Authorised Company / IBC

What is an Authorised Company (AC)?

An Authorised Company (AC) is a Mauritius offshore company setup in Mauritius to conduct business principally outside of Mauritius and elected as non-resident in Mauritius for tax purposes, hence not taxable in Mauritius on its foreign sourced income.

The majority of shares or beneficial interest of an AC must be held by a non-Mauritius citizen and it is of utmost importance for the AC to be controlled and managed outside of Mauritius to maintain its tax-exempt status.

An AC may opt to have its bank in Mauritius although it is not compulsory to do so.

It is compulsory for an AC to appoint a registered agent in Mauritius. In order to comply with the laws, a registered office is also required due to the fact that all constitutive documents, registers, accounting records, due diligence reports and agreements must be kept there for authorities’ control.

Statutory Information

  • Minimum paid up capital: USD1
  • No par value shares allowed
  • Permitted currencies: Any except MUR
  • No bearer shares allowed
  • Minimum required: One
  • Corporate shareholder (e.g. trust, company): Allowed
  • Records accessible for public inspection: No
  • Annual shareholders meeting: Required
  • Minimum Required: One
  • Corporate director: Allowed
  • Meeting location: Abroad
  • Required: Optional
  • Needs to be local or qualified: No
  • Accounts to be prepared: Financial Summary (no audited accounts required)
  • Filing of financial summary required: Yes
  • Filing of tax return required: No tax return, rather a return of income is filed with the Mauritius Revenue Authority

The bank account

Should you choose to open a bank account account with a bank in Mauritius, Blue Azurite will then open the bank account in any major currency with any of the following banks:

  • ABC Banking
  • ABSA
  • Afrasia
  • Bank One
  • BCP Bank Mauritius
  • HSBC
  • Investec
  • Maubank
  • The Mauritius Commercial Bank (MCB)
  • SBI Mauritius Ltd
  • State Bank of Mauritius (SBM)
  • Silver Bank
  • Standard Bank
  • Standard Chartered
  • Warwyck

Set up your Authorised Company now