The Mauritius Global Business Company (GBC)
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The GBL (GBC1 and GBC2) company in Mauritius can be created if the following conditions are met: first, a minimum capital of $1 US dollars; second, one shareholder; and third, two directors, all of whom must be natives of Mauritius.
Furthermore, the Financial Services Commission often requires additional evidence proving the company is headquartered in Mauritius, like a corporate bank account. Similar to the Seychelles CSL, the Mauritius GBC can only conduct business with locals after gaining prior approval from the Mauritius FSP. If the local government has obtained a license, for this reason, it is also permissible to offer financial and insurance services.
The Mauritius GBC is considered a resident entity and is thus compelled to pay tax on its foreign earnings in Mauritius, but at a lower rate of 3% compared to 15% for other resident corporations. You’ll avoid paying business taxes in other countries and enjoy exemption from withholding tax on interest and dividends sent from one of the 44 nations that have signed a double tax avoidance contract with Mauritius.
Mauritius GBC enterprises must meet the following substantive requirements to qualify for reduced corporate income tax rates:
- Investment holding firms (excluding intellectual property): $12,000 in minimum local expenses.
- Non-investment holding companies: minimum local expenses of US$15,000 and a minimum of one staff employee in Mauritius (two for organizations with an annual turnover over US$100 million).
- Asset management companies must maintain a minimum of US$30,000 in local expenses and at least one employee in Mauritius; (2 employees are required for organizations with annual revenue between US$100 million and US$500 million).
Best applications for a Mauritius GBC: A GBC is ideal for holding activities and regulated activities requiring a license, such as financial services or re-insurance/insurance.
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