What is a Global Business Company?
The Global Business Company (GBC) is the cornerstone of Mauritius's international financial centre. Governed by the Companies Act 2001 and the Financial Services Act 2007, the GBC is a company incorporated in Mauritius that holds a Global Business Licence issued by the Financial Services Commission (FSC). It is designed for entities conducting business predominantly outside of Mauritius while maintaining genuine substance on the island.
The GBC replaced the former GBC1 category following the reforms of 2018-2019, which aligned Mauritius with OECD and EU standards on substance and transparency. Today, the GBC is recognized internationally as a legitimate and well-regulated corporate vehicle for cross-border business.
Key Advantages of the GBC
Favourable Tax Regime
The GBC benefits from the partial exemption regime under the Income Tax Act. This provides an 80% exemption on specific categories of foreign-source income, including dividends, interest, royalties, and income from the provision of services. Combined with the standard corporate tax rate of 15%, this results in an effective tax rate of approximately 3%.
Additionally, Mauritius imposes no capital gains tax, no withholding tax on dividends paid to non-residents, and no inheritance or estate tax. This makes the GBC particularly attractive for holding structures and international trading companies.
Access to Double Taxation Agreements
One of the most significant advantages of the GBC is its ability to access Mauritius's extensive network of over 45 double taxation agreements (DTAs). These treaties cover major economies in Africa, Asia, and Europe, allowing GBCs to benefit from reduced withholding tax rates on dividends, interest, and royalties flowing between treaty countries.
Learn more about Mauritius's DTA network and how it can benefit your business.
International Credibility
The GBC is licensed and supervised by the FSC, a member of IOSCO and signatory to multiple international cooperation agreements. Mauritius is compliant with FATF recommendations and has been removed from both the EU and FATF grey lists. This provides GBCs with strong international credibility for banking relationships and business partnerships.
Substance Requirements
Meeting the Substance Test
Since the 2018 reforms, GBCs must demonstrate genuine economic substance in Mauritius. The FSC assesses substance based on several criteria that must be continuously maintained.
The key substance requirements include:
- Resident directors — At least two directors who are resident in Mauritius and of sufficient calibre to exercise independence of mind and judgment
- Principal bank account — The company's main banking relationship must be maintained in Mauritius
- Accounting records — Books and records must be maintained at the registered office in Mauritius
- Local employees or outsourcing — The company must employ qualified staff in Mauritius or outsource key functions to a licensed Management Company
- Board meetings — A minimum number of board meetings must be held in Mauritius each year
- Strategic decisions — Key strategic and management decisions must be taken in Mauritius
GBC Formation Process
- Step 1: Structure assessment — We evaluate your business model, target markets, and objectives to confirm the GBC is the right vehicle. We also assess whether a GBC or Authorised Company is more suitable.
- Step 2: Due diligence — Collection of KYC/AML documentation for all shareholders, directors, and beneficial owners: certified passport copies, proof of address, CV, bank reference letter, and source of funds declaration.
- Step 3: Company incorporation — Filing of incorporation documents with the Registrar of Companies, including constitution, registered office address, and director appointments.
- Step 4: FSC licence application — Submission of the Global Business Licence application to the FSC, including business plan, financial projections, and evidence of substance.
- Step 5: Bank account opening — Assistance with opening a corporate bank account with a Mauritian bank or an international banking institution.
- Step 6: Operational launch — Finalization of all administrative, tax, and compliance registrations. Your GBC is ready to operate.
GBC Costs and Fees
| Item | Amount (USD) |
|---|---|
| Incorporation and FSC licence | 3,000 – 5,000 |
| Annual FSC licence fee | 1,950 |
| Registered agent and company secretary | Included in management fees |
| Two resident directors | 2,000 – 4,000 per year |
| Annual compliance and administration | 3,000 – 5,000 |
| Audited financial statements | 1,500 – 3,000 |
For a complete breakdown, see our detailed guide on company formation costs in Mauritius.
Eligible Activities for a GBC
A GBC can engage in a wide range of activities, subject to FSC approval:
- Holding and investment — Equity holdings, portfolio investment, venture capital
- International trading — Import/export, commodity trading, distribution
- Financial services — Fund management, insurance, pension administration (with additional FSC licences)
- Consultancy and management — International advisory services, management consulting
- Intellectual property — IP licensing, franchise management, technology transfer
- Treasury and finance — Corporate treasury, inter-company lending, factoring
- Shipping and aviation — Ship registration, aircraft leasing, maritime services
Explore the full range of business sectors available in Mauritius.
GBC vs Authorised Company
Choose a GBC if...
You need access to DTAs, require international credibility and FSC licensing, plan to hold investments in Africa or Asia, or operate in regulated financial services.
Choose an AC if...
You operate exclusively outside Mauritius, do not need DTA access, prefer lower setup and running costs, or run e-commerce or consulting businesses.
Read our comprehensive GBC vs AC comparison guide for detailed analysis.
Regulatory Framework
The GBC is governed by several key pieces of legislation:
- Companies Act 2001 — Governs company incorporation, governance, and administration
- Financial Services Act 2007 — Establishes the FSC and the licensing framework for global business
- Income Tax Act 1995 — Defines the tax regime including the partial exemption system
- Financial Intelligence and Anti-Money Laundering Act 2002 — Sets AML/CFT compliance requirements
Need expert guidance? Sunibel Corporate Services is an FSC-licensed Management Company and member of the Swiss Probus Pleion Group. Contact us for a free consultation on setting up your GBC in Mauritius.