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Company Incorporation
Mauritiusflgmu.jpg (2806 bytes)


 GBL2 and GBL1
Comparative Table

Global Licence category 2 company

Global Licence category 1 company


Private Company

Private / Public Company


French / English

French / English

Disclosure of BeneficialOwner



Migration of DomicilePermitted



Tax on Offshore Profits


15% (Foreign Tax Credit provided)

shelf Companies





Limited by guarantee unlimited, limited by shares

Unlimited, limited by share, limited life, limited by guarantee

Min No of Shareholders



Min No of Directors



Minimum Capital



Bearer Shares

Not Allowed

Not Allowed

Corporate shareholders



Nominee Shareholders





Not Allowed




Type of shares

Registered, redeemable, (buy - back )

Registered, redeemable preference shares, ordinary redeemable shares for investment co.


Registered Office



Company Secretary



Local Directors


Local directors to establish residency.

Local Meetings



Register of directors




Annual Return



Audited Accounts



Licensing / Fees Annual

USD 335

USD 1500

Processing Fees

US $ 65

USD 500

Incorporation Time

24 hrs

Maximum 2 Weeks


Holding, Trading

Holding, Investment Trading, Insurance



15% - Foreign Tax Credit Given

Double Taxation Treaty      Relief

Not available


Comparison of some offshore centers (excell sheet).

Global Business Licence Category 1 Company (GBC1)

GBC1 Companies are governed by the Companies Act 2001. They can be set up for the purposes of carrying out any of the qualified global business activities specified in the second schedule of the FSD Act 2001.

A GBC1 Company may be set up either by direct incorporation or by way of continuation (s. 296 CA 2001).  It can also migrate out to another jurisdiction. A foreign company may also register a branch in Mauritius and apply for a GBC 1 licence (S. 273 CA 2001).  GBC1 companies are prohibited from dealing or transacting business in local currency and with local residents or from holding immovable property in Mauritius.

Key Features

  • No minimum capital requirement

  • May be a private or public company limited by shares or unlimited or a Limited Life Company or limited by guarantee

  • Shares may be issued with or without par value. Redeemable shares or fractional shares can be issued

  • Shares may be subscribed by nominees but beneficial owners must be disclosed

  • Management by one or two Directors who may not be resident in Mauritius

  • Corporate Directors are not allowed

  • Requirement for local resident Secretary and registered office

  • Obligation to file annual audited accounts to the Financial Services Commission (FSC)

Incorporation Procedures

  • Application shall be made to the Registrar of Companies on prescribed form accompanied by certificate of name reservation, the Constitution of the company, statutory documents and a legal certificate from a local law practitioner

  • Disclosure of the identity of the beneficial owner(s) together with a CV,  bank reference, proof of domiciliation  and business plan are required


GBC1 companies are taxed at a flat rate of 15% on their chargeable income.  However the may elect for a rate higher than 15%.  A foreign tax credit of 90% of the tax rate is given on foreign source income.

Double Taxation Relief

GBC1 Companies can benefit for double taxation avoidance reliefTo benefit from such relief, the Company is required to have its tax residence in Mauritius i.e. its central management and control must be exercised in Mauritius.  In determining tax residency for grant of a Tax Residence Certificate, the Commissioner of Income Tax in Mauritius requires the applicant company to:

  • have at least two Mauritius Resident Directors

  • appoint a resident Company Secretary and Local Auditors

  • maintain an account with a local bank .

  • maintain its registered office and all statutory records in Mauritius; and

  • all its board meetings must be chaired from within Mauritius


The legal framework for Trusts in Mauritius is the Trusts Act 2001.  The Act allows discretionary trust, charitable trust, purpose trust, commercial or trading trust and asset protection trust.  These trusts may be created by an instrument in writing or by a will.  The declaration of trust needs not to be registered.

Key features

  • Choice of the proper law of the trust by the settlor

  • Anti-forced heirship rules

  • Duration of Trusts limited to 99 years (except for charitable and purpose trusts which may have perpetual life)

  • Possibility to accumulate income for any period during the duration of the trust

  • Trust instrument may contain provisions to vary terms of trust

  • Confidentiality of trustees’ deliberations, identity of settlors and the non-resident beneficiaries

  • Possibility to appoint a protector and to establish letters or memoranda of wishes

  • Obligation to hold trust property separate and identifiable from those of the trustees.

  • Duty of confidentiality impose on the trustees.



  • Settlor

Where the settlor is a non resident, the trust property shall not include any movable and immovable property in Mauritius or any account in Mauritian rupee in a domestic bank.

  • Trustees

A trustee can be an individual, a GBC2 Company authorised by the Financial services Commision  to act as trustee. Unless administered by a body corporate, the number of trustees shall not be less than two.

  • Beneficiaries

The beneficiary has to be identifiable by name or ascertainable (by reference to a class or relationship with another person, living or not at the time of the creation of the trust or at any other time fixed by the trust instrument for determining the members of a class.) 

A settlor or trustee of a trust may also be a beneficiary but shall not at any time be the sole beneficiary of the trust.

  • Protector

A Protector can be appointed to supervise the trustees and to ensure that the trust is administered in accordance with the settlor’s wishes as expressed in the Memorandum or letter of Wishes.  The Protector can be an individual or a corporate body who can be a settlor, a trustee or a beneficiary of the trust.

  • Custodian Trustee

Custodian trustee can be appointed which can be a partnership form or a body corporate.  It shall hold the trust property, invest the funds or dispose thereof under the direction of the managing trustee

  • Managing Trustee

The managing trustee can be appointed to manage the trust property vested with the custodian trustee.

  • Enforcer

It can be appointed under the terms of a purpose trust to enforce the trust in accordance with its terms and purposes.  The trustee cannot be an enforcer

  • Taxation

  • The income derived by a trust is exempt from income tax.

  • A non – resident beneficiary is exempt from income tax on his income from the trust.

  • A resident beneficiary is liable to income tax in respect of income received from the trust

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Whilst every effort has been made to ensure that the details contained herein are correct and up-to-date, it does not constitute legal or other professional advice. We do not accept any responsibility, legal or otherwise, for any errors or omissions.

Please go to our Uses of offshore Companies Page where you will find interesting information on the benefits of using offshore companies and trusts for business and personal use, links to information on other locations and details of our products and services.


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