There are two offshore regimes which are both regulated by the Mauritius Offshore Business Activities Authority (MOBAA):
The legal framework governing offshore companies is the Companies Act 1984 and the MOBA Act 1992. An offshore company may either be locally incorporated or registered as a branch of a foreign company. Properly structured offshore companies may obtain certificates of fiscal residence gaining access to the network of tax treaties.
Each new application for an offshore company has to be submitted to the technical committee of MOBBA. If the application is in order, a new company will be incorporated and granted an Offshore Certificate in approximately 10 days. The following conditions apply to offshore companies:
The International Companies Act 1994 provides for the incorporation of international companies. which can benefit from the tax exemptions offered by Mauritius, but do not have access to the benefits of any tax treaty with any other jurisdiction.
The authorised capital can be denominated in any currency other than the Mauritius Rupee. Provided the authorised capital does not exceed US$100,000 the annual license fee is only US$100. There must be at least one shareholder, one director and a company secretary. They may be natural persons or corporations and need not be residents of Mauritius. The identity of the beneficial owner is not disclosed to the authorities. Board meetings can be held anywhere in the world and it is not necessary to file accounts and annual returns.
An international company provides a flexible, user friendly vehicle with minimal administrative burden. Ready-made companies are available, or a new company can be incorporated within 48 hours.