Procedure of Company Registration - Mauritius | Interstatus - Group of Companies Procedure of Company Registration – Mauritius – Interstatus – Group of Companies

Mauritius companies incorporation process:

Director:

GBC II companies:

At least one director (a natural person or a corporation) is required and no residency qualification applies.

The director and the shareholder may be the same person.

We can offer the services of local (nominee) directors, in full compliance with local legislation, to administer the affairs of your company according to your instructions.

GBC I companies:

A minimum of two directors, who must be private individuals, are required.

Shareholder:

For GBC II companies, a minimum of one shareholder (a private individual or a corporate entity) is required and no residency qualification applies. At the request of the beneficiary we can provide nominee shareholders.

For GBC I companies, at least one shareholder (a natural person or a corporation) is mandatory.

Secretary:

For GBC II companies, a secretary is not required;

For GBC I companies, a secretary is mandatory.

Registered office:

Mauritius companies must have a registered office by Law.

Share capital:

For GBC II companies, there are no requirements for minimum or maximum share capital.

The recommended share capital is $100,000 divided into 100,000 shares with a nominal value of $1. Shares may be issued as registered shares without par value and bearer shares are prohibited.

For GBC I companies, the minimum capital is 2 shares with a nominal value;

Standard authorised capital is $100,000 divided into 100,000 shares with a nominal value of $1. Shares may be issued as registered or preference shares, with or without voting rights. Bearer shares are prohibited.

Registration period:

1-2 weeks but delivery of the full set of documents may need additional time.

Accounting and auditing:

GBC II companies must maintain accounts and submit annual aggregated financial statements to the Financial Services Commission. The documentation must be kept for at least 7 years.

GBC II companies are not required to carry out auditing.

GBC I companies must:

  • submit audited financial statements to the Financial Services Commission;
  • submit an annual tax declaration to the Tax Office;
  • maintain an internal register of directors and shareholders, keep minutes of the meetings of directors and shareholders and keep copies of resolutions and financial statements of the company;
  • notify the Financial Services Commission of any changes to the structure of the company within 1 month.

Financial documentation must be kept for a minimum of 5 years. If the documentation is kept outside Mauritius, the Company Registrar must be notified of the place of keeping such information with the statement that the documentation provides an accurate view of the financial position of the company and can be used to prepare financial statements for presentation to the tax office.

Any breach of financial documentation filing rules will incur a penalty on the company of up to MUR100,000 (around $2,500).

Information in the registers:

All companies must be registered by the Company Registrar.

Information on directors and shareholders is kept by the Company Registrar and the Financial Services Commission keeps information on the beneficiaries. Such information is not freely accessible by the public and can be disclosed only by a court order.