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
TIME FRAME FOR INCORPORATION
APPROVED ACTIVITIES
I) Financial Services Activities
II) Non-Financial Services Activities
KEY REQUIREMENTS
SUBSTANCE REQUIREMENTS
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