The Mauritian Global Business Sector has undergone key transformations following the National Budget 2018-2019 and recommendations made by the OECD, in line with the OECD’s BEPS initiatives.

Subject to grand fathering/transitional period, the ‘GBC1’ is now known as a Global Business Licence (GBL). The Category 2 Global Business License (“GBC2”) structure has phased out with the introduction of the Authorised Company regime.

Consequently, the two types of offshore licences offered by Mauritius are the Global Business Licence (GBL) and the Authorised Company Licence (AC) for resident corporations proposing to conduct business outside of Mauritius.

Global Business Company (GBL)

A GBL can either be a private or public company limited by shares which can carry out any business activity such as asset management, credit finance, custodian services (non-CIS), distribution of financial products, factoring, leasing, occupational pension schemes, pension fund administration, pension scheme management, retirement benefits schemes, superannuation funds, registrar and transfer agencies, treasury management and such other financial business activities as may be specified by the Financial Services Commission (FSC), the non-banking financial activities regulator. A GBL can be structured as a Collective Investment Scheme, Global Fund, Protected Cell Company or an investment holding company. A Trust can also qualify for a GBL

A GBL is considered to be a tax resident in Mauritius and enjoys benefits under the extensive DTA network of Mauritius. Income is taxable at a maximum effective rate of 15% but may avail a partial tax credit on foreign source specified income whereby the effective tax rate is 3% and if they are correctly structured and managed may access Mauritius’ tax treaty network. It is generally used when overseas income is predominantly in the form of dividends, royalties, interest and capital gains and when DTA benefits are needed.

GBL also offers investors the following advantages:

  • Operate from Mauritius by having a physical office in Mauritius and employing people from Mauritius.
  • Buy property for business purposes in Mauritius and is eligible to buy properties under the the Integrated Resort Scheme/Real Estate Scheme, Property Development Scheme or Smart City Scheme.
  • Shareholders, directors and employees of the GBC who are non-citizens of Mauritius, may apply for occupation and residence permits to work and live in Mauritius.’
  • No withholding tax on dividends, interest and royalties paid
  • No capital gains tax
  • Free repatriation of profits, capital and interest
  • No estate duty, inheritance, wealth or gift tax
  • Protection of assets

The GBL may conduct business in Mauritius provided that the majority of its transactions is done outside of Mauritius and should be held or controlled by a person who is not a citizen of Mauritius.

Authorised Company (AC)

ACs are a tax exempt and are flexible business entities that is regularly utilised for international investment holding, international property holding, international trade and international management consultancy.

The place of effective management (POEM) of an AC must be outside of Mauritius. The activity of the company must be conducted principally outside of Mauritius and must be controlled by a majority of shareholders with beneficial interest who are not citizens of Mauritius. Details on the beneficial ownership should be disclosed to the authorities. ACs cannot trade in Mauritius.

Benefits available to ACs are:

  • Cost effective
  • Zero tax in Mauritius – ACs are not resident for tax purposes and therefore do not have access to Mauritius’ tax treaty network.
  • No foreign exchange controls
  • Operational flexibility

ACs’ are not allowed to perform the following activities as per the fourth schedule of the Financial Services Act 2007:

  • banking including financial services;
  • managing or dealing with a Collective Investment Scheme
  • trusteeship services
  • providing registered office facilities or nominee, directorship and secretarial services or other services to corporation

GBL and AC compared

Entity type
Authorised company
Global Business Corporation
Type of law
Minimum fees
Licence processing fees (one-off): USD 150
Incorporation fees (one-off): USD 100
Annual FSC fees: USD 350
Annual ROC fees: USD 100
Licence processing fees (one-off): USD 500
Incorporation fees (one-off): USD 125
Annual FSC fees: USD 1,950
Annual ROC fees: USD 325
Corporate taxation
No corporate tax if place of effective management is outside Mauritius
15% but may avail itself of partial exemption of 80% on certain income/activities if substance requirements are met
Place of effective Management
Control and management outside of Mauritius
In Mauritius
Access to double taxation treaty
Not mandatory but recommended
Any except MUR
Any except MUR
Minimum paid up
Minimum required
1 (can be foreigner or local)
2 resident directors
Corporate director
Not Allowed
Minimum required
Local Required
Corporate shareholder
Minimum required
No – company secretary is optional
1 – company secretary is mandatory
Local required
Yes – local and qualified
In Mauritius
In Mauritius
Requirement to file accounts
Yes – financial summary with FSC
Yes – Audited financial statements with FSC
Filing of accounts
Within six months of balance sheet date
Within six months of balance sheet date
Audit requirement
Other filings
Annual tax return with the MRA – not taxable in Mauritius but annual tax return should be filed
Annual tax return with the MRA
Change in domicile
Immovable property
May not hold immovable property in Mauritius
May lease, hold, acquire or dispose of immovable property or any interest in immovable property situated in Mauritius
Bank accounts
Not compulsory to open a bank account in Mauritius
Bank account in MUR cannot be opened
Yes – principal bank account in Mauritius
MUR bank account may be opened
Location of meetings
Outside of Mauritius
Company records
At registered office in Mauritius
At registered office in Mauritius

Both GBL and  AC offers the highest degree of confidentiality and the choice between the two types will depend on a number of factors including the proposed activities of the company and the geographical area of operation.

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