Earlier I wrote a post called Offshore Bank Discrimination Against American – How I Fought Back. As the title implies, I got tired of the banking policies in Offshore Panama. So I ended up setting my offshore activities in Mauritius. The reader response has been so good that I decided to give you and overview of how the system in Mauritius works.
- Offshore company is set up for only US$ 2,000 with a renewal charge each year.
- Companies can be bought at the “incorporation stage” and will be issued with bearer shares.
- One person is enough to set up an offshore company in Mauritius. There is no requirement or obligation to the shareholder/director/authorized bank signatory to be present in Mauritius for setup or follow up.
- Forming an offshore company and opening a bank account can be done in 5 working days.
- Individual or corporate bank accounts can be opened in Mauritius-based banks. (This includes for Americans.) Banking services include credit and debit cards, and online banking. Banking charges for international transfers are reasonable and are subject to the client’s satisfaction. Mauritius supports major banking institutions, such as Panama or Belize, where Offshore clients can have their bank accounts opened.
- Offshore companies are tax exempt, secure and kept in discretion. In addition, Mauritius has not signed any Tax Information Exchange Agreements with the U.S. or Europe.
- Statutory filings are done annually by your representative, and no information is held in public or can be access through the Internet.
If you are having the same difficulties I had, I will be happy to share more about what I learned – for information purposes only. (I cannot and will not be your financial adviser.) Just email me at dennis.dean.smith @ gmail.com and we can go from there?