Types of company in Mauritius

Choice of Business Structure: a contemporary business setting is run in Mauritius through the Business Facilitation Act. It provides a framework that permits any businesses to begin operations on the premise of self-adherence to comprehensive and clear tips. It additionally aims at facilitating entry of foreign investors, moreover as attracting foreign abilities, know-how, ideas and technology.

New tiny enterprises will begin their business activities among 3 operating days from the time of application for a business allow.

Setting up a Business in Mauritius or Company registration in Mauritius

Choice of the business structure:

The Companies Act 2001 provides for many kinds of companies:

• Domestic Company

• Company holding a class I international Business Licence

• Company holding a class two international Business Licence

These Company might be:

Company restricted by shares

A company shaped on the principle of getting the liability of its shareowners restricted by its constitution to any quantity unpaid on the shares severally control by the shareholder.

Company restricted by guarantee

A company shaped on the principle of getting the liability of its Members restricted by its constitution to such quantity because the Members might severally undertake to contribute to the assets of the corporate within the event of its being tense.

Company restricted by shares and guarantee

A company shaped on the principle of getting the liability of its Members

o who area unit shareholders, restricted to the number unpaid, if any, on the shares severally control by them; and

o who have given a guarantee, restricted to the severally quantity they need undertaken to contribute, from time to time, and within the event of it being wound up;

An unlimited company

A company shaped on the principle of getting no limit placed on the liability of its shareholders

Limited Liability Company

Categories of firms underneath the corporate Act (2001)

A company might either be public or personal.

Public company

• A public company might provide to sell its shares to the general public.

• A public company might have over twenty five shareholders.

Private company

• Must haven’t a lot of that twenty five shareholders.

• Cannot create offers to the general public to subscribe for its shares.

• May impose restrictions on the transfer of shares.

• May dispense with holding of shareholders’ conferences underneath s. 117 and 106.

• May take away a director by special resolution subject to constitution.

• May appoint a director aged over seventy.

• May dispense with the duty to organize associate degree annual report by unanimous resolution (s.218(2))

• May dispense with obligation to stay associate degree interest register by unanimous resolution.

Small personal firms

• it is one with a turnover of but ten million rupees or such alternative quantity as is also prescribed in respect of its last preceding accounting amount ;

• it isn’t a corporation holding a class one international Business Licence

Other classes of firms underneath the corporate Act (2001)

One-person company

The Act provides that one person might type a corporation. However, at incorporation or among six months, the only real shareholder/director should nominate an individual to be the secretary within the event of his death or incapacity.

Dormant firms

A company shall be thought of a dormant company once for any amount no vital accounting dealings has happens in respect to the corporate. This excludes the difficulty of shares, payment of bank charges, licences fees and alternative compliance prices.