Both Category 1 Global Business Licence Company and Category 2 Global Business Licence Company (previously referred as an international company) are governed under the provisions of Companies Act 2001 and the Financial Services Act 2007 of the Republic of Mauritius.
CATEGORY 1 GLOBAL BUSINESS LICENCE (GBC-1)
GBC-1 undertakes global business activity, outside of Mauritius. Examples of some approved activities are international trading, investment holding, offshore insurance, offshore funds management, IT services.
GBC-1 is qualified as Mauritius Tax Resident mainly to avail of the benefits from the Mauritius Double Taxation Treaty Network. by following the ongoing requirement as follows:
- The Company is centrally controlled and managed in Mauritius.
- Two resident Directors on the Board.
- The Company has a qualified resident company Secretary.
- The registered office and business address of the Company is in Mauritius.
- The Company must maintain an account with a local bank through which funds must flow.
- All Meetings of the Board of directors are held in and chaired from its Registered Office in Mauritius.
- The Company records are kept at the Registered Office in Mauritius.
- The Company’s administrator is based in Mauritius.
- The auditors of the Company are based in Mauritius.
CATEGORY 2 GLOBAL BUSINESS LICENCE (GBC-2)
GBC-2 is tax exempt in Mauritius so it does not qualify as tax resident in Mauritius and does not benefit from the Mauritius double taxation treaty network.
GBC-2 are restricted to carry on activities as follows:
- Business with persons resident in Mauritius and in Mauritian currency.
- Banking, insurance or reinsurance business or collective investment schemes.
- Business of the company formation, administration and management or provide professional nominee or trusteeship services or professional financial services.
- Professional fiduciary services or act as functionary in the investment fund, collective investment business.
GBC2 enjoys a flexible legal regime, is easy to operate. It can undertake the different global business activities though are commonly used for international trading, invoicing, consultancy business.