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Mauritius has positioned itself as one of the most promising international financial centres by offering a stable economic environment, clear regulations, and effective connections worldwide. Over the last ten years, the island state has turned into a favourable territory for foreign entrepreneurs willing to set up efficient structures for cross-border business and investments. The state is famous for having a good legal basis, favourable taxation, and access to the international market through a variety of treaties.
Companies opt for international business through Mauritius due to the favourable investor environment, the simple process of registering the company, and access to the Mauritius Global Business License, which will allow the company to do business around the world using the advantages of local compliance.
This guide will help the reader understand all the steps in registering a Mauritius GBC, including licensing, taxation, compliance requirements, and other key considerations. The registration of a GBC requires taking into account a number of regulatory, taxation, and other factors to ensure sustainable operation.
Regardless of whether you plan to undertake international trade, investments, intellectual property management, or service activities, knowledge of the Global Business Company (GBC) structure will be an important step prior to your market entry into Mauritius.
Global Business Company (GBC) refers to a business organisation in Mauritius used by firms engaging mainly in activities outside the jurisdiction of Mauritius. This type of company acts as a platform for international trade, investment holding, intellectual property, and other services across borders.
This system is regulated through the Financial Services Act, where the Financial Services Commission (FSC) oversees and licenses all companies. The firm must obtain a Mauritius Global Business License to conduct any business within the country’s legal frameworks but in the international market as well.
For foreign investors, the GBC system in Mauritius offers a blend of legitimacy, tax efficiency, and convenience that makes Mauritius one of the most sought-after countries for offshore companies.
The country is located at the crossroads of Africa and Asia, and for any business, it can be used as a portal to access the emerging markets. Its geographical position, which is close to major sea routes, helps it become a strategic location for offshore company incorporation.
This is another advantage of Mauritius because of the presence of democracy, stable governance and a stable economy. This ensures that foreigners can invest in this country without much worry.
The finance industry of Mauritius has been well regulated, with banks, insurance companies and investment firms providing worldwide connections. Mauritius Global Business License provides a basis of credible conduct.
Compliance requirements as stated in the Financial Services Act are well enforced by the Financial Services Commission (FSC). This provides for an efficient and straightforward regulatory framework for registering GBCs in Mauritius.
The Mauritius government has entered into DTAAs with more than 40 countries and provides companies with an opportunity to reduce their tax burden and prevent double taxation. The treaty agreement constitutes one of the strengths of holding and investment firms.
Corporate tax is 15%, with some exceptions providing further reductions. The competitive corporate tax system serves as a stimulus for entrepreneurs wishing to set up efficient international corporations.
A highly educated and multilingual workforce proficient in English and French and also gaining experience in areas such as finance, law, and technology makes Mauritius very attractive to global firms.
It is known that the country regularly features among the top performers on the ease-of-doing-business ratings of the world. In fact, the incorporation procedure of the Global Business Company in Mauritius is quite simple.
Mauritius has advantageous access to the African markets due to regional free trade agreements, while retaining its proximity to Asian countries. Thus, it can be viewed as an optimal location for transnational business services.
There are some international banks operating on the territory of the island with modern digital platforms, trade financing services, and other types of banking activities.
Expanding into the international business arena? Enterslice will assist you in incorporating your Mauritius GBC in a smooth regulatory process.
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The Global Business Company, being a corporate entity located in Mauritius, provides various benefits, which make it an especially desirable form of structure for international entrepreneurs. The features of such a corporation are presented below:
The liability of the shareholders is limited to the capital contributed to the company; thus, personal assets are protected.
The GBC is created for conducting international business activities and is therefore suitable for trading, investments, and offshore incorporation.
The GBC enjoys independent legal status, which is distinct from the shareholders. This allows for confidence and reliability in international dealings.
By becoming resident in Mauritius for tax purposes, GBCs will be able to enjoy favourable tax rates and exemptions, which will make them more competitive globally.
GBCs need to follow certain governance norms prescribed by the Financial Services Commission (FSC). This includes the appointment of local directors and reporting norms.
The country of Mauritius has made numerous double taxation treaties, which help in minimising tax risk by giving the advantage of tax treaties to the GBCs.
Foreign investors are allowed to have up to 100% shareholding in GBCs, thus providing greater flexibility in conducting international business.
Shares, intellectual property, and other assets can be held in a GBC from different countries, which makes it flexible for making international investments.
There is a state-of-the-art banking system in Mauritius that allows GBCs to open accounts in multiple currencies and handle international transactions without any difficulty.
The GBC structure comes with excellent legal protection, and assets held by GBCs will be safe, as Mauritius has very favourable laws for investors.
The Global Business Company in Mauritius is a flexible vehicle that suits a variety of industries and business activities. Due to its flexibility, tax benefits, and global recognition, it is an appropriate choice for any entrepreneur or corporation interested in international expansion. The following list includes the sectors and organisations that could especially benefit from the creation of a GBC:
Mauritius provides a highly competitive corporate tax system of a 15% tax rate, with partial exemptions that may reduce the effective tax rate, lowering it considerably. Thus, Global Business Companies registered in Mauritius are more cost-efficient than in most other countries.
Investors from other countries have the opportunity to hold 100% shareholding of GBCs, making it easier to set up international businesses. The simplified process of incorporating GBCs in Mauritius helps in the process.
Having more than 40 Double Taxation Avoidance Agreements (DTAAs), GBCs have the ability to reduce taxes and avoid double taxation, and this treaty network becomes a considerable asset for holding and investment companies.
The laws of Mauritius afford great protection to assets held through a GBC, making Mauritius an ideal country for asset management and succession planning.
In complying with international standards, Mauritius provides confidentiality to the shareholders and directors of GBCs, which allows them to safeguard their sensitive business information.
Mauritius is home to international banks that offer multi-currency facilities, trade finance, and internet banking facilities, facilitating international business transactions.
The corporate structure of a GBC may vary based on its business model, which may include investment holding, intellectual property management, or cross-border activities.
The Financial Services Act and regulations from the Financial Services Commission (FSC) ensure that GBCs are able to carry out their operations in a transparent and credible regulatory regime.
Mauritius allows free profit and capital repatriation, which ensures that investors can transfer funds across the world without any hassle.
Mauritius has always been rated high on various indices concerning ease-of-doing-business. The company registration procedure in Mauritius is efficient.
Mauritius is internationally renowned as a reputable and reliable financial centre. Such a reputation adds to the confidence of investors and helps with globalisation.
With respect to other offshore jurisdictions, Mauritius is characterised by fewer compliance procedures and, therefore, lower administrative costs for business.
Requirements for forming a Global Business Company in Mauritius include certain legal and compliance standards. These standards are regulated by the Financial Services Commission (FSC). The following are the basic requirements for eligibility:
In order to successfully register Mauritius GBC, an applicant has to prepare several types of documents that have to be submitted to the Financial Services Commission (FSC). Each document plays a certain role in providing the necessary proof of compliance with certain requirements.
The above list of documents will help you to prove that your Global Business Company in Mauritius satisfies all the regulatory requirements, has economic substance and operates transparently internationally.
Establishment of a Global Business Company in Mauritius is a systematic process supervised by the Financial Services Commission (FSC) and the Registrar of Companies. Given below is the comprehensive step-by-step procedure for setting up a global business company in Mauritius:
Determine the type of activities that you wish to conduct internationally, whether it involves investments, trading, consulting services, or intellectual property. This will ensure that it is in line with FSC requirements.
Apply for the registration of the company name from the Registrar of Companies. It should be unique and within the naming conventions of the locality.
Consult an experienced management firm based in Mauritius for incorporating, ensuring compliance, and acting as a link between the regulators and the organisation.
Collect all the necessary documents such as the identity of the shareholders, directors, company constitution, and business plan.
File the application with the FSC along with all the documents and source of funds declarations.
Once approval is received from the FSC, a Mauritius Global Business License is issued to the organisation.
The company will be registered with the Registrar to make it a legal person in Mauritius.
Create a corporate bank account in Mauritius for the conduct of international business transactions and compliance purposes.
Showcase your actual presence in Mauritius through having resident directors, conducting local board meetings and incurring local expenditures.
After completing all the licensing and compliance requirements, the GBC may conduct business across the globe.
The registration process of a Global Business Company (GBC) in Mauritius will normally takes 4 to 8 weeks, presuming that all required documents are complete and accurate. The process starts with the registration of the company at the Registrar of Companies and will be concluded in a few days following the submission of statutory forms and shareholder information.
Next comes the application for the Global Business License to the Financial Services Commission (FSC). The process will normally take several weeks, depending on the complexity of the business structure and completeness of documents.
Other formalities after the registration of the business include appointing resident directors, registering an office and completing compliance documentation. Getting the corporate bank account can take even more time due to thorough due diligence by the bank.
In general, businesses can expect an organised process involving proper planning and submission of the right documents in a timely manner.
Formation of a Global Business Company (GBC) in Mauritius needs cooperation between different regulatory authorities. Every agency has its own responsibilities in relation to compliance, transparency, and efficient conduct of business.
The FSC is the main supervisory agency for GBC. The agency provides a GBC license known as a Mauritius Global Business License and supervises the companies under the Financial Services Act.
This department deals with the incorporation of companies and maintains the register of the company. The GBC should reserve its name and register with the Registrar in order to become a separate entity.
The Mauritius Revenue Authority is responsible for handling tax compliance issues such as corporate tax filing, tax exemptions, and tax treaties. This body makes sure that the GBCs meet the requirements of the tax regime of Mauritius.
The EDB works to attract investment into the country by portraying Mauritius as a financial centre of international significance. It gives direction for the requirement of economic substance and helps companies comply with the country’s national development objectives.
Local and foreign banking institutions in Mauritius help GBCs to maintain corporate accounts, conduct multi-currency transactions, and offer trade finance facilities. These banks are also involved in source of funds verification and anti-money laundering.
Taxation is one of the strongest arguments for an entrepreneur to set up a Global Business Company in Mauritius. The country provides a competitive system of taxation in line with international standards, yet maintaining transparency and compliance.
The rate of corporate tax applicable to GBCs is 15%. Yet, the partial exemption of some types of income (foreign dividends and interest, for instance) may lead to a reduced tax rate of 3%.
The country provides for the possibility of foreign tax credits for income taxed overseas, thus ensuring that double taxation will not apply to the same income.
The country of Mauritius makes use of various Double Taxation Avoidance Agreements (DTAAs) to offer relief measures which help in reducing tax burdens for international companies.
The dividends paid by a GBC are not subject to any withholding taxes in Mauritius. This improves the effectiveness of dividends being paid to investors.
Capital gains earned by the GBCs are exempted from taxes in Mauritius, making the country a suitable destination for investments.
Dividend, interest, and royalty income received from Mauritius are exempted from withholding taxes for non-residents, adding value to its cross-border attractiveness.
There is Value Added Tax (VAT) at 15% on all goods and services used in Mauritius. Nevertheless, most of the international transactions conducted by GBCs fall outside the VAT scope.
Over 40 countries have tax treaties signed by the Government of Mauritius, which provide for low tax rates for cross-border payments and guarantee treaty protection to investors.
For a company to be classified as a tax resident in Mauritius, the company needs to prove that there is effective management and control within the jurisdiction.
Mauritius follows OECD standards for its transfer pricing regulations. GBCs need to ensure that their transactions with related parties are done on an arm’s length basis.
Compliance with the OECD and FATF is ensured as Mauritius follows the international norms, which are based on transparency, anti-money laundering procedures, and compliance with Base Erosion and Profit Shifting (BEPS) initiatives.
Once the GBC has been registered in Mauritius, continuous compliance becomes vital in order to retain its license. The Financial Services Commission (FSC) places heavy obligations on this to ensure transparency and compliance with international standards.
GBCs have to file annual returns before the Registrar of Companies regarding their shareholders’ and directors’ information.
Companies are obliged to produce their financial statements according to the International Financial Reporting Standards (IFRS).
It is compulsory for GBCs to carry out annual audits. Auditors have to examine the financial documents to guarantee correctness and conformity.
The Global Business License of Mauritius should be renewed annually with the FSC together with the compliance paperwork.
The accounting records have to be maintained in Mauritius. The accounting records have to be accurate and must include all transactions and activities.
Meetings of the Board of Directors have to be held in Mauritius, as this reflects proper management on location. Meeting minutes have to be prepared.
The requirement for Economic Substance has to be fulfilled through employment of staff in Mauritius, expenditure in Mauritius and provision of office space.
It is mandatory to have at least one resident director in order to ensure that there is local control and compliance with the FSC regulations.
Taxes are to be filed annually to the Mauritius Revenue Authority (MRA) covering corporate taxes, exemptions and foreign tax credits.
Know Your Customer (KYC) information should be kept up-to-date for the purposes of anti-money laundering requirements.
AML compliance needs to be observed strictly and includes transaction monitoring and reporting of any suspicious activity.
Information regarding the identities of ultimate beneficial owners (UBOs) is required to be kept and made known to the relevant authorities.
The economic substance requirements were put into place in Mauritius as a way of meeting OECD and FATF requirements in order to ensure that businesses incorporated in Mauritius have genuine business activity and are not just shell companies. The economic substance requirements help in maintaining a good reputation as a legitimate international financial centre and avoid tax haven concerns.
Why Introduced
All companies classified as Global Business Companies (GBCs) in Mauritius are required to have substance, especially those that require tax residency and treaty benefits.
The GBCs are required to perform their main business activities in Mauritius, such as investment, consultation, or trading activities.
It is necessary for a company to ensure that it incurs appropriate levels of expenditures in relation to its scale of operations in order to show economic substance.
It is necessary to have suitable local employees to meet substance requirements and conduct day-to-day business.
The GBC should hold regular meetings within Mauritius and have minutes written to prove decision-making within the country.
Decisions of strategic importance need to be made within Mauritius in the presence of resident directors to achieve proper management and control.
The right documentation on the activities undertaken, expenditure incurred, and management should be kept in order to prove the existence of substance.
It is compulsory for a GBC to have a physical office in Mauritius, which will be able to facilitate the operations of the company.
Non-compliance with substance rules may lead to the following consequences:
Although Mauritius is one of the most appealing destinations for foreign companies, entrepreneurs may come across some difficulties while registering for the Global Business Company (GBC). It is important to know about these potential problems in advance in order to facilitate the company’s incorporation.
Getting approval from the Financial Services Commission (FSC) may take time, especially in case of vague applications or lack of proper documents.
Errors in documentation such as shareholders’ information, funds sources, or beneficial owners’ details can cause delays in the registration process.
The choice of structure is crucial, as inappropriate alignment of business operations and GBC requirements can cause compliance problems in the future.
The GBCs have to comply with stringent governance, reporting, and auditing standards. As far as new businesses are concerned, such a compliance cost is extremely cumbersome without professional assistance.
For the opening of a bank account for the company in Mauritius, proper due diligence must be carried out, which will require substantial documentation.
The issue of international taxation agreements and proper utilisation of foreign tax credits may prove difficult for businesses with cross-border operations.
The issue of economic substance, that is, employing local manpower, incurring costs in Mauritius, and conducting board meetings there, among others, may prove problematic for small businesses.
Mauritius consistently amends its legislation so that it is in line with OECD and FATF requirements. It is important for businesses to be up-to-date on changes to avoid any problems with non-compliance.
Delays in the license issuance process may occur if an application is not completed or when regulators require additional clarification.
The establishment of a Global Business Company in Mauritius requires many regulatory processes. Consultants make this process easier and more efficient by providing services in all aspects involved in setting up a company.
They offer legal advice concerning the structure of the GBC in accordance with the Financial Services Act. Thus, it is possible to avoid some mistakes that can lead to legal complications.
Consultants prepare the incorporation documents, information about shareholders and the sources of funds, as well as the documents on beneficial ownership to avoid any mistakes.
Consultants coordinate with the Registrar of Companies to carry out all processes regarding incorporation, from name reservation to the filing of statutory forms.
Expert advice is offered on corporate tax matters, tax credits, and treaties so that companies can optimise their taxation position and comply with regulations.
Management of compliance activities such as reporting, auditing, and economic substance is provided by consultants to alleviate the burden for entrepreneurs.
They take care of the licensing process through FSC (Financial Services Commission), making sure that the Mauritius Global Business License is issued in a timely manner.
They offer services related to governance, such as keeping the statutory registers up to date, holding board meetings and adhering to corporate governance practices.
Bank account consultancy services ensure proper opening of corporate bank accounts in Mauritius through coordination with local banks.
With the ability to monitor regulatory changes, consultants can assist businesses in risk management, penalty avoidance, and upholding their reputation.
Setting up a GBC (Global Business Company) in Mauritius will involve budgeting for both set-up costs and maintenance costs. Although different services and structures attract different costs, the following aspects usually make up the total cost involved:
Charges that can be paid to the Financial Services Commission (FSC) and the Registrar of Companies will usually fall between USD 500 and USD 1,000.
Preparation and filing of documents regarding incorporation, shareholders’ information, and the articles of association cost about USD 1,000-2,000, depending on the complexity involved.
The Mauritius Global Business License requires FSC license fees, which are usually around USD 1,500- 3,000, plus annual fees for renewals.
Renting an office in Mauritius, either by means of a management firm or by leasing, costs approximately USD 500–1,000 yearly.
Annual professional fees for appointing a resident director are estimated to be between USD 1,000–2,000 yearly, based on duties.
Legal experts, consultants, and accountants levy a fee of USD 2,000–5,000 for incorporation and corporate governance.
Yearly audit procedures, accounting statements, and returns cost an additional USD 2,000–4,000.
Costs of establishing and maintaining a corporate banking facility with multi-currency services would be around USD 500 – 1,000 per year.
Cost of renewing Global Business License as well as statutory registrations would come out at about USD 1,500 – 3,000 per year.
In total, the start-up fees required for incorporation of a Mauritius GBC are normally from USD 5,000 to 12,000, while the annual maintenance fees are around USD 4,000- 8,000 per year. Such costs make Mauritius a cost-effective jurisdiction in comparison to other offshore locations, while being well respected worldwide.
The incorporation of a GBC in Mauritius is a well-defined process; however, any mistakes in the registration of the company will cause problems or even the denial of your application. There are several common traps that one should avoid when establishing a GBC:
Choosing a structure that is incompatible with the desired business operations can cause problems with corporate governance and taxation.
Any negligence regarding corporate taxes, foreign tax credits, and treaties might increase your tax liability and prevent you from optimising them.
Any mistakes in the documentation related to your shareholders, sources of funds, and beneficial ownership usually lead to delays at the stage of FSC’s approval.
In order to maintain your tax residence, you have to follow economic substance requirements like employment of local people, spending on local services, and conducting board meetings in Mauritius.
Failing to submit annual returns, conduct audits, and file the necessary documentation could attract sanctions and reputational risks.
Sending wrong or out-of-date information in an application could result in denial and possible legal troubles.
Filing late tax returns, audit documentation, or license renewal paperwork may lead to fines and undermine the firm’s reputation.
There is a chance that your license will be suspended or cancelled if you do not renew the Mauritius Global Business License every year and if you do not meet the criteria set by the FSC.
Mauritius keeps reinforcing itself as one of the preferred destinations for foreign investors. The proactive regulations, openness to transparency, and inclination towards innovation of the country make it a potential centre of global businesses.
Mauritius is witnessing more and more foreign investments, especially in the realms of finance, real estate, and technology. A safe political climate and supportive policies attract global players.
The government of the country is taking steps towards digital transformation and promoting businesses related to financial technologies, online commerce, and the blockchain industry.
Being a link to Africa, the country allows investors to reach emerging markets in Africa. Its geographical position and trade treaties make it a perfect point for expansion.
Innovation in finance, fintech innovations, green finance and sustainable investments are being promoted by the jurisdiction as part of the global trends towards responsible business.
In accordance with OECD and FATF recommendations, the country guarantees tax transparency internationally, thus making the jurisdiction reputable and cooperative.
Industries like renewable energy, ICT, logistics, and professional services have been opening up more and more opportunities for diversification through investment.
Reforms and incentives have been continuously implemented by the Economic Development Board (EDB) to attract international businesses, such as through simplified licensing and economic substance compliance.
Mauritius still stands out among the leading offshore jurisdictions owing to its stable regulatory system, favourable tax system, and geographically advantageous position at the crossroads of Africa, Asia, and Europe. Besides, strict observance of the OECD and FATF standards adds weight to the country’s reputation as an internationally respected financial centre.
Nevertheless, setting up a successful Global Business Company (GBC) demands proper planning on the part of entrepreneurs. They have to make sure their paperwork is right, get the required approvals in time, and adhere to various ongoing responsibilities, including annual reporting, audits, and economic substance requirements. Good corporate governance and effective compliance management are crucial if one wants to keep a good relationship with the Financial Services Commission (FSC) and the Mauritius Revenue Authority (MRA).
Companies that are aware of their obligations from the very beginning will be able to operate efficiently, make use of the double taxation agreements concluded by Mauritius, and grow their business internationally. With some foresight and professional assistance, companies will be able to use Mauritius as their international hub.
Planning on setting up a Global Business Company in Mauritius? Enterslice provides all-round services, ranging from business formation, obtaining Global Business Licenses, tax planning, and financial services and compliance, among others, to make your international expansion easier and more efficient.
A GBC is a corporate entity licensed by the Financial Services Commission (FSC) to operate in the country for carrying out international business through the country, which has the benefit of various incentives, including tax exemptions and other treaties.
Foreign and local investors, individuals, and companies have the freedom to incorporate a Global Business Company if they fulfil the requirements for incorporation, appoint a local director, and meet the requirements laid down by the regulations of the country.
Some of the main benefits of setting up such a company in the country are lower tax rates, no capital gains tax, tax treaties, no dividend withholding tax, excellent regulation, and the location of Mauritius as a gateway to Africa and Asia.
Registration usually takes four to eight weeks, depending upon the accuracy of documentation, approval by relevant authorities, and licensing by FSC and the Registrar of Companies.
Yes, a Global Business License has to be obtained compulsorily from FSC. Otherwise, a company cannot qualify as a GBC or enjoy the tax benefits of Mauritius.
Incorporation documents, list of shareholders and directors, beneficial ownership details, source of funds declaration, company constitution, and KYC documents are essential.
The tax benefits are as follows: 15% tax rate (3% with partial tax exemptions), foreign tax credits, capital gains exemption, no withholding taxes on dividends, and tax treaties to reduce cross-border tax liabilities.
A GBC has to file annual reports, prepare audited accounts, have a valid license, maintain accounting books, hold board meetings in Mauritius, follow substance rules, and update KYC/AML requirements.
Yes, it is possible for a foreigner to own 100% of a GBC. Full foreign ownership is allowed in Mauritius, subject to certain local compliance requirements like having a resident director.
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