Does Mauritius still have GBC 1 and GBC 2?

Global Business Companies used to be of two types, namely the Category 1 Global Business Company (GBC1) and the Category 2 Global Business Company (GBC2). However, with the enactment of the Finance Act 2018 (the Act), the GBC1 and GBC2 regimes have been abolished (phased abolishment) and the following have been introduced:

• Global Business Licence (Global Business Company)
• Authorised Company

All GBC1 are now GBC

• All GBC1 incorporated on or before 16 October 2017 were grandfathered and continued to hold their GBC1 licence up to 30 June 2021. As from 01 July 2021, the licence was automatically converted from a GBC1 to a Global Business Licence. 
• All GBC1 incorporated after 16 October 2017 were automatically converted to a Global Business Licence as from 01 January 2019.

All GBC2 are now Authorised Companies

• All GBC2 incorporated on or before 16 October 2017 were grandfathered till 30 June 2021. As from 01 July 2021, the company had the option to convert into the new structure or be dissolved.
• All GBC2 incorporated after 16 October 2017 were grandfathered till 30 December 2018. As from 01 January 2019, the company had the option to apply for the Authorised Company licence or be dissolved.

Find out more about Global Business Licence and Authorised Company on our website.