Capital: Port Louis
Population: 1,211,000 (est.
Languages: English/French (official),
Area: 2,030 sq. km (land area)
Currency: Mauritian rupee (MUR)
Fiscal year: 1 July - 30 June
Independence status: 12/03/1968
THE REPUBLIC OF MAURITIUS is a sub-tropical volcanic island situated
in the Indian Ocean, approximately 2,400 kilometers off the Sourth
East Coast of Africa and covers an area of 1,865 sq. kilometres.
Its main territoiries are the main islands of Maruritius, Rodriguez
Islands, The Carajos Shoals and the Agalega Islands. Mauritius
gained its independence from Britain in 1968 and remains part
of the Commonwealth of Nations. The island is socially and politically
The President is the Head of State and Commander in Chief. The
Parliament is the legislative authority in Maruritius and is headed
by the Prime Minister who is also the Head of the Government.
Mauritius is one of the few countries with a hybrid legal system
based on English and French law. The procedural law both in criminal
and civil litigation is mainly English whilst the substantial
law is mainly based on the French Napoleonic code. The Company
Law is modeled on the English Law.
The monetary unit is the Mauritian Rupee (MUR) which is divided
into 100 cents. The Rupee flucuates in its exchange and it stands
at approximately USD1 to MUR19.72
The Financial Services Development Act 2001 requires that all
information and documentation received by the Financial Services
Commission and the Registry be kept secret and confidential and
imposes a fine and imprisionment for failure to comply with this
rule. Records of Global Business License Companies ("GBC2")
are NOT available to the public.
Global Business License Company ("GBC2"), ex-International
Company, is a company not carrying businesses with residents in
Mauritius nor carrying on restricted businesses in Mauritius,
is often used for trading and investment and are not resident
for tax purposes and do not benefit from Double taxation treaties
between Mauritius and other nations. All companies in Mauritius,
whether resident or nonresident, are taxed only on their net profits
earned in Mauritius. There are no capital gains taxes, and stocks
and bonds in publicly traded companies and private companies can
be sold tax-free.
Companies Act 2001 has made numbers of administration of the company.
GBC2 is not subject to Mauritius taxes. Companies holding a Category
2 Global Business License are required to maintain financial statements
to reflect their financial position with the Registered Agent but
are not required to file accounts with the authorities.
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