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Incorporation of a company in Mauritius. Authorised Company – offshore company. Service offer

In Mauritius until recently, two categories of companies could be incorporated: GBC1 (resident) and GBC2 (offshore). Under the Finance (Miscellaneous Provisions) Act 2018, these categories of companies were replaced by Global Business Company and Authorised Company respectively.

An Authorised Company under the general rule conducts business outside Mauritius. According to the local legislation there are restrictions imposed on activities of such companies,

Contents

  1. Mauritius: Authorised Company – main services*

namely such company shall NOT:

  • conduct business with residents of Mauritius;
  • conduct business in the currency of Mauritius;
  • hold immovable property or any interest in immovable property located in Mauritius;
  • hold shares, bonds or other stakes in any local or other company incorporated in Mauritius, except for a Business Company;
  • have a resident of Mauritius among the beneficial owners of its shares;
  • receive funds from an unlimited number of persons;
  • conduct business as a bank, insurance or reinsurance company;
  • provide other companies with a registered address or provide nominee or trustee services;
  • conduct business as a professional participant when managing collective investment schemes;
  • provide professional trustee services;
  • conduct any business that the Financial Services Commission may deem as negatively affecting the good repute of Mauritius as a financial service center or as contradicting public interests.

An Authorised Company also may NOT provide financial services or apply a double taxation treaty. Such company’s profit is not taxable. However an Authorised Company must withhold a 15% PAYE tax when paying the remuneration to its directors or in case of other similar payments to nonresident directors despite the fact that it is considered exempt for tax purposes.

The Financial Services Act now provides that a company that proposes to conduct or conducts business mainly outside Mauritius or with the category of persons stipulated by the Rules of the Financial Services Commission, has its place of effective management outside Mauritius and has a majority of its shares / beneficial interests / stakes (except for a bank licensed by the Bank of Mauritius) held or controlled by a non-citizen of Mauritius must obtain a permission of the Financial Services Commission. A permission application shall be submitted through the managing company.

Registers of directors and shareholders in Mauritius are not available to the public. Unlike a Global Business Company, an Authorised Company is NOT obliged to appoint local directors. An Authorised Company must appoint at least 1 director and 1 shareholder. The residency of those persons does not matter, and they may be individuals or legal entities.

An Authorised Company must have a registered office in Mauritius provided by a licensed managing company or law firm if the company does not have its own office. Such company is NOT obliged to appoint secretary, but many companies appoint secretary to simplify the procedure of signing their corporate documents.

An Authorised Company must keep records of transactions made in the course of its activity and keep supporting documentation at its registered address (at its registered agent’s address) and annually file its Financial Summary and Annual Tax Return with the Financial Services Commission.

The incorporation of an Authorised Company takes at least 2 weeks (depending on the structure and business of the company). An account with a local bank may be opened WITHOUT personal presence.

Mauritius: Authorised Company – main services*

Service
Cost (USD)
The total cost of a company with bank account including:
- provision of the original founding documents of the company, documents made for issue of shares, and company seal**;
- government fee and payment for the registered agent’s services for the first year of the company’s existence;
- services of Nominee Director for 1 year;
- bank account opening assistance.
10 000
Compliance fee.
Paid in case of:
- incorporation of a company,
- company’s renewal,
- company’s liquidation,
- transfer to another agent,
- issue of a power of attorney for a new attorney,
- change of director / shareholder / beneficiary, except for a change to a nominee director / shareholder,
- signing of documents.
250 (standard fee – includes check of 1 individual),
+ 150 for each additional individual (director, shareholder or beneficiary) or legal entity (director or shareholder) if legal entity is serviced by GSL,
+ 200 for each additional legal entity (director or shareholder) if legal entity is not serviced by GSL,
350 (rate for High Risk companies, includes check of 1 individual),
100 (signing of documents).
Further annual maintenance (starting from second year):
Services of the registered agent including registered address and annual government fees
4 290
Services of a nominee director (non-resident)
640
Services of a nominee shareholder for 1 year (non-resident)
480
Issue of one apostilled Power of attorney
from 710
Additional services (if necessary):
Apostille of a document
920
Notarization of a document
670
Delivery of documents by courier mail
250
Services for the preparation of financial state-ments ((Financial Summary and Annual Tax Return)
from 1 100

*The cost of services is effective as of the date of sending the offer.

**Not including apostilled set of documents.

Are you interested in the offer?
10000 USD
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