We’ve compiled the essential information to address the most common questions our clients ask us. If you don’t find the answer to your query, please don’t hesitate to reach out to us directly. We’re always here to assist you!
Yes, a domestic company can be 100% foreign-owned. Mauritius is welcoming to foreign investors, and the process is relatively straightforward. Here are some key facts about domestic companies in Mauritius :
To ensure a smooth process in setting up your domestic company, let C&S Secretarial Services be your guiding hand. From liaising with the requisite local authorities to meticulously handling each step of the procedure, we ensure the entire process is streamlined and hassle-free.
Global Business Companies used to be of two types, namely the Category 1 Global Business Company (GBC1) and the Category 2 Global Business Company (GBC2). However, with the enactment of the Finance Act 2018 (the Act), the GBC1 and GBC2 regimes have been abolished (phased abolishment) and the following have been introduced:
All GBC1 are now GBC
All GBC2 are now Authorised Companies
Find out more about Global Business Licence and Authorised Company on our website.
A company applying for a Global Business Licence should pass the test of conducting business outside Mauritius. An applicant for a Global Business Licence is required to submit the appropriate application to the FSC, channelled through a Management Company of its choice.
Management Companies (MCs) are service providers which act as intermediaries between their clients and the FSC. MCs are licensed by the FSC under Section 77 of the FSA to set up, manage and provide nominee and other services to a corporation (which carries on or intends to carry on any global business and such class of corporation as may be prescribed) or act as corporate trustee or qualified trustee under the Trusts Act 2001.
Only a licensed and qualified Management Company can apply for your GBL. As your Corporate Secretary, we can help you find the right Management Company. Contact us now and let us assist you in getting your Global Business Licence.
Companies holding a Global Business Licence can engage in qualified global business activities, in accordance with their licence.
A GBC can be used for providing financial services including:
A GBC is also a suitable structure for the following types of business activities:
Reach out to us today for more information. We’ll be happy to assist you with any query you may have.
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:
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!
Incorporation of companies can be effected online via the Mauritius Network Services (MNS), the online service provider of the Registrar of Companies (ROC).
Fill in the Form 1: “Application for incorporation of a company” on MNS and upload (where applicable) the Form 7 (Consent of Director), Form 8 (Consent of Secretary) Form 9 (Consent of Shareholder), constitution of the company, legal certificate and Certificate of Reservation.
You must also submit the following documents:
Note: Incomplete or unclear applications will get rejected or may get queries.
Once the incorporation application has been approved, you must pay the annual registration fee at the CBRD or via its online platform using a credit card.
After payment of the prescribed fee, the Registrar will issue an Electronic Certificate of Incorporation and a Business Registration Card (BRC) with the Business Registration Number (BRN).
Note: For the Incorporation of a Company holding a Category 1 or 2 Global Business Licence, the incorporation is only affected after approval is received from the Financial Services Commission.
As your Corporate Secretary, C&S Services assists you in setting up your company. Reach out for a quote today!
Yes, it is possible to incorporate a company even if you are not a citizen of Mauritius. However, you must appoint a local resident company secretary, like C&S Services, and have a registered local office in Mauritius.
You’ll require both a Residence Permit and a Work Permit to legally operate and reside in Mauritius. Recognizing the challenges this process can pose, C&S Secretarial Services steps in to simplify and expedite the procedure on your behalf. Our seasoned experts manage the complete application process, leveraging their profound understanding of the Mauritian legal system to ensure a swift and successful acquisition of the necessary permits.
To incorporate an offshore company in Mauritius, it’s easier to work with a trusted management company specialising in company set up. They will guide you through the whole process, which typically includes submitting Know Your Customer documents, selecting the company type, and developing a comprehensive business plan to fulfil regulatory requirements. C&S Secretarial Services work with the best management companies in Mauritius, allowing us to introduce you to a reliable partner.
Whether you want to set up a domestic company, a GBC or an authorised company, we work towards providing a hassle-free service by dealing with all the relevant authorities, taking care of all the required paperwork and obtaining all necessary permits and licences for you.
Corporate governance refers to the framework of policies and guidelines that inform a company’s conduct, decision-making and practice. This infrastructure is built upon four key principles: accountability, transparency, fairness and responsibility.
Businesses must be able to account for and explain every action and decision taken and are obligated to take ownership of the risks involved.
A corporation must exercise openness and willingness to disclose truthful, accurate and timely information regarding the company’s financial, social and political position to shareholders, stakeholders, consumers and the wider community.
All shareholders and stakeholders should be considered and treated equally, regardless of their respective shareholdings or position on the corporate ladder.
Directors must act ethically at all times. They should take a top-down approach to ethical conduct and engage with long-term shareholders on issues and concerns that affect the company’s long-term value creation.
Well-versed in corporate governance matters, C&S Secretarial Services provides pragmatic advice tailored to your unique organisational needs. Contact us now!
Internal control in corporate governance refers to the system of policies, procedures, and practices that an organisation puts in place to ensure that its operations are conducted efficiently, effectively, and in compliance with relevant laws and regulations. It is typically overseen by the board of directors and senior management and is often documented in written policies and procedures that employees are expected to follow.
Key aspects of internal control in corporate governance include:
helping identify, assess, and mitigate risks that could potentially impact the organisation including financial risks, operational risks, and compliance risks.
ensuring the accuracy and reliability of financial reporting. This involves the review and verification of financial data, preventing fraud, and maintaining transparency.
ensuring that the organisation complies with applicable laws, regulations, and industry standards. This can involve monitoring activities, conducting audits, and implementing policies to ensure compliance.
protecting the organisation’s assets from theft, misuse, or damage including physical assets like inventory and equipment, as well as financial assets.
aiming to improve the efficiency and effectiveness of the organisation’s operations. This can involve streamlining processes, reducing waste, and optimising resource allocation.
Choose C&S Secretarial Services for your corporate governance matters.
Reach out to us today!
Transparency in corporate governance refers to the practice of openly and honestly disclosing information about a company’s operations, financial performance, decision-making processes, and corporate behaviour to its stakeholders.
The objective of transparency is to provide a clear and accurate view of the company’s activities and to build trust and confidence among investors, shareholders, employees, customers, regulators, and the general public.
Key aspects of transparency in corporate governance include:
C&S Secretarial Services assist businesses in establishing a governance framework that not only adheres to best practices but also positions your company for optimal operational and strategic outcomes. Contact us today!
Corporate governance requirements in Mauritius are governed by the Companies Act 2001 and the Financial Reporting Act 2004, along with regulations issued by the Financial Services Commission (FSC).
The following eight corporate governance principles have been designed to be applicable to all organisations covered by the National Code of Corporate Governance for Mauritius (2016):
All organisations should be headed by an effective Board. Responsibilities and accountabilities within the organisation should be clearly identified.
The Board should contain independently minded directors. It should include an appropriate combination of executive directors, independent directors and non-independent non-executive directors to prevent one individual or a small group of individuals from dominating the Board’s decision taking.
There should be a formal, rigorous and transparent process for the appointment, election, induction and re-election of directors.
Directors should be aware of their legal duties and should observe and foster high ethical standards in their organisation. The Board, committees and individual directors should have their performance evaluated and be held accountable to appropriate stakeholders. The Board should be fair in determining the remuneration policy for directors and senior executives.
The Board should be responsible for risk governance and should ensure that the organisation develops and executes a comprehensive and robust system of risk management.The Board should ensure the maintenance of a sound internal system.
The Board should present a fair, balanced and understandable assessment of the organisation’s financial, environmental, social and governance position, performance and outlook in its annual report and on its website.
Organisations should consider having an effective and independent internal audit function that has the respect, confidence and co-operation of both the Board and the management.
The Board should be responsible for ensuring that an appropriate dialogue takes place among the organisation, its shareholders and other key stakeholders.
C&S Secretarial Services also provides assistance to companies regarding their corporate governance matters. Reach out to us today!
A company secretary, often referred to as the corporate secretary in some jurisdictions, acts as a vital link between a company, its directors, shareholders, and regulatory authorities. Their primary responsibilities encompass a wide range of critical functions including :
A company secretary ensures the company complies with all relevant laws and regulations. They manage statutory filings and maintain accurate company records.
They organise and document board meetings and general meetings, ensuring that meeting minutes are kept. Company secretaries advise the board on corporate governance best practices and regulatory changes.
Company secretaries help uphold ethical standards and oversee the implementation of corporate policies, ensuring that the company operates in a transparent and responsible manner.
They act as custodians of the company’s seal and official documents, handling legal contracts and agreements while maintaining statutory books.
As your Corporate Secretary, C&S Secretarial Services assists you in maintaining the integrity, transparency, and accountability of your company’s operations, thereby fostering trust among stakeholders and facilitating the company’s long-term success.
A qualified company secretary, like C&S Secretarial Services, is a professional who is educated, trained, and certified to carry out the responsibilities associated with the role of a company secretary. The qualifications and requirements for becoming a company secretary can vary by jurisdiction and the specific needs of the organisation, but generally, a qualified company secretary possesses the following characteristics:
With years of combined experience and extensive professional expertise, C&S Secretarial Services is your qualified Company Secretary specialised in the field of corporate secretarial services for domestic companies in Mauritius.
A corporate services provider, often referred to as a CSP, is a professional or a company that offers a range of administrative, legal, financial, and regulatory services to businesses. These services are designed to help businesses operate efficiently, comply with legal and regulatory requirements, and manage various aspects of their corporate structure.
The specific services offered by corporate services providers can vary, but they often include the following:
Corporate services providers play a crucial role in supporting businesses, particularly those operating in multiple jurisdictions or seeking to optimise their corporate structures. They help businesses navigate complex legal and regulatory landscapes, reduce administrative burdens, and ensure they remain compliant with various requirements.
