A GBC 1 is licensed by the Financial Services Commission of Mauritius. It is widely used as SPV for funds or investment holding. A GBC 1 can elect to be qualified as a tax “resident” in Mauritius and thus benefit form the Double Taxation Agreement Network that Mauritius has signed with some 36 countries like India, China, UK, France, South Africa, Russia, etc..
This offers significant opportunities for international structuring and tax planning. There is no restriction on the type of business activities a GBC 1 is authorized to conduct. It can be listed on any Stock Exchange. At least one of the Directors (2 if it applies for Tax Residency Certificate) of a GBC 1 must be resident in Mauritius at all times – we do provide nominee services. All the shareholders can be non-resident.
In order to benefit from the Double Taxation Relief, the GBC 1 is required to be tax resident in Mauritius, that is its central management and control must be exercised in Mauritius. The applicant company is required to:
Once all the necessary information is available, it normally takes approximately 2 to 3 weeks to establish a GBC1. Applications are dealt with by the FSC on a first come first serve basis.
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