As from 1 January 2019, the Category 1 Global Business Company (GBC 1) is known as the Global Business Company (GBC) and the Mauritius Financial Services Commission (FSC) no longer issues the Category 2 Global Business Licence . There is now a new type of entity known as the Authorised Company (AC).
Companies that have been licensed as a GBC1 or GBC2 prior to 16 October 2017 have been grandfathered until 30 June 2021.
Both the GBC and the AC offer the highest degree of confidentiality and the choice between the two types will depend on a number of factors including the proposed activities of the company and the geographical area of operation. The GBC and the AC can undertake a wide range of activities ranging from investment holding (SPVs) to trading.
The GBC is resident for tax purposes in Mauritius and can thus avail itself of the benefits of the double taxation treaties signed by Mauritius. The GBC may conduct business in Mauritius provided that the majority of its transactions is done outside of Mauritius.
On the other hand, the AC is non-resident for tax purposes and is therefore not liable to pay income tax in Mauritius. The AC is typically used where no tax treaty benefits are sought.
