Global Business Company (GBC)

Definition

The Global Business Company (GBC) is a company incorporated under Mauritian law holding a Global Business Licence issued by the Financial Services Commission (FSC). It is tax resident in Mauritius and, as such, may access the network of double taxation treaties signed by the country. The GBC is administered by a management company licensed by the FSC, which handles its management and regulatory compliance.

Framework in Mauritius

The GBC falls under the Financial Services Commission, the regulator of non-bank financial services in Mauritius, which issues the licence and supervises compliance with applicable requirements. The corporate tax rate in Mauritius is set at 15%. Specified foreign-source income received by a GBC — foreign dividends, interest, profits of a foreign permanent establishment, income from ship or aircraft leasing, among others — may benefit from a partial 80% exemption, provided the substance conditions are met: income-generating activities carried out in Mauritius, an adequate number of qualified staff, and expenditure proportionate to the activity. Only within this framework, and subject to this condition, can an effective tax rate of around 3% be mentioned. Mauritius has 45 double taxation treaties in force (MRA, 2026), which a GBC may access according to the eligibility criteria specific to each treaty.

In practice

The GBC is used for a variety of international activities: holding of participations, international trade, intellectual property management, financial services, and consulting. Certain regulated activities require additional licences from the FSC. To benefit from the partial exemption on foreign-source income, you must demonstrate that the required economic substance is actually present in Mauritius; this point deserves particular attention, as its assessment depends on the specific facts of each company. Furthermore, Mauritius levies no capital gains tax and no withholding tax on dividends. The incorporation and administration of a GBC must be carried out through a management company licensed by the FSC; it is this entity that liaises with the regulator and monitors compliance obligations.

Related terms

The GBC differs from the Authorised Company, which is not tax resident in Mauritius and has no access to double taxation treaties. It is administered by a management company licensed by the Financial Services Commission (FSC), the regulator of non-bank financial services in Mauritius. The concept of economic substance governs access to the partial exemption on foreign-source income, and the double taxation treaty refers to the bilateral treaty preventing the double taxation of the same income.

Related terms