Tax residency: A clear competitive advantage

The most important distinction between the two structures lies in their tax residency status. A GBC is recognised as a tax resident in Mauritius, which gives it access to the country’s wide network of double taxation treaties. This can significantly reduce or eliminate withholding taxes on cross-border transactions.

An AC, by contrast, does not qualify as a Mauritian tax resident. It therefore cannot benefit from tax treaties, often resulting in higher withholding taxes abroad. This limitation may also raise concerns among banking and commercial partners, who may view the structure as less transparent.

Significant differences in permitted activities

A GBC can engage in a wide variety of regulated financial activities, including asset management, fund administration, treasury operations, and international trade. It may work with both resident and non-resident clients.

During a workshop held by the Economic Development Board (EDB) in August 2025, the Mauritian government reaffirmed its intention to broaden the scope of activities available to GBCs, particularly through the Mauritius Freeport regime. Newly identified opportunities include precious metal minting and refining, secure vault services, e-commerce logistics hubs, and even the high-value art trade, an activity introduced in the 2025–2026 Budget enabling storage, exhibition, and auctions in world-class facilities.

An AC, however, is restricted to non-financial holding activities, consultancy, and international trade conducted exclusively outside Mauritius. It cannot access local banking services, fund administration, or fiduciary services. These restrictions greatly limit its versatility.

Taxation and accounting obligations

A GBC is taxed at 15%, with the possibility of an effective rate of 3% on qualifying foreign-source income if substance requirements are met. It is not subject to capital gains tax, inheritance tax, or withholding tax on dividends, interest, or royalties.

An AC is exempt from Mauritian income tax but cannot benefit from treaty-reduced withholding rates. It must prepare simplified financial statements, with no audit requirement. A GBC, on the other hand, must maintain audited accounts and comply with more robust regulatory standards, a key factor that enhances its credibility internationally.

Economic substance and strengthened credibility

A GBC must demonstrate real economic presence in Mauritius by appointing local directors, maintaining office premises, and employing staff. This greatly enhances its credibility with banks and investors. A GBC can also own or lease property, hold bank accounts in Mauritian rupees, and allow foreign shareholders or employees to apply for residence permits.

As the Minister of Finance emphasised during the EDB workshop, economic substance requirements form part of Mauritius’ broader strategy to position itself as a gateway to Africa. The goal is to attract substantial investments through GBCs capable of integrating into regional value chains and contributing to national development.

An AC, typically managed from abroad, cannot own property in Mauritius or open bank accounts in local currency. Its lack of physical presence makes it less suitable for large-scale or long-term projects.

Regulation and operational framework

A GBC is supervised by the Financial Services Commission and must adhere to strict governance and reporting obligations. Although its annual operating costs are higher than those of an AC, this regulatory rigor strengthens trust with international partners and simplifies banking relationships.

An AC remains more cost-effective and easier to manage, making it a suitable option for simple holding structures or small-scale commercial activities that do not require local substance.

Which structure is best for your project?

A GBC is particularly well suited for financial services companies with international ambitions, as well as for sophisticated wealth management or structured investment activities. Its access to tax treaties, ability to hold assets in Mauritius, and integration into a recognised financial ecosystem fully justify its higher level of regulation.

According to the EDB, promising growth areas for GBCs include sustainability, climate resilience, and the digital economy – sectors in which GBCs can innovate, adopt green technologies, and contribute to regional development.

An AC remains a practical option for straightforward offshore arrangements where local presence and treaty benefits are not fundamental.

In conclusion

For internationally focused financial businesses, the GBC remains Mauritius’ premier corporate structure. It offers regulatory strength, tax efficiency, and operational flexibility. Combined with new investment opportunities in the Freeport and growing government support for innovative sectors, the GBC provides a future-ready framework aligned with Africa’s expanding markets and global financial trends.

The AC, while more accessible, is limited in scope and does not offer the same potential for developing a credible international presence or engaging in high-impact economic activities.

For the creation or management of your GBC or Authorised Company, C&S Secretarial is here to guide you at every step of your project.

Sources of this article:

1. https://loitamauritius.com/global-business-licence-authorised-company/
2. https://global.acclime.com/guides/mauritius-global-business-licence-company/
3. https://tridenttrust.com/media/24dj1axm/tmau-ac-kf.pdf
4. https://www.tetraconsultants.com/blog/a-detailed-comparison-between-the-3-types-of-companies-in-mauritius/
5. https://nexusgfs.com/setting-up-a-global-business-corporation-in-mauritius-advantages-and-uses/
6. https://csecretarial.revelia.dev/gbcs-authorised-company-et-domestic-company-understanding-business-structures-in-mauritius/
7. https://global.acclime.com/guides/mauritius-authorised-company/
8. https://www.businessconsult.mu/table-of-comparison-between-global-business-company-and-authorised-company/
9. https://intercontinentaltrust.com/products/global-business-companies
10. https://oramacorporate.com/benefits-of-a-global-business-company/
11. https://edbmauritius.org/newsroom/opportunities-in-mauritius-freeport-for-global-business-corporation-gbcs

L’article Why a GBC is the stronger choice than an Authorised Company in Mauritius est apparu en premier sur C&S Secretarial Services.

Establishing a Global Business Company (GBC) or an Authorised Company in Mauritius requires specialised expertise. To ensure efficiency, full regulatory compliance, and optimal tax benefits, it is essential to work with a licensed Management Company capable of handling all administrative and fiscal processes.

With C&S Secretarial Services, you receive comprehensive support, from incorporation to ongoing management, in full accordance with the requirements of the Financial Services Commission (FSC) and the Mauritius Revenue Authority (MRA).

What is a licensed service provider, and why is it essential?

A licensed service provider, or Management Company, is authorised by the Financial Services Commission (FSC) to represent a GBC or Authorised Company before Mauritian authorities.

This representation is mandatory and ensures that:

• All regulatory obligations are met with both the FSC and the MRA;
• The company is genuinely managed and controlled from Mauritius, in line with economic substance requirements;
• The incorporation process is streamlined, minimising risks of delay or rejection.

Without this licensed partner, it is not possible to obtain the FSC licence or the Tax Residence Certificate (TRC), both of which are required to access Mauritius’ tax advantages and double taxation treaties.

Services provided by C&S Secretarial Services, your licensed Management Company

To ensure the smooth operation of your GBC or Authorised Company, we provide a complete range of services, from company formation to annual compliance monitoring.

1. Preparation and filing of documents

Before any official submission, the licensed provider certifies and files all company documents, ensuring full legal compliance. Services include:

• Drafting and certifying the company’s constitution and memorandum;
• Collecting information from directors and shareholders;
• Filing documents with the FSC and following up on all formalities.

2. Liaison with the FSC and the MRA

To ensure effective communication with the authorities, the licensed agent acts as your official contact point:

• Submitting the application for a GBC or Authorised Company licence;
• Obtaining the TRC to confirm tax residency;
• Following up on files and clarifying any regulatory queries.

3. Ongoing management and reporting

Once the company is incorporated, the Management Company handles daily administration and annual reporting in accordance with Mauritian law:

• Maintaining accounts in Mauritius;
• Annual audit of financial statements;
• Organising board meetings and preparing minutes;
• Filing tax returns and managing exemptions.

A concrete workflow: incorporating a company in 48 hours

With an experienced local partner, setting up a GBC or Authorised Company can be quick and secure. The key steps include:

1. Preparing documents : constitution, shareholder and director details, identity certificates;
2. Submission to the FSC through a licensed provider;
3. Coordination to obtain the TRC from the MRA;
4. Final registration and organisation of the first board meetings.

This workflow illustrates how an official and competent agent can reduce delays while ensuring full compliance.

What are the advantages of working with a licensed provider?

Partnering with a licensed Management Company such as C&S Secretarial Services offers many benefits:

• Security and compliance: all legal and tax obligations are fully met;
• Time-saving: fast incorporation and simplified annual follow-up;
• Tax optimisation: TRC and economic substance conditions met for tax exemptions;
• International credibility: a globally recognised structure, inspiring trust among partners and investors.

Why choose C&S Secretarial Services?

C&S Secretarial Services assists investors with the creation and full management of GBCs and Authorised Companies in Mauritius:

• Fast incorporation within 48 hours through an experienced licensed provider;
• Comprehensive management of documents, TRC, audit, and reporting;
• Strict compliance with substance requirements;
• Personalised guidance at every step to secure your investment.

Contact C&S to set up your company

FAQ – Licensed service provider, GBC, and Authorised Company

What is a licensed provider in Mauritius?
It is a company authorised by the FSC to represent a GBC or Authorised Company before local authorities, ensuring compliance and administrative follow-up.

Why is it mandatory for creating a GBC or Authorised Company?
It is required to obtain the FSC licence, manage local substance obligations, and issue the TRC, necessary for accessing tax benefits.

What services does a licensed provider offer?
Document preparation and filing, liaison with the FSC and MRA, TRC application, bookkeeping, audit, board meeting organisation, and annual reporting.

How long does it take to incorporate a GBC or Authorised Company?
With an experienced provider like C&S, incorporation can be completed in just 48 hours, including certified documents and TRC issuance.

Why choose C&S Secretarial Services?
C&S ensures quick incorporation, full legal and tax compliance, and personalised support for every client.

Conclusion

Your licensed Management Company is the cornerstone of the creation and management of a GBC or Authorised Company in Mauritius, ensuring speed, compliance, and tax efficiency.

Choose C&S Secretarial Services for complete and tailored support, from company formation to annual management of your legal and tax obligations.

L’article Creation and management of GBC and Authorised Company in Mauritius est apparu en premier sur C&S Secretarial Services.

What is a Global Business Company (GBC)?

A Global Business Company (GBC) is a Mauritian-registered entity specifically designed to conduct international trade and investment activities. It enables investors to structure their global operations while benefiting from substantial tax advantages.

Since 1 January 2019, companies previously categorised as GBC1 have been reclassified as Global Business Licence (GBL) entities. This reform replaced the former Foreign Tax Credit (FTC) regime with a partial exemption system, granting up to 80% tax exemption on selected types of foreign income such as dividends, interest, profits from foreign permanent establishments, and income from specialised activities like reinsurance or international leasing.

To qualify for this exemption, companies must meet economic substance requirements in Mauritius, meaning that core activities, management, and control must actually be carried out on the island. This includes having resident directors, a local bank account, and financial statements prepared and maintained in Mauritius.

In short, a GBC combines tax efficiency, operational flexibility, and international compliance, making it an ideal vehicle for investors and entrepreneurs managing cross-border operations from Mauritius.

Which income qualifies for tax exemption in Mauritius?

GBCs may benefit from a partial exemption on:

• Foreign dividends not deductible in the source country;
• Interest income and profits attributable to a foreign permanent establishment;
• Income from investment funds, including CIS and closed-end funds managed by Financial Services Commission (FSC)-licensed entities;
• Income derived from reinsurance, ship or aircraft leasing, and related services;
• Income generated by companies licensed in artificial intelligence or payment services.

Investment and closed-end funds may also qualify for a 95% exemption on interest income. GBCs benefiting from the 80% exemption, however, are not eligible to claim a tax credit on this foreign income.

The Tax Residence Certificate (TRC) and Double Tax Treaties

To benefit from tax advantages and Double Tax Treaties (DTTs), a GBC must hold tax residency status in Mauritius and obtain a Tax Residence Certificate (TRC) from the Mauritius Revenue Authority (MRA). The TRC is typically issued within seven days of submitting all required documentation.

Mauritius has signed 44 double taxation treaties, providing international investors with protection against double taxation and enabling efficient tax planning for their global operations.

Management and substance requirements in Mauritius

A GBC must be managed and controlled from Mauritius to maintain tax residency and qualify for exemptions. The main criteria include:

• At least two resident directors capable of making independent decisions;
• At least two resident directors capable of making independent decisions;
• Accounting records and statutory documents kept locally;
• Financial statements prepared and audited in Mauritius;
• Board meetings held in Mauritius with the participation of at least two resident directors.

Certain functions may be outsourced to licensed service providers, provided that effective management remains in Mauritius and economic substance is not duplicated.

Tax and operational benefits of a GBC

GBCs can benefit from an 80% exemption on selected foreign income streams, maximising profitability while remaining fully compliant with local tax regulations.

Exemption on foreign income

Eligible income includes interest, dividends, profits from foreign permanent establishments, reinsurance, and leasing of international assets.

Access to Double Taxation Treaties

With a Tax Residence Certificate (TRC), a GBC can benefit from the Double Tax Treaties (DTTs) signed by Mauritius with 44 countries, reducing or eliminating double taxation and facilitating the structuring of international operations.

Operational flexibility

The GBC structure allows for the management of a wide range of activities:

• Fund management and international investments;
• Ship and aircraft leasing;
• Payment services and international financial operations;
• Activities related to artificial intelligence and technology.

This flexibility makes it an ideal choice for entrepreneurs seeking to combine favourable taxation with global business opportunities.

International recognition

GBCs are recognised for their compliance with international governance and reporting standards, strengthening their credibility with partners and financial institutions worldwide.

4 steps to set up a GBC in Mauritius

Establishing a Global Business Company in Mauritius may appear complex, but with the right guidance, the process is clear and straightforward. Here’s a typical workflow:

1. Prepare and certify the necessary documents, including the constitution and identification of shareholders and directors;
2. Submit the application through a licensed Management Company to ensure full compliance and communication with the FSC;
3. Obtain the TRC to access tax benefits and double taxation treaties;
4. Finalise official registration and maintain ongoing compliance — including accounting, auditing, and board meetings.

Why establish a GBC in Mauritius?

Mauritius provides a secure and business-friendly environment for international investors, offering:

• Tax optimisation through exemptions and DTTs;
• Operational flexibility to structure and expand international activities;
• Regulatory stability under the supervision of the FSC and MRA;
• Global credibility through adherence to international governance standards;
• Access to an extensive DTT network, protecting and facilitating cross-border investments.

Conclusion

Setting up a Global Business Company (GBC) in Mauritius requires expertise, efficiency, and precision to secure your investments and ensure full tax compliance.

For a seamless and reliable incorporation process, partner with C&S Secretarial Services. We manage every step, from fast company formation to administrative and tax management, as well as coordination with local authorities, so you can focus on growing your business.

Contact us today to establish your GBC in Mauritius.

Source:

Global Business Licence (GBL) companies – taxsummaries.pwc.com

L’article Global Business Company (GBC): A complete guide to investing in Mauritius est apparu en premier sur C&S Secretarial Services.

The Global Business Company (GBC) is among the most popular legal structures for international investors who see Mauritius as a hub for their global activities. With its attractive tax benefits, robust regulatory framework, and strategic location, the GBC provides a reliable and effective way to expand business beyond Mauritius, while enjoying the advantages of a stable and well-recognized jurisdiction.

In this article, we’ll take a closer look at what a GBC is, its key benefits and obligations, some essential figures, and the steps to set one up with the support of C&S Secretarial Services.

1. What is a Global Business Company (GBC)?

A Global Business Company (GBC) is a tax-resident entity incorporated or registered in Mauritius and licensed by the Financial Services Commission (FSC). It is primarily intended for international operations, allowing businesses to benefit from Mauritius’ network of Double Taxation Avoidance Agreements (DTA) with over 45 countries.

In the past, two categories of licenses existed: GBC1 and GBC2. However, following sector reforms, all new entities are now registered under a single GBC framework with unified regulations.

The GBC operates under the Financial Services Act 2007 and must comply with stringent requirements on economic substance and local management.

2. A pillar of the Mauritian Economy

GBCs play a central role in Mauritius’ economy and financial sector. The latest statistics highlight their strategic weight:

• USD 741 billion: total assets held by GBCs in 2022 (source: FSC)
• 8.4% of GDP: contribution of the global business sector to the national economy (2022 forecast)
• MUR 83.68 billion: outstanding bank loans to GBCs in December 2023
• MUR 78.06 billion: gross national savings including GBCs (2017)

Their activity also generates significant indirect impact: creation of local jobs, stimulation of other financial sub-sectors, increase in foreign reserves, and boost to the economy through services purchased from Mauritian providers (management, accounting, legal).

3. Tax advantages of a GBC in Mauritius

The GBC tax regime is one of the most competitive globally:

• A nominal tax rate of 15%.
• An 80% partial exemption on certain income sources (dividends, interest, royalties, financial services profits), reducing the effective tax rate to 3%–3.4% (including the 2% Climate Levy, if applicable).
• No withholding tax on dividends, interest, or royalties.
• No capital gains tax.
• No restrictions on foreign currencies.

This tax framework is reinforced by Mauritius’ extensive network of tax treaties, a major advantage for international groups.

4. Regulatory and compliance obligations

To retain its license and benefits, a GBC must meet specific obligations:

• Appoint at least two resident directors in Mauritius.
• Maintain a local bank account.
• Hold board meetings in Mauritius.
• Have a registered office in Mauritius.
• File audited annual financial statements with the FSC.
• Comply with economic substance rules, demonstrating that the company’s effective management takes place in Mauritius.

5. Possible Activities for a GBC

A GBC can engage in a wide range of international activities, such as:

• Cross-border trade and distribution
• Fund management
• Financial or professional services
• Asset holding and management
• Structured financing operations

Certain activities (banking, insurance, regulated financial services) require additional licenses issued by financial authorities.

6. Setting up a GBC in Mauritius

The incorporation of a GBC involves three main stages:

Onboarding and due diligence

• Collection and verification of legal and financial documents
• Project analysis to ensure regulatory compliance

Company incorporation

• Registration with the Registrar of Companies
• Drafting of the Constitution tailored to the company’s needs

Obtaining the GBC license

• Submission of the application to the FSC for approval
• Implementation of regulatory obligations (directors, registered office, audits)

Important: The law requires that all procedures be carried out through a licensed Management Company and a company secretary.

7. Differences between a GBC and other structures

Mauritius offers other legal forms suited to investors’ needs:

• Domestic Company: for businesses operating mainly in Mauritius.
• Authorised Company: for foreign investors wishing to conduct activities exclusively outside Mauritius and who are not considered Mauritian tax residents.

The choice of structure depends on your strategy, target markets, and tax objectives.

8. Why choose C&S Secretarial Services to create your GBC?

With proven expertise and a reliable network of partners, C&S Secretarial Services supports clients at every stage of creating and managing a GBC. Our services include:

• Liaising with the Registrar of Companies and the FSC
• Drafting the Constitution and legal documents
• Appointment of directors and provision of a registered office address
• Managing regulatory and administrative obligations
• Organizing board meetings and drafting minutes
• Assistance with opening bank accounts and setting up audits

Our goal is to make your process smooth, compliant, and efficient so that you can focus on your international operations.

In conclusion

The Global Business Company (GBC) is a powerful vehicle for international investors and entrepreneurs seeking to leverage Mauritius as a gateway to global opportunities. It brings together attractive tax benefits, a robust regulatory framework, and seamless access to international markets.

With C&S Secretarial Services as your partner, you gain expert guidance at every step, from incorporation to the day-to-day management of your company, ensuring a smooth and compliant business journey.

Get in touch with C&S Secretarial Services today and set up your GBC in Mauritius with a partner who knows the regulatory and tax landscape inside out.

L’article Global Business Company (GBC) in Mauritius est apparu en premier sur C&S Secretarial Services.

In Mauritius, Global Business Companies (GBCs) offer a strategic solution for entrepreneurs and investors focused on international markets. Backed by a competitive tax regime and strong regulatory oversight, this legal structure has long attracted businesses seeking a reliable base in the heart of the Indian Ocean.

C&S Secretarial Services is one of the leading firms in the structuring of such companies and is now considered a key partner. With an experienced team and a strong focus on compliance, the firm supports clients in the setup, management, and regulatory monitoring of their GBCs.

What is a Global Business Company?

A Global Business Company (GBC) is a company registered in Mauritius that mainly operates internationally. It is governed by the Companies Act of 2001 and must obtain a licence from the Financial Services Commission (FSC).

As a tax resident in Mauritius, a GBC can benefit from the country’s network of Double Taxation Avoidance Agreements (DTA) signed with over 40 jurisdictions. It is commonly used for:

• Investment fund management;
• Cross-border financial services;
• International trade;
• Holding assets or equity stakes;
• Intellectual property and licence management.

A strong and reputable regulatory framework

Unlike some jurisdictions considered non-cooperative, Mauritius has implemented transparency and compliance requirements that are recognised internationally. To maintain its GBC status, a company must:

• Have at least two directors residing in Mauritius;
• Demonstrate that effective management is conducted locally;
• Meet all accounting and tax obligations (bookkeeping, audits, filings);
• Maintain sufficient economic substance in Mauritius.

A GBC must therefore have a genuine presence in Mauritius, which strengthens its credibility with banks, investors, and international tax authorities.

What are the tax benefits of GBCs?

The standard corporate tax rate in Mauritius is 15%, but GBCs can benefit from an 80% partial tax credit on certain types of income, effectively bringing the rate down to 3%. This applies to:

• Foreign-source dividends;
• Interest income;
• Royalties;
• Income from regulated activities.

GBCs are also exempt from withholding tax on dividends paid abroad, and Mauritius does not impose any wealth tax or capital gains tax.

Why choose Mauritius to set up an international company?

Mauritius offers a stable legal environment, competitive tax system, and a wide network of bilateral tax treaties. English is the language of business and law, and international jurisdictions increasingly recognise the credibility of Mauritius as a financial hub. Key advantages include:

• Access to African, Asian, and European markets;
• A transparent regulatory framework aligned with OECD standards;
• A solid banking system with the option to open multi-currency accounts;
• Advanced digital infrastructure ideal for remote operations.

Who should consider a GBC?

GBCs are suited for foreign investors, entrepreneurs, multinational companies, or asset managers looking to conduct international business from a strategic location. They are particularly relevant for:

• Regional or global holding companies;
• Investment funds;
• Family offices;
• Consulting firms operating in multiple jurisdictions;
• International digital service providers.

How to set up a GBC in Mauritius

A GBC must be incorporated through a Management Company licensed by the FSC, such as C&S Secretarial Services. The firm plays a central role in the setup process:

• Analysing the project and selecting the right structure;
• Preparing the company’s constitution and legal documents;
• Registering with the Registrar of Companies;
• Submitting the GBC licence application to the FSC;
• Opening the company’s business bank account;
• Ensuring compliance with substance and governance rules.

With C&S Secretarial Services, the setup process can be completed in just 48 hours, depending on the project and the documents provided.

GBC vs Authorised Company: Understanding the difference

Mauritius also offers the Authorised Company structure, designed for entities whose management and income are generated outside Mauritius. Unlike a GBC:

• An Authorised Company is not a tax resident;
• It does not benefit from DTAs;
• It is subject to lighter accounting obligations;
• It is more suitable for passive holding companies or certain family structures.

Choosing between a GBC and an Authorised Company depends on the strategic, tax, and operational goals of the project owner.

Economic substance: A core requirement

Since 2019, the OECD and the European Union have reinforced the need for economic substance. Every GBC must demonstrate real activity in Mauritius, through:

• Local operational expenses;
• Hiring local staff;
• Active management by Mauritian directors.

This requirement ensures Mauritius is not used as a simple mailbox address for shell companies.

Why work with C&S Secretarial Services?

C&S Secretarial Services is a trusted provider of corporate secretarial services in Mauritius. The firm offers tailored support to investors who choose to work with them, including:

• Company formation (GBC, Domestic Company, Authorised Company);
• Ongoing administrative and legal services;
• Continuous regulatory compliance (FSC, MRA, ROC);
• Structuring advice aligned with tax and legal objectives.

The C&S team is made up of seasoned professionals, including Chartered Accountants, ICSA members, and experts from the local banking and fiduciary sectors.

Recognised expertise

• Best Corporate Secretarial Services Firm – Mauritius, 2023
• Finalist – WIA 54 Program, 2021

The firm is led by Anjela Sonya Mohadeb (LLB, Chartered Governance Institute) and Shyam Mohadeb (former PwC Partner), who bring strategic insight and an extensive network to benefit their clients.

Get in touch with C&S Secretarial Services to set up your GBC in Mauritius

If you’re looking to set up a compliant and efficient GBC aligned with your international growth goals, get in touch with C&S Secretarial Services. Their team will provide fast, tailored support to meet both local and international requirements.

L’article Everything you need to know about GBCs in Mauritius est apparu en premier sur C&S Secretarial Services.