MAURITIUS: Package of reforms aims to simplify company regulation
Can you start your own business in less than 24 hours? Businesses in Mauritius will now be able to start operating immediately after registering their business activity due to nonessential Building and Land Use Permit (BLUP) and/or regulatory license. The first of the two key requirements of company registration is the online application and e-payment facilities. Progressing this, an e-certificate of incorporation will be distributed and is accepted as an authentic KYC document.
The Business Facilitation (Miscellaneous Provisions Act) 2017 is the most recent approach for a new attitude towards investment by disposing of regulatory constraints. For example, the land transfer tax and registration duty is being suspended for transferring of land for warehouse construction and transferring of warehouses for business purposes. The objective of the Miscellaneous Provisions Act is so that company registration will become more efficient and centralised around the client as it is now removed from the governing bodies control.
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