GBC Mauritius Company
Please Note that the recent budget brought a number of changes to the GBC2 type entity which will take effect over the next year or so. Please contact us for more details.
Overview of GBC2 type companies
A company holding a Category 2 Global Business Licence is often used for trading and investment. GBC 2 companies are not resident for tax purposes and do not have access to Mauritius’ tax treaty network. Beneficial ownership is disclosed to the authorities.
General Information
A company holding a Category 2 Global Business Licence is often used for trading and investment. GBC 2 companies are not resident for tax purposes and do not have access to Mauritius' tax treaty network. Beneficial ownership is not disclosed to the authorities.
| At a Glance | |
| Type of entity | GBC II |
| Type of law | Hybrid |
| Our time to establish a new company | 3 days |
| Minimum government fees (excluding taxation) | US$235 to FSC and US$65 to ROC |
| Corporate Taxation | Nil |
| Double taxation treaty access | No |
| Share Capital or Equivalent | |
| Standard currency | US$ |
| Permitted currencies | Any except Rs |
| Minimum paid up | US$1 |
| Usual authorised | US$100,000 |
| Directors or Managers | |
| Minimum number | 1 |
| Local required | No |
| Location of meetings | Anywhere |
| Members | |
| Minimum number | One |
| Publicly accessible records | No |
| Location of meetings | Anywhere |
| Company Secretary | |
| Required | Optional |
| Local or qualified | No |
| Accounts | |
| Requirement to prepare | Yes |
| Audit requirements | No |
| Requirement to file accounts | Yes |
| Publicly accessible accounts | No |
| Other | |
| Requirement to file annual return | No |
| Change in domicile permitted | Yes |
General Information About GBC 2 Type Companies
Principal Corporate Legislation
The Companies Act 2001.
Financial Services Act 2007.
Finance (Miscellaneous Provisions) Act 2012.
Type of Company for International Trade and Investment
A Company holding a Category 2 Global Business Licence which is similar to a British Virgin Island International Business Company and is non-resident for tax purposes.
Procedure to Incorporate
Submission of the Constitution together with a Certificate from the Registered Agent confirming compliance with the Ordinance. The application must be supported by a Legal Certificate issued by a local Lawyer certifying that local requirements have been complied with. Finally, directors and shareholders must execute consent forms and these must be filed with the Registrar of Companies.
Restrictions on Trading
Companies holding a Category 2 Global Business Licence cannot trade within the Republic of Mauritius.
Powers of Company
A company incorporated in the Republic of Mauritius has the same powers as a natural person.
Language of Legislation and Corporate Documents
The legislation is in English; the documentation may be expressed in any language but must be accompanied by a certified English translation.
Name Restrictions
Any name that is identical or similar to an existing company or any name that suggests the patronage of the President or the Government of Mauritius.
Language of Name
English or French.
Names Requiring Consent or a Licence
The following names or their derivatives: assurance, bank, building society, Chamber of Commerce, chartered, co-operative, government, imperial, insurance, municipal, royal, state or trust or any name which in the opinion of the Registrar suggests the patronage of the President or the Government of Mauritius.
Suffixes to Denote Limited Liability
Limited, Corporation, Incorporated, Public Limited Company, Société Anonyme, Société Anonyme à Responsabilité Limitée, Sociedad Anónima, Berhad, Proprietary, Naamloze Vennootschap, Besloten Vennootschap, Aktiengesellschaft or the relevant abbreviations.
Disclosure of Beneficial Ownership to Authorities
Yes.
Usual Authorised Share Capital
The usual authorised share capital is US$ 100,000 with all of the shares having a par value.
Classes of Shares Permitted
Registered shares, preference shares, redeemable shares and shares with or without voting rights.
Taxation
A Company holding a Category 2 Global Business Licence does not pay any tax on its world-wide profits to the Republic of Mauritius.
Licence Fees
A fee of US$ 100 is payable on incorporation as licence processing fees. An Annual Licence Fees of US$ 235 to the FSC payable by the 30th of June of every year together with US$65 to the Registrar of Companies.
Financial Statement Requirements
Companies holding a Category 2 Global Business Licence are required to maintain financial statements to reflect their financial position. Annual Accounts must be filed with the authorities within six months of the balance sheet date.
Directors
Minimum one, who may be natural person or a body corporate.
Company Secretary
Optional.
Shareholders
The minimum number of shareholders is one. Any change in the beneficial ownership/ ultimate beneficial ownership must be notified to the Financial Services Commission in Mauritius within one mont