Our Multijurisdictional Set-up.

MITCO currently operates in three (3) international financial centres namely Mauritius, Dubai UAE and Seychelles.

Through strategic partnerships, MITCO is also able to offer a full set of corporate services for structures in BVI and other financial centres.

Multijurisdictional Set-up - Dubai Mauritius

Through strategic partnerships, MITCO is also able to offer a full set of corporate services for structures in BVI and other financial centres.

Multijurisdictional Set-up - Dubai Mauritius

Mauritius.

Mauritius is a small island in the Indian ocean and its strategic geographical location positions the island as the gateway to Africa whilst connecting Asia, Middle East and Australia.  The island is home to many international banks, major international professional firms, legal international professionals, multinational entrepreneurs and high net worth families.

The island is also internationally recognised for its political, economic and social stability as well as for its regulatory framework.

In Mauritius, MITCO offers a full range of corporate, private clients and funds structuring, administration, compliance and accounting services.

  • Population: ~ 1.3 million
  • Official language: English
  • Widely spoken languages: French, Creole, Asian languages
  • Hybrid legal System: Common & Civil Law
  • GDP per Capita: ~USD 11,014 (2018) GDP Growth: 3.30% (2018)
  • DTAA – with 45 countries
  • IPPA – with 28 countries
  • SADC Treaty, COMESA Treaty, AGOA, WTO
  • Pillars of Economy: Agricultural, Manufacturing, Tourism, Financial Services, information, communication & technology

Mauritius being a diverse and multicultural nation of 1.3 million people, offers a range of investment opportunities in a competitive, well diversified and broad based economy.

Mauritius is amongst the top 20 countries in the world for ease of doing business and has over the years consolidated its leadership position in Sub Saharan Africa.

Mauritius has a sophisticated, transparent and well-regulated international financial centre with a conducive ecosystem offering a complete range of products and services to manage your transactional, operational and financial needs, such as treasury management centre, global funds, protected cell companies, variable capital companies, captives, family office schemes and trusts.

Mauritius is currently connected to two undersea cables namely South Africa Far East (SAFE) AND Lower Indian Ocean Network (LION/LION2) cables for the provision of international internet capacity.

Mauritius is served by more than 20 airlines and connecting over 150 destinations world-wide. In terms of connectivity, Mauritius has direct service to top airport hubs in the world including Paris, London, Singapore Dubai, Johannesburg, Nairobi, New Delhi, Mumbai and Perth.

Index Global Rank Africa Rank
Global Competitiveness Index 2018-2019 49 out of 140 countries 1st
World Bank Doing Business Report 2020 20 out of 190 countries 1st
Mo Ibrahim Index of African Governance 2018 1st
Fraser Institute – Economic Freedom of the world 2018 8 out of 162 countries 1st
Heritage Foundation- 2018 Index of Economic Freedom 21 out of 180 countries 1st
Transparency international- Corruption Perceptions Index 2018 56 out of 180 countries
  • Competitive tax regime: corporate tax and VAT fixed at 15%
  • 80% exemption regime on the following income subject to meeting substance conditions:
    • foreign dividend, subject to amount not allowed as deduction in source country
    • Interest income
    • Foreign-source income derived by a CIS, CEF, CIS Manager, CIS administrator, investment advisor or asset managed licensed or approved by the FSC
    • Income derived from leasing and provision of international fibre capacity, reinsurance and reinsurance brokering activities, sale and financing arrangement and asset management of aircraft
  • 95% tax exemption on interest earned by a CIS or CEF
  • Reduced corporate tax rate of 3% for companies engaged in international trading of goods. The reduced rate of 3% is attributable to the gross income derived from the export of goods in that income year.
  • No withholding tax on interest, royalties and dividends
  • No capital gains tax
  • No estate duty, inheritance, weal or gift taxes
  • No stamp duties, registration duties and levy
  • Tax holidays (under certain conditions) on specific licences – Overseas family offices, Global Headquarters Administration, Global Treasury Activities, Investment Banking, Global legal Advisory Services
  • Mauritius has signed DTTs with 45 countries where double taxation is avoided by means of tax credit given for foreign tax in accordance with the treaties.
  • Strategic location, connecting Europe, Africa, Middle East and Asia
  • Well-regulated and transparent jurisdiction
  • Preferential market access to Africa, Europe and USA
  • Mauritius is the leading international Financial Centre in Africa
  • Availability of highly qualified and bilingual professionals
  • Stable economic, political and sound environment for more than 3 decades
  • Compliant with international norms and standards, including the standards on transparency and exchange of information for tax purposes, the Base Erosion and Profit Shifting recommendations and the Common Reporting Standard on automatic exchange of information
  • Mauritius is sovereign and independent
  • Efficiently regulated financial services centre committed to investors protection
  • Rule of law: transparency
  • Good Corporate Governance
  • Modern financial products and services
  • Strategic time zone (GMT+4). Business can be conducted with the far east in the morning Europe during the day and USD in late afternoon
  • Political stability guaranteed by parliamentary democracy based on Westminster model
  • Hybrid legal system based on English and French laws. The highest court of appeal is the Privy Council in the UK
  • Adherence to international best practice
  • 100% foreign ownership allowed
  • No exchange control – Free repatriation of profits, capital and interest with no withholding tax on dividends royalties and interests
  • Security of assets
  • Efficient banking system
  • Compliant to internationally accepted norms of supervision including those of the Basle Committee on Banking Supervision
  • Well established Stock exchange opened to foreign investors
  • Fully compliant and committed jurisdiction with the Organisation for Economic Co-operation and Development (OECD), FATF and European Union (EU) Agencies
  • Member of the Eastern and Southern Africa Anti-Money Laundering Group

Mauritian Products

The GBC is allowed to be incorporated in Mauritius or be registered as a branch of a foreign company. It is tax resident and have substance in Mauritius.

Common uses of a GBC:

  • To structure investments and projects in countries which are Mauritius double tax avoidance treaty partners.
  • Holding rights to intellectual property, such as industrial designs, copyrights, trademarks, patents
  • Trading, Consultancy services, Collective Investment Schemes, Closed-Ended Funds, Protected Cell Companies
  • Regional Headquartering; financing; Marketing centre

KEY FEATURES

Corporate Taxation: 15%

Type of Law: Hybrid

Double taxation treaty access: Yes, with over 40 countries

Stated Capital:
Currencies: Major currencies except Mauritian Rupees
Minimum paid up: No minimum requirements
No par value shares: Allowed

Directors:
Corporate directorship: Not allowed
Local directors: Minimum 2 required for access to tax treaties

Shareholders:

Corporate shareholder: Allowed

Company Secretary:

Required: Yes

local and qualified: Yes

Registered office in Mauritius: Yes

Company Records
A GBC is required to keep its records (original minutes, resolutions, register of directors/ members, constitution, accounting records) at its registered office in Mauritius.

Financial Statement 
Requirements to prepare: Yes
Audit requirements: Yes
Filing of audited financial statement: Within 6 months after the balance sheet date

Tax Return
Requirements for preparation: Yes
Filing of Tax Return: Within 6 months after the balance sheet date

SUBSTANCE REQUIREMENTS

Category Sub-Category Tax Rate Minimum annual expenditure (USD) Minimum Employment in Mauritius (Direct or Indirect)
Non-Financial Investment Holding (excluding IP rights*) An exemption regime of 80% on:
i. Foreign dividend, subject to the amount not allowed as deduction in source country
ii. Foreign sourced interest income		 12,000
*GBC holding IP rights will be required to demonstrate that they have incurred expenditure in Mauritius which is proportionate to the Research and Development of the relevant IP rights		  No minimum employment
Non-Financial Non-Investment Holding:
International Trading		 Income tax rate: 3% 15,000

If annual turnover is: < than USD 100M: Minimum 1 > USD 100M: Minimum 2
Non-Financial Non-Investment Holding:
Consulting/ Services activity		 Income tax rate: 15% 15,000

If annual turnover is: < than USD 100M: Minimum 1 > USD 100M: Minimum 2
Financial For more information, please contact us

An AC is treated as a non-resident entity in Mauritius for tax purposes provided that its central management and control is outside of Mauritius.

An AC is a flexible business entity which is commonly used for:

  • Investment holding
  • Trading
  • Consultancy activities
  • One-off projects.

KEY FEATURES

Corporate Taxation: No corporate tax if central management and control outside Mauritius

Double taxation treaty access: No

Directors
Minimum director: One
Corporate director: Allowed

Shareholders
Minimum shareholder: One
Corporate shareholder: Allowed

Company Secretary
Required: May or may not have a Company Secretary

Registered Agent
Required: Yes

Registered office
In Mauritius: Yes

Holding of shares
May hold shares in other companies

Financial Statement 
Requirements to prepare Financial Summary: Yes

Audit requirements: No

Filing of Financial Summary: Within 6 months after the balance sheet date

Requirements to prepare and file Annual Tax Return with the Mauritius Revenue Authority, (“MRA”): Yes

A PCC provides flexibility and security for international investment structuring. It is a single legal entity that can divide its assets between different cells within the company. When sub-divided, the assets of each cell are deemed to be entirely separate from each other and the creditors of a cell only have recourse against that particular cell.

A PCC may carry out either of the following qualified global business activities:

  • Asset holding
  • Collective investment schemes
  • Insurance business
  • Specialised collective investment schemes
  • Structured finance business

For more information, please contact us

A Limited Partnership (LP) combines features of both a company and of a partnership. It gives owners the flexibility of operating as a partnership while having a separate legal identity like a private limited company.

Common uses of an LP:

  • Collective investments schemes and closed-end funds
  • Private equity and venture capital schemes
  • Joint venture
  • Holding property interests
  • Tax and financial planning
  • Estate planning
  • Asset protection

KEY FEATURES

Legal Personality:

Can be registered with or without legal personality.
The general partners may elect that a LP shall have a legal personality at any time during the lifetime of the LP.

Duration: Subject to the terms of the partnership agreement, the LP also have a continuous and successive existence, through present and future partners until dissolution.

Registered office
Yes, in Mauritius which must be at the office of a licensed Management Company.

Registered Agent
Unless at least one general partner is resident in Mauritius, every LP shall at all times have and maintain in Mauritius a registered agent.

Company Secretary
An LP holding a Global Business Corporation (GBC) must appoint a Company Secretary, resident in Mauritius.

Tax Treaty access
Yes, with over 40 countries.

Partnership Agreement
Every LP shall have a partnership agreement which shall be binding upon the partners, their assignees and subsequent partners.

Company Records
A LP holding a GBC is required to keep its records at its registered office.
Should the LP decide to keep its records elsewhere, the Registrar of Limited Partnerships/ Registrar of Companies will need to be informed.

Accounts
Every LP shall prepare financial statements in accordance with and comply with the International Accounting Standards, within 6 months after the balance sheet date of the LP. An LP holding a GBC shall file its financial statements and report of the auditor with the Financial Services Commisson (FSC).

Annual Return
Every LP shall once a year submit to the Registrar an annual return of the LP.

Tax Return
LP holding a GBC are required to submit Advance Payment System (APS) statements and pay tax on a quarterly basis either on the basis of either their previous year’s income or the income of the current quarter.

A person shall hold an Investment Dealer Licence or being licensed as a representative of an Investment Dealer by the Financial Services Commission (“FSC”) to:

  • Act or hold himself out as an intermediary in the execution of securities transaction on behalf of other persons;
  • Trade or hold himself out to trade in securities as principal for his own account with the intension of selling them to the public; or
  • Underwrite or distribute or hold himself out to underwrite or distribute securities on behalf of an issuer or a holder of securities

No person other than a body corporate may apply for an Investment dealer Licence.

For more information, please contact us

A person shall hold an Investment adviser licence or being licensed as a representative of an investment adviser by the Financial Services Commission (“FSC”) to:

  • Advise guide, or recommend other persons, or hold himself out to advise, guide or recommend other persons, whether personally or through printed materials or by other means, to enter into securities transactions;
  • Manage or hold himself out to manage, under a mandate, whether discretionary or not, a portfolio of securities.

No person shall give advice on Corporate finance advisory matters concerning securities transactions.

For more information, please contact us

A Domestic Company is registered with the Registrar of Companies and governed under the Companies Act 2001. The activities can be conducted with residents of Mauritius as well as with non-residents of Mauritius.

A domestic company can be set up for various activities:

  • Trading
  • Investment Holding,
  • Consulting Services. amongst others.

KEY FEATURES

Corporate Taxation: 15%

Corporate Social Responsibility (CSR): 2%

Double taxation treaty access: Yes, with over 40 countries

Stated Capital:
Currency: Mauritian Rupees
Minimum paid up: No minimum requirements

Directors:
Resident Director: At least 1 director resident in Mauritius
Corporate Director: Not allowed

Shareholders:
Corporate and Individual shareholder: Allowed

Company Secretary:
Required: Yes

Registered office in Mauritius:
Yes

Financial Statements :
Required: Yes

Corporate Social Responsibility (CSR)
Required: Yes, 2% of chargeable income of the preceding year

Data Protection
Registration: Required to have a data controller

Global Headquarters Administration

Global headquarters administration is defined as the provision of at least 3 of the following services to at least 3 ‘related’ corporations:

  • Administration and general management;
  • Business planning and development and coordination;
  • Economic or investment research and analysis;
  • Services related to international corporate headquarters in Mauritius; and
  • Such other global headquarters administration services as may be specified in Financial Services Commission (FSC) Rules.

Global Treasury Activities

Global treasury activities relate to the provision of at least 3 of the following services to at least 3 ‘related’ corporations:

  • Arrangement for credit facilities, including credit facilities with funds obtained from financial institutions in Mauritius or from surpluses of network companies;
  • Arrangement for derivatives;
  • Corporate finance advisory;
  • Credit administration and control;
  • Factoring, forfeiting and re-invoicing activities;
  • Guarantees, performance bonds, standby letters of credit and services relating to remittances;
  • Management of funds for designated investments; and
  • Such other global treasury activity as may be specified in FSC Rules.

Global Legal Advisory Services

  • An entity which main activity is to provide legal services pertaining to global business, international arbitration, corporate law, taxation law and foreign and international law can apply to the FSC for a Global Legal Advisory Services Licence.

Overseas Family Office (Single) Licence and Overseas (Multiple) Licence

  • The Overseas Family Offices constitute new lines of financial offerings targeting at investment advice, such as budgeting, insurance, charitable trusts, family-owned businesses, wealth transfer, and tax services.

For more information, please contact us

Mauritius Trusts are governed by The Trusts Act 2001 (the “Act”). A trust is a flexible vehicle which can be structured to assist a parent or individual in alignment of their objectives or/and ambitions.

Uses of Trusts

A Trust has a wide variety of uses and benefits, which may include:

  • Asset protecting and ring-fencing
  • Estate planning / transmission
  • Asset holding/ Immovable Property
  • Structured finance

For more information, please contact us

A Private Trust Company (PTC) is a company formed to act as Trustee to a number of trusts, either for the benefit of a single family, or for distinct (but related) family groups.

The PTC takes on the trusteeship of the various family trusts and act as the registered owner of their assets.

A PTC provides:

  • an elegant solution for a family situation where a greater degree of control over the Trust assets is required
  • flexibility in investment decision making process and allows members of succeeding generations to sit on the Board and take part in running the family business.

For more information, please contact us

Foundation in Mauritius are governed by the Mauritius Foundations Act 2012 (the ‘Foundations Act’) and managed by the Foundation Council which carries out the objectives and purposes of a Foundation.

A Foundation is a legal entity without shareholder and member but with beneficiaries. A Foundation has some common features with a Trust and a Corporate entity. It can have varied objectives; charitable, estate planning or commercial.

A Foundation is generally established to reflect the wishes of a Founder(s), who may be an individual or a legal entity. The management of its investments and assets are handled by its Council

For more information, please contact us

Mauritius.

Mauritius is a small island in the Indian ocean and its strategic geographical location positions the island as the gateway to Africa whilst connecting Asia, Middle East and Australia.  The island is home to many international banks, major international professional firms, legal international professionals, multinational entrepreneurs and high net worth families.

The island is also internationally recognised for its political, economic and social stability as well as for its regulatory framework.

In Mauritius, MITCO offers a full range of corporate, private clients and funds structuring, administration, compliance and accounting services.

Mauritius at a Glance

  • Population: ~ 1.3 million

  • Official language: English
    Widely spoken languages: French, Creole, Asian languages

  • Hybrid legal System: Common & Civil Law

  • GDP per Capita: ~USD 11,014 (2018) GDP Growth: 3.30% (2018)

  • DTAA – with 45 countries
    IPPA – with 28 countries
    SADC Treaty, COMESA Treaty, AGOA, WTO

  • Pillars of Economy: Agricultural, Manufacturing, Tourism, Financial Services, information, communication & technology

Key Facts

Mauritius being a diverse and multicultural nation of 1.3 million people, offers a range of investment opportunities in a competitive, well diversified and broad based economy.

Mauritius is amongst the top 20 countries in the world for ease of doing business and has over the years consolidated its leadership position in Sub Saharan Africa.

Mauritius has a sophisticated, transparent and well-regulated international financial centre with a conducive ecosystem offering a complete range of products and services to manage your transactional, operational and financial needs, such as treasury management centre, global funds, protected cell companies, variable capital companies, captives, family office schemes and trusts.

Mauritius is currently connected to two undersea cables namely South Africa Far East (SAFE) AND Lower Indian Ocean Network (LION/LION2) cables for the provision of international internet capacity. 

Mauritius is served by more than 20 airlines and connecting over 150 destinations world-wide. In terms of connectivity, Mauritius has direct service to top airport hubs in the world including Paris, London, Singapore Dubai, Johannesburg, Nairobi, New Delhi, Mumbai and Perth.

Mauritius – International Benchmarks

Index Global Rank Africa Rank
Global Competitiveness Index 2018-2019 49 out of 140 countries 1st
World Bank Doing Business Report 2020 20 out of 190 countries 1st
Mo Ibrahim Index of African Governance 2018 1st
Fraser Institute – Economic Freedom of the world 2018 8 out of 162 countries 1st
Heritage Foundation- 2018 Index of Economic Freedom 21 out of 180 countries 1st
Transparency international- Corruption Perceptions Index 2018 56 out of 180 countries
  • Competitive tax regime: corporate tax and VAT fixed at 15%
  • 80% exemption regime on the following income subject to meeting substance conditions: 
    • foreign dividend, subject to amount not allowed as deduction in source country
    • Interest income
    • Foreign-source income derived by a CIS, CEF, CIS Manager, CIS administrator, investment advisor or asset managed licensed or approved by the FSC
    • Income derived from leasing and provision of international fibre capacity, reinsurance and reinsurance brokering activities, sale and financing arrangement and asset management of aircraft
  • 95% tax exemption on interest earned by a CIS or CEF
  • Reduced corporate tax rate of 3% for companies engaged in international trading of goods. The reduced rate of 3% is attributable to the gross income derived from the export of goods in that income year.
  • No withholding tax on interest, royalties and dividends
  • No capital gains tax
  • No estate duty, inheritance, weal or gift taxes
  • No stamp duties, registration duties and levy
  • Tax holidays (under certain conditions) on specific licences – Overseas family offices, Global Headquarters Administration, Global Treasury Activities, Investment Banking, Global legal Advisory Services
  • Mauritius has signed DTTs with 45 countries where double taxation is avoided by means of tax credit given for foreign tax in accordance with the treaties.
  • Strategic location, connecting Europe, Africa, Middle East and Asia
  • Well-regulated and transparent jurisdiction
  • Preferential market access to Africa, Europe and USA
  • Mauritius is the leading international Financial Centre in Africa
  • Availability of highly qualified and bilingual professionals
  • Stable economic, political and sound environment for more than 3 decades
  • Compliant with international norms and standards, including the standards on transparency and exchange of information for tax purposes, the Base Erosion and Profit Shifting recommendations and the Common Reporting Standard on automatic exchange of information
  • Mauritius is sovereign and independent
  • Efficiently regulated financial services centre committed to investors protection
  • Rule of law: transparency
  • Good Corporate Governance
  • Modern financial products and services
  • Strategic time zone (GMT+4). Business can be conducted with the far east in the morning Europe during the day and USD in late afternoon
  • Political stability guaranteed by parliamentary democracy based on Westminster model
  • Hybrid legal system based on English and French laws. The highest court of appeal is the Privy Council in the UK
  • Adherence to international best practice
  • 100% foreign ownership allowed
  • No exchange control – Free repatriation of profits, capital and interest with no withholding tax on dividends royalties and interests
  • Security of assets
  • Efficient banking system 
  • Compliant to internationally accepted norms of supervision including those of the Basle Committee on Banking Supervision
  • Well established Stock exchange opened to foreign investors
  • Fully compliant and committed jurisdiction with the Organisation for Economic Co-operation and Development (OECD), FATF and European Union (EU) Agencies
  • Member of the Eastern and Southern Africa Anti-Money Laundering Group

Mauritian Products

The GBC is allowed to be incorporated in Mauritius or be registered as a branch of a foreign company. It is tax resident and have substance in Mauritius.

Common uses of a GBC:

  • To structure investments and projects in countries which are Mauritius double tax avoidance treaty partners.
  • Holding rights to intellectual property, such as industrial designs, copyrights, trademarks, patents
  • Trading, Consultancy services, Collective Investment Schemes, Closed-Ended Funds, Protected Cell Companies
  • Regional Headquartering; financing; Marketing centre

KEY FEATURES

Corporate Taxation: 15%

Type of Law: Hybrid

Double taxation treaty access: Yes, with over 40 countries

Stated Capital:
Currencies: Major currencies except Mauritian Rupees
Minimum paid up: No minimum requirements
No par value shares: Allowed

Directors:
Corporate directorship: Not allowed
Local directors: Minimum 2 required for access to tax treaties

Shareholders:

Corporate shareholder: Allowed

Company Secretary:

Required: Yes

local and qualified: Yes

Registered office in Mauritius: Yes

Company Records
A GBC is required to keep its records (original minutes, resolutions, register of directors/ members, constitution, accounting records) at its registered office in Mauritius.

Financial Statement 
Requirements to prepare: Yes
Audit requirements: Yes
Filing of audited financial statement: Within 6 months after the balance sheet date

Tax Return
Requirements for preparation: Yes
Filing of Tax Return: Within 6 months after the balance sheet date

SUBSTANCE REQUIREMENTS

Category Sub-Category Tax Rate Minimum annual expenditure (USD) Minimum Employment in Mauritius (Direct or Indirect)
Non-Financial Investment Holding (excluding IP rights*) An exemption regime of 80% on:
i. Foreign dividend, subject to the amount not allowed as deduction in source country
ii. Foreign sourced interest income		 12,000
*GBC holding IP rights will be required to demonstrate that they have incurred expenditure in Mauritius which is proportionate to the Research and Development of the relevant IP rights		  No minimum employment
Non-Financial Non-Investment Holding:
International Trading		 Income tax rate: 3% 15,000

If annual turnover is: < than USD 100M: Minimum 1 > USD 100M: Minimum 2
Non-Financial Non-Investment Holding:
Consulting/ Services activity		 Income tax rate: 15% 15,000

If annual turnover is: < than USD 100M: Minimum 1 > USD 100M: Minimum 2
Financial For more information, please contact us

An AC is treated as a non-resident entity in Mauritius for tax purposes provided that its central management and control is outside of Mauritius.

An AC is a flexible business entity which is commonly used for:

  • Investment holding
  • Trading
  • Consultancy activities
  • One-off projects.

KEY FEATURES

Corporate Taxation: No corporate tax if central management and control outside Mauritius

Double taxation treaty access: No

Directors
Minimum director: One
Corporate director: Allowed

Shareholders
Minimum shareholder: One
Corporate shareholder: Allowed

Company Secretary
Required: May or may not have a Company Secretary

Registered Agent
Required: Yes

Registered office
In Mauritius: Yes

Holding of shares
May hold shares in other companies

Financial Statement 
Requirements to prepare Financial Summary: Yes

Audit requirements: No

Filing of Financial Summary: Within 6 months after the balance sheet date

Requirements to prepare and file Annual Tax Return with the Mauritius Revenue Authority, (“MRA”): Yes

A PCC provides flexibility and security for international investment structuring. It is a single legal entity that can divide its assets between different cells within the company. When sub-divided, the assets of each cell are deemed to be entirely separate from each other and the creditors of a cell only have recourse against that particular cell.

A PCC may carry out either of the following qualified global business activities:

  • Asset holding
  • Collective investment schemes
  • Insurance business
  • Specialised collective investment schemes
  • Structured finance business

For more information, please contact us

A Limited Partnership (LP) combines features of both a company and of a partnership. It gives owners the flexibility of operating as a partnership while having a separate legal identity like a private limited company.

Common uses of an LP:

  • Collective investments schemes and closed-end funds
  • Private equity and venture capital schemes
  • Joint venture
  • Holding property interests
  • Tax and financial planning
  • Estate planning
  • Asset protection

KEY FEATURES

Legal Personality:

Can be registered with or without legal personality.
The general partners may elect that a LP shall have a legal personality at any time during the lifetime of the LP.

Duration: Subject to the terms of the partnership agreement, the LP also have a continuous and successive existence, through present and future partners until dissolution.

Registered office
Yes, in Mauritius which must be at the office of a licensed Management Company.

Registered Agent
Unless at least one general partner is resident in Mauritius, every LP shall at all times have and maintain in Mauritius a registered agent.

Company Secretary
An LP holding a Global Business Corporation (GBC) must appoint a Company Secretary, resident in Mauritius.

Tax Treaty access
Yes, with over 40 countries.

Partnership Agreement
Every LP shall have a partnership agreement which shall be binding upon the partners, their assignees and subsequent partners.

Company Records
A LP holding a GBC is required to keep its records at its registered office.
Should the LP decide to keep its records elsewhere, the Registrar of Limited Partnerships/ Registrar of Companies will need to be informed.

Accounts
Every LP shall prepare financial statements in accordance with and comply with the International Accounting Standards, within 6 months after the balance sheet date of the LP. An LP holding a GBC shall file its financial statements and report of the auditor with the Financial Services Commisson (FSC).

Annual Return
Every LP shall once a year submit to the Registrar an annual return of the LP.

Tax Return
LP holding a GBC are required to submit Advance Payment System (APS) statements and pay tax on a quarterly basis either on the basis of either their previous year’s income or the income of the current quarter.

A person shall hold an Investment Dealer Licence or being licensed as a representative of an Investment Dealer by the Financial Services Commission (“FSC”) to:

  • Act or hold himself out as an intermediary in the execution of securities transaction on behalf of other persons;
  • Trade or hold himself out to trade in securities as principal for his own account with the intension of selling them to the public; or
  • Underwrite or distribute or hold himself out to underwrite or distribute securities on behalf of an issuer or a holder of securities

No person other than a body corporate may apply for an Investment dealer Licence.

For more information, please contact us

A person shall hold an Investment adviser licence or being licensed as a representative of an investment adviser by the Financial Services Commission (“FSC”) to:

  • Advise guide, or recommend other persons, or hold himself out to advise, guide or recommend other persons, whether personally or through printed materials or by other means, to enter into securities transactions;
  • Manage or hold himself out to manage, under a mandate, whether discretionary or not, a portfolio of securities.

No person shall give advice on Corporate finance advisory matters concerning securities transactions.

For more information, please contact us

A Domestic Company is registered with the Registrar of Companies and governed under the Companies Act 2001. The activities can be conducted with residents of Mauritius as well as with non-residents of Mauritius.

A domestic company can be set up for various activities:

  • Trading
  • Investment Holding,
  • Consulting Services. amongst others.

KEY FEATURES

Corporate Taxation: 15%

Corporate Social Responsibility (CSR): 2%

Double taxation treaty access: Yes, with over 40 countries

Stated Capital:
Currency: Mauritian Rupees
Minimum paid up: No minimum requirements

Directors:
Resident Director: At least 1 director resident in Mauritius
Corporate Director: Not allowed

Shareholders:
Corporate and Individual shareholder: Allowed

Company Secretary:
Required: Yes

Registered office in Mauritius:
Yes

Financial Statements :
Required: Yes

Corporate Social Responsibility (CSR)
Required: Yes, 2% of chargeable income of the preceding year

Data Protection
Registration: Required to have a data controller

Global Headquarters Administration

Global headquarters administration is defined as the provision of at least 3 of the following services to at least 3 ‘related’ corporations:

  • Administration and general management;
  • Business planning and development and coordination;
  • Economic or investment research and analysis;
  • Services related to international corporate headquarters in Mauritius; and
  • Such other global headquarters administration services as may be specified in Financial Services Commission (FSC) Rules.

Global Treasury Activities

Global treasury activities relate to the provision of at least 3 of the following services to at least 3 ‘related’ corporations:

  • Arrangement for credit facilities, including credit facilities with funds obtained from financial institutions in Mauritius or from surpluses of network companies;
  • Arrangement for derivatives;
  • Corporate finance advisory;
  • Credit administration and control;
  • Factoring, forfeiting and re-invoicing activities;
  • Guarantees, performance bonds, standby letters of credit and services relating to remittances;
  • Management of funds for designated investments; and
  • Such other global treasury activity as may be specified in FSC Rules.

Global Legal Advisory Services

  • An entity which main activity is to provide legal services pertaining to global business, international arbitration, corporate law, taxation law and foreign and international law can apply to the FSC for a Global Legal Advisory Services Licence.

Overseas Family Office (Single) Licence and Overseas (Multiple) Licence

  • The Overseas Family Offices constitute new lines of financial offerings targeting at investment advice, such as budgeting, insurance, charitable trusts, family-owned businesses, wealth transfer, and tax services.

For more information, please contact us

Mauritius Trusts are governed by The Trusts Act 2001 (the “Act”). A trust is a flexible vehicle which can be structured to assist a parent or individual in alignment of their objectives or/and ambitions.

Uses of Trusts

A Trust has a wide variety of uses and benefits, which may include:

  • Asset protecting and ring-fencing
  • Estate planning / transmission
  • Asset holding/ Immovable Property
  • Structured finance

For more information, please contact us

A Private Trust Company (PTC) is a company formed to act as Trustee to a number of trusts, either for the benefit of a single family, or for distinct (but related) family groups.

The PTC takes on the trusteeship of the various family trusts and act as the registered owner of their assets.

A PTC provides:

  • an elegant solution for a family situation where a greater degree of control over the Trust assets is required
  • flexibility in investment decision making process and allows members of succeeding generations to sit on the Board and take part in running the family business.

For more information, please contact us

Foundation in Mauritius are governed by the Mauritius Foundations Act 2012 (the ‘Foundations Act’) and managed by the Foundation Council which carries out the objectives and purposes of a Foundation.

A Foundation is a legal entity without shareholder and member but with beneficiaries. A Foundation has some common features with a Trust and a Corporate entity. It can have varied objectives; charitable, estate planning or commercial.

A Foundation is generally established to reflect the wishes of a Founder(s), who may be an individual or a legal entity. The management of its investments and assets are handled by its Council

For more information, please contact us

Seychelles.

Seychelles is an established and reputable international financial jurisdiction offering investors a range of sophisticated tax efficient products.
In Seychelles, MITCO provides corporate services for the administration and accounting of Seychelles International Business Companies.

  • 115 islands
  • 3 million km2 Exclusive Economic Zone (EEZ)
  • 2018 estimated GDP per capita of $16,434
  • Population: 95,000 (2018 est.)
  • Currency: Seychelles Rupees (SCR)
  • A growing economy with expanding opportunities in Fisheries, Agriculture, Real Estate, Adventure Tourism, ICT and Energy
  • Double Tax Treaties with 28 countries
  • 1st in Africa and 28th in the world on the Corruptions Perceptions Index 2018
  • Ranked 2nd for the Mo Ibrahim Index of African Governance
  • Ranked 1st in Africa for Human Development Index.
  • Air connectivity to major hubs in Middle East, Europe, Africa and Asia
  • Politically and economically stable environment
  • Professional network of legal and financial experts
  • No foreign exchange controls
  • Established business and technical support with advanced telecommunication infrastructure
  • FATCA Compliant
  • Friendly legislation
  • Fiscal incentives for investments in some sectors like Tourism, Agriculture, Energy and Fisheries

Seychelles Products

The International Business Company (IBC) is a corporation incorporated under the Seychelles law.  A Seychelles IBC is exempt from any form of tax and withholding taxes in Seychelles. An IBC is a versatile legal structure and can be used to conduct any normal business.

Common uses of an IBC:

  • Asset holding and investments
  • International trading
  • International consulting
  • Re-invoicing

KEY FEATURES

Type of Law: Hybrid Law (English Common Law and French Civil Law)

Corporate Tax: 0%

Shelf company available: Yes

Double taxation treaty access: No

Stated Capital
Currencies: Any currency
Minimum paid up: USD $ 1

Director 
Minimum director: 1
Corporate director: Allowed
Resident director: Not compulsory

Shareholders
Minimum shareholder: 1
Corporate shareholder: Allowed

Company Secretary
Required: May or may not have a company secretary

Registered agent
Required: Yes

Registered office
In Seychelles: Yes

Financial Statement 
Requirements to prepare financial statement: Yes
Audit requirements: No
Filing of financial statement: Not Compulsory

Tax Return
There is no requirement to submit annual tax return

Banking
May hold bank account in Seychelles or in any other countries

A Seychelles CSL is a Seychelles domestic business company registered with Seychelles International Business Authority (SIBA) and issued with a Special Licence (CSL).

A CSL is liable to 1.5% tax on its worldwide income and it entitled to enjoy the benefits of the Double Taxation Agreements that Seychelles have established with a number of countries.

For more information, please contact us

Foundations established in Seychelles are governed by the Foundation Act 2009 (the ‘Act’) and regulated by the Financial Services Authority (FSA), described in the Act 2009 (The “Registrar”)

A Foundation is generally established to reflect the wishes of a Founder(s), who may be an individual, a trust or a corporate entity of any nationality or jurisdiction. The management of its investments and assets are handled by its Council members

For more information, please contact us

Seychelles.

Seychelles is an established and reputable international financial jurisdiction offering investors a range of sophisticated tax efficient products.
In Seychelles, MITCO provides corporate services for the administration and accounting of Seychelles International Business Companies.

Seychelles at a Glance

  • 115 islands

  • 3 million km2 Exclusive Economic Zone (EEZ)

  • 2018 estimated GDP per capita of $16,434

  • Population: 95,000 (2018 est.)

  • Currency: Seychelles Rupees (SCR)

  • A growing economy with expanding opportunities in Fisheries, Agriculture, Real Estate, Adventure Tourism, ICT and Energy

  • Double Tax Treaties with 28 countries

  • 1st in Africa and 28th in the world on the Corruptions Perceptions Index 2018
  • Ranked 2nd for the Mo Ibrahim Index of African Governance
  • Ranked 1st in Africa for Human Development Index.
  • Air connectivity to major hubs in Middle East, Europe, Africa and Asia
  • Politically and economically stable environment
  • Professional network of legal and financial experts
  • No foreign exchange controls
  • Established business and technical support with advanced telecommunication infrastructure
  • FATCA Compliant
  • Friendly legislation
  • Fiscal incentives for investments in some sectors like Tourism, Agriculture, Energy and Fisheries

Seychelles Products

The International Business Company (IBC) is a corporation incorporated under the Seychelles law.  A Seychelles IBC is exempt from any form of tax and withholding taxes in Seychelles. An IBC is a versatile legal structure and can be used to conduct any normal business.

Common uses of an IBC:

  • Asset holding and investments
  • International trading
  • International consulting
  • Re-invoicing

KEY FEATURES

Type of Law: Hybrid Law (English Common Law and French Civil Law)

Corporate Tax: 0%

Shelf company available: Yes

Double taxation treaty access: No

Stated Capital
Currencies: Any currency
Minimum paid up: USD $ 1

Director 
Minimum director: 1
Corporate director: Allowed
Resident director: Not compulsory

Shareholders
Minimum shareholder: 1
Corporate shareholder: Allowed

Company Secretary
Required: May or may not have a company secretary

Registered agent
Required: Yes

Registered office
In Seychelles: Yes

Financial Statement 
Requirements to prepare financial statement: Yes
Audit requirements: No
Filing of financial statement: Not Compulsory

Tax Return
There is no requirement to submit annual tax return

Banking
May hold bank account in Seychelles or in any other countries

A Seychelles CSL is a Seychelles domestic business company registered with Seychelles International Business Authority (SIBA) and issued with a Special Licence (CSL).

A CSL is liable to 1.5% tax on its worldwide income and it entitled to enjoy the benefits of the Double Taxation Agreements that Seychelles have established with a number of countries.

For more information, please contact us

Foundations established in Seychelles are governed by the Foundation Act 2009 (the ‘Act’) and regulated by the Financial Services Authority (FSA), described in the Act 2009 (The “Registrar”)

A Foundation is generally established to reflect the wishes of a Founder(s), who may be an individual, a trust or a corporate entity of any nationality or jurisdiction. The management of its investments and assets are handled by its Council members

For more information, please contact us

Dubai.

In Dubai, UAE, MITCO provides corporate, visa and permits services in the Dubai Multi- Commodity Centre (‘DMCC”) and International Freezone Authority ( ‘IFZA’) freezones.

Get in Touch

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