Mauritius is a fast growing international financial centre for structuring of offshore funds and their administration. These Funds can be effectively used for investments by worldwide investors. The Securities Act 2005 and the rules and regulations made under it allow for the creation of Collective Investment Schemes.
Key Features
The investment business of the company is regulated under the Securities Act 2005 (as amended in 2007) and by the “best industry practices” rules set out by the Financial Services Commission (FSC).
Professional CIS are schemes which offer their shares solely to sophisticated investors or as private placements. Sophisticated investors include Governments or public bodies, and banks, amongst others. Professional CIS are exempted from most obligations and regulations as long as the interests of the Professional CIS are not resold to the public and they are not listed on a securities exchange, whether in Mauritius or elsewhere.
Legal Requirements
|
Requirements |
Description |
|
General |
|
|
Category 1 Global Business Company |
|
· License application fee |
USD 1,000 (USD 300 per additional fund) |
|
· Annual license fee |
USD 2,500 (USD 500 per additional fund) |
|
No |
|
Share capital or equivalent |
|
|
· Minimum subscription |
None |
|
· Minimum investors |
None |
|
Directors |
|
|
2 |
|
Yes |
|
Yes |
|
Service Providers Required |
|
|
Yes |
|
Yes |
|
Yes |
|
Yes |
Tax Treatment
- An investment company registered in Mauritius is liable to taxation on its income at the rate of 15%. The laws of Mauritius allow an underlying foreign tax credit, equal to the amount of foreign taxes paid, up to the amount of tax due in Mauritius.
- In the absence of proof, the amount of foreign tax paid is presumed to be 80% of the Mauritius tax. The effective tax rate can thereby be reduced to a maximum of 3%.
- Investment funds which are centrally controlled and managed in Mauritius can, with the approval of the Director General of the Mauritius Revenue Authority, accede to the benefits of Double Taxation Agreements.
- There is no withholding tax on dividends, capital gains and interests.
Duration to Set Up
Around 3 weeks
Distinctive Benefits of Licence
- Ease and speed of establishment
- Flexible structuring of the entity
- Favourable compliance restrictions
- Friendly regulatory environment
The Valsen Advantage
- End to end comprehensive service
- Speedy and efficient service
- Expert advice on structuring options
- Dedicated ongoing compliance support
- Extensive network pool of service providers