INCORPORATION AND ADMINISTRATION OF LEGAL ENTITIES

Company Incorporation & Administration of Legal Entities

AAMIL is duly licensed and regulated by the Financial Services Commission of the Republic of Mauritius (the “FSC”) and authorised under its licensing conditions pertaining thereto, to act as intermediary between its clients and the regulators. In addition to advising its clients on the most appropriate types of structures and legal vehicles required for their proposed ventures, AAMIL correspondingly sets up, manages and provides nominee and corporate services to individuals, corporations and multi-nationals intending to carry on any Global Business activities permitted under the Financial Services Act 2007 (the “FSA 2007”) of Mauritius. The FSA 2007 provides for the application of two (2) distinct types of Global Business licenses being the:

  • Global Business License Category 1 (“GBL 1”); or
  • Global Business License Category 2 (“GBL 2”).

Accounting

AAMIL prides itself in delivering quality accounting services to our clients, at a very competitive and affordable price. Our accounting services focus on producing reliable and accurate financial reports in line with international standards such as the International Financial Reporting Standards (IFRS), to ensure that the reporting is done as per the requirements of the current legislations.   Our team of dedicated professionals make sure that each of our client’s individual needs are consistently met in a transparent, accurate and timely manner. Our staff are very approachable and are happy to tailor make the work process most ideally suited to your business.

Some services that we offer:

  • Preparation of management accounts and financial statements as per IFRS;
  • Preparation of consolidated accounts for groups;
  • Statutory filing with the relevant authority bodies;
  • Performing of day-to-day accounting and cognate tasks;
  • Maintaining accounting records as per prevailing legislations;
  • Advising on the taxation regime applicable and tax compliance;
  • Acting as an interface between our clients and the auditors for a smooth audit process;
  • Attending board meetings where accounts are approved.

 

“We crunch the numbers for you so that you can focus on the more important aspects of your business.”

BPO & KPO

AAMIL offers the contracting out of non-core business processes (Business Process Outsourcing) in the areas of finance, accounting/bookkeeping, payroll, tax, company administration, company secretarial, and human resources. It also provides for the outsourcing of core information-related business activities (Knowledge Process Outsourcing), where advanced analytical and technical skills as well as a high degree of specialist expertise is required, such as asset management and the unload of in-house legal works.

Advantages

Reduced Operational and Recruitment costs: Contracting with us for your outsourcing, means you no longer need to worry about hiring individuals in-house. Hence, recruitment and operational costs can be substantially minimized.

Swiftness and Expertise: With our team of expert professionals, the tasks can be completed faster and with better quality output.

Concentrating on business strategies rather than the supporting processes: By letting us take care of the supporting processes, you have more time to focus on the more important aspects of your organization such as the strengthening of core business processes and devising strategies to make your organization flourish.

The Mauritius factor: Mauritius being an economically and politically stable country with a sound legal and regulatory framework makes us the partner of choice. Moreover, the island also offers unique strategic advantages such as being located in a time zone (GMT +4) which enables us to do business with the East and the West within a working day. Mauritius also boasts a pool of highly qualified and readily available workforce fluent in both English and French.

“Let us help you achieve more without breaking the bank.”

Taxation

Any legal entity considered resident within the Republic of Mauritius is tax liable on its worldwide and locally derived income. The standard rate of corporate taxation on net income for resident entities (except for Sociétés – Note 1) in Mauritius is flat at fifteen percent (15.00%). Through the various double taxation agreements (“DTA”), which Mauritius has signed with its numerous partner states, foreign tax credits are granted on foreign sourced income declared in Mauritius, on which a foreign tax of similar nature to the rate of Mauritius taxation has been levied. The tables below provide a simplified overview of the tax regime applicable to different types of entities in Mauritius.

Global Business License Category 1 (“GBL 1”) holder

Foreign Sourced Income Rates
Corporate tax rate 15.00%
Foreign tax credit 80.00%
Maximum effective rate of taxation 3.00%

Income derived from Mauritius is taxed at 15.00%.

Global Business License Category 2 (“GBL 2”) holder

Foreign Sourced Income Rates
Corporate tax rate Tax exempt
Foreign tax credit Not applicable
Maximum effective rate of taxation Tax exempt

May not generate income derived from Mauritius.

Domestic entities

Foreign Sourced Income Rates
Corporate tax rate 15.00%
Foreign tax credit Not applicable
Maximum effective rate of taxation 15.00%

Income derived from Mauritius is taxed at 15.00%.

Note 1 : Sociétés mean and include:

  • Sociétés “de fait” or “en participation”;
  • Joint ventures;
  • Limited partnership; and
  • Sociétés or partnerships (general or limited) registered abroad.

Trusts, PTC, Hybrids & Foundations

AAMIL holds the relevant licenses issued by the Financial Services Commission of Mauritius to provide nominee and trusteeship services. Besides the former, AAMIL possesses the know-how and expertise to register civil law foundations in addition to setting-up and incorporating hybrid companies (limited both by shares and by guarantee) and private trust companies. The various types of trusts permitted under the Mauritius Trusts Act 2001, foundations, private trust companies and hybrids are ideal vehicles for asset, wealth, estate and tax planning for individuals, high net worth individuals, families and corporates. Such vehicles provide increased confidentiality if they are to be included in structures holding Global Business Licenses Category 1 (“GBL 1”), Global Business Licenses Category 2 (“GBL 2”) or any other types of companies incorporated in other jurisdictions as shareholder(s).

Today’s entrepreneurs and investors are more conscientious about such matters as estate planning and wealth succession to ensure that the fruits of their labour are duly passed on to their heirs and legatees. It is with such planning in mind that AAMIL advises its clients on the correct decisions to be made (selecting between the appropriate types of trustsversus setting up a private trust company, a foundation or hybrid company all while understanding and keeping in mind the objectives of its clients/). In the English-speaking world, trusts have been used for just under one thousand (1,000) years and form an essential part of estate planning, succession and investments.

Investment Funds

AAMIL advises on the structuring, sets up and administers various types of investment funds within the Republic of Mauritius. The Securities Act 2005 and The Securities (Collective Investment Schemes and Closed End Funds) Regulations 2008 of Mauritius allow for the operation and functioning of two (2) types of funds as listed below:

  • Collective Investment Schemes (“CIS”); and
  • Closed End Funds (“CEF”).

AAMIL and its qualified professionals offer an affordable level of quality service, which includes:

  • Setting up an investment fund as any legal entity as may be approved by the Financial Services Commission of Mauritius (the “FSC”) in the form of a private or public company, trust, limited partnership, etc…;
  • The application for a Global Business License Category 1 (“GBL 1”) with the relevant fund licenses, thus benefiting from a low rate of income tax through Mauritius’ extensive network of double taxation agreements;
  • Providing Fund Manager services (referred to as the CIS Manager in Mauritius) through AAMIL Asset Management Ltd since the former must be a body corporate duly licensed by the FSC;
  • Providing a CIS Administrator through AAMIL (Mauritius) Ltd who shall ensure the good governance of the investment fund;
  • Assisting in drafting various mandatory statutory documentation, which includes for example the prospectus, the private placement memorandum, agreements, etc…;
  • Assisting in the opening of custodian bank accounts;
  • Calculating daily, weekly or monthly Net Asset Values (NAV);
  • Preparing various performance reports;
  • Preparing the respective shareholder`s (subscriber’s) registers;
  • Complying with the regulatory provisions and requirements of the law; and more.

For more information, please feel free to contact us