Global Business Company in Mauritius

Introduction

Global Business Company in Mauritius is a popular corporate structure for international entrepreneurs, investors and multinational groups looking to establish a regulated business presence in Mauritius.

Mauritius has developed into an established international financial centre, offering a legal and regulatory framework for businesses conducting qualifying activities across borders.

A Global Business Company (GBC) can be used for a range of international activities, including investment holding, regional investment structures and certain financial and commercial activities, subject to the applicable licensing and regulatory requirements.

However, setting up a GBC in Mauritius involves more than incorporating a company. Investors need to consider Global Business Licence requirements, economic substance, resident directors, tax residence, banking, beneficial ownership and ongoing compliance.

This guide explains everything you need to know about establishing and maintaining a Global Business Company in Mauritius.

What Is a Global Business Company in Mauritius?

A Global Business Company (GBC) is a Mauritius-based company that conducts qualifying business activities outside Mauritius and operates under the Global Business regulatory framework.

A company applying for a Global Business Licence must demonstrate that it conducts business outside Mauritius. The application is submitted to the Financial Services Commission (FSC) through a licensed Management Company.

The FSC considers whether the company's purpose involves investment or services to be made or provided outside Mauritius.

A GBC is therefore designed primarily for international business and investment activities, rather than for a company whose main business is purely domestic in Mauritius.

Why Set Up a Global Business Company in Mauritius?

Mauritius offers an established ecosystem for international businesses, investors and financial-services structures.

Depending on the company's activities and circumstances, a GBC may provide access to several advantages.

International business environment

Mauritius has a developed corporate and financial-services sector, with Management Companies, banks, accountants, auditors, lawyers and other professional service providers supporting international structures.

International investment structures

A GBC may be used as part of an international investment or holding structure, subject to the applicable legal, tax and regulatory requirements.

Access to Double Taxation Agreements

Mauritius has an extensive network of Double Taxation Agreements.

Where the relevant requirements are satisfied, a Mauritius tax-resident company may apply for a Tax Residence Certificate (TRC) from the Mauritius Revenue Authority.

A TRC may be relevant when a company seeks to access treaty benefits. However, treaty benefits are not automatic and depend on the applicable treaty and conditions.

Regulated corporate structure

A GBC operates within a regulated framework overseen by the FSC.

This provides an established regulatory environment for qualifying international businesses.

Regional investment platform

Mauritius is also used by international investors as part of structures involving investments and business activities in Africa and other international markets.

Global Business Company Requirements in Mauritius

Setting up a GBC requires the company to satisfy specific regulatory and corporate requirements.

Some of the key requirements include the following.

1. At Least Two Resident Directors

A GBC must have at least two directors who are resident in Mauritius.

The FSC also expects the resident directors to have sufficient calibre to exercise independent judgment.

Resident directors are an important component of the company's governance and substance in Mauritius.

2. A Licensed Management Company

A GBC must be administered through a Management Company licensed by the Financial Services Commission.

The Management Company acts as an intermediary between the applicant and the FSC and assists with the establishment and ongoing administration of the company.

Depending on the structure, services may include:

• Global Business Licence application
• Company incorporation
• Corporate administration
• Registered office
• Provision of directors and secretary
• Accounting records
• Regulatory filings
• Corporate changes
• Compliance administration

The FSC specifically identifies Management Companies as entities responsible for services such as company formation, administration, registered office services and preparation of Global Business Licence applications.

3. Registered Office in Mauritius

A GBC must maintain a registered office in Mauritius.

The registered office is the company's official statutory address and is used for corporate and regulatory purposes.

It is also relevant to the maintenance of corporate records and the company's overall presence in Mauritius.

4. Principal Bank Account in Mauritius

A GBC is required to maintain its principal bank account in Mauritius.

The company's banking arrangements will depend on its business activities, ownership structure and the requirements of the chosen financial institution.

Banks may conduct detailed due diligence covering:

• Shareholders
• Beneficial owners
• Directors
• Source of funds
• Source of wealth
• Business activities
• Expected transactions
• Countries involved

Economic Substance for a Mauritius GBC

Economic substance is one of the most important considerations when establishing a Global Business Company.

A GBC should not simply exist as a paper company with no meaningful connection to Mauritius.

The FSC indicates that a Category 1 Global Business Company should have features including:

• At least two resident directors
• A principal bank account in Mauritius
• Accounting records maintained at its registered office in Mauritius
• Statutory financial statements prepared and audited in Mauritius where applicable

The appropriate level of substance also depends on the company's actual activities and the regulatory and tax framework applicable to its business.

For international investors, substance should therefore be considered before the company is incorporated, rather than treated as an administrative issue afterwards.

What Activities Can a Global Business Company Carry Out?

The appropriate activities depend on the structure and the relevant regulatory requirements.

A GBC may be used in connection with qualifying activities such as:

Investment holding

A GBC can form part of an international investment-holding structure.

International investment

The company may be used to hold or manage investments in other jurisdictions, subject to the relevant laws.

Regional investment structures

Mauritius can be used as part of investment structures involving businesses and assets in Africa and other international markets.

Financial services

Certain financial activities may be carried out through a GBC, but additional licences or approvals may be required.

Examples can include activities involving:

• Investment dealing
• Fund management
• Asset management
• Insurance-related activities
• Other regulated financial services

A GBC should therefore not begin a regulated activity until the required licence or approval has been obtained.

International trading

Depending on the proposed business model and applicable requirements, a GBC may also be used for certain international trading activities.

The proposed activity should always be reviewed before incorporation.

GBC Taxation in Mauritius

Tax is an important consideration when establishing a GBC, but the structure should not be viewed simply as a low-tax vehicle.

Mauritius generally applies a 15% corporate income tax rate, while certain categories of income may qualify for partial exemption if the relevant statutory conditions are satisfied.

The Mauritius Revenue Authority currently provides for 80% or 95% partial exemptions on specified types of income, subject to applicable conditions.

Examples of income that may qualify under the relevant rules include certain:

• Foreign dividends
• Interest income
• Foreign permanent establishment profits
• Collective Investment Scheme income
• Certain investment-management income
• Reinsurance-related income
• Certain leasing income
• Certain aviation-related income

The availability of an exemption depends on the type of income and the conditions applicable to the company.

Therefore, investors should avoid assuming that all foreign income earned by a GBC automatically benefits from a partial exemption.

The company's activities, income streams, substance and tax position should be reviewed individually.

Global Business Company and Tax Residence

A GBC may be tax resident in Mauritius when the applicable requirements are satisfied.

Where appropriate, the company can apply for a Tax Residence Certificate from the Mauritius Revenue Authority.

This can be important where the company intends to consider benefits under a Double Taxation Agreement.

However, incorporation in Mauritius alone does not guarantee access to treaty benefits.

The relevant tax authorities may consider factors such as:

• Tax residence
• Management and control
• Economic substance
• Beneficial ownership
• Nature of the income
• Applicable treaty provisions
• Anti-avoidance rules

International tax advice should therefore be obtained before relying on a Double Taxation Agreement.

Global Business Company vs Authorised Company in Mauritius

The GBC and the Authorised Company are two different structures.

They should not be treated as interchangeable.

The CBRD confirms that a GBC must have at least two resident directors and be administered by a Management Company, whereas an Authorised Company must have at least one director and a registered Agent.

The appropriate structure depends on the company's activities, management, ownership, substance and international tax position.

How to Set Up a Global Business Company in Mauritius

The process can be divided into several stages.

Step 1: Define the Business Activity

Before incorporating the company, identify:

• What the company will do
• Where customers are located
• Where investments will be held
• Where business decisions will be made
• Where management will take place
• Whether additional licences are required

This determines whether a GBC is appropriate.

Step 2: Determine the Corporate Structure

The proposed:

• Shareholders
• Beneficial owners
• Directors
• Group companies
• Ownership percentages
• Investment structure

should be identified.

For international groups, it is also important to consider the relationship between the Mauritius company and the entities it owns or controls.

Step 3: Choose a Management Company

The GBC application must be channelled through a licensed Management Company.

The Management Company will assist with the application and liaise with the FSC and other relevant authorities.

Step 4: Complete Due Diligence

The applicant and beneficial owners will generally need to provide appropriate documentation.

This may include:

• Passport or identification documents
• Proof of address
• Corporate documents
• Ownership information
• Business plan
• Source-of-funds information
• Source-of-wealth information
• Details of existing businesses and investments

The exact documentation depends on the structure.

Step 5: Incorporate the Company

Once the structure has been reviewed and the necessary information prepared, the company can be incorporated in Mauritius.

Step 6: Apply for the Global Business Licence

The relevant application is submitted to the FSC through the Management Company.

The FSC assesses the application against the applicable regulatory requirements.

Step 7: Establish the Company's Substance

The company should put in place the appropriate Mauritian infrastructure, including where applicable:

• Resident directors
• Registered office
• Local banking arrangements
• Accounting records
• Corporate governance
• Board meetings
• Financial statements
• Local administration

Step 8: Maintain Ongoing Compliance

Once established, the company must continue meeting its corporate, regulatory, accounting and tax obligations.

Incorporation is therefore only the beginning of the process.

How Much Does a GBC Cost in Mauritius?

There is no single fixed cost for establishing a Global Business Company.

The total cost depends on the structure and services required.

Potential costs include:

• FSC application fees
• Annual FSC licence fees
• Registrar of Companies fees
• Management Company fees
• Registered office fees
• Resident director fees
• Accounting fees
• Audit fees
• Tax compliance
• Corporate secretarial services
• Banking costs
• Professional advisory fees

As of the FSC's consolidated fee schedule updated 1 July 2026, the Category 1 Global Business Licence has a USD 600 processing fee and a USD 2,600 fixed annual fee, excluding the applicable annual registration fee payable to the Registrar of Companies.

Fees can change, so investors should verify the current schedule before establishing a company.

How Long Does It Take to Set Up a GBC?

The timeframe depends on the complexity of the application.

Factors that can affect the process include:

• Number of shareholders
• Corporate shareholders
• Complexity of ownership
• Beneficial ownership
• Source-of-funds documentation
• Proposed activity
• Additional regulatory licences
• Banking requirements
• Completeness of the application

A straightforward structure with complete documentation can generally be processed more efficiently than a complex international structure.

Preparing the documentation in advance can therefore help avoid unnecessary delays.

GBC Compliance After Incorporation

A GBC requires continuous compliance.

Important areas include:

Corporate compliance

The company must maintain its statutory records and comply with applicable company law.

FSC compliance

The company must comply with the conditions attached to its Global Business Licence.

Accounting

Appropriate accounting records must be maintained.

Financial statements

The applicable financial statements must be prepared and audited where required.

Tax compliance

The company must comply with applicable Mauritius tax filing and payment obligations.

Beneficial ownership

Changes in ownership and beneficial ownership information must be properly addressed.

Corporate governance

The board should maintain appropriate governance procedures and documentation.

Common Mistakes When Setting Up a GBC

International investors should pay particular attention to several common mistakes.

Mistake 1: Choosing a GBC Only for Tax Reasons

A GBC should be based on the company's genuine international business requirements.

Tax should be considered as part of the overall structure, not as the only reason for incorporation.

Mistake 2: Ignoring Economic Substance

Substance requirements can be important for both regulatory and tax purposes.

Mistake 3: Choosing the Wrong Corporate Structure

A GBC is not necessarily appropriate for every international business.

An Authorised Company or another structure may be more suitable depending on the circumstances.

Mistake 4: Underestimating Banking Requirements

Opening a corporate bank account can involve extensive due diligence.

Mistake 5: Forgetting Ongoing Compliance

A company requires continuous administration after incorporation.

Mistake 6: Assuming Tax Treaty Benefits Are Automatic

A Mauritius company does not automatically qualify for every benefit available under a Double Taxation Agreement.

Is a Global Business Company Right for Your Business?

A GBC may be relevant where a company:

• Has genuine international activities
• Invests outside Mauritius
• Requires an international holding structure
• Needs a regulated Mauritius presence
• Is considering regional investment activities
• Can satisfy the applicable substance requirements
• Requires access to Mauritius' international business and financial-services ecosystem

However, the correct structure depends on the specific circumstances.

Before establishing a GBC, investors should consider:

Business activity → Ownership → Management → Substance → Banking → Tax → Compliance

This approach helps ensure that the structure reflects the company's actual commercial objectives.

Global Business Company Services in Mauritius

Setting up and maintaining a GBC involves several different areas of corporate administration.

A professional corporate services provider can assist with:

• Company incorporation
• Global Business Licence applications
• Company secretarial services
• Registered office
• Resident director arrangements
• Corporate administration
• Accounting coordination
• Tax compliance coordination
• Annual filings
• Corporate governance
• Regulatory compliance
• Beneficial ownership administration

For international investors who are not based in Mauritius, having a local professional team can simplify the administration of the company and coordination with local authorities and service providers.

Global Business Company Services by Baldo Corporate Services Ltd

Baldo Corporate Services Ltd assists entrepreneurs, investors and international businesses establishing and maintaining corporate structures in Mauritius.

Our services can include:

• Global Business Company support
• Company incorporation
• Company Secretary services
• Registered Office services
• Corporate administration
• Annual returns and statutory filings
• Corporate compliance
• Accounting and tax compliance coordination
• Corporate governance support

Each international structure should be assessed according to its actual business activity, ownership structure, management arrangements and international objectives.

Our approach is to help clients establish a practical and compliant corporate structure rather than simply incorporating a company.

Global Business Company Mauritius: Key Takeaways

A Global Business Company in Mauritius can be a suitable structure for qualifying international business and investment activities.

The most important points are:

• A GBC operates under the Mauritius Global Business regulatory framework.
• The Global Business Licence application is submitted through a licensed Management Company.
• A GBC must have at least two resident directors.
• The principal bank account must be maintained in Mauritius.
• Economic substance is an important consideration.
• A GBC may be eligible for Mauritius tax residence where the applicable requirements are met.
• Certain qualifying income may benefit from partial exemption subject to statutory conditions.
• A Tax Residence Certificate may be relevant when seeking treaty benefits.
• Ongoing corporate, tax, accounting and regulatory compliance is required.
• A GBC should be established according to genuine commercial and international business requirements.

Frequently Asked Questions About Global Business Companies in Mauritius

What is a GBC in Mauritius?

A GBC, or Global Business Company, is a Mauritius-based company conducting qualifying business activities outside Mauritius under the Global Business regulatory framework.

How many directors does a Mauritius GBC need?

A GBC must have at least two resident directors in Mauritius.

Does a GBC need a Management Company?

Yes. A GBC application is channelled through a Management Company licensed by the FSC.

Can a foreigner own a GBC in Mauritius?

International investors can establish and own a GBC subject to applicable corporate, beneficial ownership, due-diligence and regulatory requirements.

Does a GBC need a registered office in Mauritius?

Yes. A Mauritius corporate structure requires an appropriate registered office, and the FSC framework specifically identifies registered office arrangements for GBCs.

What is the corporate tax rate for a GBC?

Mauritius generally applies a 15% corporate income tax rate. Certain qualifying income may benefit from an 80% or 95% partial exemption if the relevant statutory conditions are satisfied.

Can a GBC obtain a Tax Residence Certificate?

A qualifying Mauritius tax-resident GBC may apply for a Tax Residence Certificate from the Mauritius Revenue Authority.

What is the difference between a GBC and an Authorised Company?

A GBC and an Authorised Company are different structures. A GBC has specific requirements including at least two resident directors and administration by a Management Company. An Authorised Company has a different framework and must have a registered Agent.

How much does it cost to establish a GBC in Mauritius?

Costs depend on the structure and services required. They can include licensing fees, Management Company fees, directors, registered office, accounting, audit, tax compliance and other professional costs.

How long does it take to establish a GBC?

The timeframe depends on the complexity of the structure, due diligence, business activity, banking requirements and completeness of the application.

Is a GBC a tax-free company?

No. A GBC is not automatically tax-free. Mauritius applies corporate tax rules to companies, with partial exemptions available for certain qualifying income subject to conditions.

Can a GBC be used for African investments?

Yes, a GBC can potentially form part of an international investment structure involving African investments, provided the structure complies with Mauritius law and the laws applicable in the relevant investment jurisdictions.

Conclusion: Setting Up a Global Business Company in Mauritius

A Global Business Company in Mauritius can provide international investors with a structured platform for qualifying cross-border business and investment activities.

The benefits of the structure should, however, be considered together with its requirements.

Successful establishment involves more than incorporation. Investors need to consider substance, resident directors, management, banking, taxation, beneficial ownership, governance and ongoing compliance.

For businesses looking at Mauritius as an international investment or corporate hub, the first step should be to assess the proposed activities and determine whether a GBC is the appropriate structure.

Baldo Corporate Services Ltd can assist international entrepreneurs and businesses with the corporate and administrative aspects of establishing and maintaining a Mauritius business structure.

Disclaimer: This article is provided for general information purposes only and does not constitute legal, tax, accounting or financial advice. Mauritius legislation and regulatory requirements may change. Professional advice should be obtained before establishing a Global Business Company or relying on any specific tax treatment.