Established since 2006, va global business is a trusted and reliable management company in mauritius, with the aim of providing company registration, administration and management services for offshore companies in mauritius such as global business corporation, authorised company, redomiciliation of companies to mauritius, global funds, protected cell companies and trusts. Mauritius is a small island with a relatively high standard of living, and it is classified as a high human development country by the undp. Veterinary certificates 1 a all animals to be imported into mauritius shall be accompanied by a certificate, in the form specified in the first schedule, duly signed by a veterinary surgeon. It is incorporated under the companies act 2001 and licensed by the mauritius financial services commission fsc with a category 2 global business licence. Payment systems in mauritius bank for international. Mauritius press room directors personal liability and. Out of these ten banks, five are incorporated locally while the other five are branches of foreign banks. Good utilization of nonreciprocal trade preferences, sound economic policies, large. Mauritius strategy for implementation national assessment. Bank of mauritius for the period 20012003, the main source of fdi in mauritius has been south africa, followed by france, u. Our enabling laws financial services commission mauritius. The companies act, 2008established the term stateowned company, which is defined in section 1 as.
These companies are designed for business outside of mauritius and may not carry on business in mauritius. In june 1995, mauritius benefited from an additional quota of 85,000 tons for the period july 1995 to june 2001 under the special preferential agreement. Guide to companies in mauritius ihk mittlerer niederrhein. Mauritius the insurance act 2005 as amended, 2011 arrangement of sections part i preliminary 1. Major sources of fdi in mauritius are france, india, south africa, and the u. The practice of prohibiting such companies from having a person resident in mauritius as. One such provision has the effect of broadening directors liability. Public company must lodge with asic a copy of a special resolution adopting, modifying or repealing its constitution. Click here to download companies act 2001 pdf version1.
Provisions of this act that do not apply to bodies corporate registered under the acnc act. You will find below the key extracts from the maurituis companies act along with the full act. The new code of corporate governance for mauritius 2016 the new code of corporate governance for mauritius has been published on the national corporate governance committee website at. The new companies act 2001 replaced most of the companies act of 1984, other than sections dealing with insolvency and public companies, which remained in force. Mauritius has been a popular jurisdiction for collective investment schemes and for investment holding companies investing in the emerging african and asian markets.
The mauritius have a series of company laws which are defined in the maurituis companies act 2001. Trade facilitation implementation in republic of mauritius prepared by. Pdf assessing corporate governance practices of mauritian. A number of south african franchises such as nandos, steers, debonair pizza, spur, and ocean basket are also present in mauritius. Registers part ii licensing of insurance business 7. Authorised company is a form of entity in mauritius. Authorised company is a flexible business entity operating exclusively offshore. Please refer to schedule 15 as per section 364 of act no. The report on corporate governance for mauritius is the result of twelve months of hard work by the committee on corporate governance. Mauritius global business information update gbi 06. This chapter applies to offers of interests in managed investment schemes as if. Apr 10, 2017 employment laws in mauritius are defined as the employments rights act. Short title this act may be cited as the rodrigues regional assembly amendment act 2006.
Delinquent directors under the mauritius companies act 2001. The law is quite elaborate and provide precise and detailed information on applicable rules, obligations and right of both parties. The code comprises a set of principles and guidance aimed at improving and guiding the governance practices of organisations within mauritius. Good utilization of nonreciprocal trade preferences, sound economic policies, large investments in human capital, as well as sociopolitical. This publication presents data available as at april 2002 on the performance of the economy during the years 1998 to 2001. Companies act 2001 or a trust, societe or partnership or any body of persons governed by mauritian laws. Financial services act 2007 31 dec 2018 captive insurance act 2015. Asic may direct company to lodge consolidated constitution.
Cocacola and pepsi products are produced under license by mauritius breweries ltd and quality beverages, respectively. It allows for further consultation with affected parties. Under the banking act 1988, financial institutions may be licensed by the bank of mauritius to transact domestic banking business. The companies act 2001 act 15 2001 proclaimed by proclamation no. Affidavits of prescription act amended the affidavits of prescription act is amended in section 42, by deleting the words in 3 local daily newspapers and replacing them by the words in 2 daily newspapers in mauritius. Under the companies act 1984 the 1984 act, a company was required to have a constitution in the form of a memorandum and articles of association. In 2001, measures were introduced and designed t o align the corporate practices of mauritius with best worldwide practic es. Companies may be limited by shares or by guarantee, or they may be unlimited. A gbc 1 is a corporate entity used mainly to benefit from the network of double taxation agreements which mauritius has concluded with a number of treaty countries.
This committee was set up in september 2001 by the honourable sushil khushiram, minister of economic development, financial services and corporate affairs, with the. Mauritius companies act 2001 mauritius company law. Information and communication technologies act icta. It forms part of a larger body of existing laws, rules, regulations, principles and best practices that include. Year 19911992 19971998 20002001 arrivals 435,745 749,153 887,720 departures 440,379 753,035 893,494. Enacted by the parliament of mauritius, as follows 1. The sugar industry efficiency amendment act 20 act no. Mauritiusauthorised company offshore zones offshore and. The financial services development act 2001, the companies act 2001 and the trusts act 2001 were recently enacted by parliament in mauritius.
These measures recommended the introduction of a new. The internet version of this act is for information only. The practice of prohibiting such companies from having a person resident in mauritius as shareholder or beneficial owner has been maintained. Future employers, i believe, would get some clear indications. Trade facilitation implementation in republic of mauritius. Fdi from the united states is negligible with the exception of 2004, when it was the single most important source of fdi as a result of the purchase of equity by u. Many of the resorts and hotels present in mauritius. To simplify the registration process and the operation of companies, this requirement has now been dispensed with under the companies act 2001 the act.
Regulations governing incorporation are contained in the companies act of 2001, which provides for the setting up of. This article may hopefully give everyone an insight into the content of a usual contract of employment. The author outlines reforms made in australia in this area by the corporations act 2001, which along with the australian. The authoritative version is the one published in the government gazette of mauritius no.
Mauritius has an acp quota of 507,000 tons of sugar with the european union under the sugar protocol and 12,000 tons with the u. As from april 2001, the office is implementing the new system of accounting. The new code of corporate governance for mauritius 2016. The companies act 2001 was a major revision of the legislation since 1984. The companies act 71 of 2008 the act came into effect on 1 may 2011 and introduced a number of strenuous provisions.
Until 2001, companies in mauritius were formed under the companies act 1984, which was modelled on the english companies act 1948. Given the success of our article back in 2015, we thought necessary to come up with more information on employment relations in mauritius. The act lays the basics of employment laws of the country and covers almost every right of the employee and the employer. Interpretation in this act principal act means the rodrigues regional act 2001. Prevents parliamentary timetable from being overloaded by allowing them to focus on the big picture e. Bank of mauritius figures for 2006 are for the period januaryseptember only.
Mauritius statute law on companies is contained in the companies act 2001 the companies act, which was modelled after its counterpart from new zealand. Enacted by the parliament of mauritius, as follows. National accounts of mauritius 2001 is the nineteenth issue of an annual report on national accounts published by the central statistics office. Gbc 1s are regulated by both the companies act 2001 and the financial services act 2007.
Directors may be unaware that the separate legal identity of the company may no longer offer them the protection against personal liability as. The limited partnerships act 2011 act 282011 proclaimed by proclamation no. Mauritiusauthorised company offshore zones offshore. The company was incorporated in mauritius under the mauritius companies act 2001 on 17 march 2006 as a private company with liability limited by shares. An act to provide for the establishment and management of the mauritius offshore business activities authority, to regulate offshore business activities from within mauritius, and for the issue of offshore certificates, and to provide for other ancillary or incidental matters. Revised laws of mauritius b3 1 issue 6 banking act act 35 of 2004 10 november 2004 unless otherwise indicated arrangement of sections section part i preliminary 1. Presently, there are ten domestic banks operating in mauritius with 7 branches, 14 counters and 2 mobiles. As such, under section 1431 of the companies act 2001, the directors are required to act in good faith and in the best interests of the company. Summit trust international mauritius products and services. Overseas companies may be registered as companies under this act. It has, also, been announced that securities and insolvency legislation will be enacted in the near future. Application of act part ii licensing of banks and other financial institutions 4.
Va global business mauritius global business, offshore. For tax purposes, these companies are resident in mauritius. Bank of mauritius for the period 2001 2003, the main source of fdi in mauritius has been south africa, followed by france, u. Subject to the terms of the trust, a trustee may accept from any person.