Mauritius (MU)

Jurisdiction Overview

IDQuestionAnswer
471 *BO Record: Does the registration of domestic companies comprise beneficial owner's identity information? No. Companies available without recorded beneficial ownership information.
 Data Date: 2017

Notes

 
Mauritius has amended section 91 of the Companies Act in 2017, 2018 and 2019 to introduce changes about beneficial ownership. However, it appears that only beneficial owners of shareholders owned by nominee persons (but not by corporate shareholders) would have to be registered.
 
Specifically, the consolidated and updated sectio 91 states: "3A(c). The information referred to in subsection (3)(a)(ii) shall be lodged with the Registrar within 14 days from the date on which any entry or alteration is made in the shareregister". However, subsection (3)(a)(ii) states "where the shares are held by a nominee, the names in alphabetical order and the last known addresses of the persons the beneficial owners or the ultimate beneficial owners giving to the shareholder instructions to exercise a right in relation to a share either directly or through the agency of one or more persons".
 
This interpreation, that apparently registration of beneficial ownership refers to nominees, is confirmed by the ESAAMLG 2019: "The Companies Act was amended in July 2017 to provide in Section 91(3)(a)(ii) that share registers maintained by companies shall state where the shares are held by a nominee, the names of the beneficial owners or ultimate beneficial owners. [...] Where a partner is a nominee, the name of his of its beneficial owner or ultimate beneficial owner shall be disclosed in the register of partners. (ESAAMLG 2019: 26). This interpretation is also shared by the law firm Sanne Group: "We are in discussion with the authorities as to whether the information should be disclosed to the ROC only in case there is a nominee shareholder arrangement or in all circumstances." (Sannegroup.com).

Sources

http://companies.govmu.org/English/Legislation/Documents/amended%20acts290819/Companies%20Act%202001%20amended%20up%20to%20date%20(2).pdf
 
https://www.sannegroup.com/news-and-events/insights/2019/08/changes-brought-by-the-finance-miscellaneous-provisions-act-2019-mauritius/