Offshore bank accounts

Mauritius company formation

 

The Mauritius Global Business Sector was established in 1992 to attract foreign investment to a wide range of banking and non-banking activities. The Sector is a major route for foreign investments into the Asian sub-continent and is by far the largest source of foreign direct investment and portfolio investment in India.

In June 2009, there were 32,895 Global Business Companies (GBCs) in Mauritius, including 619 licensed global funds. There are two types of GBCs based on the category of license.

A GBC1 can be structured as a collective investment scheme, global fund or protected cell company. A trust can also qualify for a GBC1 license.

GBC2s are engaged in invoicing, marketing and international trading activities.

Shell companies and bearer shares are not allowed in Mauritius.

As of the end of June 2009, there were 9,883 GBC1s and 23,012 GBC2s.

A GBC1 company is required by law to have two resident directors, to hold board meetings in Mauritius, and to be administered by a management company. A GBC2 company must have a management company as a registered agent in Mauritius.

The offshore sector also includes management companies licensed by the Financial Service Commission (FSC) to provide professional services to GBCs. These services include company incorporation, corporate and fund administration, tax planning and structuring, trusteeship, and accounting services. The management company is required to carry out proper customer due diligence before accepting new business. The FSC licenses and supervises all non-banking financial services and GBCs.

[sources: United States Department of State Bureau for International Narcotics and Law Enforcement Affairs]

 

Offshore companies formation

 

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Bank accounts

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