trust Deed and transfer initial trust fund.
Key Features:
• Choice of governing law.
• Anti-forced heirship rules.
• Confidentiality of Settlor and beneficiaries.
Taxation: Trusts with management outside Mauritius are not taxed on foreign income under specific conditions.
Summary:
Mauritius offers a robust framework for GBCs, MACs, foundations, funds, investment dealers, and payment intermediaries, along with various residency options. With a supportive regulatory environment and professional services, it remains an attractive destination for investment and asset protection.
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