When it comes to set up a foreign business in islands, Mauritius name appears in mind of many investors. The land offers safe and encouraging business environment. Since independence in 1968, the island is developing. In the 21st century the development rate has increased. From agriculture to industrial growth, all can be seen in Mauritius. The land welcomes all types of investors. Therefore, it offers to setup GBC1 and GBC2 companies. It is a land of opportunities to invest in various sectors including public, IT, engineering, manufacturing etc… Today, it is one of the most ideal islands for offshore businesses.
A GBC1 company is a resident company of Mauritius. It allows for structure investments into Mauritius treaty partners including India, China, Thailand and Luxembourg. The type of company doesn’t exempt from tax. It has to pay tax but the tax rate is low. There is no capital gain tax and withholding tax levied. Some certain rules are followed by GBC1 companies. They are monitored and regulated by the Mauritius Financial Services Commissions. A license is granted to these companies. An assurance of business establishment is given in just 1 month. According to the legislation of the island, A GBC1 firm has to appoint at least 2 local directors. The shareholder of the company should be 1 minimum and it is not necessary that the shareholder belongs to the island. A company secretary is required to appoint. The company audit takes place every year. It is must to maintain an account file. They have access for double taxation treaty. Offshore Incorporation
A company which is GBC2 has global business license and are free for trading. They are not residential companies therefore they cannot access to Mauritius tax treaty. They are free from corporate tax. Various types of company formation freedom are provided. According to the legislation of the island, it is must to appoint at least one director and it is not necessary that the director should belong to Mauritius. Appointing a company secretary is optional. There is no audit required. There is no exchange control. The government of the island has tried to make GBC2 company legislation easy to follow so that maximum number of investors can take interest in company formation in Mauritius. The government of Mauritius expects that every foreign investor performs well and can able to take the economy of Mauritius at higher level. Societe offshore incorporation setup in Mauritius is profitable.