These are companies that have a fixed period of life/duration. In some countries they are referred to as companies of limited duration (LDC).
An application may be made to the Registrar for the registration of a company as an LLC: (a) at the time of incorporation of the company; (b) by a company incorporated outside Mauritius when applying for continuation or; (c) by an existing company at any other time after incorporation or registration.
An application for registration as an LLC by an existing company or a company also applying for continuation must be accompanied by either: (a) a certified copy of the relevant extract of the company’s constitution, or (b) a resolution of the company altering its constitution for that purpose, limiting the life of the company to a period not exceeding 50 years from the date of incorporation.
An LLC must have at least two shareholders and cannot be registered unless it has a constitution.
Constitution
Although under the Companies Act 2001, a company does not require a constitution and may have only one shareholder, provisions relating to LLCs still require an LLC to have a constitution and at least two shareholders.
Cessation
A company will automatically cease to be a Limited Life Company if the company passes a resolution to alter its constitution and provide for the period of duration of the company to be extended to more than 150 years from the date of its incorporation.
