Company Formation in Mauritius: The Definitive Guide for NRIs, Indian Entrepreneurs & Global Investors
Last updated: June 2025 | Blueberry – Kerala's Premier Global Trade & Financial Services Facilitator
Why Mauritius for Company Formation?
Mauritius has emerged as Africa's and the Indian Ocean's premier international financial centre. For Indian and NRI investors, it occupies a unique position: a DTAA partner with India since 1983, a FATF-compliant jurisdiction, and a gateway to both African and Asian markets. The island nation consistently ranks in the top tier of the World Bank's Ease of Doing Business index for Sub-Saharan Africa.
Key advantages include a 15% flat corporate tax rate, no capital gains tax, no withholding tax on dividends paid to non-residents, and a legal system rooted in English common law — familiar and enforceable for Indian businesses.
Types of Companies in Mauritius
Global Business Company (GBC)
The GBC is the primary vehicle for NRIs and international investors. Licensed by the Financial Services Commission (FSC), a GBC conducts business primarily outside Mauritius and is the entity that accesses DTAA benefits with India. It requires at least two resident directors and a registered office in Mauritius.
Domestic Company
For businesses operating within Mauritius. Less relevant for NRI/cross-border structuring but useful for those with genuine Mauritius operations.
Authorised Company
A lighter-touch structure for holding assets or conducting limited activities. Does not access DTAA benefits.
DTAA Benefits with India
The India-Mauritius DTAA (Double Taxation Avoidance Agreement) is one of the most significant bilateral tax treaties in the world. Under the treaty, a Mauritius GBC investing in India benefits from:
- Reduced withholding tax on dividends: 5-15% (vs standard 20%)
- Reduced withholding tax on interest: 7.5%
- Reduced withholding tax on royalties: 15%
- Capital gains exemption on shares (subject to grandfathering provisions post-2017 amendments)
Important: Post-2017 DTAA amendments introduced source-based taxation for capital gains on shares acquired after April 1, 2017. Our advisors will structure your holding to maximise treaty benefits within current law.
Tax Structure & Savings
| Tax Type | Mauritius GBC | India (Comparable) |
|---|---|---|
| Corporate Income Tax | 15% (flat) | 22-30% |
| Capital Gains Tax | Nil | 10-20% |
| Dividend Withholding Tax | Nil (to non-residents) | 20% |
| Inheritance / Estate Tax | Nil | Nil (but succession issues) |
| VAT | 15% (on local supplies) | 18% GST (avg) |
Step-by-Step Formation Process
- Engagement & KYC: Submit passport, proof of address, source of funds declaration, and business plan.
- Name Reservation: Reserve company name with the Registrar of Companies, Mauritius (1-2 days).
- Constitution Drafting: Prepare Memorandum & Articles of Association tailored to your business objectives.
- FSC Licence Application: Apply for GBC licence with the Financial Services Commission (7-10 days).
- Incorporation: File with ROC; receive Certificate of Incorporation.
- Registered Office & Directors: Appoint resident directors and establish registered office.
- Bank Account Opening: Introduction to AfrAsia Bank, SBM, or MCB for corporate account.
- Post-Incorporation Compliance: UBO registration, AML policy, annual return setup.
Costs & Timeline
Standard GBC formation with Blueberry: ₹49,999 (all-inclusive for Year 1). Timeline: 10-15 business days from complete KYC submission. Annual renewal (registered office, resident director, FSC licence): quoted separately based on structure.
Compliance & Ongoing Requirements
- Annual return filing with ROC Mauritius
- FSC annual licence renewal
- Audited financial statements (for GBC)
- UBO (Ultimate Beneficial Owner) register maintenance
- Economic substance requirements (if applicable)
- FEMA/RBI reporting for Indian residents making outbound investments
Banking in Mauritius
Mauritius has a sophisticated banking sector. Key banks for GBC accounts include AfrAsia Bank (preferred for NRI/India-linked structures), SBM Bank, and MCB (Mauritius Commercial Bank). Account opening typically takes 4-6 weeks and requires full KYC, business plan, and source of funds documentation.
Mauritius vs Other Offshore Jurisdictions
See our Offshore Company Formation Comparison Chart for a detailed side-by-side analysis of Mauritius, Singapore, UAE (DIFC/ADGM), BVI, and Cayman Islands.
Frequently Asked Questions
- Can I form a Mauritius company entirely online?
- Yes. Blueberry manages the entire process remotely. Documents require notarisation/apostille but no physical travel to Mauritius is needed.
- Is a Mauritius company suitable for holding Indian real estate?
- Generally no — FEMA regulations restrict foreign entities from holding Indian residential property. Consult our advisors for compliant structures.
- What is the minimum share capital?
- There is no statutory minimum share capital for a GBC in Mauritius. Typically USD 1 is sufficient for most structures.
- How does Mauritius compare to Singapore for NRIs?
- Both are excellent. Mauritius has a stronger DTAA position with India and lower setup costs. Singapore offers better banking access and a larger ecosystem. Our advisors will recommend based on your specific use case.
Ready to Form Your Mauritius Company?
Blueberry's expert team handles everything — from KYC to bank account opening — with full compliance. Start your Mauritius company formation today →
Or use our Mauritius Tax Savings Calculator to estimate your savings.