Domestic Companies Mauritius

Domestic Companies

A domestic company, also known as a local company, is an entity incorporated under the laws of Mauritius by the Registrar of Companies and governed by the Companies Act 2001, the Business Registration Act 2002 and the Income Tax Act 1995, amongst other legislations.

A domestic company is a ‘small private company’ where the turnover is less than MUR50 million and it is not a GBC1. The use of a domestic company is the best way to conduct business with Mauritian residents and is the preferred route to investing in Mauritius but it can also be used for various other purposes.

General Description
Type and nature Private or Public company

Limited by shares
Limited by guarantee or Limited by both shares & guarantee
Residency Resident in Mauritius for tax and non-tax purposes
Permitted Activities Trading, Consultancy services & investment holding amongst others

May hold immovable property such as the Integrated Resort Scheme (IRS)
Restrictions on activities Business can be conducted with local and non-local residents of Mauritius but cannot deal with global business companies of both categories, unless the GBC is authorised by the FSC
Small private company Domestic companies whose turnover is less than MUR 50 million
Constitution Optional; if none adopted, company will be governed by the Companies Act 2001
Meetings Anywhere for directors' and shareholders' meetings
Records Publicly accessible
Relocation May transfer its seat to another jurisdiction
Income Tax 15% corporate income tax; no entitlement to automatic remission of deemed foreign taxes paid
CSR A Corporate Social Responsibility (CSR) tax of 2% on chargeable income
Global business May be converted to a category one or category two global business company
Double taxation treaty Access to double taxation treaties benefits

 

Statutory Requirements
Director At least one resident director required
Shareholder Minimum 1 shareholder - individual or corporate - need not be resident in Mauritius.

May be limited by share, by guarantee, both by shares and guarantee. It may be an unlimited company, a foreign company, a limited life company, a one-person or a small private company.
Stated Capital At least 1 share, denominated in MUR.

No minimum stated capital requirement
Currency Stated capital in MUR – can be set up with 1 ordinary share or MUR 1
Registered Office Must at all times have a registered office in Mauritius where all statutory and accounting records are kept
Company Secretary Other than a small private company, local companies must at all times have a qualified company secretary, who is resident in Mauritius, can be either an individual or a corporate body
Bank Account May have bank accounts in any currency
Board meetings Must be held and chaired in Mauritius
Filing of accounts Annual financial summary if turnover is less than MUR 20 million

Audited FS if turnover exceeds MUR 20 million - prepared by a local auditor
Annual return Annual return to be filed within 28 days of annual general meeting.

A small private company which has an annual turnover not exceeding MUR 20 million shall not be required to file an annual return, unless there is a change in its shareholding or in the composition of the board of directors or any other particulars in relation thereto
Filing with MRA/Taxation Annual tax declaration to the Mauritius Revenue Authority (MRA).

Quarterly tax declaration 'Advance Payment System' (APS) submissions for companies with an annual turnover exceeding MUR 6 million.
VAT registration Compulsory where the turnover exceeds MUR 2 million
Mobility May transfer its seat in another jurisdiction

May be converted into a GBC1 or GBC2, subject to FSC approval

About Us

Founded in 2010 and licensed by the FSC Mauritius, GFin Corporate Services Ltd., a Mauritius management company, provides legal, tax, fiduciary, investment and fund administration services to private, corporate and institutional clients. We provide administration, corporate secretarial, accounting and management services to Mauritius-formed entities.

We deliver tailor-made solutions to our privileged clients whether they are an entrepreneur or an established international group.

Find us

GFin Corporate Services Mauritius

Contact Us

GFin

GFin Corporate Services Ltd.

A : Level 6, GFin Tower, 42 Hotel Street, Cybercity, Ebene 72201, Mauritius.

Email us here

T : +230 404 39 00
F : +230 454 68 24