Financial license

Eltoma can help you become a Full Service Investment Dealer that is licensed in Mauritius.

This license will allow you to provide the following services:

  • Act as an intermediary in the execution of securities transactions for clients;
  • Trade in securities as principal with the intention of reselling these securities to the public;
  • Give investment advice which is ancillary to the normal course of his business activities; and
  • Manage portfolios of clients

The minimum capital requirement shall be Rs 1,000,000 equivalent to USD 34,000.

 

Taxation:

The company will need to be structured as a company holding a Global Business Category One License (GBL1). The Forex dealing activities falls under the Investment Dealer category. GBL1 are governed by the Income Tax Act 1995, under which they are taxed at the flat rate of 15%. Mauritius law allows 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%. There is no capital gains tax, nor withholding tax on dividends and interest paid to non-residents.

 

Description of services provided by Eltoma’s Associate in Mauritius:

A. The Company’s Registered Office

B.  Two (or such other number as may be mutually agreed) persons residing in Mauritius and who shall be persons of appropriate calibre to exercise independence of mind and judgment to be directors of the Company.

C.  The administration of the Company.

D.  Act as Corporate Secretary for the Company.

E.  Assist in opening one (or more) bank account(s) in the name of the Company, its principal bank account being opened with a bank in Mauritius.

F.  Treat as confidential all information exchanged with the Client.

Take the next step, we are here to help.

Register a Mauritius company.
Open a Mauritius bank account.

  Resources:

Russian citizens can gain Cyprus tax residency by staying only 60 days on island, whats the catch?

Russian citizens can gain Cyprus tax residency by staying only 60 days on island, whats the catch?

Cyprus is once again working to improve its economic desirability and will be able to increase its alternative business base for Russians with good creditworthiness.

Cyprus tax department releases new guidance on CRS deadlines and the online portal

Cyprus tax department releases new guidance on CRS deadlines and the online portal

The Cyprus Tax Department has released a notification to all Cyprus based Financial Institutions & Service Providers of the new guidance notes on the Automatic Exchange of Financial Account Information and other information relating to the Common Reporting Standard (CRS).

Hong Kong establishes AEOI agreement with Indonesia

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New requirement for Scottish LPs to disclose all PSC information to the Companies House

The legislation for Scottish Limited Partnerships have changed regarding the disclosure of information. Going forward, Scottish LPs will have to register all information about PSCs and Business Owners with the UK Companies House from July 24th 2017.

 

Key amendments to the Singapore Companies Act

Significant changes to the commercial and company law in Singapore have come into effect. The changes to the Singapore Companies Act will hopefully make business entities more transparent as well as mitigating the risks of money laundering and terrorist financing.

Panama Law 52: Updated legislation for all legal entities

Panama Law 52: Updated legislation for all legal entities

Last month the Government in Panama officially approved Law Number 52; legislation which creates the regulatory framework for the implementation regarding automatically exchanging tax information, in a further attempt to comply with global regulations for tax transparency, and to be fully in line with all supervisory and compliance matters.

Important 2016 reporting deadlines for BVI Financial Institutions

Important 2016 reporting deadlines for BVI Financial Institutions

Officials from the British Virgin Islands have come together to clarify various filing deadlines as per the automatic exchange of information systems in a press release.

Thinking of relocating your business to Singapore? Let us help you!

Thinking of relocating your business to Singapore? Let us help you!

Singapore has quickly become one of the world's most prosperous countries with strong international trading links and per capita GDP equal to that of the leading nations in Western Europe, making it an ideal destination and potential location for Business Owners to relocate and start a new business and lifestyle.