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:

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.

How to register a branch in Cyprus

How to register a branch in Cyprus

Overseas companies may register a branch in Cyprus, according to the Companies Law, Chapter 113, regulated by section 347. A branch will not essentially consider as being a new legal entity in Cyprus.

To Brexit or not to Brexit?

To Brexit or not to Brexit?

To Brexit or not to Brexit - this has been the question of the year for Britain and with the referendum taking place imminently, just two options remain: leave the EU or stay in. Why has this been such a difficult decision to decide upon?

Selecting a Management Information System

Selecting a Management Information System

A management information system or MIS is used to assist in the analyses and formulation of business strategy, as well as facilitating operational objectives. Selection of an MIS can help increase understanding and control in an organisation and can be scaled to suit the complexity of most modern businesses. If the right MIS is selected and it is implemented correctly it can provide a competitive advantage for the organisations utilising it.

Windows 10 update: having issues with the installation?

Windows 10 update: having issues with the installation?

By now you have probably about Windows 10, the latest operating system developed by Microsoft.

Accounting support for a Cyprus company located in Russia

Accounting support for a Cyprus company located in Russia

When expanding your business overseas, not only do you have to comply with International Financial Reporting Standards (IFRS) and accounting standards, thought must also be given to the specific jurisdictions own rules and regulations.