Mauritius overhauled its companies act | Norton Rose Fulbright
Offshore business companies of the kind that US multinationals use to hold investments in India, Pakistan and Mauritius converted automatically into “category 1 global business license companies.” At least one director of a category 1 company must be resident in Mauritius, according to Suzanne Gujadhur Bell, director of Mutual Trust Management Mauritius Limited in Port Louis.
Category 1 companies must prepare annual audited accounts and are subject to strict filing deadlines and penalties if they do not comply. The accounts are filed with a new Financial Services Commission that replaced the old Mauritius Offshore Business Activity Authority.
Keith Martin