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MAURITIUS AUTHORISED COMPANY

Overview
Key Corporate Features
General Information
Company Information
Compliance
Related Resources
How to proceed

Overview

An Authorised Company (AC) is a tax exempt, flexible business entity that are regularly utilised for international investment holding, international property holding, international trade and international management and consultancy. AC's are not resident for tax purposes and do not have access to Mauritius' tax treaty network. Beneficial ownership is disclosed to the authorities. The place of effective management must be outside of Mauritius; the activity of the company must be conducted principally outside of Mauritius and must be controlled by a majority of shareholders with beneficial interest who are not citizens of Mauritius.

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Key Corporate Features


General
Type of entity: Authorised Company (AC)
Type of law: Hybrid
Shelf company availability: No
Our time to establish a new company: 3-5 Days
Minimum government fees (excluding taxation): US$350 to FSC and US$65 to ROC
Taxation on foreign income: Nil
Double taxation treaty access: No
Share capital or equivalent
Standard currency: US$
Permitted currencies: Any except Rs
Minimum paid up: US$1
Directors or Managers
Minimum number: 1
Local required: No
Publicly accessible records: No
Location of meetings: Outside of Mauritius
Members
Minimum number: 1
Publicly accessible records: No
Location of meetings: Outside of Mauritius
Company Secretary
Required: Optional
Local or qualified: No
Accounts
Requirement to prepare: Yes
Audit requirements: No
Requirement to file accounts: Yes
Publicly accessible accounts: No
Other
Requirement to file annual return: Yes
Change in domicile permitted: Yes

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General Information

Mauritius is situated in the Indian Ocean approximately 800 km off the East Coast of Madagascar.

Population

The population of the Island is approximately 1,250,000 made up principally by people of European, African, Indian and Chinese origin. Mauritius takes pride in the fact that these different cultures co-exist in peace and succeed in creating a cultural entity that is distinctly Mauritian.

Political Structure

The British ruled Mauritius for 158 years until 12 March 1968 when it became an independent country within the Commonwealth. The Republic of Mauritius is a Westminster style democracy. The President is the Head of State and Commander in Chief. Full executive power rests with the Prime Minister who is Head of Government. The Members of Parliament are elected every five years by popular vote and a number of political parties contest the elections every five years, reflecting the country's firm commitment to a multi-party political system.

Economy

Since independence in 1968, Mauritius has developed from a low income, agriculturally based economy to a middle-income diversified economy with growing industrial, financial, and tourist sectors. For most of the period, annual growth has been of the order of 5% to 6%.

Language

English is the official language. However, the Mauritian population is largely bilingual, being equally fluent in English and French. Creole is also spoken and understood by everyone.

Currency

Mauritian Rupee

Exchange Control

None

Type of Law

Common Law for corporate matters.

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MAURITIUS AUTHORISED COMPANY INFORMATION


Principal Corporate Legislation

The Companies Act 2001.

Financial Services Act 2007.

Type of company for international Trade and Investment

An Authorised Company which is similar to a British Virgin Island International Business Company and is non-resident for tax purposes.

Procedure to Incorporate

Submission of the Constitution and a Certificate from the Registered Agent confirming compliance with the requirements of the Ordinance. The application must be supported by a Legal Certificate issued by a local Lawyer certifying that local requirements have been complied with. Finally, directors and shareholders must execute consent forms and these must be filed with the Registrar of Companies.

Restrictions on Trading

An Authorised Company cannot trade within the Republic of Mauritius. The company must be controlled by a majority of shareholders with beneficial interest who are not citizens of Mauritius and the company must have it's place of effective management outside of Mauritius.

Powers of Company

A company incorporated in the Republic of Mauritius has the same powers as a natural person.

Language of Legislation and Corporate Documents

The legislation is in English; the documentation may be expressed in any language but must be accompanied by a certified English translation.

Shelf Companies Available

No.

Name Restrictions

Any name that is identical or similar to an existing company or any name that suggests the patronage of the President or the Government of Mauritius.

Language of Name

English or French.

Names Requiring Consent or a Licence

The following names or their derivatives: assurance, bank, building society, Chamber of Commerce, chartered, co-operative, government, imperial, insurance, municipal, royal, state or trust or any name which in the opinion of the Registrar suggests the patronage of the President or the Government of Mauritius.

Suffixes to Denote Limited Liability

An Authorised Company does not require a suffix in Mauritius.

Disclosure of Beneficial Ownership to Authorities

Yes

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MAURITIUS AUTHORISED COMPANY COMPLIANCE


The usual authorised share capital is US$ 100,000 with all of the shares having a par value.

Classes of Shares Permitted

Registered shares, preference shares, redeemable shares and shares with or without voting rights.

Taxation

An Authorised Company does not pay any tax on its world-wide profits to the Republic of Mauritius.

Licence Fees

US$ 150 on incorporation as license processing fees.
First Annual License Fees for the period from the date of incorporation until the following 30th June - US$ 75 per month
Annual License Fees of US$ 350 to the FSC payable by the 30th of June of every year.
US$ 65 per year to the Registrar of Companies.

Financial Statements Required

Authorised Companies are required to maintain financial statements to reflect their financial position with the Registered Agent and with the authorities. Annual return (return of income) must be filed with the tax office.

Directors

Minimum one, who may be natural person or a body corporate.

Company Secretary

Optional.

Shareholders

The minimum number of shareholders is one.

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Related Resources


Information Downloads & Order Forms


Mauritius Authorised Company Order Form

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How to Proceed


How to Proceed

If you would like to discuss your requirements with one of our consultants,
please contact us.

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