A GBC1 is a company that is resident in Mauritius for tax purposes. … A GBC2 is not considered resident in Mauritius for tax purposes and therefore is not liable to tax in Mauritius.
What is a GBC2 company?
A GBC2 will be considered as conducting business outside Mauritius notwithstanding the fact that: It opens and maintains a bank account in Mauritius; It holds shares, debentures or other interest or otherwise deals or transacts with a corporation holding a Global Business Licence.
Can a GBC2 hold a GBC1?
A GBC1 has access to and can benefit from Mauritius’ network of Double Taxation Avoidance Treaties, while a GBC2 (also known as a International Company) cannot.
What is GBC Mauritius?
As defined under the Financial Services Act of Mauritius, a GBC is a company engaged in qualified global business and which is carried on from within Mauritius with persons all of whom are resident outside Mauritius and where business is conducted in a currency other than the Mauritian rupee.
What is Category 1 Global Business License Mauritius?
A company holding a Global Business License Category 1 (also commonly referred to as GBC1 or GBL1) may be incorporated in Mauritius or be registered as a branch of a foreign company. A foreign company may be re-domiciled and continue as a Mauritian GBC 1 if the foreign law so permits.
What is a domestic company in Mauritius?
A domestic company, also referred to as a local company, is defined as being a company incorporated under the laws of Mauritius and governed by the Mauritius Companies Act 2001. The domestic company is resident in Mauritius and accesses to the Double Taxation Agreements (DTAs) which Mauritius has in place.
Can a GBC conduct business in Mauritius?
Global Business Company & Authorised Company
The GBC may conduct business in Mauritius provided that the majority of its transactions is done outside of Mauritius.
What is an Authorised company in Mauritius?
AUTHORISED COMPANY. An Authorised Company is an entity where the majority of shares or voting rights or the legal or beneficial interest are held or controlled, as the case may be, by a person who is not a citizen of Mauritius.
What is a global business license?
New Global Business Licence (GBL) … A new licence, termed a Global Business Licence (GBL), will be mandatory if a foreign-controlled company wishes to conduct its business principally outside Mauritius or with such category of persons as may be specified by the FSC.
What is a global business?
A global business is a company that operates facilities (such as factories and distribution centres) in many countries around the world. This is different from an international business, which sells products worldwide but has facilities only in its home country.