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Global Business Licence - Category 1 (GBL1)

Mauritius GBC 1 Companies (Offshore) are resident in Mauritius and consequently subject to tax. However, they benefit from both tax credits and a longstop tax rate of 3%. Correctly structured and managed Mauritius GBC 1 companies may access Mauritius’ network of 37 tax treaties. Neither capital gains nor withholding taxes are levied. Consequently, Mauritius GBC I companies are used by tax practitioners and businesses to structure investments into Mauritius’ treaty partners, which include China, India, Luxembourg and Thailand.

Salient features of holders of Category 1 Global Business Licences

Corporate Directors
Not Allowed (However, we may propose an independent director for you)
Dealing with Residents
A GBC1 can also deal with resident subject to the approval of the Financial Services Commission (FSC).
Activities
Can only undertake activities set out in the Business Plan filed with the FSC at the time of application for a licence or as amended and notified to the FSC. As per the licensing conditions, the FSC shall be notified of amendments to the Business Plan or working principle.
Licensing Conditions
Licensing conditions depend on activity.
Submission of financial statements
Submission to FSC of Audited Financial Statements (AFS) required within 6 months of financial year end or 3 months for those holding certain types of financial services activity licence.
Mauritian Resident with beneficial interest
Mauritian resident may hold beneficial interest.
Holding Immovable Property
May hold immovable property in Mauritius if appropriate approval has been obtained.
Holding of shares in another company with a GB licence
May hold shares in a Category 2 Global Business Company except where shareholders or beneficial owners are Mauritian residents
Our time to establish a new company
4 Weeks
Corporate Taxation
Varies from 0% to 3%
Double Taxation Treaty Access
Yes
Minimum number Local Directors
Two (2)

Mauritius GBC 1 Companies are governed by The Companies Act, 2001 and regulated by the Mauritius Financial Services Commission. They are subject to compliance and reporting regimes similar to those of Hong Kong or UK companies.

All companies seeking to benefit from this status are granted licenses on a case by case basis by the regulatory authorities in Mauritius. This procedure demands the submission of a detailed business plan and disclosure of beneficial ownership.

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