A company holding a Category 2 Global Business License is often used for trading and investment. GBC II companies are not resident for tax purposes and do not have access to Mauritius' tax treaty network.
Mauritius is situated in the Indian Ocean approximately 800 km off the East Coast of Madagascar.
The population of the Island is approximately 1,200,000 made up principally by people of European, African, Indian and Chinese origin. Mauritius takes pride in the fact that these different cultures co-exist in peace and succeed in creating a cultural entity that is distinctly Mauritian.
The British ruled Mauritius for 158 years until 12 March 1968 when it became an independent country within the Commonwealth. The Republic of Mauritius is a Westminster style democracy. The President is the Head of State and Commander in Chief. Full executive power rests with the Prime Minister who is Head of Government. The Members of Parliament are elected every five years by popular vote and a number of political parties contest the elections every five years, reflecting the country's firm commitment to a multi-party political system.
Since independence in 1968, Mauritius has developed from a low income, agriculturally based economy to a middle-income diversified economy with growing industrial, financial, and tourist sectors. For most of the period, annual growth has been of the order of 5% to 6%.
The government's development strategy centres on foreign investment. Mauritius has attracted more than 15,000 offshore entities, many aimed at commerce in India and South Africa, and investment in the banking sector alone has reached over US$ 1 billion.
English is the official language. However, the Mauritian population is largely bilingual, being equally fluent in English and French. Creole is also spoken and understood by everyone.
Common Law for corporate matters.
The Companies Act 2001.
Financial Services Act 2007.
Finance (Miscellaneous Provisions) Act 2012.
A Company holding a Category 2 Global Business License which is similar to a British Virgin Island International Business Company and is non-resident for tax purposes.
Submission of the Memorandum and Articles of Association and a Certificate from the Registered Agent confirming compliance with the requirements of the Ordinance. The application must be supported by a Legal Certificate issued by a local Lawyer certifying that local requirements have been complied with. Finally, directors and shareholders must execute consent forms and these must be filed with the Registrar of Companies.
Companies holding a Category 2 Global Business License cannot trade within the Republic of Mauritius.
A company incorporated in the Republic of Mauritius has the same powers as a natural person.
The legislation is in English; the documentation may be expressed in any language but must be accompanied by a certified English translation.
Any name that is identical or similar to an existing company or any name that suggests the patronage of the President or the Government of Mauritius.
English or French.
The following names or their derivatives: assurance, bank, building society, Chamber of Commerce, chartered, co-operative, government, imperial, insurance, municipal, royal, state or trust or any name which in the opinion of the Registrar suggests the patronage of the President or the Government of Mauritius.
Limited, Corporation, Incorporated, Public Limited Company, Société Anonyme, Société Anonyme à Responsabilité Limitée, Sociedad Anónima, Berhad, Proprietary, Naamloze Vennootschap, Besloten Vennootschap, Aktiengesellschaft or the relevant abbreviations.
The usual authorised share capital is US$ 100,000 with all of the shares having a par value.
Registered shares, preference shares, redeemable shares and shares with or without voting rights.
A Company holding a Category 2 Global Business License does not pay any tax on its world-wide profits to the Republic of Mauritius.
On 30th of June of every year, have to pay renewal fee to FSC and Registrar of Companies.
Companies holding a Category 2 Global Business Licence are required to maintain financial statements to reflect their financial position. Annual Accounts must be filed with the authorities within six months of the balance sheet date.
Minimum one, who may be natural person or a body corporate.
The minimum number of shareholders is one. Any change in the beneficial ownership/ ultimate beneficial ownership must be notified to the Financial Services Commission in Mauritius within one month.