Legal news

Any Person / Company wishing to start a business should register himself accordingly at the Registrar of Business (“registre des societés”) where a Business Registration Number (“numéro d’immatriculation”) will be allocated to him.

Details such as the type(s) of business activities, the address of the propose trade and the expected date of commencement should be submitted thereat.
Entrepreneurs can form a company without having to go through notary services.

An annual registration fee of 2000 Rs is payable to the Registrar of Companies by small private companies (companies with a turnover of less than 30 Million Rs).
Under the Business Registration Act 2002, the company must also register with the Commercial Registry (“ registre du commerce”) to get a business registration card.

Therefore, the company must complete an application form1(downloaded from the Internet: http://www.boimauritius.com).

Summary :

I/ THE BUSINESS LICENSING

II/ THE CORPORATE TAXATION

III/ PERSONAL TAXATION

fichier à telecharger:
100112 – BUSINESS LICENSING AND CORPORATE TAX

Only natural person (« personne physique ») domiciled in France are submitted to the wealth tax.

No matter its nationality, the natural person who has his tax domicile (“domicile fiscal”) in France is submitted to an unlimited fiscal obligation (“obligation fiscale”) and all its possessions (“biens”) whether located in France or in a foreign country, are in the scope of the wealth tax.

Exemptions:

– An International Tax Convention is signed with France for an indebted person (“redevable”) who has possessions in a foreign country;
– Double taxation is avoided by charging (‘”imputation”) the wealth tax payable in France with the wealth tax paid in other countries regarding properties or possession located outside of France; and
– Since August 6th 2008 persons who transfer their domicile in France can be temporarily ONLY taxable regarding their French possessions1, if:

The person had his tax domicile in a foreign country during 5 years before his settlement in France; and The person keeps his tax domicile in France during 6 years after his settlement. Regarding the natural persons domiciled outside of France, they are only taxable for the possessions located in France2. The tax domicile is defined by the article 4 B of the French revenue code.

Summary :

I/ THE SCOPE. (« LE CHAMP D’APPLICATION »)

II/ BASIS OF TAX ASSESSMENT (“ASSIETTE DE L’IMPÔT”) & CALCULATION.

III/ PROFESSIONAL POSSESSIONS (“BIENS PROFESSIONNELS”).

fichier à telecharger:
100128 – The Wealth Tax

The remortgaging (“l’hypothèque rechargeable”) is defined by the article 2422 of the French Civil Code (Ordonnance n° 2006-346, March 23rd of 2006). This legal measure is mandatory.

Definition: The remortgaging is the process of using an existing conventional mortgage (“l’hypothèque conventionnelle”) previously included in the land registry to guarantee a new debt which is not included in the original agreement.
It has to be concluded before a notary and will be published as a remortgaging convention (“convention de rechargement”) with the former conventional mortgage agreement in the land registry (“la conservation des hypothèques”). The publication as marginal notes is made in the land registry where the building is situated. Remortgaging is allowed if there is an existing mortgage agreement, which expressly contains a remortgaging clause. It is also allowed, regarding mortgages contracted before the issue of the Law in 2006, to write an endorsement (“avenant”) afterwards which will have to be published in order to be valid.

The financial law of 2007 has planned an exemption for the property tax and for the registration fees when you change your conventional mortgage into a remortgaging (Loi de finances n° 2006-1666, December 21st of 2006). In order to benefit this exemption the endorsement has to be concluded by a private person and the mortgage must guarantee an obligation contracted by this person.

Summary :

THE ASSIGNMENT OF DEBTS (“DÉLÉGATION DE CRÉANCE”)

1/ REGARDING THE NEW LOAN

2/ REGARDING THE FUTURE LOAN OFFERS

fichier à telecharger:
100107 – THE REMORTGAGING