Domestic Company

A domestic company, also known as a local company, is an entity incorporated under the laws of Mauritius by the Registrar of Companies and governed by the Companies Act 2001, the Business Registration Act 2002 and the Income Tax Act 1995, amongst other legislations.

A domestic company is a ‘small private company’ where the turnover is less than MUR50 million. The use of a domestic company is the best way to conduct business with Mauritian residents and is the preferred route to investing in Mauritius but it can also be used for various other purposes.

At a glance

Shares and Shareholders

par value shares may be stated in more than one currency;
fractional shares are allowed;
bearer shares are not allowed;
shares may be subscribed by nominees;
shareholders may be individual or corporate;
may acquire, redeem, reissue or purchase its own shares.

Regulatory Requirements

minimum of one director who should be resident in Mauritius;
accounting records and statutory documents including register of members, share register and company records must be kept in Mauritius;
must have a qualified company secretary, resident in Mauritius;
board meetings must be held and chaired in Mauritius;
only an Annual financial summary is required if turnover is less than MUR 50 million;
must submit audited accounts when turnover exceeds MUR 50M;
lodge an annual return within 28 days of the date of the annual general meeting of the company;
auditor must be local.

Taxation

a domestic company is liable to Mauritian income tax at the rate of 15%;
Tax Residency Certificate (TRC) allows the company to claim double taxation relief under the various treaties signed by Mauritius.

Mobility

a domestic company may transfer its seat to another jurisdiction;
a domestic Company may be converted to a Global Business Category 1 (GBC1) or 2 Company (GBC2).

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Domestic Company

At a glance

Shares and Shareholders

Regulatory Requirements

Taxation

Mobility

Services

Products

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