Global Business License

GBL Companies are governed by the Companies Act 2001 and are regulated by the Financial Services Commission (“FSC”) of Mauritius. GBL Companies are tax resident in Mauritius and may benefit from a Partial Tax Exemption of 80% bringing down the effective tax rate to 3%. They have access to various Double Taxation Avoidance Agreements and Investment Promotion and Protection Agreements signed between Mauritius and other jurisdictions.


KEY CORPORATE FEATURES

  • Tax resident in Mauritius
  • No withholding tax on interests, dividends and royalties
  • No capital gains tax
  • No exchange controls
  • Can be listed on the Stock Exchange of Mauritius
  • Multicurrency Bank Accounts in Mauritius and worldwide
  • Confidentiality guaranteed

TIME FRAME FOR INCORPORATION

  • Approximately 1 month (following submission of all required documentation to the FSC)

APPROVED ACTIVITIES

I) Financial Services Activities

  • Aircraft Financing & Leasing
  • Asset/ Fund Management
  • Consultancy/ Financial Services
  • Pensions Funds
  • Insurance

II) Non-Financial Services Activities

  • Information & Communication Technology Services
  • Logistics & Marketing
  • Operational Headquarters
  • Trading
  • Shipping & Ship Management
  • Licensing & Franchising
  • Other business activities, subject to the FSC approval

KEY REQUIREMENTS

  • Have at least 2 directors, resident in Mauritius
  • Maintain its principal bank account in Mauritius
  • Maintain its accounting records at its registered office in Mauritius
  • Prepare its statutory financial statements and causes such financial statements to be audited in Mauritius
  • Provide for meetings of directors to include at least 2 resident directors

SUBSTANCE REQUIREMENTS

  • Carry out its core income generating activities in, or from, Mauritius by
    1. Employing, either directly or indirectly, a reasonable number of suitably qualified persons to carry out the core activities; and
    2. Incurring a min. level of expenditure which is proportionate to its level of activities
  • Be managed & controlled from Mauritius
  • Be administered by a Management Company

NEW ENHANCED SUBSTANCE REQUIREMENTS

The FSC will assess the issuance of a GBL on a case by case basis and will look at the specific circumstances of each applicant. In doing so, the FSC will refer to the indicative guidelines as set out in the following table:

Category Sub-Category Min. Annual Expenditure (USD) Min. Employment in Mauritius (Direct or Indirect)
Non-Financial Investment Holding (excluding IP rights) 1 12,000 No min. employment specified
Non-Investment Holding 15,000 If annual turnover is:
Less than USD 100m: min. 1
More than USD 100m: min. 2
Financial CIS Manager / Asset Manager 30,000 If assets under management are:
Less than USD 100m: min. 1
Between USD 100m and USD 500m: min. 2
More than USD 500m: min. 3
Institutions2 100,000 If annual turnover is:
Less than USD 50m: min. 1
Between USD 50m and USD 100m: min. 2
More than USD 100m: min. 3
Intermediaries 3 30,000 1
Others 25,000 1


1 GBL holding IP Rights will be required to demonstrate that they have incurred expenditure in Mauritius which is proportionate to the research and development of the relevant IP Rights

2 Insurance, Leasing, Credit Finance

3 Investment Adviser, Insurance Broker, Insurance Agent