Mauritius, located in the Indian Ocean approximately 1,200 miles from the southeast coast of the African continent, is a democratic republic and has a population in excess of one million. Mauritius has, at different times prior to independence, been colonised by the English and French, and as such its legal system is a hybrid of both English and French law. The Mauritius government has made a substantial commitment to the development of the financial services sector.
The Companies Act 2001, replaced both the Companies Act 1984 and the International Companies Act 1994, allows for two categories of companies, the GBL2 and GBL1.
The Category 2 Global Business Licence (GBL2) is similar in structure to an International Business Company (IBC). It is not subject to taxation in Mauritius except for an annual government fee which is payable to the Financial Services Commission (FSC) on each 1 July and an annual registration fee which is payable to the Registrar of Companies (ROC) on 20 January every year.
The Category 1 Global Business Licence (GBL1) may be used to access the extensive and growing network of international tax treaties which the Mauritius Government is continually developing. GBL1 companies are subject to taxation at a rate of 0-3% as a Tax Incentive Company. However, companies can structure their affairs to take advantage of a series of tax credits which may significantly reduce the effective rate of taxation, or may elect to pay at a higher rate to satisfy controlled foreign company legislation in the country of residence of the parent company.
- Official Language: English
- Legal System: Common Law
- Currency: Mauritius Dollars
- Time Zone: UTC +4/li>
