Global Business Company, Category 2 (Private company limited by shares)
Mauritius is a politically stable jurisdiction and the largest international financial and business hub in the Indian Ocean region with a strong liberal economy, a reputable banking system and a wide offer of qualified professional services.
Its pro-business and flexible regulatory framework provides reliability and security for the incorporation of international companies.
Under the Companies Act, 2001 and the Financial Service Act 2007, companies may apply for a Global Business License (GBL) that allows them to carry out Business outside the jurisdiction and benefit from an advantageous tax regime.
Companies holding the Global Business License Category II (GBC2, also known as GBL2) are entitled to do business internationally, and may have restrictions to conduct business with persons resident in Mauritius, conduct any dealings in Mauritius currency, own interest in real property within the jurisdiction, have as beneficial owner any person resident in Mauritius and hold shares or debentures or any interests in a domestic company.
However, they may open and maintain bank accounts in the country.
A GBC2 may not carry out banking, insurance, assurance, reinsurance, fund management, collective investment schemes, trust management, trusteeship business provision. It is also not allowed to raise capital from the public.
They may be incorporated with as little as $1 of paid up capital, and shares may be issued with or without par value and fractional.
One shareholder and one director required, who may be non-residents, corporation or individuals, and may be the same person. Appointment of secretary is optional and annual general meeting can be held anywhere.
A category 2 Global Business Company is considered Non-resident for tax purposes and therefore is not subject to any form of taxes and duties in Mauritius and does not have access to double taxation treaties.
GBC2s also benefit from confidentiality and minimal reporting requirements. Details of shareholders, directors and beneficial owners are not available to the public. No tax and annual returns, but GBC2s must prepare and file a company’s financial summary to the Financial Services Commission of Mauritius, which is not accessible to the public. Audits are not required.
The registration process is simple and straightforward as it may take about 3 to 4 days to complete.
Mauritius is a non-Black-listed jurisdiction, as it has agreed to implement the OECD’s automatic exchange of information for tax purposes (AEoI) by 2018 and is not considered as a non-cooperative country and territory by the Financial Action Task Force. Mauritius has also concluded Tax information exchange agreements (TIEa) with 8 jurisdictions.
GBC2s are excellent vehicles for holding and managing private assets. In addition to international trade, investment holdings, e-commerce, intellectual property management, custody of movable and immovable property and professional services.
Country code – MU
Legal Basis – Mixed (Civil and Common law)
Legal framework – The Companies Act 2001, Financial Services Act 2007 and the Finance (Miscellaneous Provisions) Act 2012
Company form – Global Business Company, Category 2 (Private company limited by shares)
Liability - The liability of the shareholders for the company is limited to the amount of their respective shareholdings.
Business restrictions – A GBC2 may have restrictions to conduct business with persons resident in Mauritius, conduct any dealings in Mauritius currency, own interest in real property within the jurisdiction, have as beneficial owner any person resident in Mauritius and hold shares or debentures or any interests in a domestic company.
Share capital – There is no minimum stated capital requirement. Shares may be denominated in any currency, except MUR. Shares may be of par value or no par value, and must be fully paid up. Bearer shares are not permitted, but fractional shares may be issued.
Shareholders – GCB2 may be formed by a minimum of one shareholder and a maximum of 25, who can be either natural or legal persons and may be non-residents. Details of shareholders are not publicly disclosed. The use of nominee shareholders is permitted.
Directors – At least one director is required, who may be a natural person or a legal entity. Directors’ details are not available to the public.
Secretary – The appointment of officers such as a secretary is optional, and may be an individual or a corporation, resident or non-resident.
Registered Address – GBC2 must have a registered office in Mauritius, provided by an authorized registered agent.
General Meeting – GBC2 must hold an annual general meeting of its shareholders, which can be held anywhere. The first annual shareholder meeting should be held not later than 18 months from incorporation. Annual shareholder meetings should be held not later than 6 months after the balance sheet date of the company and not later than 15 months after the previous annual meeting.
Electronic Signature – Permitted.
Re-domiciliation – Permitted.
Compliance – GBC2 must keep accounting records, which may be kept anywhere and in any currency. GBC2 must prepare and file a company’s financial summary to the Financial Services Commission of Mauritius. The financial summary is not accessible to the public. GCB2 are not required to appoint an auditor and file audited accounts.
GBC2 are required to pay an annual license fee as well as a one‐off processing fee to the FSC. An annual fee payable to the Registrar of Companies may also apply.
- Shareholders not disclosed
- Directors not disclosed
- Corporate shareholders permitted
- Corporate directors permitted
- Local director required
- Secretary required
- Local secretary required
- Annual general meetings required
- Redomiciliation permitted
- Electronic signature
- Annual return
- Audited accounts
- Audited accounts exemption
- Exchange controls
- Mixed (Civil and Common) Legal basis
- 1 Minimum shareholders
- 1 Minimum directors
- USD 1 Minimum issued capital
- - Minimum paid up capital
- USDAny Capital currency
- Anywhere Location of annual general meeting
- 2018 AEOI
Corporate income tax – GBC2 companies are considered non-resident for tax purposes and therefore not subject to any form of taxes. All trading income, investment income, capital gains, compensations, rents and royalties derived from outside of Mauritius are exempted from taxation.
Other taxes – In Mauritius there is no capital gains tax, real property tax, inheritance tax or estate duty, capital transfer tax, gifts tax or wealth tax. The main tax on resident individuals is income tax at a 15% rate. To be a tax resident an individual must spend more than 6 months in the country in a year.
There is VAT at 15% levied on the supply of goods and provision of services.
- Offshore Income Tax Exemption
- Offshore capital gains tax exemption
- Offshore dividends tax exemption
- CFC Rules
- Thin Capitalisation Rules
- Patent Box
- Tax Incentives & Credits
- Property Tax
- Wealth tax
- Estate inheritance tax
- Transfer tax
- Capital duties
- 0% Offshore Income Tax Rate
- 0% Capital Gains Tax Rate
- 0% Dividends Received
- 0% Dividends Withholding Tax Rate
- 0% Interests Withholding Tax Rate
- 0% Royalties Withholding Tax Rate
- 0 Losses carryback (years)
- 0 Losses carryforward (years)
- 15% Personal Income Tax Rate
- 56 Tax Treaties
The Republic of Mauritius is a sovereign island country located in the southwest of the Indian Ocean, about 900 kilometers from Toamasina, a town on the easternmost coast of Madagascar and approximately 3800 kilometers southwest of Cape Comorin on the southern tip from India.
In addition to the island of Mauritius, the republic includes the islands St. Brandon, Rodrigues and the Agalega Islands. Mauritius forms part of the Mascarene Islands, along with the French island of Reunion, about 170 kilometers to the southwest.
Mauritius is inhabited by about 1.4 million people. Its capital and most populated locality is Port Louis.
The people of Mauritius are multiethnic, multi-religious, multicultural and multilingual. The Mauritian Creole, French, English and Bhojpuri are its vernacular languages, plus other 9 languages spoken in the territory.
Its official currency is the Mauritian rupee (MUR).
Mauritius is highly ranked for democracy and for economic and political freedom.
The Head of State of Mauritius is the President, who is elected for a period of five years by the National Assembly, the Mauritian unicameral parliament.
The National Assembly has 62 members elected by direct and popular suffrage and comprises between 4 and 8 members elected by minorities representing ethnic minorities, depending on the election results. The government is headed by the prime minister and a council of ministers.
Since its independence from the British in 1968, Mauritius has seen a dazzling evolution.
The island went from being a low-income country with per capita income, in which the economy was based on agriculture, to be a country with the status of an emerging and constantly developing country with intermediate incomes and a diversified economy based on a growing industrial, financial and tourism sector.
During this period of economic growth, the country grew at a rate of 5 to 6% per year. This result translates into a significant improvement in the quality of life and a significant increase in life expectancy, a decline in infant mortality and a great infrastructural development.
Regarding the primary sector, sugar cane accounts for 90% of crops and accounts for 25% of exports. Livestock in Mauritius mainly comprises porcine and caprine, and fishing is also an important source of income.
Its main industrial sectors are the textile, information and communications technology and seafood processing, as well as petrochemical and chemical industry in Port Louis.
Tourism is its more prominent sector and a significant source of its foreign exchange revenues. Mauritius is a growing tourism destination for its natural beauty and man-made attractions, multi-ethnic and cultural diversity of the population, tropical climate, beautiful beaches and water sports.
The issuance of stamps for collection is also a source of income.
The financial sector is a major economic pillar on Mauritius economy, with more than 10,000 offshore companies incorporated and a broad offer banking, insurance and reinsurance services, captive insurance managers, trading companies, ship owners or managers, fund managers and international corporation services.
Tax treaties Map
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