Requirements and Administration Guidelines
- GBC1 – There are no minimum capital requirements. Capital can be in any currency except the Mauritian Rupee. Bearer shares are not permitted. A minimum of one Shareholder is required. The shareholder can be any nationality and does not need to be resident in Mauritius.
- GBC2 – There are no minimum capital requirements. Bearer shares are permitted, Share Capital is unlimited and there are no extra fees for high capitalization. A minimum of one Shareholder is required. Any change on the beneficial ownership must be notified to the Financial Services Commission in Mauritius within one month.
- GBC1 – A minimum of one director is required however to take advantage of the Double Taxation Treaties two resident Mauritian Directors are required.
- GBC2 – A minimum of one director is required; can be either a corporate or individual
Restrictions on Name & Activity:
- GBC1 – It is prohibited for company names to contain words such as ‘Bank’, ‘Insurance’, ‘Building Society’ or ‘Trust’
- GBC2 – It is prohibited to use any name that is similar to an existing company name
- GBC1 – A Registered Agent and Registered Office in Mauritius is required. The Registered Agent must be appropriately qualified to act as such, for example a lawyer, Licensed Management Company etc. A company secretary is also required. The secretary must be qualified and resident in Mauritius. All records must be kept in the registered office.
- GBC2 – A Registered Agent and Registered Office in Mauritius is required. The Registered Agent must be appropriately qualified to act as such, for example a lawyer, Licensed Management Company etc. A secretary is required but there is no requirement for a qualified, Mauritian Resident to undertake this position.
- GBC1 – Beneficial Owners details are disclosed to the Mauritian Authorities but they are not made available to the public.
- GBC2 – There is no requirement to disclose Beneficial Owners details to the Mauritian Authorities.
- GBC1 – Approximately 3-4 weeks is required.
- GBC2 – Approximately 2 weeks is required.
The Cyprus Co-op Enquiry Public Report: Who Was Really to Blame?
Since the report on the collapse of the Cooperative Credit System was released recently, everyone seemed to have an opinion on the matter about who was to blame for the whole debacle. The report was fairly conclusive, giving a general overview of what the public enquiry discovered.