The bank of mauritius act 2004 act 342004 12th october 2004 proclaimed by proclamation no. All companies are required to have a minimum of one director. Reporting council, the mauritius institute of professional accountants and the national committee on corporate governance enacted by the parliament of mauritius, as follows part i preliminary 1. Mauritius is also a member state of comesa and therefore subject to the comesa competition regulations. Group overview about us meritwise group public ltd. Act subject to application of cape town convention and aircraft protocol. Continuation 1 a company incorporated under the laws of a jurisdiction other than the jurisdiction of the republic of mauritius which a satisfies the requirements prescribed in the companies act 2001 for registration of the company. All companies must maintain statutory books and records that adequately show the transactions and financial position of the company. Securities collective investment schemes and closedend funds amendment regulations 20. Pies are defined in the first schedule of the financial reporting act fra 2004 as all companies that are listed on the stock exchange of mauritius, financial institutions, other than cash dealers, regulated by the bank of mauritius or by the financial services commission, and companies that exceed one of the following thresholds in the two. To operate in the freeport zones, a company must be registered under the companies act 2001 ca2001. The companies act, 20 has been notified in the official gazette on 30th august, 20. Mauritius companies are governed by the companies act, 2001 and regulated by the mauritius financial services commission.
Under the companies act 1984 the 1984 act, a company was required to have a constitution in the form of a memorandum and articles of association. The small enterprises and handicraft development authority act 2005. The limited liability partnerships act 2016 proclamation no. Enforcement of duty on companies to make return to registrar 17. Limited liability companies act, 1996 as amended, 2009. Information and communication technologies act 2001 act 44. Dacosbro was incorporated on 29 may 2017 in mauritius and holds a category 1 global business license in accordance with the mauritian companies act 2001 and the financial services act 2007 of mauritius and has been operational since 30 may 2017. Companies act 1993 no 105 as at january 2020, public. The mauritius companies act 2001 provides confidentiality concerning all matters in relation to companies holding a category 1 global business licence or a category 2 global business licence. Financial services act 2007 31 dec 2018 captive insurance act 2015. The managementand the mauritius companies act 2001. Where the branch of the foreign company ceases to have a place of business in mauritius it must within 7 days of the date of cessation, file with the registrar a notice to that effect. The companies act 2001 came into effect on 1 december 2001, superseding most of the provisions of the companies act 1984. References to companies incorporated under companies act 1955.
Consequently, mauritius gbc companies are used by tax practitioners and businesses to structure investments into mauritius treaty partners, which include china, india, indonesia, luxembourg and thailand. The purpose of this guide is to assist the public to better understand the procedures for incorporation and other filing requirements for companies as set out in the companies act 2001. To simplify the registration process and the operation of companies, this requirement has now been dispensed with under the companies act 2001 the act. The financial services act fsa adopted in 2007, simplifies the regulatory regime and consolidates the legislative framework of the global business sector. Information and communication technologies act 2001 act 442001. As such, under section 1431 of the companies act 2001, the directors are required to act in good faith and in the best interests of the company. Information and communication technologies act 2001 act 442001 proclaimed by.
Companies act 1993 no 105 as at january 2020, public act. The accounting, auditing, and financial reporting framework in mauritius is established by the companies act 2001 and the financial reporting act fra 2004 accounting framework. Information published relating to company officers. Any person who wishes to incorporate a company in mauritius and rodrigues should ensure that the name is available prior to incorporation. Guide to companies in mauritius ihk mittlerer niederrhein. The companies act has been regularly amended to keep pace with changes in respect of mauritius companies and international practice and standards. Global business financial services commission mauritius. The companies act, 20 has been notified in the official gazette on 30th august, 20 but the provisions of this act shall come into force on such dates as the central government may notify in the. Our enabling laws financial services commission mauritius. An act to make provision in relation to corporations and financial products and services, and for other purposes. The act sets a maximum duration of 99 years for trusts other than purpose trusts 25 years and charitable trusts may be perpetual, and permits the accumulation of income limited to 25 years if immovable property in mauritius is involved. Companies amendment act 3 of 2011 act to provide for the incorporation, registration, organisation and management of companies, the capitalisation of profit companies, and the registration of offices of. An act to reform company law and restate the greater part of the enactments relating to companies. Where the branch of the foreign company ceases to have a place of business in mauritius it must within 7.
Please see the comesa summary in the ag section of the app to be found at the ag in africa page. Legislations mauritius chamber of commerce and industry. Protected cell companies conversion regulations 2000. The new business facilitation miscellaneous provisions act 2017 the act, came into force on 20 may 2017. Companies restored to register or that have ceased to be in liquidation may be reregistered. The companies act 2001 provides for several types and categories of companies. Until 2001, companies in mauritius were formed under the companies act 1984, which was modelled on the english companies act 1948.
The financial services act 2007, the securities act 2005, the competition act 2007 and the companies act 2001. Fill the prescribed form application for incorporation of a company form 1and submit it to the registrar of companies together with forms 7, 8 or 9 where necessary. The companies act 2001 applies to all companies whether domestic or those with a global business licence. Global funds registered with the financial services commission fsc in mauritius are commonly structured as companies incorporated under the companies act 2001 and licensed as a company holding a category 1 global business licence under the financial services act 2007 fsa. A foreign company registered under ca2001 can also apply for a freeport license.
Securities collective investment schemes and closedend funds amendment no. Mauritius gbc companies are governed by the companies act, 2001 and regulated by the mauritius financial services commission. Set up offshore company in mauritius company formation. The companies act 2001 also requires all companies other than small private companies to have a secretary and to be ordinarily resident in mauritius. Mauritius companies act 2001 mauritius company law. Securities central depository, clearing and settlement act 1996. Changes that have been made appear in the content and are referenced with annotations. Corporations act 2001 federal register of legislation. Corporate and business registration department companies. Mauritius company formation secure jurisdiction and highly prominent reputation. Regulations governing incorporation are contained in the companies act of 2001, which provides for the setting up of. The mauritius have a series of company laws which are defined in the maurituis companies act 2001. Interpretation in this act, unless the context otherwise indicates.
Short title this act may be cited as the financial reporting act 2004. Global business company ii gbc2 onshore company type with licence mauritius global business company i gbc1. The companies act, 20 passed by the parliament has received the assent of the president of india on 29th august, 20. Some of the provisions of the act have been implemented by a notification. This an act to consolidate and amend the law relating to companies.
Short title this act may be cited as the mauritius qualifications authority act 2001. The act brings a number of amendments to various legislations in view to easing the way we do business in mauritius. Mauritius statute law on companies is contained in the companies act 2001 the companies act, which was modelled after its counterpart from new zealand. The act consolidates and amends the law relating to companies. The reputation of mauritius as an international financial centre rests on the quality of its services and its pool of highly qualified professionals. Setting up a business in mauritius, work in mauritius. Types of companies in mauritius in practice, the term company is usually used by the mauritians to refer to the various forms of trading companies which can be created under the company act on 2001, whereas the term company is used to indicate a society, a general partnership or a limited partnership.
Group overview meritwise group public ltd mgpl was incorporated on 18 july 2018 in mauritius and holds a category 1 global business license in accordance with the mauritian companies act 2001 and the financial services act 2007 of mauritius and has been operational since 30 july 2018. The companies act 2001 refers to four different types of companies. The following is a summary of some of the more important features of the new act. The companies act 2001 stipulates that all companies, except for small private companies which do not qualify as public interest entities pies, must prepare financial statements in accordance with international.
Act 20 the data protection act 2017 22 december 2017 data protection is a fundamental component of todays society and the development of good data protection practices contributes to fostering public trust. Companies act 71 of 2008 english text signed by the president assented to. Companies act 1955 continues to apply for limited purposes. Collective investment schemes and closedend funds in mauritius.
The mauritius financial service commission is the governing authority and companies are regulated under the companies act 2001. Corporate and business registration department home. There are changes that may be brought into force at a future date. Subject to this act, the companies act 2001 and the banking act 2004 shall not apply to the bank. Legislations mauritius chamber of commerce and industry mcci.
Mauritius offers a high level of anonymity and privacy. Names of company officers are filed with the registrar but are not open to public inspection. Act 20 the data protection act 2017 22 december 2017 data protection is a fundamental component of todays society and the development of good data protection practices contributes to. Time of mauritius company formation takes around 3 weeks. You will find below the key extracts from the maurituis companies act along with the full act. Setting up a company in the mauritius freeport is simple. Company snapshot information stock exchange of mauritius. Information and communication technologies act 2001 act 44 2001 proclaimed by.
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