A company having its principle place of effective management outside Mauritius and meeting the following criteria shall mandatorily be required to seek authorisation from the FSC to be an Authorised Company (“AC”).
1. Citizenship Test
The majority of shares or voting rights or legal or beneficial interest in a resident corporation (other than a bank licensed by the Bank of Mauritius and such other corporation as may be specified in FSC rules) are held or controlled by a person who is not a citizen of Mauritius
2. Conduct of Business Test
The corporation proposes to conduct business principally outside Mauritius or with such category of persons as may be specified in FSC Rules
An AC must have at all times a registered agent in Mauritius which shall be a management company.
Companies incorporated in Mauritius and having their place of effective management outside Mauritius shall be treated as non-resident. No tax shall be payable in Mauritius but they shall be required to submit a return of income to the MRA.