Offshore Companies and Banking

Incorporation (Setup) Costs - US$1,500 (+ US$700 nominee director if required)
The fee is all inclusive, no hidden costs.

Annual Maintenance Costs - US$1,000 (+ US$700 nominee director if required)
The fee is payable after the first year and covers annual taxes, registered agent (and nominees). No hidden costs.

Our company kits are always delivered with the same documents and may vary slightly from jurisdiction to jurisdiction. All our companies come in a deluxe corporate "attache kit", which is all inclusive and ready for use document kit.

Our corporate kits are delivered with the following documents:-
- Articles of Incorporation in English (Notarized and legalized by Apostille)
- Appointment of First Directors / Nominee Directors (if applicable)
- Nominee shareholders (if applicable)
- Shareholder certificates
- Minute Books
- Share registry books
- 1 Power of Attorney (in English and Spanish Notarized and legalized by Apostille)
- Certificate of Incorporation
- Trust agreement (when applicable)
- Minutes and / or board resolutions when requested

Type of Company for International Trade and Investment
A Company holding a Category 2 Global Business License which is similar to a British Virgin Island International Business Company and is non-resident for tax purposes

Procedure to Incorporate
Submission of the Memorandum and Articles of Association and a Certificate from the Registered Agent confirming compliance with the requirements of the Ordinance. The application must be supported by a Legal Certificate issued by a local Lawyer certifying that local requirements have been complied with. Finally, directors and shareholders must execute consent forms and these must be filed with the Registrar of Companies.

Restrictions on Trading
Companies holding a Category 2 Global Business License cannot trade within the Republic of Mauritius.

Powers of Company
A company incorporated in the Republic of Mauritius has the same powers as a natural person.

Language of Legislation and Corporate Documents
The legislation is in English and French whilst documentation may be expressed in any language but must be accompanied by a certified English translation.

Name Restrictions
Any name that is identical or similar to an existing company or any name that suggests the patronage of the President or the Government of Mauritius.

Names Requiring Consent or a Licence
The following names or their derivatives: assurance, bank, building society, Chamber of Commerce, chartered, co-operative, government, imperial, insurance, municipal, royal, state or trust or any name which in the opinion of the Registrar suggests the patronage of the President or the Government of Mauritius.

Suffixes to Denote Limited Liability
Limited, Corporation, Incorporated, Public Limited Company, Société Anonyme, Société Anonyme a Responsabilité Limitée, Sociedad Anónima, Berhad, Proprietary, Naamloze Vennootschap, Besloten Vennootschap, Aktiengesellschaft or the relevant abbreviations.

Stated Share Capital
There is no limit to the number or value of shares that can be issued.

Classes of Shares Permitted
Registered shares, preference shares, redeemable shares and shares with or without voting rights.

Taxation
A Company holding a Category 2 Global Business License does not pay any tax on its world-wide profits to the Republic of Mauritius authorities.

Licence Fees
US$ 135 per year to FSC.
US$ 65 per year to the Registrar of Companies.

Financial Statement Requirements
Companies holding a Category 2 Global Business License are required to maintain financial statements to reflect their financial position with the Registered Agent but are not required to file accounts with the authorities.

Mauritius is situated in the Indian Ocean approximately 800 km off the East Coast of Madagascar.

Population
The population of the Island is approximately 1,200,000 made up principally by people of European, African, Indian and Chinese origin. Mauritius takes pride in the fact that these different cultures co-exist in peace and succeed in creating a cultural entity that is distinctly Mauritian.

Political Structure
The British ruled Mauritius for 158 years until 12 March 1968 when it became an independent country within the Commonwealth. The Republic of Mauritius is a Westminster style democracy. The President is the Head of State and Commander in Chief. Full executive power rests with the Prime Minister who is Head of Government. The Members of Parliament are elected every five years by popular vote and a number of political parties contest the elections, every five years, reflecting the country's firm commitment to a multi-party political system.

Economy
Since independence in 1968, Mauritius has developed from a low income, agriculturally based economy to a middle-income diversified economy with growing industrial, financial, and tourism sectors. For most of the period, annual growth has been of the order of 5% to 6%.

The government's development strategy centres on foreign investment. Mauritius has attracted more than 15,000 offshore entities, many aimed at commerce in India and South Africa, and investment in the banking sector alone has reached over US$1 billion.

The economy in 2000 grew by 8.9% and the Gross National Income per capita at market prices reached 101,948 rupees. Unemployment rate for 2000 is estimated at about 8.0% while inflation stood at 4.2%.

Language
English is the official language. However, the Mauritian population is largely bilingual, being equally fluent in English and French. Creole is also spoken and understood by everyone.

Currency
Mauritian Rupee.

Exchange Control
None.

Type of Law
Common Law for corporate matters.

Principal Corporate Legislation
The Companies Act 2001.
Financial Services Development Act 2001.

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