Global Business Company

Mauritius joined the BEPS Inclusive Framework in November 2016, which commits signatories to implement minimum standards put forward by the OECD on harmful tax practices, tax treaty abuse, country-by-country reporting, and dispute resolution mechanisms.

In compliance with its commitment as a signatory to the BEPS initiative and with a view to enhance the competitiveness and transparency of Mauritius as a financial centre of substance, the Government enacted the Finance (Miscellaneous Provisions) Act 2018 bringing major changes to the global business ("GB") regime in Mauritius.

Prior to the amendments, a corporation could apply for a Category 1 GB licence (GBL1) or a Category 2 GB licence (GBL2) from the Financial Services Commission ("FSC"). Effective from 1 January 2019, there will be a single GB regime, whereby the FSC will issue a Global Business Licence ("GBL") to qualified companies.

The legislation also introduced enhanced substance requirements for GB companies, which have been clarified through circulars issued by the FSC.

Companies holding a GBL1 issued on or before 16 October 2017 will be grandfathered until 30 June 2021 while those issued after 16 October 2017 will be grandfathered until 31 December 2018.

A GBL is mainly targeted for financial services business (subject to any additional licences that may be required) as well as for investment holding activities. It is eligible for benefits under Double Taxation Agreements which makes it an effective vehicle for international tax planning.

A GBL is issued under section 71 of the Financial Services Act 2007 by the FSC to a resident corporation, except as provided under FSC Rules, where

  • The majority shares or voting rights or legal or beneficial interests are held or controlled by a non-Mauritius citizen; and

  • It proposes to conduct business principally outside Mauritius, or with persons that may be specified under FSC Rules.


A GBL that fails to comply with FSC rules or guidelines may be directed to cease its business or take remedial actions as may be determined by the FSC. 

Also a GBL benefits from 3% tax if the business activity qualifies for Partial Exemption.

Management & Control

The GBL must be managed and controlled from Mauritius.

Particularly, the corporation shall: 

  1. Have at least 2 directors who are resident in Mauritius;

  2. Maintain, at all times, its principal bank account in Mauritius through which funds must flow in respect of the activities of the GBL;

  3. Keep and maintain, at all times, its accounting records at its registered office in Mauritius;

  4. Prepare its statutory financial statements and cause same to be audited in Mauritius; and

  5. Provide for meetings of directors to include at least 2 directors from Mauritius.

Ashton provides professional resident directors who will chair board meetings, facilitate the opening of bank accounts and act as signatories to the Mauritian bank account.

How Ashton can service you as a management company

We advise you to make the best decision and assist you in meeting your objectives strategically with the best alternative outcome. We provide a hassle-free approach for you to set up your company in Mauritius. We leverage our international and local market expertise to offer you a global solution for all your needs.


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