How To Start A Business In Mauritius – Mauritius is a small island off the east coast of Africa and how to start a business in Mauritius is not difficult. Although its worldwide reputation derives primarily from the pristine beaches that attract thousands of tourists, astute entrepreneurs know that it is one of the friendliest countries to start a business.
A pro-business environment, ease of opening a business account, and numerous tax benefits make Mauritius a haven for individuals looking to start a business.
How To Start A Business In Mauritius
Here you will find relevant information on how to start a business in Mauritius and the benefits of having a Mauritius legal entity.
Mauritius Business Network
There is no doubt that Mauritius is a potential goldmine for foreign investors and businesses due to its economic and global business competitiveness. According to a 2019 World Bank report, Mauritius is ranked 13th out of 190 countries in the world for ease of doing business (opens in a new tab). The World Bank clearly states that the country provides
For businesses to flourish. In fact, the island of Mauritius ranks first in Africa
And the political system has ensured that Mauritius remains a top choice for overseas investors looking for more space
And global competitiveness. I have written a blog post on reasons to invest in Mauritius, which will also give you some ideas.
Mauritius Peo & Employer Of Record
In addition to economic benefits, the country has a diverse workforce that includes people of European, African Indian, and Chinese ethnicity. Also, many of these individuals are fluent in English and French, making it easier for businesses to access European, North American and Asian markets.
Located in the perfect time zone (UTC + 04:00) (Opens in a new tab) which coincides with working hours around the world, Mauritius offers a highly skilled workforce. Also, workforce quality is enforced by the presence of international banks, law firms and accountants.
It makes it easier to do business with neighboring countries where French and English are more dominant.
One of Mauritius’ most unique features is its unique IPAA, Investment Promotion and Protection Agreement (opens in new window), which provides
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In recent years, pro-business laws have made the country a haven for foreigners who are taking Mauritius as a serious contender for one of the best countries to open their businesses. My post may also give you some ideas on what are the best things to do in Mauritius.
This is a popular form of company formation for sole proprietors. Under this business category, the individual is responsible for all debts and obligations.
For more than one person, this structure gives them the ability to share profits according to criteria defined in the business agreement. All the members share equally the debts and liabilities of the company.
This structure is similar to a general partnership business structure. Unlike a general partnership, the responsibilities and debt burden are divided among each member according to the amount of one’s capital investment.
Starting A Business Checklist
It is a suitable license or business structure for financial companies, hedge funds and financial managers. A GBC1 license (Global Business Class 1) is issued on the basis that the company is owned and operated by foreign persons residing outside the country. As per the business rules, the proprietors are required to carry out their business formalities and business transactions from Mauritius in a currency other than Mauritius Rupees. In some cases, the company may employ Mauritius residents and it may transact with them. Don’t miss this post on how to get a residence permit in Mauritius.
Must also maintain its offices in Mauritius and the company must at all times maintain its principal bank account in Mauritius. Mauritius Banks How To List 2021 talks about banks in Mauritius.
Generally, a license requires at least one shareholder and two business directors to complete the incorporation formalities.
Registering a company in Mauritius is an easy task; However, it is best to consult a business professional or legal advisor who can provide in-depth assistance on how you can get the maximum benefit from company formation in Mauritius.
Mauritius Research Council
As a first step, you need to choose a business structure for the company. While we have already defined the various types of business structures, it is a good idea to speak to an expert to consult on the CBRD (Corporate and Business Registration Department) (Opens in a new tab) website.
The next step is to register the business name. You can use an online tool (opens in a new tab) to search for a specific name for free. Apart from the name, anyone can also reserve a trademark, service name or collective trademark by paying a fee. These trademarks are valid for ten years from the date of registration.
After ten years, everyone must update the titles accordingly. If you haven’t decided on a business name, don’t worry because name reservation is not required or mandatory to incorporate and register a business.
Although you can use an online portal to start a business in Mauritius, it is practical to speak to a professional as changing the business structure or other business data may not be possible later.
Ease Of Doing Business Index
After registration, the individual will receive an electronic business registration card and certification of registration based on the type of registered company.
All new companies registered with the Registrar of Companies in Mauritius are automatically registered with the Revenue Authority (opens in new tab), Ministry of Social Integration (opens in new tab) and Social Security.
According to the Economic Development Board’s website (opens in a new tab), a company seal is not required for transactions with foreign companies. If the country or foreign person does not require a Mauritius business to provide an official company seal.
From my personal experience, MCB Bank is the best option (opens in new tab). European standard, good mobile app and 90% of Mauritians use this bank.
Modern, Elegant, Professional Service Web Design For A Company By 5sd Solutions
There are various commercial and corporate banks registered with the Bank of Mauritius (opens in a new tab).
It is also important to know that banks may reject your application form; So, make sure you are ready to provide the relevant documents. For a first-time entrepreneur, this may seem like a lot of paperwork but any business professional versed in Mauritius business deals can help you easily meet all the requirements without any major cost.
Although many individuals choose to register their legal entities online, it is more practical for foreign individuals to seek professional assistance as business consultants can help new businesses resolve key issues. Mauritius companies can also be managed by a third party company within Mauritius.
Act as an intermediary between the client and the government, enabling the client to process their documents and legal documents using the company as an agent.
Demographics Of Mauritius
Regardless of the way a company is formed, remember that managing and establishing a business is easier than you think.
User-friendly legislation, political stability and independent legislation ensure that foreign businesses and investors can operate their companies from Mauritius without the red tape and legal complexities found in other countries.
And several business parks at strategic locations across the country can help you get good office space at a reasonable price.
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Economy Of Mauritius
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Doing Business In Mauritius
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