Mauritius Authorised Company
Formation of Mauritius Authorised Company
An entity incorporated in Mauritius and being administered by a duly Approved Registered Agent which shall be a licensed Management Company. The Authorised Company shall be held by non-residents and business activities to be conducted outside Mauritius, thus not regarded as Tax Resident In Mauritius.
FACTS & INFO
The Mauritius Authorised Company is ideal for international trading, invoicing or international consultancy business and is often used to hold investments or other assets. An Authorised Company can take any of the forms permitted under the Companies Act 1984 (now the Companies Act 2001). There are a number of restrictions on Authorised Companies owing to which such companies may not: raise capital by public subscription; carry on banking or insurance business; own real estate in Mauritius; own or manage a collective investment fund; provide nominee services, or provide trustee services to more than three trusts, or provide financial or investment services to the public. Authorised Companies cannot trade within the Republic of Mauritius.
Mauritius Authorised Company names must end in one of the following words, or their relevant abbreviations - Limited, Corporation, Incorporated, Public Limited Company, Société Anonyme, Société Anonyme à Responsabilité Limitée, Sociedad Anónima, Berhad, Proprietary, Naamloze Vennootschap, Besloten Vennootschap, Aktiengesellschaft . The following names to be used, require licensing: 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. Names denoting any connection to local, state or national Governments are generally prohibited. Names can be in any language which uses the Latin alphabet.
MEMORANDUM AND ARTICLES OF ASSOCIATION
In order to incorporate an Authorised Company in Mauritius, a Memorandum and Articles of Association must be filed with the Registrar of Companies. 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. Authorised Companies cannot trade within the Republic of Mauritius. The legislation is in English and French whilst documentation may be expressed in any language but must be accompanied by a certified English translation.
A Mauritius Authorised Company must have a minimum of one shareholder, who may be a physical person or a corporate body.
There is no minimum capital requirement, although at least one share must be issued and paid up. The usual authorized share capital is US$ 50,000 with all of the shares having a par value. Registered shares and a variety of shares such as preferred, redeemable, and fractional are allowed. The par value of the share must be declared. Redeemable preference shares may be issued. Bearer shares are not permitted.
An Authorised Company must have at least one director, who may be a physical person or a corporate body. Directors can be of any nationality or residence, and may be the same persons as the shareholders. While details of directors and shareholders are filed with the Registrar of Companies, they are not open to the general public.
REGISTERED OFFICE AND COMPANY SECRETARY
Every Authorised Company must have a Registered Office in Mauritius, which must be located at the premises of a qualified lawyer, certified chartered accountant or licensed Management Company.The Mauritius Authorised Company is not required to have a secretary.
Directors’ and shareholders’ meetings need not be held in Mauritius. A meeting may be attended by telephone or other electronic means. Alternatively, directors and shareholders may vote by proxy. The registers and minutes of meetings must be kept at the registered office.
Two business weeks counting from the application submission date with the local competent authority.
Note: Additional information and/or documentation may be requested in order to finalize the incorporation thus the two business weeks timeframe may be prolonged.
RECURRING AND MAINTENANCE FEE AS FROM 2ND YEAR
- Recurring Maintenance Fees as from the 2nd year - $1880
- Provision of registered office and registered address
- Provision of Registered Agent
- Payment of annual government fee
- Payment of compliance fee
Note: Mauritius companies are renewed by 30th June each year irrespective of the date of incorporation. The fees are pro-rated in four quarters of the year and relevant pro-rated fees will apply depending on the quarter in which the company application is being made.
FINANCIAL STATEMENTS AND AUDIT
A financial summary must be filed annually with the Financial Services Commission Companies. There is no requirement to prepare audited financial statements.
The Mauritius Authorised Company is non-resident for tax purposes and is therefore tax exempt (does not pay any corporate tax, withholding tax on dividends, interest and royalties or any capital gains tax). The Authorised Company may not avail itself of the relief under the Double Taxation Agreements currently in force in Mauritius.
Our Services & Requirements
OUR SERVICES FOR THE COMPANY FORMATION IN MAURITIUS INCLUDE:
- Name check and approval
- Filling incorporation documents with the Registrar of Companies
- A standard set of corporate documents
- Payment of the Government fee
- Provision of registered office and address for one year
- Provision of Registered Agent for one year
- Rubber stamp
Please note: If applying for a corporate bank account you will need to order a full set of apostilled company documents when the account is opened outside of Mauritius.
DOCUMENTS REQUIRED FOR THE COMPANY FORMATION
Please provide the following documents for all Directors, Shareholders, Beneficial Owners, Authorized Signatories:
- Notarized copy of valid passport.
- Original or Certified copy of utility bill / bank statement (as verification of residential address, dated within 3 months).
- Original or certified copy of Banker’s reference letter (dated within 3 months).
- In cases where shareholders and/or directors are corporate bodies, full apostilled set of corporate documents and Certificate of Good Standing (for companies registered more than 1 year).
IMPORTANT NOTE: LICENSABLE BUSINESS ACTIVITIES
If you conduct any activity without required license or authorization granted by a relevant authority in any jurisdiction, STARTING BUSINESS will not be able to assist you with the company formation or bank account opening related to such unlicensed activity.
Licensable activities include, but not limited to: provision of financial services involving trading/brokerage in foreign exchange, financial and commodity-based derivative instruments and other securities; offering investment advice to public; insurance and banking business; operation and administration of collective investment schemes and mutual funds; payment processing services; money exchange, money transmission or money brokering; asset management; safe custody services; gaming, gambling and lotteries.
Please contact us if you need our assistance in licensing of your financial, Forex brokerage or gambling company.
Shipping of corporate documents or banking kits to your destination requires an extra charge and will be automatically added to your order during checkout. Shipping costs for international courier services are set automatically depending on geographic zones.