Mauritius Type II Company Formation


Mauritius Company Formation

Mauritius Island is recognized for its diversity in culture. Along with that, Mauritius is quiet peaceful. With a fast economic development since the year of 1991, and a fast establishment of Mauritius as a main center of offshore finance, the stable and established political surroundings of Mauritius add to its positivity and attraction. There is an effort being made at the government level in Mauritius to make the economy of the region better. There is an increasing in the interest of investors for investing in Mauritius from different parts of the world. Special interest is being shown in Banking. The island can be reached with ease, the telecommunication system is fairly good and the means that are used for travelling in the region are remarkable.

The typical form of IBC and the IC resemble with each other. In terms of a corporate body, IC is a more preferred option as it is less costly and the obligations imposed by the statute for IC are trivial and easy to follow. IC also gains more preference because of low government fee. No tax or exchange/currency control are imposed on a Mauritian IC. But, there is one drawback that a Mauritian IC does not get any advantage of any agreement signed about double-taxation between Mauritius and other countries. IC should belong to a person who is a non-resident of Mauritius and no business done with the locals of Mauritius and in Mauritian local currency. Also, IC cannot own a real estate or have any other benefit from the rest of the Mauritian corporations other than offshore companies. The activities that are relevant to shipping can be done more suitably with an IC, but such activities should not be conducted within the limits of Mauritius. Under Mauritius Flag registering the ships is the only permitted example of shipping activities. The transactions allowed to IC are relevant to banking, insurance business as well as business of re-insurance. International company can migrate to other jurisdiction out of Mauritius.

Incorporation Requirements

Following are the requirements for company incorporation in Mauritius:

Directors

  • There is a requirement of minimum one director and it’s not necessary for the directors to be resident or nationals of Mauritius.
  • It is allowed to appoint corporate directors.
  • No need for director’s meeting.
  • No need for maintaining public director’s register.

Secretaries

  • There is a requirement of minimum one secretary and it’s not necessary for the secretaries to be resident or nationals of Mauritius.
  • It is allowed to appoint corporate secretaries.
  • No professional qualification requirement for the secretary.

Shareholders

  • There is a requirement of minimum one shareholder.
  • It is allowed to appoint corporate shareholders.
  • No need for maintaining public shares register.
  • Par values of shares are not permitted.
  • Share capital is authorised to be of 100,000 shares with the value of each share of USD 1.
  • Shareholders are not allowed to retain or possess bearer shares.

Incorporation Fee

Kindly have a look at the section of fee schedule for description of incorporation fee. However here is the summary of the fees structure:

  • Fees of government.
  • Fees of local secretary.
  • Fees of local agency.
  • Fees of registered office.
  • Fees of our service.

Once your company incorporates, you will get; certificate of incorporation along with M & A five copies, and original formation documents and minutes.

Incorporation Time                                          

It takes 1 to 2 weeks for company incorporation in Mauritius.

Offshore Bank Account

For the updated details on the facility of offshore bank account, please refer to the section of fee schedule.

Miscellaneous

  • Company should have registered agent.
  • If all shareholders or some are nominee, then there is no need to declare shares ultimate beneficial ownership to authorities.
  • Annual returns of the company must be demonstrated.