Paid-In Share Capital
The above license must have a minimum of MUR500,000 in the company’s books and account upon incorporation. These funds may be utilized and disbursed after being posted into the company’s account for general corporate purposes (after the license’s approval by the regulator).
Directors and Shareholders
We need at least two (2) shareholders (natural persons or bodies corporate)
We need at least two (2) directors (it is mandatory that at least two local directors must be included in the company’s Board of Directors). On top, may be appointed as many as you wish from your side (natural persons or bodies corporate)
Applicable Due Diligence
Accounting, MLRO, auditing, etc
Accounting may be conducted overseas. However, auditing needs to be conducted locally (once per year) by an appointed CPA in Mauritius.
The MLRO (a.k.a. Money Laundering Reporting Officer) needs to be a local Compliance Officer overseeing the licensee’s affairs and its compliance procedure for onboarding clients, conducting operations, etc
Banking
Bank Accounts may be provided at Afrasia Bank, Commercial Bank of Mauritius, Bank One Mauritius, etc.
Our advice is for at least two accounts (one clients’ account for inward/outward payments from/to clients and another account for general corporate purposes i.e. salaries, software, royalties, general expenses, etc)
Tax Treatment
– Professional fees: Preparation and filing of all necessary paperwork to register the the company, name reservation, provision of Constitution, receipt of Certificate of Incorporation, Global Business License, Payment Intermediary Services (PSP) License, first Board Minutes, Share Certificates, setup fees for the domestic company, provision of Registered Office & Company Secretary in Mauritius, provision of two resident directors, fees payable to the Financial Services Commission (FSC) for GBL1 License, obtention of the Payment Intermediary Services (PSP) License, Registrar of Companies License Fee, Tax Residency Certificate (TRC) in Mauritius, the opening of two Bank Accounts in Mauritius (clients’ account & general purposes account), etc.
– Ongoing Administrative Fees:
(a) Fully serviced office in Mauritius to qualify the applicant for the licenses
US$750.00 per month
(b) Appointment of Money Laundering Reporting Officer (MLRO) to qualify the applicant for the licenses
– Annual Renewal from 2nd Year Onwards:
Registered Office, Company Secretary, two resident Directors, GBL1 License’s fees to the FSC, IDL License’s fees to the FSC, fees to the Registrar of Companies, preparation of financial statements, and filing of Tax Returns.
Please also see our (main) website https://global-money.com for other options (i.e. https://kazakhstanfinanciallicenses.com).
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