Mauritius' GBC/AC vs Seychelles' IBC

[Faiz R]

Mauritius' GBC are taxed at a rate of 0% to 3% depending on the business activity | Price to incorporate: from USD 10k to USD 15k for the 1st year and around USD 7k as from 2nd year

Mauritius' AC are taxed at a rate of 0% | Price to incorporate: from USD 5k to USD 8k for the 1st year and around USD 4k as from the 2nd year

Seychelles IBC are taxed at a rate of 0% | Price to incorporate: from USD 2k to USD 5k for the 1st year and around USD 2k as from the 2nd year

So basically Mauritius and Seychelles are very simillar in terms of Taxation:

• Income and corporate tax for Offshore entities at 0% (Seychelles) to a max of 3% (Mauritius)
• Tax-free dividends
• No capital gains tax

However, Mauritius is a more expensive jurisdiciton given it's network of DTAAs / IPPAs and the fact that it is more stable politically then the Seychelles. Unfortunatelly, due to international pressure Mauritius is becoming more and more transaprent as Seychelles provides a good level of confidentiality.

To conclude: to choose between Mauritius and Seychelles for the incorporation of an offshore structure needs to be done on a case to case basis depending on what you are looking for: a cheap and confidential solution or a costly and reputed solution.

 

[KDX]

Thanks for the post. The exchange of knowledge is what OCT is all about

Could you maybe tell us about the type of banking/EMI that these 2 jurisdictions and their various forms of companies can get access to? I'd imagine nowadays its quite hard to get banking for a Seychelles IBC but I guess you have quite a bit of experience so it would be good to know how the situation is

 

[CaptK]

AfriAsia, BankOne SBM and SBI are still ok for now. They do ask for a mountain of paperwork.

 

[Faiz R]

Thanks for the post. The exchange of knowledge is what OCT is all about

Could you maybe tell us about the type of banking/EMI that these 2 jurisdictions and their various forms of companies can get access to? I'd imagine nowadays its quite hard to get banking for a Seychelles IBC but I guess you have quite a bit of experience so it would be good to know how the situation is

Mauritius vs Seychelles in terms of banking/emi, Mauritius takes the win having a better banking platform with international banks and proactive services. Seychelles is very archaic in terms of banking services, everything takes time and needs a lot of documentation/KYC to transact. However, Mauritian banks accept to open bank account for Seychelles IBCs under the condition of going through an Eligible Introducer already approved by the bank.

 

[KDX]

Mauritius vs Seychelles in terms of banking/emi, Mauritius takes the win having a better banking platform with international banks and proactive services. Seychelles is very archaic in terms of banking services, everything takes time and needs a lot of documentation/KYC to transact. However, Mauritian banks accept to open bank account for Seychelles IBCs under the condition of going through an Eligible Introducer already approved by the bank.

And I assume you provide introduction services for these jurisdictions? Just so people here know what you can offer.

 

[JackAlabama]

Yes I do provide services in both jurisdiction from company creation to bank account opening, company listing, up to the outsourcing of administrative services. We also assist companies in obtaining specialised licenses in both jurisdictions such as Securities Dealer, Investment Fund, Banking...

What is the licensing need for having a DeFi company (own funds only)?

 

[Faiz R]

What is the licensing need for having a DeFi company (own funds only)?

You mean a crypto trading platform? If yes, you will need a Securities Dealer License where the business activities needs to indicate crypto/token

 

[JackAlabama]

You mean a crypto trading platform? If yes, you will need a Securities Dealer License where the business activities needs to indicate crypto/token

If I want to take on 3d party funds then yes, it makes sense.

What if I just do DeFi with my own company funds and get income that way? Is it possible to get banking in Mauritius without having a securities dealer license?

 

[Faiz R]

If I want to take on 3d party funds then yes, it makes sense.

What if I just do DeFi with my own company funds and get income that way? Is it possible to get banking in Mauritius without having a securities dealer license?

Yes then it is possible to do it in both jurisdiction, but I would advise to do it in the Seychelles as they are more easy going with regards to defi rather then in Mauritius, keeping in mind that the bank accounts will remain in Mauritius

 

[JohnLocke]

OP has a hidden agenda and already got one warning!

Thread closed.