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Global Business

Overview of Global Business Companies

All Global Business Companies are governed by the Companies Act 2001 and the Financial Services Act 2007.

Global Business Activities are regulated by the Financial Services Commission.

There are two types of Global Business Companies available, namely:
  • Companies holding a Category 1 Global Business Licence ("GBL1") and 
  • Companies holding a Category 2 Global Business Licence ("GBL2").

The GBL1 Company is tax resident in Mauritius and is generally set up to avail of the benefits of the various double taxation treaties signed by Mauritius whereas  the GBL2 Company is a tax exempt entity in Mauritius and is typically used where no tax treaty benefits are sought.

Both entities are given the highest degree of confidentiality under Mauritius law and no information regarding their shareholding, their accounts, or their activities are publicly accessible.

A GBL1 company may be set up to carry out any Global Business activity on condition that the activity is not unlawful or contrary to public interest and does not cause prejudice to the good repute of Mauritius as a centre for financial services.

Brief summary of characteristics of a GBL1 and GBL2 company

 
 
 
Category 1 Global Business Licence ("GBL1") Category 2 Global Business Licence ("GBL2")
STATUTORY:    
Registered Office Yes in Mauritius Yes in Mauritius
Minimum number of members on incorporation 1
 
1
 
Corporate Shareholder Allowed Allowed
Minimum Capital requirement None
 
None
 
Minimum number of shares issued 1
 
1
 
No par Value Shares Allowed Allowed
Minimum number of Directors 2 (for tax residency purposes) 1
 
Corporate Directorship Not Allowed Allowed
Resident Company Secretary Yes
 
Optional
 
Registered Agent No Yes
Annual Meeting Yes Optional
Filing of Audited Accounts to FSC Yes
 
No
 
Filing of Management Accounts to FSC [non audited] N/A

 
Yes

 
     
FORMATION:    
Incorporation & application for licence
 
 
5 to 10 business days as from the submission of all KYC documents
 
2 to 3 business days as from the submission of all KYC documents
 
KYC requirements
 
Yes on beneficial owner(s), shareholder(s), director(s), bank account signatories and contact person(s)
Business plan Yes Yes
     
TAXATION:    
Access to Double Taxation Treaties Yes
 
No
 
Tax Residence Certificate (TRC) Yes
 
No
 
Corporate Tax
 
 
 
15% on chargeable income less foreign tax credits. Maximum effective tax rate is 3% Exempt
 
 
 
Annual Tax Return Yes No
Capital Gains[excluding immovable properties] Nil
 
Nil
 
Tax sparing relief Yes under domestic law No
Inheritance tax Nil Nil
Withholding tax on distributions to non resident shareholders Nil
 
 
Nil
 
 
Global Business
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