MauritiusMauritius is located in the Indian Ocean some distance off the coast of East Africa (east of Madagascar). Mauritius was a British colony until the late 1960's, and retains its English common law background. Its legislative system is based on the British parliamentary system; its legal system is also firmly British based. It has been stable since long before its independence. It is a member of the British Commonwealth. The national language is English, and company documentation is and must be in English. The population is basically English-French bilingual. The local currency is the Mauritius Rupee.
Offshore Companies:
Mauritius has existing and well proven legislation permitting companies to be rapidly and simply incorporated for the purposes of conducting offshore business operations in the form of an International Company.
Setting up an International Company:
Submission of the company's memorandum of association and the articles of association, along with a compliance certificate from the Registered Agent for the Company. The company can be incorporated within 1-2 days.
Buying an International Company:
NACS offers off the shelf companies upon request. Name changes can be accomplished rapidly.
Company name guidelines and restrictions:
The name must be in the Latin alphabet, any name can be chosen provided it is not already in use, it is not obscene, and it does not imply insurance, banking, royal, or governmental related operations or sponsorship. It may end with an approved company designation or abbreviation (Limited, Incorporated, Corporation, Societe Anonyme, Sociedad Anonima, etc.). Names implying or conveying an involvement in banking or insurance operations require consent.
Capital Requirements:
No minimum level required.
Local Registered Office Requirements:
An International Company must always maintain a registered office in Mauritius, and must appoint and retain a resident as the company's registered agent. NACS provides these services for a fee via its associates.
Annual Company License:
This is acquired at the beginning and must be maintained annually thereafter. The annual license fees vary with the share capital of the company. Annual license fees not paid on time incur penalties.
Director Requirements:
At least one director must be appointed and maintained (who can be a corporate director ¡V which can be supplied by NACS). There is no residence or nationality requirement.
Shareholder Requirements:
A minimum of one shareholder is required for an International Company.
Company Secretary Requirements:
A company secretary must be appointed for the International Company: either a person or corporate, no nationality or residence requirements. NACS normally will perform this function, for a fee.
Share Types Allowed:
Registered shares are permissible. Bearer shares are permitted for an International Company.
Taxation Requirements:
There is no taxation for an International Company's operations, assets, or profits. There is an extensive set of tax treaties in existence, with more being added.
Exchange Controls:
There are no exchange controls.
Reporting Requirements:
No accounts or annual report are required to be filed for International Companies, although financial statements indicating an International Company's financial situation must be maintained.
Secrecy:
No explicit secrecy legislation for IBC's, but English law places a clear and heavy responsibility on professionals to keep their client's affairs confidential. No disclosure is required of the beneficial owners of an International Company to the authorities.
Annual Tax/Filing Fee:
There is an annual license fee that is based on the paid in capital of the company: it starts at US$ 200.00 for authorized capital below US$100,000, and is US$300.00 for companies above that level.