Company formation in Mauritius
Mauritius, known as the Republic of Mauritius officially; an island country situated in the Indian Ocean. It consists of the main island, Agaléga, St. Brandon, and Rodrigues. Port Louis is the largest and capital city of Mauritius. This is the city where the majority of the Mauritius population is concentrated. The country spans 2,040 sq. km.
As per some sources, the island was discovered by Arab sailors for the first time in 975s. However, the earliest confirmed discovery of the island was by Portuguese sailors in 1507, who took a petite interest in the islands. In 1598, the Dutch took possession, established short-lived settlements succession for more than 120 years.
Owing to the country’s geographical location and centuries of colonialism, Mauritius people are highly diverse in faith, language, ethnicity, and culture. Even more, it is the only African country where the most commonly practised religion is Hinduism. The government of the island is closely modelled on the parliamentary system of Westminster. Most importantly, the country has achieved higher ranks for political and economic freedom and democracy.
Mauritius is also the only country in Africa to achieve a high rank in the Human Development Index category. As per World Bank, Mauritius has also been classified as a high-income economic country. Even more, it has also ranked as one of the most established and competitive economies in the region of Africa. Mauritius is a welfare state, where the government is providing basic facilities for free, including:
- Public transportation for senior citizens, students, and disabled people.
- Education to tertiary level
- Universal healthcare facilities
Also, Mauritius ranked as the most peaceful country in African Region in 2019 by the Global Peace Index. Along with that, Mauritius is also famous for its diverse flora and fauna. Various species are endemic to this island.
If you want Company Formation services in Mauritius, you can consult with Thallium Consulting. We will provide you with quality work.
Benefits of the offshore company set up Mauritius.
Mauritius is not only famous for its beaches, reefs, and lagoons. Also, it is a popular free-market economy. Due to its advanced infrastructure and easier offshore company formation in Mauritius, the country has rated high business milieu and economic competitiveness. It also has professional business governance.
Along with this, various other reasons are making people know how to set up an offshore company in Mauritius. Let’s get to know more about the common grounds of an offshore company set up in Mauritius below:
- The offshore company set up in Mauritius is convenient and easy. You can complete the process of offshore company formation in Mauritius within a week. You can complete the process with at least one director and one shareholder of any nationality. Both of these can be residents of elsewhere than Mauritius. Fortunately, the minimum paid-up capital in Mauritius is just USD 1.
- Investors can even complete offshore company formation in Mauritius without travelling to the island.
- Also, Mauritius is a tax-friendly country that comes up with lower corporate tax rates.
- Mauritius is a famous free-market economy. Therefore, it allows unlimited capital, dividends, and profits to transfer out to any other country from Mauritius.
- English is used as a business language here in Mauritius. Due to which the process of the offshore company set up in Mauritius becomes easier for you.
- Acquiring an employable workforce of highly experienced, skilled, and bilingual professionals.
- Mauritius is a stable country economically, politically, and socially. It also offers investment-friendly opportunities for people looking for how to set up an offshore company in Mauritius.
If you need all these benefits, you can get in touch with us at Thallium Consulting, and we will provide you with excellent results.
Corporate banking solutions for an offshore company set up in Mauritius
Even though Mauritius is a free market economy, but it is a small island. Therefore, it possesses a small banking system. Still, Mauritius has a well-capitalized and stable banking system. At the same time, the central bank and Bank of Mauritius have a repute to maintain Mauritius’ finance and banking sectors stability.
The Mauritius banking system is also a route to significant investment into mainland Africa and the Asian sub-continent.
Despite having a stable banking system, corporate bank accounts in Mauritius aren’t a high-quality and long-term option for multinational businesses. This is because of the ongoing reputation of Mauritius as a tax haven and doubts on the ability of the banking system in Mauritius to cope with the economic crisis. It’s mainly because the economy relies on tourism, international trade, and manufacturing which is vulnerable to crisis.
So, getting professional help in opening and managing a reliable corporate banking solution is what you should consider.
The renewal process of an offshore company set up in Mauritius.
Annual renewal of offshore company set up Mauritius is a must to keep working uninterrupted here. However, when it comes to the renewal process, almost all the jurisdictions come up with different requirements. While for the offshore company set up in Mauritius, any company incorporated in Mauritius has to be renewed in June. You don’t have to wait for the anniversary of incorporation to renew your offshore company set up in Mauritius.
To keep up with the renewal process of offshore company formation in Mauritius, you must get professional help. Professional advisors can send you an invoice if the renewal process of your company is due automatically. This will make it easier for you to manage the overall renewal process of an offshore company set up in Mauritius without any hassle.
Perks of an offshore company set up Mauritius as a tax haven.
Overall, Mauritius is a tax-friendly country. It offers a low corporate tax rate. At the same time, there is no tax on capital gain and income here. Mauritius also offers free repatriation of profits and capital. It doesn’t control or restrict foreign exchange and offers a sound banking system to make transactions in different currencies.
Offshore companies in Mauritius can benefit from the low corporate tax here on their global earnings as well. Dividends have also been exempted from withholding taxes on interest earned here.
All the businesses working for Marina development are also corporate tax exempt for up to 8 years. Along with this, a wide range of tax incentives is also available for offshore companies in Mauritius in different industries. If you want a professional company to work for you, hire Thallium Consulting right now for your company formation needs.
Please fill out this form!
And one of our Business Advisors will contact you shortly.