Offshore Company Glossary

Mauritian company law mixes statutes, regulators and Latin-flavoured jargon. This offshore company terms glossary gathers the expressions you will meet when reading about an Authorised Company, grouped by letter. Where a term has a dedicated page, a link takes you to the full explanation.

The definitions describe the law as published in the sources listed at the end. They are general information, not advice: how a term applies to you depends on your own facts, so ask an adviser before acting.

A

AML/CFT

Anti-money laundering and countering the financing of terrorism. These are the identity and source-of-funds checks that corporate service providers and banks must carry out, and the registered agent of an Authorised Company is responsible for the AML/CFT measures that concern it. Expect to supply identification documents at the start and whenever your situation changes.

Alternative Minimum Tax

A minimum tax under section 44A of the Income Tax Act, set at 10% of the adjusted book profit where the normal tax falls below that level. It targets only certain sectors: licensed hotels, insurers, financial intermediaries, property companies and telecommunications companies. It does not apply to a global business entity, which covers an Authorised Company. See Authorised Company taxation.

Annual fee

The yearly amount paid to the FSC to keep an Authorised Company's authorisation in force. From 1 July 2026 it is USD 1,400, excluding the annual registration fee of USD 65 (or another amount set by the Registrar) payable to the Registrar of Companies. Late payment is surcharged in stages, and the first year's fee is prorated by the quarter in which the authorisation is granted.

Authorised Company

A company incorporated under the Companies Act, mostly owned by non-citizens of Mauritius, that conducts its business mainly outside Mauritius and is centrally managed and controlled from abroad. It must hold an authorisation from the FSC under section 71A of the Financial Services Act 2007. The full definition is on the Authorised Company page.

B

Bearer shares

Shares whose ownership attaches to whoever physically holds the certificate, with no named owner on a register. They conflict with modern transparency requirements, which is why the question of what is allowed is treated separately on the site.

Beneficial owner

The natural person who ultimately owns or controls a company, or on whose behalf a transaction is carried out, whether through shares, voting rights, an ownership interest or control by other means. The earlier wording of section 91 of the Companies Act used 25% of voting rights as a reference point. Banks, providers and the authorities all ask for this person's details.

Beneficial Ownership Register

The register kept by the Registrar of Companies. It is open to the competent authorities and to other prescribed public authorities, and the Companies Act does not describe it as public. For what this means for the owner's privacy, see ownership privacy.

C

CBRIS

The Companies and Businesses Registration Integrated System, the secure web application used to register businesses, incorporate companies, file statutory forms and pay annual fees. It was developed with Mauritius Network Services, the service provider of the Corporate and Business Registration Department.

Central management and control

The place where a company's strategic decisions are really taken. For an Authorised Company it must be outside Mauritius; for tax residence it is one of the two tests that can make a company resident in Mauritius. Practical consequences are discussed in managing an Authorised Company from abroad.

Chief Executive

The senior officer of the FSC who, on behalf of the Commission, issues the authorisation of an Authorised Company once an application filed through a licensed provider has been accepted.

Companies Act 2001

The statute governing the incorporation, constitution, administration and winding up of companies in Mauritius. An Authorised Company is first of all a company under this Act, and then additionally an authorised entity under the Financial Services Act.

Company Service Provider

The statutory name for a business that sets up and administers companies for clients. It is a regulated profession under the FIAMLA, with the Registrar of Companies as its supervisory body in that list. In this site's wording, the relevant licensee is a FSC-licensed corporate service provider (Management Licence).

Constitution

The company's founding rules, setting out its purpose, powers and the rights attached to shares. The rules for an Authorised Company are explained on the constitution page.

Controlled foreign company rules

Anti-avoidance provisions in some countries that tax a resident owner on the profits of a low-taxed foreign company they control, even when nothing is distributed. They are applied by the owner's home country, not by Mauritius. See CFC rules and your offshore company.

Corporate shareholder

A company, rather than an individual, that holds shares in another company. Authorised Companies can have one, but the beneficial owner behind the chain must still be identified.

D

Director

The individual who manages the company's affairs on behalf of its shareholders. How many are needed, and where they must live, depends on the type of company.

Dividend

A distribution of profit to shareholders. For Mauritian tax, foreign-source dividends received by a company can benefit from a partial exemption of 80%, provided they were not deducted in the source country and the company meets the substance conditions set by the regulations.

Dormant company

A company that is kept registered but carries on no activity. It still has to keep up its fees and filings.

Double tax agreement

A treaty between two states that allocates taxing rights and reduces double taxation. Whether a particular company can rely on one depends on its tax residence, which is why residence is a recurring theme throughout this glossary.

E

Export of goods

A term defined in the Income Tax Act. Since the Finance Act 2026 (13 August 2026), it includes the international purchase and resale of goods shipped directly from the exporting country to the importing country without a physical stop in Mauritius, as well as the sale of aviation fuel to an airline.

F

FIAMLA

The Financial Intelligence and Anti-Money Laundering Act. It sets the duties of regulated professions, including company service providers, to identify clients and report suspicious activity.

Financial Services Act 2007

The Act (Act 14 of 2007) under which the FSC operates. Section 71 governs the Global Business Licence and section 71A the Authorised Company. The consolidated text is published by the FSC.

Financial summary

The annual document an Authorised Company files with the FSC, following the model in the Ninth Schedule of the Companies Act (or other documents specified by the FSC Rules), no later than 6 months after the end of its financial year. See annual obligations.

Foreign-source income

Income arising outside Mauritius. Several exemptions in the Second Schedule of the Income Tax Act turn on whether income is of foreign source, so the origin of each stream matters.

Fourth Schedule

The list of activities in the Financial Services Act that an Authorised Company cannot carry on, save for exceptions in the FSC Rules: banking, professional management of collective investment schemes, financial services, corporate services such as head-office, nominee, directorship or secretarial services for companies, and professional trusteeship.

FSC

The Financial Services Commission, the regulator that authorises Authorised Companies and licenses corporate service providers. Its role is set out on the FSC page.

FSC One

The FSC's online platform. For the 2026-27 renewal cycle, annual fees are paid there, including by direct debit or from the deposit account of a FSC-licensed corporate service provider (Management Licence).

FSC Rules

The rules made by the FSC under the Financial Services Act, setting the information, documents and fees for each licence. The Financial Services (Consolidated Licensing and Fees) (Amendment) Rules 2026 (Government Notice No. 119 of 2026) took effect on 1 July 2026 and replaced the fee scale.

G

Global Business Licence

The FSC licence held by a Global Business Corporation (GBC), a company that must be managed and controlled from Mauritius. It is a different regime from the Authorised Company, which is managed and controlled from abroad.

Global business entity

The Income Tax Act's collective label for a company holding a Global Business Licence and a company authorised under section 71A of the Financial Services Act. It matters for provisions such as the Alternative Minimum Tax exclusion.

I

Incorporation

The act of creating a company by registration at the Registrar of Companies. For an Authorised Company, incorporation is followed by the FSC authorisation, applied for through a licensed provider. The registration fee published in the Registrar's guidelines of 4 April 2025 is USD 100. Steps are described under how to open an offshore company.

Income Tax Act

The statute that sets out corporate income tax, residence tests, exemptions and filing duties. Its corporate rate under Part IV of the First Schedule is 15% of taxable income, subject to special regimes.

L

Letter of intent

A document the FSC may issue for a planned global business company, setting the conditions for granting a licence. It can be revoked at any time without reasons and is not a promise that a licence will be granted.

Limited by guarantee

A company whose members promise to contribute a set amount if it is wound up, instead of holding shares. See Authorised Company limited by guarantee.

Limited by shares

A company whose members' liability is limited to the amount unpaid on their shares. This is the usual form for a business. See limited by shares.

M

Management Licence

The FSC licence held by a corporate service provider. The site writes FSC-licensed corporate service provider (Management Licence) because only such a licensee may act as registered agent of an Authorised Company and file its application.

MRA

The Mauritius Revenue Authority, which administers income tax. A company that is treated as non-resident must still file an income tax return.

N

Nominee

A person who holds shares or acts on behalf of someone else. A Mauritian company must record any nominee, and the beneficial owner behind the nominee, in a separate register.

Non-resident company

A company incorporated in Mauritius but treated as non-resident for tax because it is centrally managed and controlled outside the country (section 73A of the Income Tax Act). It must still file a return under section 116. See non-resident company.

O

Offshore company

A common but non-statutory expression for a company set up in a jurisdiction other than where its owner lives or trades. The legal term for the Mauritian version aimed at non-resident owners is the Authorised Company.

P

Permanent establishment

A fixed place of business, or a dependent agent, through which a company is taxed in another country. A permanent establishment can arise abroad even when the company is registered elsewhere. See permanent establishment risk.

Power of attorney

A document by which the company or a director authorises another person to act for it. It is used, for example, when the owner is abroad.

R

Registered agent

The FSC-licensed corporate service provider (Management Licence) that an Authorised Company must have in Mauritius at all times. It files required returns, passes on communications with the FSC, the MRA and the Registrar, handles AML/CFT measures and keeps records such as minutes and resolutions. Changing agent requires a fee set by the FSC Rules.

Registered office

The official address in Mauritius for service of documents. See registered office.

Registrar of Companies

The official who keeps the company register and the Beneficial Ownership Register and receives the annual registration fee.

Royalties

Payments for the use of rights such as intellectual property. Under the Second Schedule, royalties paid to a non-resident out of foreign-source income are exempt from withholding tax.

S

Second Schedule

The part of the Income Tax Act listing exempt income. It covers items such as the partial exemption for foreign dividends and interest, subject to substance conditions.

Secretary

An adult individual ordinarily resident in Mauritius, required for most companies. Section 163 of the Companies Act exempts small private companies and Authorised Companies, and the post may not stay vacant beyond 3 months where it applies.

Share capital

The value of the shares issued to the owners. See share capital.

Shelf company

A company incorporated in advance and held ready for a buyer. See ready-made companies.

Small private company

A private company that did not exceed MUR 100 million in turnover in the previous year, holds no Global Business Licence and is not a First Schedule entity under the Financial Reporting Act. A newly incorporated private company counts as small for its first year.

Substance

The real activity, people and decision-making a company must show to qualify for certain exemptions. The detailed requirements are set by regulations.

T

Tax residence

The status that determines where a company is taxed on its worldwide income. Under section 73(1)(b) of the Income Tax Act, a company is resident in Mauritius if it is incorporated there or its central management and control is there.

W

Withholding tax

Tax deducted at source on certain payments, such as interest or royalties. The Second Schedule exempts interest paid to a non-resident without a business in Mauritius by a Global Business Licence holder out of foreign-source income, as well as royalties paid to a non-resident out of foreign-source income.