Authorised Company
An Authorised Company is an entity in which a person who is not a citizen of Mauritius holds the majority of shares, voting rights, or legal or beneficial interest. Additionally, the control and management of the company must be outside of Mauritius, and it should primarily conduct business outside of the country.
The Mauritius Revenue Authority issued a Statement of Practice which describes the facts and circumstances to consider in determining if the control & management of a company is in Mauritius. A company has its control & management in Mauritius if it is the place where:
- The strategic decisions on the company’s core activities are taken in or from; and
- Either a majority of the Board of Director’s meetings are held, or where the executive management of the company is regularly exercised.
An Authorised Company is considered a nonresident for tax purposes in Mauritius and cannot access the Double Tax Avoidance Agreements network. Foreign-sourced income of an Authorised Company falls outside the Mauritian tax system. Passive foreign income, such as dividends, interest, and royalties, is also not subject to tax in Mauritius. Dividend distribution made to a foreign shareholder is also outside the scope of Mauritius.
For an Authorised Company to operate in Mauritius, it must appoint a registered agent who will:
- File financial summaries with the FSC;
- File returns of income with the MRA;
- Keep records (board minutes and resolutions, transaction records and such other documents as required by the FSC);
- File any document required under relevant Acts;
- And combat money laundering and terrorist financing.
An Authorised Company is suitable for businesses engaged in international trading, invoicing, marketing, ship management, consultancy services, logistics, and asset holding.
Financial service providers / activities
Assets Management, Distribution of Financial Products, Pension Scheme Administrators, Registrar and Transfer Agent, Treasury Management, Custodian Services (non-CIS), Global Headquarters Administration, Global Treasury Activities.
Specialised financial services / institutions
Credit Finance, Factoring, Leasing, Actuarial Services, Credit Rating Agencies/Rating Agencies, Payment Intermediary Services, Representative Office (for financial services provided by a person established in a foreign jurisdiction), Other Financial Business Activity.
Securities or capital market intermediaries
Investment Dealer, Investment Adviser, Representative of Investment Dealer, Foreign Investment Dealer.
Collective investment schemes (CIS) and closed-end funds (CEF)
CIS, Closed-end fund, Foreign Scheme fund.
CIS functionaries and professionals
Custodian, CIS Manager, CIS Administrator
Insurers / Reinsurers
External Insurance Business, Professional Reinsurer
Insurance service providers
Insurance Manager, Insurance Agent (Company), Insurance Broker
Private pension schemes
Foreign Pension Schemes, External Pension Schemes