Mauritius client case studies

Global expansion for successful financial consultant


Case studies for Mauritius business servicesOur Client, Bill King is a British citizen living and working in London, UK. He has many years of experience in the financial sector, and for many years has been a senior consultant to a large financial advisory firm in the UK. Our Client wanted to expand on the success of his investment strategies business by offering his skills to a new Client base in Asia. He also wanted a corporate vehicle through which he could develop financial e-Products that he could offer over the Internet.

Engagement planning

Bill contacted Healy Consultants Group PLC, having found our website during a Google search. Our global expertise appeared to meet his requirements, and we initiated an e-mail dialogue and convened a phone discussion with him to better understand his business objectives, and then recommend a strategy. Following a comparison of the different corporate structures available, it was decided that a Mauritius GBC2 (Global Business Category 2) company, supported by a corporate bank account with HSBC Hong Kong, would be the optimum structure to fulfil his requirements.

Company incorporation

The first step in the incorporation phase was for Healy Consultants Group PLC’s local agent to check whether Bill’s preferred company name was available for incorporation at the Mauritius Registrar of Companies (ROC) in Port Louis, and to reserve the name once this had been confirmed.

Our Mauritius local agent then completed a ROC incorporation application on behalf of the Client, identifying directors and shareholders and the registered office address in Mauritius. In accordance with the Mauritius Offshore Companies Act 1990, a Mauritius company also requires a Mauritius company secretary, and Healy Consultants Group PLC’s local agent agreed to act in this capacity. Our local agent also prepared other pre-incorporation documents for Bill’s signature, and Healy Consultants Group PLC couriered them to London for Bill’s signature. Once complete, these were couriered to our Mauritius local agent’s office, who then visited the ROC offices to submit the application documents and pay the statutory government registration fee of US$350 to complete incorporation.

Corporate banking

Our Mauritius local agent couriered the company kit to our Singapore office ten days after incorporation, during which time our Banking Team prepared the HSBC Hong Kong corporate bank account application.

Since our Client was based in the UK, it was inconvenient for him to visit Hong Kong just to attend a bank interview. As such, we sent Bill the HSBC Hong Kong bank account application forms and asked him to sign them in the presence of an HSBC officer at his local branch in London.

Thanks to Bill’s cooperation, we receive the signed and witnessed forms within one week of them leaving our Singapore office, and our Banking Team immediately sent this, along with the corporate documents for the Mauritius company, a business plan detailing the activities of the company, and due diligence on bank signatories, as required by HSBC Hong Kong.

Two days later Tammy, our Hong Kong officer, visited the HSBC branch in Hong Kong to submit the application, attend an interview to explain the company’s activities and why it required an HSBC Hong Kong corporate bank account, and pay in the US$2,000 minimum deposit, as per bank policy. Tammy then e-mailed a scanned copy of the deposit slip to Bill as proof that the deposit had been paid.

The bank account application requested Internet banking facilities, a corporate credit card, an ATM card and cheque book. These products were delivered to our Hong Kong office in sealed envelopes over the course of the following three weeks, and we forwarded them to Bill in the UK as soon as they were delivered. In addition, our Hong Kong office received Internet banking PIN numbers in sealed envelopes, and were also forwarded to Bill, enabling them to begin online transactions.

For ongoing support to Bill’s company, we allow him to use our Singapore address on his correspondence and invoices as part of our Dormant Virtual Office service.

Disclaimer: Healy Consultants Group PLC neither has an office nor staff in Mauritius nor is it licenced as a management company under Section 77(1) of the Financial Services Act of 2007 or in any other way by the Financial Services Commission.

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client relationship officer - Simon