Which Activities May Be Done Through An Authorised Company?
The following activities may be done through an Authorised Company:
• Investment holding;
• Property holding;
• International trade;
• Management and consultancy;
• IT Services;
• Logistics;
• Marketing;
• Shipping and ship Management; or
• One-off transaction using a Special Purpose Vehicle.
However, as outlined in the Fourth Schedule to the Financial Services Act 2007, Authorised Companies are not allowed to perform the following activities:
• Financial services, including banking;
• Holding, managing, or dealing with a Collective Investment Scheme (or Fund) as a professional administrator;
• Providing registered office facilities, or nominee, directorship and secretarial services, or other services to corporations; or
• Providing trusteeship services.
Authorised companies are also prohibited to carry out any other activities that may damage the reputation of Mauritius as an International Financial Centre (as determined by the FSC), or are contrary to the public interest.
Main Characteristics Of An Authorised Company
The main characteristics of an Authorised Company are:
• It must be managed and controlled from outside Mauritius;
• It must have a Registered Office and Agent in Mauritius;
• Should submit an outline of the business objective and identity of the promoter, beneficial owner and ultimate beneficial owner to the FSC;
• Is allowed to have Corporate directors;
• Is not allowed to have bearer shares;
• Must file an annual unaudited financial summary with the FSC within six months of the balance sheet date;
• Must file an annual tax return to the Mauritius Revenue Authority within 6 months of the balance sheet date; and
• Must keep accounting records, minutes and registers at the registered office or such other place determined by the directors.