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  Global Business:
Category 1 Global Business Company (GBC 1)
 
  A GBC 1 can elect to be qualified as a tax “resident” in Mauritius and thus benefit form the Double Taxation Agreement Network where Mauritius is a member. This offers significant opportunities for international tax planning.

 Key Features
No minimum capital requirement
Can avail of relief under DTAs in force in Mauritius
Allow to employ expatriate staff
May be private or public company
Company may be limited by shares or unlimited or limited life company
Shares may be subscribed by nominees but beneficial owners must be disclosed
At least one shareholder and one resident director (can be a nominee)
Requirement for local registered office
Shares can be issued with or without a par value
Obligation to file annual audited accounts to the authority
Requirements for local resident secretary
Corporate directors are not allowed
Only registered shared are allowed

  Fiscal Incentives
Reduced Corporate tax (3% after allowing for tax credits)
Foreign tax credit available
No withholding taxes on dividends, interests and royalties
No capital gains tax, estate duty or inheritance tax payable
Exemption from exchange controls
Access to major foreign currency accounts

  Tax Residency
 In order to benefit from the Double Taxation Relief, the GBC 1 is required to be tax resident in Mauritius, i.e, its central management and control must be exercised in Mauritius. The applicant company is required to:
Have at least two Mauritian resident board directors (can be nominees)
Appoint a resident secretary and a local auditor
Maintain an account with the Mauritian Offshore banking Unit
Maintain its registered office and all statutory records in Mauritius
Chair all its board meetings from within Mauritius

  Incorporation Procedures
 The following information/documentation is required to complete the application for GBC1:
The name of the proposed company (3 names in order of preference)
The stated capital and par value of shares (if applicable)
The names and addresses of the directors (we can provide two resident directors where required)
Proof of residential address of each director and shareholder (eg. a most recent utility bill not more than 6 months old)
The names and addresses of the shareholders/beneficial owners
The shareholding structure of the proposed company
A track record on each shareholder (Well detailed Curriculum Vitae)
An original bank reference letter on each shareholder/beneficial owners
For corporate shareholder/beneficial owner, a copy of its latest audited accounts, and if available, any promotional material/ brochures produced by the company
A business plan to describe the proposed activities, investments to be made, initial amount and sources of funds to be invested and where possible, the expected performance of the proposed offshore company
Authenticated copies of the passports of each shareholder/beneficial owner and director

Once all the necessary information is available, it normally takes approximately 2 to 3 weeks to establish a GBC 1. Applications are dealt with by the FSC on a first come first serve basis.

Request for our incorporation questionnaire for a GBC 1 here