Mauritius-GBC-1 as an Offshore Company Tax Haven

Mauritius is an English speaking country in the Indian Ocean. It is a former British colony which became independent in 1968 and joined the Commonwealth. It is basically a parliamentary democracy in the British style.It established a modern presence as an Offshore Financial Center, with the passing of the Companies Act in 2001. This introduced a new form of Offshore Company aimed at non tax resident companies - Global Business Category 2 (GBC2).

This section deals with the GBC 1 Company. Unlike the GBC 2 Company, a GBC 1 is tax resident in Mauritius. It therefore has access to the many Double Taxation Treaties which Mauritius has signed with other countries. Though the Double Taxation Treaties, GBC1 companies can benefit from low tax rates and tax credits on business and investments in partner countries. Typical business and investment destinations involve India, China, Thailand, Singapore and around 30 other countries.

GBC1 is defined as a company engaged in qualified global business and which is carried on from within Mauritius with persons all of whom are resident outside Mauritius and where business is conducted in a currency other than the Mauritian Rupee. A GBC1 may be locally incorporated or may be registered as a branch of a foreign company. The business of a GBC1 Company must be conducted in foreign currency other than for day-to-day transactions; and GBC1 companies must not do business in Mauritius, other than to take professional advice, employ local labour, and to rent property.

A GBC1 Company is treated as resident, and has access to Mauritius' double tax treaties, subject to possession of a Tax Residency Certificate. They pay a relatively high annual registration fee. Annual accounts must be filed, but a GBC1 company is exempted from the need to file an annual return.GBC1 companies are suited to public financial operations such as fund management. By the end of 2008, 76% of all GBC1 companies were operating in the field of investment holding. Other activities of GBC1 companies included: Collectives Investment Schemes, Financial Business Activities, Trading, Consultancy, Closed-ended Funds, ICT and Intellectual Property.

Mauritius (Global Business Licence GBC 1) Offshore Companies and their Tax Liability

A GBC1 (old Offshore Company) pays corporate income tax at 15%.GBC1 Companies are also exempt from stamp duty, land transfer tax, and capital gains tax. The expatriate staff of offshore companies pay half the normal rate of personal income tax; two of them per company can import cars and household equipment free of customs duty.There are no withholding taxes or equivalent deductions on dividends or other payments made by GBC1 companies to non-resident shareholders (residents aren't normally allowed to hold the shares of such companies).

GBC1 Companies are regarded as being resident, and are therefore able to take advantage of Mauritian Double Tax Treaties. The tax treaty with India is particularly favourable, and Mauritius is a favoured location for holding companies for those trading with or investing in India. GBC1 Companies can also utilise the unilateral foreign tax credit which is 80% of the Mauritian tax rate ,leaving a residual liability of 20% of the Mauritian tax rate = 3%.

Mauritius (Global Business Licence GBC 1) Offshore Company Banking

Offshore Trade Services can incorporate Mauritius (Global Business Licence GBC 1) offshore companies with a choice of offshore bank accounts at the time of formation. We work closely with a number of offshore banks. Combining the two saves time and couldn't be simpler.

Mauritius (Global Business Licence GBC 1) Offshore Company Formation / Registration

Offshore Trade Services are able to incorporate a Mauritius (Global Business Licence GBC 1) offshore company. Company formation normally takes between 7 to 10 days to register a new company.

Mauritius (Global Business Licence GBC 1) Offshore Company Anonymity and Disclosure

Mauritius (Global Business Licence GBC 1) companies are required to disclose the names of directors and beneficial owners to the registration authorities, but this information is not available to the public. For complete anonymity, many of our clients request the use of nominee directors and shareholders. Whilst there is a requirement to prepare and file annual accounts, these are not publicly accessible.

Mauritius (Global Business Licence GBC 1) Offshore Company Shares

The Stated Capital comprises the total amount received and receivable by the company with respect to the issue of shares or calls therewith Mauritius (Global Business Licence GBC 1) companies may have registered shares, preference shares, redeemable shares and shares with or without voting rights.

Our Services - Offshore Company Formation, Nominee Director, Nominee Shareholder, Mail forwarding and Bank Accounts

Offshore Trade Services specialize in Mauritius (Global Business Licence GBC 1) company formations ranging from simple company registrations to complex structures including offshore Trusts and in providing a very comprehensive assortment of administrative services to Mauritius (Global Business Licence GBC 1) companies, including the provision of Nominee Director, Nominee Shareholder, Mail Forwarding and Bank Account services. We are also able to offer a 'transfer in' service whereby we can take over the management of your existing Mauritius (Global Business Licence GBC 1) Offshore Company, often for no cost at all.

Please read also about our Due Diligence Requirements.