A Limited Liability Partnership (LLP) is a vehicle designed to bring flexibility in the existing Mauritius corporate sphere. An LLP is significantly more attractive than a company for investment vehicles such as private equity funds and joint ventures and may be set up for a wide range of lawful business activities which may be carried out both within and outside Mauritius.

An LLP can apply for a Global Business Licence in order to take advantage of the tax credit under the network of Double Taxation Avoidance Agreements and Investment Promotion and Protection Agreements that Mauritius has entered into with various countries. In considering such application, the Regulator shall have regard to whether the conduct of business will be or is being managed and controlled from Mauritius.

Characteristics of an LLP:

  • Can elect to have a legal personality upon registration or at a later stage
  • Must have at least one general partner resident in mauritius and one or more limited partners
  • Must have a registered agent in Mauritius
  • Migration from or to another jurisdiction is possible
  • Existence is successive until dissolution
  • Rights of partners are largely determined by the partnership agreement
  • The general partners are jointly and severally liable for the LLP’s debts and obligations and the limited partners are liable up to the amount they have committed to contribute
  • Must prepare financial statements within 6 months of its balance sheet date
  • Auditing of financial statements is optional unless the LLP holds a global business category 1 licence