GBL Company

GBL Company

Mauritius GBC1s are companies incorporated under the Companies Act 2001 and licensed by the Mauritius Financial Services Commission.


General Features

  • Relevant laws: The Companies Act 2001, The Financial Intelligence and Anti-Money Laundering Act 2003 & The Financial Services Act 2007
  • Tax resident in Mauritius and can avail of the benefits of double taxation treaties signed with Mauritius
  • Can only undertake activities set out in the Business Plan
  • Conduct of Business must be outside Mauritius
  • Individual, local resident Directors – minimum number 2
  • Resident Company Secretary required
  • Minimum number of shareholder is one
  • Details of shareholders not publicly accessible
  • Different classes of shares and rights available
  • Par or no par value shares
  • Distributions subject to solvency test
  • Accounting records to be maintained in Mauritius
  • Preparation of Accounts in Mauritius, to internationally recognised standards – not publicly available.


Other Features of the GBC1

They are resident of Mauritius for taxation purposes and have access to Mauritius’ double taxation avoidance treaty network with more than 30 countries provided they hold a Tax Residence Certificate issued by the Mauritius Revenue Authority. To obtain the GBC1 Licence, it will have to satisfy the following factors:

  • Shall have at least 2 resident directors in Mauritius
  • Shall always maintain its principal bank account in Mauritius
  • Shall keep and maintain at all times, its accounting records at its registered office in Mauritius
  • Prepare its statutory financial statements to be audited in Mauritius
  • Provides for all meetings of directors to include at least 2 directors from Mauritius.


Features of the GBC 1

  • Business Activity

A GBC1 can carry any business activity such as banking, insurance, reinsurance, fund administration amongst others but it should be one permitted by the laws of Mauritius. A GBC1 company can be either a private or public company limited by shares.


  • Fiscal Advantage
  1. Mauritius are taxed on foreign income at 15% less a generous deemed foreign tax credit of 12% or 15% less actual foreign tax paid so that a GBC 1 will pay a net effective tax of 3% only.
  2. No Mauritian capital gains tax or withholding tax


  • Tax exemptions and concessions
  1. The Category 1 Global Business Company (GBC1) is tax resident of Mauritius and is therefore liable to tax in Mauritius but at the same time enjoy the Double Tax Treaties that Mauritius has ratified with a number of countries.
  2. Interests paid on deposits in Banks are tax exempt
  3. Dividends and royalties to non-residents by a GBC1 are tax exempt


New Substance Requirement

The FSC issued a communiqué on amendments made to the Guide to Global Business on 04 September 2013 which aim at enhancing the economic and physical substance of companies holding a GBC1 in Mauritius. The following additional conditions have been introduced and companies holding GBC 1 are required to comply with at least one of them as from 01 January 2015:


Office premises to be available in Mauritius

  1. Mauritian resident employees of an administrative or technical level to be employed on a full time basis;
  2. The constitutive documents/partnership agreements to contain a clause whereby all disputes arising out of the constitution shall be resolved by way of arbitration in Mauritius;
  3. The Fund to have Mauritian based assets of at least US$ 100,000;
  4. The units of the Fund are listed on a Securities Exchange licensed by the FSC;
  5. The yearly expenditure of the Fund in Mauritius to be of the same level as a similar corporation which is controlled and managed from Mauritius.