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| MAIN ACTIVITIES |
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COMPANY INCORPORATION AND ADMINISTRATION |
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AAMIL provides professional services connected with the setting up and running of local, international and offshore companies, "sociétés", and partnerships. We provide for, inter alia, registered office and registered agent facilities, professional directors, nominee shareholders, opening of bank accounts, company secretarial work, and, where applicable, for the preparation of accounts, tax filing and we also ensure the overall legal and regulatory compliance of our clients' entities.
We are specialised in the registration and administration of domestic entities and entities holding Category 1 and Category 2 Global Business licences, of International Business Companies and of Special Licence Companies respectively in the Republic of Mauritius and in the Republic of the Seychelles, through our specialised service providers. We provide similar services and other financial duties through our network of correspondents worldwide.
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1. Mauritius
Global Business Entities
Any non-resident wishing to set up a company, "société" or partnership under the laws of the Republic of Mauritius will incorporate a Global Business Licence entity. It will either hold a licence Category 1 (GBL1) or 2 (GBL2). The laws of the Republic of Mauritius will ensure confidentiality and secrecy - information about GBL1 and GBL2 is not accessible to the public.
Activities and Advantages of a Global Business Licence Category 1 (GBL1):
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Can act as a "holding" or for asset management, insurance and re-insurance, collective investment funds, or develop any of the activities expressly authorised by the law. |
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Benefit from the extensive tax treaty network (Mauritius currently has double taxation agreements (DTAs) with 35 countries). Frequently used as investment vehicles or to receive royalties, particularly into China, India, Luxembourg or South Africa. |
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Corporate tax rate of 15%. Mauritius laws allow an underlying foreign tax credit up to the amount of tax due in Mauritius. The effective tax rate is thereby generally reduced to 0%; maximum 3%. |
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No capital gains tax, no withholding tax on dividends, interests and royalties paid to non-residents. |
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No foreign exchange controls. |
Activities and Advantages of a Global Business Licence Category 2 (GBL2):
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Cheap and flexible vehicle, ideally suited for trading purposes, international contracts or holding of assets within the context of the E.U. directive on taxation of savings. |
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Tax exempt. |
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Equivalent to the International Business Company type. |
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Procedure for incorporation is carried out quickly. |
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Subsequent simple administration - minimal statutory and filing requirements. |
Main Features: GBL1 v. GBL2
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Global Business Licence Category 1 (GBL1) |
Global Business Licence Category 2 (GBL2) |
| Statutory relevance |
Companies Act 2001 |
Companies Act 2001 |
| Minimum number of subscribers |
1 |
1 |
| Minimum number of shares |
1 |
1 |
| Minimum number of shareholders |
1 |
1 |
| Shares to bearer |
No |
No |
| Nominee shareholders |
Yes |
Yes |
| May benefit from DTAs |
Yes |
No |
| Minimum number of directors |
1* |
1 |
| Corporate director |
No |
Yes |
| Annual general meeting |
Yes |
No |
| Audited accounts |
Yes |
No |
| Continuation / re-domiciliation from/to another jurisdiction |
Yes |
Yes |
| Incorporation period |
7-15 days |
5 days |
| May be active in banking, insurance, fund management and any activity involving public money |
Yes |
No |
| Subject to taxation |
Yes |
No |
| Underlying foreign tax credit |
Yes |
- |
| Capital gains tax |
No |
No |
| Withholding tax on dividends or interest paid out |
No |
No | * A minimum of two directors is required if the company wishes to apply for a Tax Residence Certificate which is a requisite per se towards claiming double taxation relief under the various double taxation agreements (DTAs) signed by Mauritius.
Domestic/Local Companies
We offer foreign investors the opportunity to avail themselves of attractive incentive schemes allowable under the Investment Promotion Act 2000 (as amended by Act No. 14 of 2009) and the Business Facilitation (Miscellaneous Provisions) Act 2006 for investment in different sectors of the Mauritian economy. AAMIL provides for the setting up and structuring of local entities which are the required vehicles for such investments. Local entities can be incorporated either under common law or civil law.
. Investment Schemes
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Information and Communication Technology (ICT). |
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Hotel Industry. |
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Business Process Outsourcing. |
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Regional Headquarters. |
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Freeport. |
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Integrated Resort. |
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Permanent Resident. |
. Advantages and Incentives (depending upon projects)
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Reduced corporate tax; corporate tax rate for local companies is currently 15%. |
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Exemption of customs duties. |
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Preferential loan rates. |
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Reduced tariffs for electricity and water. |
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Free repatriation of profits, dividends and capital, amongst others. |
2. Seychelles
International Business Companies
The Republic of Seychelles provides for the registration of International Business Companies with straightforward incorporation procedures.
. Activities and Advantages of International Business Companies
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Tax exempt company. |
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Same day registration possible. |
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Can take the form of a company limited by shares or a limited life company. |
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Minimal statutory requirements. |
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Frequently used for investment holding and trading. |
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Statutory registration fees are fixed for life, except where such fees are decreased. |
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Bearer shares are allowed. |
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Cannot conduct banking, insurance, re-insurance or trust business. |
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Confidentiality guaranteed by law. |
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Can hold shares, debt obligations or other securities in a domestic Seychelles company. |
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May hold or manage vessel or aircraft registered in the Republic of Seychelles. |
Special Licence Companies
A Special Licence Company is a domestic company which has been granted a special licence to carry out any one of the activities of investment management and advice, offshore banking, offshore insurance, reinsurance, investment, asset holding, marketing, holding of intellectual property, headquarters company, human resources company, franchise company, industrial trade zone company or any other activity as may be approved by the regulator.
. Activities and Advantages of Special Licence Companies
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Liable to a low corporate tax rate of 1.5%. |
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Access to the double taxation agreements. |
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No withholding taxes on dividends, interests and royalties. |
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Nominee shareholders are allowed. |
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Cannot have bearer shares. |
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Corporate directors are not allowed. |
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At least two directors resident in the Seychelles must sit on the board. |
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Company secretary, whether corporate or individual required. |
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Requirement to file accounts. |
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Continuation or re-domiciliation possible. |
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Confidentiality guaranteed. |
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Exemption from stamp duty on property transfers, share transfers and other business transactions, from tax on all furniture and equipment imported for office use and from work permit fees for expatriate workers. |
3. Other jurisdictions
We provide assistance to investors who need to set up business entities in Switzerland and in the United Kingdom, where we have established two of our global offices. We also provide professional counseling on the establishment of international and offshore entities in Luxembourg and India, through our presence there.
Should you need any further information on setting up a business in the Republic of Mauritius, or in the Republic of Seychelles, or anywhere else,
please do not hesitate to contact one of our collaborators »
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