Mauritius is becoming a popular place for people to set up businesses. The incorporation of companies and trusts in Mauritius is simple and offers many benefits. With a stable economy, friendly tax laws, and a solid legal system, Mauritius is a great choice for starting a company or creating a trust.
In this article, we will explain the process of setting up a company or trust in Mauritius and why it is an attractive option for business owners and investors.
Why Choose Mauritius for Business Setup?
Mauritius is located between Africa and Asia, making it an ideal place for international trade. The country uses both French civil law and English common law. This gives businesses flexibility and protection.
Mauritius also has a low corporate tax rate, and it has tax agreements with over 40 countries. These factors make incorporation of companies and trusts in Mauritius an excellent option for people who want to expand their business or protect their assets efficiently.
How to Incorporate a Company in Mauritius?
Starting a company in Mauritius is straightforward. Here are the main steps:
- Pick a Company Type: The most common types are Private Company Limited by Shares (LTD) and Global Business Company (GBC). Choose the type that best fits your business goals.
- Choose a Company Name: Make sure the name is unique and meets local rules.
- Prepare the Documents: You will need documents like the company’s articles of association, ID proof of directors and shareholders, and details of the company’s address.
- Submit the Application: Once everything is ready, submit it to the Companies Registry. After approval, your company is officially formed.
- Open a Bank Account: To run the business smoothly, you will need a corporate bank account.
This process is quick and can often be completed within a few days. Mauritius is known for its fast and easy company registration.
What are Trusts in Mauritius?
A trust in Mauritius is a legal arrangement where someone (called the settlor) gives control of their assets to a trustee. The trustee then manages the assets for the benefit of the beneficiaries.
Trusts are commonly used for things like protecting assets, planning estates, and managing wealth. Mauritius allows different types of trusts, such as discretionary trusts and charitable trusts. This makes it easy to choose the right type for your needs.
Benefits of Incorporating Companies and Trusts in Mauritius
There are many reasons why people choose to set up companies and trusts in Mauritius:
- Asset Protection: Trusts help protect your assets from legal claims.
- Tax Savings: Mauritius offers low taxes and has agreements to prevent paying taxes twice.
- Privacy: The legal system in Mauritius ensures confidentiality for owners and beneficiaries.
- Easy Process: Setting up a company or trust is simple, and the government has made it even easier to do business.
Conclusion
The incorporation of companies and trusts in Mauritius is easy and offers many benefits. With a solid legal system, low taxes, and an open business environment, Mauritius is a top choice for starting a business or creating a trust.
Whether you want to start a new company, grow your business internationally, or protect your wealth, Mauritius provides the right setting. It’s a great place to build a strong foundation for your business and secure your financial future.