Mauritius: Law of Offshore
Limited Liability Partnerships Act 2011
In a move to enhance the attractiveness of Mauritius, the "LPA Act" came into force on December 15, 2011 and largely follows the principles of English law.
Requirements for limited partnerships are more flexible than those for Global Business Companies, and offer an alternative structure for private equity funds and joint ventures.
The main points to note for the LPA are:
Simplified formation process;
Option to have a separate legal personality;
If none of the registered partners is resident in Mauritius, a registered resident agent may be appointed;
No legal requirement for audited balance sheets (unless specified in the partnership agreement);
To take advantage of double tax treaties, the partnership must obtain a Category 1 Global Business Licence.