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Worldwide Business Centre Limited (WBC) is a Mauritian management company licensed by the Mauritian Financial Service Commission (FSC) to provide Mauritius Offshore Companies. WBC was established with the aim of providing company incorporation and/or management services for Mauritian offshore companies such as Mauritius GBC 1, Mauritius GBC 2, Mauritius Re-domiciliation, Mauritius Global Funds, Mauritius Protected Cell companies and Mauritius Trusts. We also provide you with services such as assistance to open your Mauritius offshore company bank accounts, provision of your Mauritius offshore Company Secretary and Company director (nominee services) and assistance in gaining a residence permit in Mauritius. We are part of the VA Group of companies and through our sister company Ramanah & Associates, a well established Accountancy firm, we can aid you with all Accountancy and Bookkeeping matters including outsourcing services.

We believe in high standards of business ethics with complete commitment to quality and we take great pride from the respect that we have earned from our clients. Since the start our focus has been to exceed client expectations and we focus on the individual needs of each of our clients. Our team members are highly qualified and dedicated professionals, accomplished in their respective areas of expertise.

Mauritius offshore companies

Worldwide Business Centre Limited offers quick and easy formation of Mauritius offshore GBC 1 (Mauritius Global business category 1) and Mauritius offshore GBC 2 (Mauritius Global business category 2). We can also form Mauritius offshore Trusts and Mauritius Protected Cell Companies. Worldwide Business Centre Limited also specializes in Mauritius offshore financial services and opening of Mauritius Bank Accounts in addition to providing nominee secretary and director services.

Mauritius GBC 1 takes on average 2-3 weeks to incorporate. A Mauritius GBC 1 is governed by the Companies Act 2001 and regulated by the Mauritius Financial Services Commission. A GBC 1 can elect to be qualified as a tax "resident" in Mauritius and thus benefit from the Double Taxation Agreement (DTA) Network where Mauritius is a member. This offers significant opportunities for international tax planning and a GBC 1 has no minimum capital requirement. The company can be established to carry out any global business activity as set out in the second schedule of the FSD Act 2001. A GBC1 is often set up to structure investments and projects with Mauritian double tax avoidance treaty partners such as India and China. The Mauritius offshore Global Business Category 1 is very commonly used for investment in India due to the favorable tax treaty that exists between Mauritius and India.

Key Features

• The GBC 1 may be a public or private company.
• It may be limited by shares, unlimited or a limited life company.
• Mauritian tax on offshore profits is 15% but with planning can be reduced to 3% - with the use of the tax credit system through the extensive DTA network.
• The company requires a minimum of 2 directors, 1 must be local (resident) but for the company to be considered resident and maximize tax benefits the company will need 2 resident directors, no corporate directors are allowed for a GBC1.
• The company requires a minimum of 1 shareholder, the shareholder does not have to be resident and can be corporate.
• Shareholders and Directors can be nominees.
• A local resident secretary and a local registered office are required.
• Only registered shares are allowed, bearer shares are not allowed.
• Shares can be held on behalf of the beneficial owners.
• Annual audited accounts must be filed with the FSC.
• Meetings must be held in Mauritius.
• The beneficial owner must be disclosed to the authorities but there is no publicly accessible records kept about the beneficial owner, the directors, shareholders or company annual return.
• Interest paid on bank deposits are tax exempt. Dividends paid by a GBC1 are tax exempt and royalties paid to non-residents are tax exempt.
• A GBC 1 is allowed to employ expatriate staff.

Mauritius GBC2 takes on average 2 days to incorporate. A GBC 2 is better for holding and managing private assets as it provides better confidentiality by structuring the shareholding through nominee shareholders, the beneficial owner only needs to be disclosed to the local agent and the bank (if a Mauritius bank account is required). The GBC 2 is non-resident for tax purposes and therefore is a tax exempt entity and cannot avail itself of the relief under the DTAs in force in Mauritius. A GBC 2 is restricted in the business it can carry out and is not allowed to conduct the businesses of company formation, administration, management nor can it provide professional nominee or trusteeship services. It cannot conduct business in Mauritius or in Mauritian Rupees.

Key Features

• No Mauritian tax on foreign income and no Mauritian stamp duty on the transfer of shares.
• There is no withholding tax on dividends and no capital gains tax.
• A GBC 2 can be incorporated with one director and one shareholder, the director and shareholder can be a body corporate and do not need to be resident,
• There is no publicly accessible record of the shareholders, directors or the beneficial owners.
• There is no requirement to appoint an auditor or company secretary.
• Shareholders or directors meetings may be held anywhere in the world.
• The GBC 2 must have a resident agent (Offshore Management Company) and a local registered office – both of these are provided to you by WBC.
• There is no minimum capital requirement, but one share must be issued and paid up.
• Can have registered shares, preference shares, redeemable shares and shares with or with out voting rights. Par value shares may be stated in more than one currency, fractional shares are allowed, bearer shares are not allowed. A GBC 2 can acquire, redeem, reissue or purchase its own shares.
• No requirement is made to file annual accounts and accounts are not publicly accessible, the company needs to maintain financial statements to reflect its financial position to the registered agent.
  Mauritius offshore global business category 2 companies are similar to BVI or Belize IBCs where there are no taxes on any income generated.
• GBC 2 companies are not allowed to work with Mauritian people or businesses with limited exceptions e.g. using a Mauritian bank.

Worldwide Business Centre Limited can help you with opening Bank Accounts in Mauritius hence helping you to deal with Mauritius Banking. Mauritius companies now have a very attractive Mauritius laws on Mauritius business strengthening, Mauritius Investment and Mauritius Finance.

Mauritius Trust

A Trust company is most commonly set up as part of a long term wealth management strategy, helping to preserve wealth through the generations without the problems usually created by taxation, probate requirements, succession laws, expropriation and foreign exchange controls. All Mauritian Trusts are governed by the Trust Act 2001.     A Trust allows the holding and administration of property under which property or legal rights are vested by the owner of the property (the Settlor) in a person or persons (the Trustees). The Trustees then hold the property for or on behalf of those the trust benefits (the Beneficiaries). It is the obligation of the Trustees to meet the terms of the Trust.     A Mauritian Trust can be established without the disclosure of the Beneficiaries or Settlor details to the authorities, no register of trusts is maintained in Mauritius. The deliberations of the Trustees also remain private. A trust is liable to income tax at the rate of 15%, however with the use of foreign tax credits (through the Double Taxation Agreement Network) this can be reduced or even made tax-exempt. Any tax-resident trust needs at least one trustee resident in Mauritius, must have a bank account maintained in Mauritius that all cash is routed needs to keep accountancy records with the local trustee.     The trust must be created in writing stating its objective, subjective, intentions, duties and the powers of the Trustees. The proper law of the trust will be the one chosen by the Settlor or the one implied in the trust deed.

Mauritius Global Funds

The sole business of a Mauritius Global Fund is the collective investment of funds in a portfolio of securities so as to spread the risk of the investment, the holder of the securities must be able to gain from the results of the investment minus any commission or fees due.     Global Fund (Investment Fund) companies in Mauritius are usually established as GBC1 companies and are then regulated in their function as an investment business by the 2005 Securities Act.  The FSC must give approval for the company to be licensed as an investment company, for this approval to be given the central administration of the company must be based in Mauritius. The company must have a local administrator, a local independent custodian and a local auditor. The accounts must be kept and accounting documents available in Mauritius, the principle office must be kept in Mauritius, the issue and redemption of shares must be carried out in Mauritius and the NAV calculation must also be carried out in Mauritius.  Additionally, the FSC must satisfy itself of the funds structure and objectives, the track record and credentials of the promoters, the investors and markets targeted, types of investment the fund will be dealing in, the track record of the investment manager, independent custodian and the administrator.

Captive Insurance Business

Established as a risk management technique, Captive insurance companies are companies established with the sole purpose of insuring the risk emanating from their parent group.     A Captive Insurance company must be a Category 1 Global Business License company (GBC1) licensed by the Financial services commission. A license is then required to conduct the captive business, The captive insurance company will need to appoint a licensed management company and a representative accountable to the commission. WBC can arrange all of this for you. To gain the license the FSC will need to see audited financial statements, a certificate of margin of solvency, a certificate of liquidity ratio, an actuarial valuation of adequacy of premiums and loss reserves for long term business, a declaration from the principle representative as to the accuracy of accounts. The incorporation procedure requires an application to the commission and a certificate from a law practitioner in Mauritius to say that the company complies with the laws of Mauritius.

The Protected Cell Company (PCC)

Mauritius approved the Protected Cell Company Act 1999 (amended 2000) and came into force in January 2000.     The PCC allows companies with a Category 1 Global business License to create ‘cells’ for the purpose of segregating and protecting assets. The principle legal characteristic is that the portion of capital designated to a specific cell is neither liable for the general obligations, commitments or liabilities of the corporation nor for the specific liabilities of the other cells. This allows additional opportunities, flexibility and security for international investment structuring especially for an entity with various investment portfolios where each has its own investment strategy and risk profile.     Ordinary shares are issued to control the core, these include voting shares. Cellular shares are issued relating to individual cells, these shares have no voting rights, The connection between the named cellular shares and cells to which they are related is set out in the Memorandum and Articles of Association of the PCC. The PCC will have a board of directors.     Separate accounting must be conducted for each cell.     Worldwide Business Centre can discuss the benefits of a Protected Cell Company for your individual requirements, set up the structure for you and deal with all ongoing statutory requirements.

Mauritius Redomiciliation Company

A Company incorporated under the laws of any country other than Mauritius, may, where it is so authorized by law of that country, apply to the Registrar to be registered as, and continue as, a company in Mauritius as if it had been incorporated in Mauritius.  

Other Specialist Structures

Investment Dealer License  (Full Service Dealer, Broker, Discount Broker), Investment Adviser License (Unrestricted and Restricted), Representative of Investment Dealer, Representative of Investment Adviser,  Investment Dealer (Commodity Derivatives Segment) (New) and Investment Dealer (Currency Derivatives Segment) (New).