INTRODUCTION
Mauritius is situated in the Indian Ocean approximately 800 km off the East Coast of Madagascar. The island, which is of volcanic origin, covers an area of 1,800 sq. km. The population of the Island is approximately 1,200,000 made up principally by people of European, African, Indian and Chinese origin. The British ruled Mauritius for 158 years until 12th March 1968, when it became an independent country within the Commonwealth. Mauritius is one of the few countries with a hybrid legal system based on English and French law. Mauritius has developed from a low income, agriculturally based economy to a middle-income diversified economy with growing industrial, financial, and tourist sectors.

Global Business Companies - Category 1
GBC1 Companies, which were previously known as "Offshore Companies", are formed under the Companies Act 2001 and now regulated by the Companies Act 2001. The GBC 1 Company is treated as tax resident in Mauritius and may thereby access the taxation treaties signed with Belgium, Botswana, China, Cyprus, France, Germany, India, Indonesia, Italy, Kuwait, Lesotho, Luxembourg, Madagascar, Malaysia, Mozambique, Namibia, Nepal, Oman, Pakistan, Russia, Singapore, South Africa, Sri Lanka, Swaziland, Sweden, Thailand, U.K, Zimbabwe. By using a Mauritius GBC1 Company, profits can be withdrawn from that country either without the imposition of withholding tax or subject to a substantially reduced rate of withholding tax.

LANGUAGE
The official and spoken language is English but "Creole" is widely spoken in the island.

TYPE OF LAW
Common Law for corporate matters, based on English Common Law with local modifications and local statutes.

COMPANY INFORMATION

TYPE OF COMPANY FOR INTERNATIONAL TRADE AND INVESTMENT
Global Business Company Category 1 (GBC 1)

TIME TO INCORPORATE
Four Days, but allow 3 weeks for receipt of documentation.

RESTRICTIONS ON NAME AND ACTIVITY
The following words cannot be used in English or any other language: Authority, Bank, Chamber of Commerce, Chartered, Cooperative, Fund, Government, Insurance, Investment or Management Services, Mauritius, Municipal, National, Regional, Presidential, Republic or State. Names should end with Limited or Corporation.

CLASSES OF SHARES PERMITTED
Registered shares, preference shares, redeemable shares and shares with or without voting rights.

DISCLOSURE OF BENEFICIAL OWNERSHIP TO AUTHORITIES
Yes.
LICENCE FEES
US$1,500 to the Mauritius Financial Services Commission (FSC).
US$200 to the Mauritius Registrar of Companies.

FINANCIAL STATEMENT REQUIREMENTS
GBC1 companies are required to prepare audited financial statements, which must be filed with the FSC.