We all have an aim or goal, but knowing the means to attain those goals may not always be known or understood. We at Loita, take the time to understand each client’s need and aim in order to provide personalised services suited to each client’s needs. We assist clients interested in Global Business ventures to set up and manage their administrative needs, leaving you to focus more on running your business.
Incorporation of companies
Previously two categories of Global Business Companies (GBC), namely GBC1 and GBC2 existed, but Since 1st January 2019, the GBC1 has become the Global Business Company (GBC) with the introduction of a new type of entity, the Authorised Company to replace GBC2.
Global Business Company (GBC)
Global Business License: Such corporation proposes to conduct or conducts business principally outside Mauritius or with such category of persons as may be specified in the Financial Services Commission (FSC) Rules. A Global Business Licence is considered to be a tax resident in Mauritius and enjoys benefits under the extensive Double Taxation Avoidance (DTA) networks of Mauritius. The majority of its shares, voting rights, the legal and beneficial interest can be held or controlled by both citizens and non-citizens of Mauritius.
Authorised Company: The majority of shares/voting rights/the legal or beneficial interest in the company, are held or controlled, as the case may be, by (a) person(s) who is/are not a citizen(s) of Mauritius. It principally conducts its business and has its place of effective management outside of Mauritius. It shall, at all times, have a registered agent in Mauritius which shall be a management company. It is treated as non-resident for tax purposes in Mauritius and is required to file an annual tax return with the Mauritius Revenue Authority.
Protected Cell Company (PCC)
Some individuals may be looking for a form of added security, without compromising the flexibility of international investment structuring. Such individuals may look towards establishing a Protected Cell Company (or PCC). This Special Purpose Vehicle (or SPV) was introduced in the year 2000, under the Protected Cell Companies Act 1999 of Mauritius. It allows for the lawful separation of assets owned by each cell of the company. This separation in turn, limits liabilities to each cell, for example, in case of bankruptcy of a specific cell, creditors shall utilise the assets of that specific cell, and not of the others within the structure in order to honour its liabilities.
A PCC can be incorporated in Mauritius as a Global Business Company (GBC), and benefit from Double Taxation Avoidance Agreements in force. As stated above, existing foreign and existing Mauritian companies may also apply and convert into PCCs. The creation of a new Cell for a PCC is subject to the approval of the Financial Services Commission (FSC) of Mauritius.
Provision of resident directors
We provide the services of resident directors who are of sufficient calibre, officers, Company Secretary, Registered Agent services and registered office facilities.
We provide dedicated company administration which involves facilitation of banking operations, payment of licence fees to the authorities, application for Tax Residence Certificate, attending to notarisation and legalisation of documents among others. We are involved in the daily operations of the global business licensed companies to demonstrate place of effective management in Mauritius.
We facilitate the conduct of Board meetings and provide the Board of companies with the relevant minutes of meeting. We also undertake relevant filings required under the laws with the authorities.
Provision of nominee shareholders Our wholly owned companies provide nominee shareholding services to companies whenever required
Agent for Service of Process
Our specialist team is able to act as the designated recipient for legal correspondence on behalf of the business entity within the jurisdiction in which it is located.
An increasing number of corporate domiciles now permit in their corporate laws both the inbound and outbound change of corporate domicile. Our global team is experienced in the smooth migration of companies from one jurisdiction to another
More often than not, multiple lender loans are followed with complexities and can be taxing. From tracking cash flows, to communication between borrower and lenders to assure the Loan administration is current. These important, yet time consuming tasks can be more manageable and that is where Loan Administration comes in.
With a facility agent, security agent or collateral agent who acts as the primary point of contact between the transaction parties to a syndicated loan. The agent is chosen to manage the communication between the borrower and the lenders, as well as handle the flow of funds.
Services include sustaining the borrower database; payment and reimbursement accounting; tracing interest repayment; following up with borrowers for interest retrievals; manager fee calculations; and banking operations and reporting activities.