Business entity types & details

Companies limited by shares (public and private)

• Private limited company:
  These businesses are prevalent in Mauritius and need at least one shareholder and director. Shareholders are responsible for unpaid shares, as the public cannot purchase shares.
• Public limited company:
  These businesses can sell their shares to the general public. Their management must constitute a minimum of two shareholders and seven directors.

Branch office

Branch offices are extensions of giant parent firms in other countries operating in Mauritius. The parent company usually has its headquarters in another country and is responsible for all liabilities of its branch office.

Limited Partnership (LP)

This type of business consists of one or more limited partners who provide capital but have limited liability and one or more general partners who oversee the company and bear personal responsibility for its debts.

Limited Liability Partnership (LLP)

Partners in a Limited Liability Partnership have limited liability, just like shareholders do. LLPs must have a minimum of two partners, and the partnership must be registered.

Sole Proprietorship

A sole proprietorship is a simple business structure owned and operated by one individual. The owner assumes full responsibility for managing operations, earning profits, and covering liabilities or debts, making it a straightforward and cost-effective option.

Partnership

A partnership involves two or more individuals sharing ownership and management responsibilities. Partners combine resources and skills, share profits, and are jointly responsible for the business's obligations, offering a collaborative approach to running and growing a business.

Cost of registering a business in Mauritius

• Registration charges:
  The registration fees usually range from MUR 1,000 to MUR 10,000, depending on the business structure and the owner's citizenship.
• Name reservation cost:
  To reserve your business name in the registry, you may need to pay between MUR 100 and MUR 1,000. 
• Stamping and notarising costs:
  All documents must be notarised and stamped by the relevant government agencies, which may cost between MUR 100 and MUR 10,000.

Business Registration Requirements

1. Completed Business Registration Form
2. Copy of National Identity Card
3. Proof of residential address
4. Business Plan (for certain types of businesses)
5. Proposed company name and reservation certificate
6. Tax Account Number (TAN)
7. Bank reference letter or proof of capital
8. Payment of registration fees
9. Certificate of Incorporation (post-registration)
10. Trade License (if required by business activity)

Steps of Registering Your Business in Mauritius

Select a business format

Assess the market niches in Mauritius carefully. Then, choose the best business structure for your business plan, such as a sole proprietorship, partnership, private limited company, or branch of a foreign company. 

Reserve your business name

When naming your business, you might select an already-in-use name. To avoid legal issues, ensure your name is distinct, then reserve it at the Registrar of Companies.

Submit relevant documents

You will have to prepare and submit detailed registration and other documents about your company to the company's registrar. The business owner must also draft a memorandum and article of association detailing how the company will be structured and its intended operations. 

Apply for Licenses

Based on the nature of your company, you could require particular authorizations or licenses from the correct government agencies. Investigate and abide by any legal specifications.

Enrol for taxation

Ensure your company is registered for taxes with the Mauritius Revenue Authority (MRA) and obtain a Tax Identification Number (TIN).

Create a Bank Account

You can choose a bank in Mauritius and open an account in your company’s name to handle your financial transactions. 

Register your staff

Comply with labor and hiring laws. Register your personnel with the National Pension Fund (NPF) for social security purposes.

Commence your business

If all legal and regulatory criteria have been satisfied, you can formally open for business in Mauritius. However, to guarantee compliance, you must constantly complete annual returns and other legal requirements. 

Business Registration Requirements

1. Completed Company Registration Form
2. Certified copies of passport or identity documents of shareholders and directors
3. Proof of residential address for directors/shareholders
4. Minimum capital requirement (varies by company type)
5. Business Plan or Feasibility Study (if applicable)
6. Registered office address in Mauritius
7. Taxpayer Identification Number (TIN) for the company
8. Shareholder and director details (including nationality and contact information)
9. Mauritius Business Registration Card (for specific sectors)
10. Memorandum of Association
11. Articles of Association
12. Certificate of Incorporation
13. Payment of registration fees
14. Bank reference letter

Steps

• Determine your business format
  Determine the market niche you wish to enter, the resources needed, and the legal parameters. Based on your business plan, choose an ideal business form. Business forms in Mauritius include partnerships, liability companies, and branch offices.
• Name your business
  Check the registry records to confirm that your business name is usable. Reserve the name at the registration department so that another business doesn't claim it.
• Hire local directors
  The law dictates that foreigner-owned businesses must have one or more local directors.
• Open a bank account for your business.
  You can choose from various financial institutions in Mauritius to open a bank account for your business. The account will be used to manage financial transactions and records.
• Apply for legal permits
  Every business in Mauritius requires different permits and licenses depending on its industry. Ensure you apply for all the licenses from the Economic Development Board to run your business.
• Submit documentation and fees to the registry
  After you compile all the documents needed to register a company in Mauritius, relay them to the Registrar of Companies. Moreover, complete all the required payments and registration fees.
• Enroll with the tax authority.
  The Mauritius Revenue Authority (MRA) is in charge of taxation and issues a Tax Identification Number (TIN) to all registered companies.
• Adhere to Immigration Laws
  The immigration department must clear all foreign workers before they can work for your company. Register your company with the Ministry of Labour, Industrial Relations, and Employment as an employer if you intend to hire staff.

Annual filing requirements

1. Every business in Mauritius is obliged to submit annual reports and financial statements to the Mauritius Revenue Authority (MRA) and Registrar of Companies.
2. In Mauritius, businesses are required to have a licensed auditor audit their financial statements once a year.
3. Employers must file yearly labor report forms about pay, incentives, and tax deductions.
4. Trade permits and licenses must be renewed on a yearly or periodic basis.
5. Businesses are required to file statutory reports with the Financial Services Commission (FSC).

Key takeaways

The island nation Mauritius is an attractive investment hub for both locals and foreigners. The International Finance Centre is a government agency that strives to attract foreign investment by offering incentives.

You must formally register your business in Mauritius so the government can recognize it officially. If you meet all the requirements for registering a business in Mauritius, you can follow our step-by-step guide on how to go about it.

The procedure for registering companies in Mauritius is similar for foreigners and locals. Foreigners must, however, meet immigration requirements and fulfill capital requirements. You must meet all filing annual requirements to continue operating your business smoothly. 

Frequently Asked Questions

Does Mauritius offer any benefits to international investors?

Yes, Mauritius provides a range of inducements, such as tax breaks, duty waivers, and admission to preferential trade agreements, to entice foreign investment.

What do registered companies need to continue to comply with?

Annual filing requirements, tax duties, and other industry or regulatory-specific compliance obligations should all be complied with by registered enterprises. The registered company must submit filing tax returns, financial statements, annual returns, and company license renewals.

What limitations apply to foreign ownership in particular industries?

Particular industries in Mauritius, like broadcasting, property ownership, and some specialized service limits on foreign owners, require unique authorization. Investigating industry-specific laws is crucial.