A Mauritius GBC is governed by the Mauritius Companies Act 2001 and the Mauritius Financial Services Act 2007(* ).
This Company is mainly used for investment in countries with which Mauritius has a Double Tax Avoidance Treaty (“DTA”) thus conferring various fiscal benefits such as reduced withholding tax on dividends, interest and royalties and no CGT (Capital Gains Tax).
GBL 1 approved activities include:
- Aircraft Financing & leasing
- Assets/Fund Management
- Consultancy/Financial/Employment services
- Pensions Fund
- Insurance
- Information and Communication technology services
- Logistics & Marketing
- Operations headquarters
- Trading
- Shipping & ship management
- Licensing & Franchising
- Other business activities, subject to FSC approval
A GBL 1 Company can be considered resident in Mauritius and benefits from the network of Mauritius DTAs.
To benefit from the DTA treaty network a GBL1 Company should demonstrate that it is being managed and controlled from Mauritius & should obtain a Tax Residence Certificate from the Mauritius Revenue Authority.
Other features include:
- Share capital can be expressed in any currency (except Mauritian rupees)
- Minimum paid up capital is only $1
- Minimum of 2 directors is needed
- Minimum shareholders required is just one
- No publicly accessible records
- Board meetings can take place anywhere
- Accounts must be prepared, audited and filed with the FSC (though they are not publicly accessible)
- Corporate taxation varies from 0% to 3% maximum
- A Local Company secretary is required
- Redomiciliation is permitted (ie a GBL 1 can migrate to another country)
Management & Control
To benefit from the DTA treaty network a GBL1 Company should demonstrate that it is being managed and controlled from Mauritius & should obtain a Tax Residence Certificate from the Mauritius Revenue Authority.
Other features include:
- Share capital can be expressed in any currency (except Mauritian rupees)
- Minimum paid up capital is only $1
- Minimum of 2 directors is needed
- Minimum shareholders required is just one
- No publicly accessible records
- Board meetings can take place anywhere
- Accounts must be prepared, audited and filed with the FSC (though they are not publicly accessible)
- Redomiciliation is permitted (ie a GBL 1 can migrate to another country)
Set up & Annual Costs
OCI can assist you to incorporate a Mauritius GBL1. Our fee to help you set up a GBL1 would be US$2,700 and includes:
- Name reservation
- Preparation and filing of all necessary paperwork to register the company
- Provision of Registered Office
- Provision of Company Secretary
- Provision of 2 Resident Directors
- Supplying the docs required to assist with opening the Company’s first bank account
- Provision of Constitution
- Receipt of Certificate of Incorporation
- Global Business License
- First board minutes
- Issue of first share certificates
- Disbursement of statutory documents
You’ll also need to allow for government fees applicable on incorporation which include:
- A one-off fee payable to the Financial Services Commission of $US500
- Annual license fee payable to the Financial Services Commission: $1750
- Annual Fee payable to the Registrar of Companies: $300
Annual Fees – Payable on the 1 January of each year – for Professional Services rendered annually would be as follows:
- Proving Mauritius Registered Office/Agent Service $750
- Provision for 2 Resident Directors: $1,400
- Provision for Company Secretary: $750
Fees payable to the Government of Mauritius annually:
- Annual license fee payable to the Financial Services Commission $1750
- Annual Fee payable to the Registrar of Companies: $300
Would you like to know more? Then please Contact Us:
info@offshorecompaniesinternational.com
DISCLAIMER: OCI Ltd are not Tax advisers or Legal Advisers. You should seek local tax, legal and financial advice before committing to set up an Offshore Corporate or Fiduciary Entity.
