Mauritius (MU)

Jurisdiction Overview

388 *Can a senior manager ever be registered as a beneficial owner (because no individual passed the threshold to be considered a beneficial owner)? Yes, a senior manager may be registered as a beneficial owner, making it impossible to distinguish him/her from a real beneficial owner.
 Data Date: 2019


New section 91.8 of the Companies Act: "(8) “beneficial owner” or “ultimate beneficial owner” –(a) means any natural person who ultimately owns or controls a company or the natural person onwhose behalf a transaction or activity is being conducted in relation to a company;(b) includes –(i) the natural person who ultimately owns or controls a company through –(A) direct or indirect ownership of such shares in such percentage as may be prescribed;(B) voting rights;(C) ownership interest; or(D) control by other means;(ii)where no natural person under paragraph (i) is identified, or if there is any doubt that the personidentified is the beneficial owner, the natural person who controls the company in the manner onecompany controls another company under section 5;(iii) where no person under paragraphs (i) and (ii) is identified, the natural person who acts as executivedirector or has equivalent executive powers;".