- Formation and administration of Global Business Corporation and Authorised Company
- Financial Analysis and IFRS Accounting
- Corporate Governance, Board Services, Company Secretarial
- Taxation Regulatory compliance
- Fiduciary services : directorship, bank signatory
GLOBAL BUSINESS CORPORATION
- One type of legal structure which would be adequate for conducting international business would be a global business corporation (GBC)
- A GBC is resident in Mauritius and pays tax at the rate of 15% on its chargeable and taxable profit.
- GBC having specific types of activities are taxed at the rate mentioned below:
• Partial exemption of 80% are available for specific types of income subject to meeting the substance requirements
• 3% for international trading companies
• 15% for companies carrying out other activities
- It may benefit from the 43 double taxation avoidance agreements and 42 Investment Promotion and Protection agreements signed by Mauritius with various countries of Africa and Asia. GBC can apply for a tax residence certificate (“TRC”) subject to the fulfillment of the relevant conditions.
GBC COMPLIANCE AND SUBSTANCE REQUIREMENTS
- Have at least 2 directors resident in Mauritius
- Routing all the transactions through the principal bank account in Mauritius
- Be administered by a licenced management company
- Have its annual financial statements to be prepared and audited in Mauritius
- Have registered office in Mauritius and keep statutory/Accounting records at registered office address
- Minimum expenditure of USD 12,000 for investment holding
ONGOING COMPLIANCE FOR GBC
- Annual audited financial statements to be filed with the authorities not more than 6 months after balance sheet date
- Annual tax returns to be filed not more than 6 months after balance sheet date
- Tax residence certificate to be renewed annually
- Licence fees to be paid annually
- Registration fees to be paid annually
- Arbitration clause to be in Mauritius
Our role as your Company Secretary includes :
CORPORATE SECRETARIAL SERVICES
1. Board Meetings: Attending Meetings, drafting minutes ,keeping and maintaining minute books and certifying copies of minutes.
2. General Meetings: Circulating all documentation to shareholders , co-ordinating the administration and attending meetings and taking minutes.
3. Ensuring that the company complies with its constitution, drafting and incorporating amendments in accordance with correct procedures.
4. General Compliance: Monitoring and ensuring compliance with relevant legal requirements , particularly under the Companies Act and the Code of Corporate Governance.
5. Statutory Registers and Books: Keeping and maintaining of statutory registers.
6. Statutory Returns: Updating the Registrar of Companies on :
- any changes ( resignation, removal, appointment,etc) in the director(s) of a company or particulars relating to director(s)
- annual returns
- change of company name
- adoption, amendment and revocation of constitution
- issue of shares
- any other relevant changes that requires updating with the Registrar of companies.
7. Share registration: Maintaining the company’s register of members and dealing with transfers and other matters.
8. Shareholder Communication: Communicating with the shareholders ( i.e through circulars) ,payment of dividends , issuing documentation regarding rights issue and capitalisation issues and general shareholder relations.
9. Other Secretarial and administrative Services
Share Buy Back
Amalgamation of Companies
Registration of Trade Mark
Application for Freeport License
Application for Tourist Enterprise License
Application of the code of Corporate Governance“Corporate Governance is concerned with holding the balance between economic and social goals, and between individual and communal goals...the aim is to align as nearly as possible the interests of individuals, corporations and society.” Sir Adrian Cadbury, Corporate Governance Overview, 1999, World Bank Report
Our duties and role in ensuring that the code of corporate governance is properly applied include:
- Guidance of the board and each director individually as to their duties and responsibilities and make them aware of all relevant legislations, regulations, listing rule obligations and corporate governance requirements
- Compilation of board papers and ensuring their compliance with the required standards of good governance
- Acting as a central source of guidance and advice within the company on matters of ethics and good governance
- Raising of matters that may warrant the attention of the board
- Ensuring that due regard is paid to the shareholder’s interests.
- Acting as a primary point of contact for institutional and other shareholders with regard to matters of corporate governance.
We act as business facilitators for foreign investors willing to invest in Mauritius. We help and assist the investors in the numerous procedures involved in foreign investment .We also apply for occupational permits for expatriates willing to live and work in Mauritius.
Business Start up services for Investors
Accounting and Tax servicesOur affiliated company, Executive Accounting Limited provides a full range of accounting services for those companies who require a complete and properly constructed set of financial statements.
Our accounting services include:
- Book Keeping
- Business Plans and feasibility studies
- Preparing annual financial statements and reports
- Monthly or quarterly Value Added Tax returns
- Quarterly and annual corporate tax computation
- Personal Tax computation
- Payroll services
- Monthly or quarterly Management accounts
- Implementation of accounting software
- Supervision of your accounting department
- Tax planning
- Administrative services such as issuing sales invoice, making payments, etc
- Business Plans and feasibility studies.
- Audit ( by one of our associate firms)
- Business Structuring, Maximisation of shareholder returns
- Legal documentation review and management
- Risk, Regulatory, Compliance Governance
- Due diligence