With a thorough set of governing laws, Mauritius features a favorable setting for commercial growth, activity, and investment. As per the Doing Business study by the World Bank, prospective small- to medium-sized LLCs can begin operations and become legally incorporated in Mauritius in a very short time.
The Companies Act of 2001 stipulates a range of choices for Entrepreneurs concerning the genre, size, and kind of organization. Each form offers a variety of advantages and factors to take into account.
Types of corporate structures
There are mainly four types of companies:
- Authorized
- Domestic
- Protected Cell
- Global Trade
Authorized Enterprise
According to Section 71A of the Banking Activities Law, an Authorized Company (AC) is a brand-new type of corporate entity. It takes the position of the previous GBC 2 business, that can no more be established in Mauritius.
In this sort of corporate formation, an individual who is not a native holds most of the stock or voting power. Such a corporation either plans to perform trade primarily outside of Mauritius or already does so with the types of people that the FSC Rules may specify.
An authorized corporation’s stockholders may not be Mauritius residents. There must be at least one stakeholder. An AC’s registered agent is required to submit annual financial accounts.
Domestic Firm
A domestic corporation (DC) is based in the country and conducts trade there. The least expensive option to incorporate an industry is to establish a DC. A DC can be established in 1-2 days. The Municipal Council must issue a corporate license corresponding to the address of the corporation’s main workplace.
If the DC operates mostly outside of Mauritius and at minimum 50% of stocks are owned by non-Mauritians, a global corporate license is necessary.
A Protected Cell Company
A Protected Cell Corporation is a solitary corporate construct where different units may be developed. Each cell’s rights and obligations are lawfully distinct from those of the other cells.
A PCC functions in two separate segments. The Core and the Cells are these two separate components. There can be an endless number of units, but there must only be one Core. To identify and represent the specific Cells to which they are traceable, cellular shares are issued under various names.
A PCC may be organized as an investment property or as an asset holding. PCC must have a minimum of one stakeholder.
Global business company
A global business company in Mauritius engages in certain activities and conducts its primary corporate operations primarily from Mauritius but also works with individuals who are residents of other countries. A GBC is subject to the Financial Services Agency’s regulation and is managed by the Corporations Act of 2001.
These companies can be
Limited by guaranteeing
A syndicate was founded on the idea that each participant’s obligation would depend on the amount they would each agree to pay to the firm’s resources in the case of its dissolution.
Limited by shares
A business founded on the idea that investors’ liability would be restricted by the company’s charter to any outstanding debt on the shares that each shareholder-owned.
Limited life company
A business whose charter restricts its lifespan to not more than 50 years from the time of establishment. It can, nevertheless, change its charter by resolution to make this time limit up to 150 years.
Unlimited company
A business is founded on the idea that shareholders’ responsibility should not be constrained.
One-person company
According to the Constitution, one individual may establish a corporation. But, the shareholder/director must designate one individual to serve as the secretary in the case of the individual’s mortality or disability.
