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Corporate Registers Forum 2014

Importance of Business Registers for the reduction of informal activities in an economy

D.P.Chinien (Mrs)Mauritius

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Agenda

• Role of Business Registers • National strategy• How to make the business registers more efficient• Impact on way of doing business

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The Mauritian Experience

• Why reforms important for any given economy

• Informal /parallel economy

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Some statistics…• Strategic location of Mauritius• Population of 1.2 m• Poised to be the leader in the region Economic trajectory - Diversification of the economy since late 1990s From mono crop economy to diversified one Improvement in the business environment and increase in

number of businesses created.

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National Objective

Reducing the number of informal businesses through:

National plan and reengineering processes

Review of legislation

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Setting the scene - Role and Importance of a Business Register Focal point to start a business - CBRD Making the office of the Registrar of Companies the depository

for a central database for all businesses Key role of the Government online centre Moving away from role of a regulator to that of a facilitator Establishing linkages with various agencies

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Increasing efficiency of the Business Register

User - friendly approachConducive environment for registering businessesAdopting and adapting best practices

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Facilitating businesses – Putting People first…Through Companies ActBusiness Registration Act - obligation to register if doing businessLimited Partnership ActFoundation ActInsolvency Act

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Corporate and Business Registration Department

Business Registration Act 2002 Companies Act 2001Limited Partnership Act 2011 (Act No 28 of 2011) Foundation Act (Act No 8 of 2012)

Foundations ActAct No 8 of 2012

Companies Act 2001 Business Registration Act 2002

Limited Partnerships Act 2011(Act No 28 of 2011)

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Incentives for the creation of businesses Flexible provisions and new approach in law Small private companies No auditor No financial statements One person companyExemption of fees for an initial period

No charge for payment by credit card up to 800 USDSimple and straight forward application formsOne - time registration

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Using IT…… On line application software providing access of Central Population

Database (CPD) for the validation of National Identity Number Establishing the link with other departments through the Central

Business Registration Database (CBRD) Establishing the interface with public through the MNS Extensive use of IT

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Linkages with Agencies

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INTEGRATED APPROACH ADOPTED TO ATTRACT INVESTORS

Example : PERMIT SYSTEM WITH WEBSERVICE INTEGRATION

• BOARD OF INVESTMENT (MAURITIUS) • PASSPORT & IMMIGRATION OFFICE • MAURITIUS REVENUE AUTHORITY• REGISTRAR OF COMPANIES

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Applicant Application for OP/RP

RoC

RoC

MRA

BOI Officers PIO OfficersVerification & Validation

ChecksAppointment with

applicants

Joint Committee PMO BOI Exe Officer

Subm

it O

nlin

eAp

plic

ation

Inte

rfac

es w

ith R

oC &

MRA

Applicant present in Mauritius

Subm

it fo

r Re

view

Reco

mm

end

For A

ppro

val

Appr

ove/

Reje

ct

Perm

it

Web Services

RegistrationCertificate

MRA

Web Services

PIOExport Permit

Details

Issue Permit Online

Permit Process Workflow

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Benefits

• Seamless integration among various Government Agencies• Independent of any solution technology• Improve business agility & reusability• Reduce cost• Rapid deployment

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As at 30/09/2006 As at 11/03/2014

No of Companies registered 34377 70656Individual Businesses 0 136655Limited Partnership 0 25Foundation 0 100

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Conclusion Leading the way

…………………… in business registration