How to set up an authorised company?

Introduced in the Finance Act 2018 (Miscellaneous Provisions), an Authorised Company (AC) is a company whose business activities are conducted exclusively outside Mauritius. The AC is incorporated under the Companies Act 2001 and licensed by the Financial Services Commission (FSC).

To set up an AC in Mauritius, it is required that the company’s (other than a bank) majority of shares, voting rights, legal or beneficial interest are detained or controlled by a person or group of people who are not Mauritian citizens. An individual or group of individuals having voting rights, legal or beneficial interest for example will not be considered if the latter is of Mauritian citizenship.

The main requirements to set up an AC include:

  • Minimum of one shareholder
  • Copy of ID and/or passport, and proof of the residential address
  • Minimum paid-up capital of one share
  • Appointment of one director (Mauritian or foreigner)
  • Have a registered office in Mauritius
  • May hold meetings in any country and may attend such meetings by electronic means
  • Main bank account does not need to be in Mauritius
  • Required due diligence: promoters, beneficial owners/shareholders, directors, bank account signatories

While an AC has its control and management outside of Mauritius, the company is required to have, at all times, a Registered Agent in Mauritius which shall be a Management Company that is responsible for the administration of the company. As your Corporate Secretary, C&S Secretarial Services can help you find the right Management Company for the setting up of your Authorised Company. Contact us today!

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