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BACKGROUND
Geographical Location
Mauritius is situated in the Indian Ocean approximately 500 miles off the east coast of Madagascar. Geographic
coordinates: 20 17 S, 57 33 E . The island, which is of volcanic origin, covers an area of 1,860 sq km.
Climate: tropical, modified by southeast trade winds; warm, dry winter (May to November); hot, wet, humid
summer (November to May).
Population
The population of the island is approximately 1,182,212 (July 1999 est.) made up principally by people of European,
African, Indian and Chinese origin. This has resulted in a unique blend of races, cultures and religions. 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.
Religions: Hindu 52%, Christian 28.3% (Roman Catholic 26%, Protestant 2.3%), Muslim 16.6%, other 3.1%.
Political Structure
Mauritius was uninhabited until the Dutch arrived in 1598. Before the Dutch it is thought that Arab and Malay
sailors visited the island. Dutch settlers named the island Mauritius after Prince of Nassau. The Dutch left Mauritius
in 1710 and were the first to have introduced sugar cane which covers 90% of arable land. Next came the French
who renamed their colony 'Ile de France'. The French made a considerable contribution to the development of the
harbour, the sugar industry and the capital city of Port Louis. The century-long rule ended in 1810 when the British
captured the island and reinstated the name Mauritius. 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.
Language
The Mauritian population is largely bilingual, being equally fluent in English and French. However, 'Creole'
is understood by everyone. English is the official language.
Currency
Mauritian Rupee
Exchange Control
None
Type of Law
Common Law for Corporate Matters
Principal Corporate Legislation (for international companies)
The International Companies Act 1994
Mauritius International Companies
KEY FEATURES TABLE - - INTERNATIONAL
COMPANIES
| General |
| Political Stability |
Good |
| British Based Legal System |
Yes |
| Type of Company |
IBC |
| Disclosure of Beneficial Owner |
No |
| Migration of Domicile Permitted |
Yes |
| Tax on Offshore Profits |
Nil |
| Non-English Language Names Allowed |
Yes |
| Corporate Requirements |
| Minimum Number of Shareholders |
One |
| Minimum Number of Directors |
One |
| Bearer Shares Allowed |
Yes |
| Corporate Directors Permitted |
Yes |
| Secretary Required |
No |
| Standard Authorised Share Capital |
US$50,000 |
| Local Requirements |
| Registered Office/Agent |
Yes |
| Company Secretary |
No |
| Local Directors |
No |
| Local Meetings |
No |
| Government Register of Directors |
No |
| Government Register of Shareholders |
No |
| Annual Requirements |
| Annual Return |
No |
| Audited Accounts |
No |
| Recurring Government Costs |
| Annual Tax/Licence Fee |
US$100 with Authorised Share capital not exceeding
US$100,000
US$300 with Authorised Share capital exceeding US$100,000 |
| Annual Return Filing Fee |
Nil |
COMPANY FORMATION - INTERNATIONAL
COMPANIES
Type of Company for International Trading
International Business Company
Procedure to Incorporate
Submission of the Memorandum and Articles of Association and a Certificate from the Registered Agent confirming
compliance with the requirements of the ordinance.
Restrictions on Trading
Cannot Trade within the Republic of Mauritius or undertake Banking or Insurance business. Cannot solicit funds
from the Public.
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
English
Shelf Companies available
Yes
Time Scale to Incorporate
Same Day, but allow ten working days for receipt of documentation
Name Restrictions
Any name that is identical or similar to an existing company, or any name that suggests the patronage of the
Royal Family or the Government of the Republic of Mauritius.
Language of Name
Whilst the Name of Company can be in any language, the documentation will be in English. Any name in a language
other than English, must be accompanied by a translation to ensure that the name is not restricted.
Names requiring Consent or a Licence
"Assurance", "Bank", "Building Society", "Insurance", "Trust"
or any name which in the opinion of the Registrar suggests the patronage of the Royal Family or the Government
of the Republic of Mauritius.
Suffixes to denote Limited Liability
"Limited", "Corporation", "Incorporated", "Societe Anonyme", "Sociedad
Anonima", "Public Limited Company", "Societe Anonyme a Responsabilite Limitee", "Berhad",
"Proprietary", "Namloze Vennootschap", "Besloten Vennootschap", "Aktiengesellschaft",
or the abbreviation "Ltd", "Corp", "Inc", "Plc", "S.A.", "S.A.R.C.",
"Bhd", "Pty", "N.V.", "B.v.", "A.G.", "LLC".
Disclosure of Beneficial Ownership to Authorities
No
SHARE CAPITAL, TAXATION, LICENCE FEES AND COMPLIANCE MATTERS - International Companies
Authorised Share Capital
The Normal Authorised Share Capital is $50,000 with all of the shares having a par value.
Classes of Shares Permitted
- Registered Shares
- Bearer Shares
- Shares of no par value
- Preference Shares
- Redeemable shares
- Shares with or without voting rights
Bearer Shares Permitted
Yes
Taxation
An International Business Company does not pay any tax on its worldwide profits to the Republic of Mauritius
authorities.
Licence Fees
A Company incorporated between 1st January and 30th June inclusive in any one year pays its licence fees on
or before the 31st may in the year following incorporation and then annually. A Company incorporated between 1st
July and 31st December in any one year pays its licence fees on or before the 30th November in the year following
incorporation and then annually.
Companies with an Authorised Capital up to $100,000 with all the shares having a par value pay $100 per year,
and Companies with Share Capital in excess of $100,000 pay the sum of $300 per year.
Financial Statement Requirements
There is no requirement to file Audited Accounts with the Authorities in case of International Companies.
STRUCTURE OF MANAGEMENT - International Companies
DIRECTORS
Minimum number of Directors
One
COMPANY SECRETARY
Company Secretary Required
Yes
SHAREHOLDERS
Minimum number of Shareholders
One
Mauritius Offshore Companies
KEY FEATURES TABLE - - OFFSHORE
COMPANIES
| General |
| Political Stability |
Good |
| British Based Legal System |
Yes |
| Type of Company |
Offshore |
| Disclosure of Beneficial Owner |
Yes |
| Migration of Domicile Permitted |
Yes |
| Tax on Offshore Profits |
Yes - varies |
| Non-English Language Names Allowed |
Yes |
| Corporate Requirements |
| Minimum Number of Shareholders |
Two |
| Minimum Number of Directors |
Two |
| Bearer Shares Allowed |
No |
| Corporate Directors Permitted |
No |
| Secretary Required |
Yes |
| Standard Authorised Share Capital |
US$100,000 |
| Local Requirements |
| Registered Office/Agent |
Yes |
| Company Secretary |
Yes |
| Local Directors |
Yes |
| Local Meetings |
No |
| Government Register of Directors |
Yes |
| Government Register of Shareholders |
Yes |
| Annual Requirements |
| Annual Return |
No |
| Audited Accounts |
No |
| Recurring Government Costs |
| Annual Tax/Licence Fee |
$1,500 |
| Annual Return Filing Fee |
Nil |
COMPANY FORMATION - OFFSHORE
COMPANIES
Procedure to Incorporate
Once name approval has been obtained, three copies of the Memorandum and Articles of Association are submitted,
together with a notice of the First Directors, Secretary and location of the Registration Office, and consent forms
signed by the Directors and Secretary.
Restrictions on Trading
Cannot Trade within the Republic of Mauritius. Cannot solicit funds from the Public in 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
English and French
Shelf Companies available
No
Time Scale to Incorporate
Two to Three weeks.
Name Restrictions
Any name that is identical or similar to an existing company, or any name that suggests the patronage of the
Royal Family or the Government of the Republic of Mauritius.
Language of Name
Whilst the Name of Company can be in any language, the documentation will be in English. Any name in a language
other than English, must be accompanied by a translation to ensure that the name is not restricted.
Names requiring Consent or a Licence
"Limited" , "Regional", "State", "Authority" "Municipal",
"Chartered", "Chamber of Commerce", or any name containing a word which in the opinion of the
Registrar suggests the patronage of the Government or has any connection with a local authority in Mauritius or
elsewhere.
Suffixes to denote Limited Liability
"Limited", "Corporation", "Incorporated", "Societe Anonyme", "Sociedad
Anonima", "Public Limited Company", "Societe Anonyme a Responsabilite Limitee", "Berhad",
"Proprietary", "Namloze Vennootschap", "Besloten Vennootschap", "Aktiengesellschaft",
or the abbreviation "Ltd", "Corp", "Inc", "Plc", "S.A.", "S.A.R.C.",
"Bhd", "Pty", "N.V.", "B.v.", "A.G.", "LLC".
SHARE CAPITAL, TAXATION, LICENCE FEES AND COMPLIANCE MATTERS - Offshore Companies
Authorised Share Capital
The Normal Authorised Share Capital is $100,000 with all of the shares having a par value.
Classes of Shares Permitted
- Registered Shares
- Preference Shares
- Redeemable shares
- Shares with or without voting rights
Bearer Shares Permitted
No
Taxation
The Taxation rate varies between 0% and 35%. However, from 1998 tax will be imposed at a flat rate of 15%.
Double Taxation Agreements
Mauritius has a highly effective and expanding network of double taxation agreements. It has entered into Agreements
with the following countries:
- Botswana
- Madagascar
- China
- Malaysia
- France
- Pakistan
- Germany
- Swaziland
- India
- Sweden
- Italy
- United Kingdom
- Luxembourg
- Zimbabwe
- South Africa
The following Treaties are awaiting ratification:
Licence Fees
None
Financial Statement Requirements
Whilst there is no requirement to file Audited Accounts with the authorities, a Company is required to keep
financial records which reflect the financial position of a Company.
STRUCTURE OF MANAGEMENT - Offshore Companies
DIRECTORS
Minimum number of Directors
Two - must be resident in Mauritius
COMPANY SECRETARY
Company Secretary Required
Yes
SHAREHOLDERS
Minimum number of Shareholders
One Corporate Body or Two Individuals
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