Partnerships
A Limited Partnership (LP) can be set up as either a domestic company or with a Global Business License. The General Partners can elect for the LP to have a legal personality distinct from its members during the lifetime of the LP. Common use include: tax/financial planning, joint venture, asset protection, venture capital schemes etc.
- Corporate Tax: 15%. The entity will qualify for an exemption of 80% of the specific foreign-source income or foreign tax credit.
- Access to tax treaty benefits: Yes
- Company Secretary: A company secretary resident in Mauritius must be appointed in case the LP holds a GBC.
- Registered Address: Should be at the office of a licensed Management Company in Mauritius. In case none of the General Partners is resident in Mauritius, the LP must appoint a registered agent in Mauritius.
- Financial Statement: Audited financial statements should be prepared and filed within 6 months after the balance sheet date.
- Tax Return: Advance Payment System statements should be filed by LPs which hold a GBC. Tax is paid quarterly either based on the previous year’s income or income of the current quarter.
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