Procedure of company registration
Mauritius offers two types of Offshore Companies; Global Business Company Category 1 (GBC1) and Global Business Company Category 2 (GBC2). Both are governed by the 2001 Companies Act and regulated by the Mauritius Financial Services Commission. Outlined below are the requirements for registering a GBC1 and GBC2 in Mauritius along with the processes and procedures, administration issues and reporting requirements.
Procedure for GBC1 & GBC2 company registration:
The procedure for the formation of a Mauritius Offshore Company is as follows:
- An application form is completed with details of preferred name and details of beneficial directors and shareholders (nationality, country of residence, address, profession etc)
- A scanned copy of the passport of the beneficial directors and shareholders is required
- A bank reference letter
- A scanned copy of proof of residence. This can be in the form of a utility bill, bank statement or bank reference and must not be older than 3 months
- A bank reference letter and brief business plan
- At this point Eltoma will issue an invoice for a Mauritius Company formation. Upon receipt of money we start the incorporation process.
- The completed application form plus the Constitution of the Company (this replaces the standardised Memorandum and Articles of Association) is sent to the Registrar of Companies in Mauritius. An application is made in parallel to the Financial Services Commission of Mauritius for a Global Business License.
- The process takes approximately 7-10 days for a GBC1 and 2 days for a GBC2
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!
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
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.
How to incorporate a company in Cyprus with the required documentation
Cyprus is the perfect location for incorporating an offshore or private company due to its simple incorporation procedures and agreeable tax structure. Below are the steps to company formation, the registration procedure, and all documentation required for incorporation:
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
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?
By now you have probably about Windows 10, the latest operating system developed by Microsoft.
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.