Global Business Company (GBC) in Mauritius

Definition, advantages, key Figures, and incorporation guide

The Global Business Company (GBC) is among the most popular legal structures for international investors who see Mauritius as a hub for their global activities. With its attractive tax benefits, robust regulatory framework, and strategic location, the GBC provides a reliable and effective way to expand business beyond Mauritius, while enjoying the advantages of a stable and well-recognized jurisdiction.

In this article, we’ll take a closer look at what a GBC is, its key benefits and obligations, some essential figures, and the steps to set one up with the support of C&S Secretarial Services.

1. What is a Global Business Company (GBC)?

A Global Business Company (GBC) is a tax-resident entity incorporated or registered in Mauritius and licensed by the Financial Services Commission (FSC). It is primarily intended for international operations, allowing businesses to benefit from Mauritius’ network of Double Taxation Avoidance Agreements (DTA) with over 45 countries.

In the past, two categories of licenses existed: GBC1 and GBC2. However, following sector reforms, all new entities are now registered under a single GBC framework with unified regulations.

The GBC operates under the Financial Services Act 2007 and must comply with stringent requirements on economic substance and local management.

2. A pillar of the Mauritian Economy

GBCs play a central role in Mauritius’ economy and financial sector. The latest statistics highlight their strategic weight:

USD 741 billion: total assets held by GBCs in 2022 (source: FSC)
8.4% of GDP: contribution of the global business sector to the national economy (2022 forecast)
MUR 83.68 billion: outstanding bank loans to GBCs in December 2023
MUR 78.06 billion: gross national savings including GBCs (2017)

Their activity also generates significant indirect impact: creation of local jobs, stimulation of other financial sub-sectors, increase in foreign reserves, and boost to the economy through services purchased from Mauritian providers (management, accounting, legal).

3. Tax advantages of a GBC in Mauritius

The GBC tax regime is one of the most competitive globally:

A nominal tax rate of 15%.
An 80% partial exemption on certain income sources (dividends, interest, royalties, financial services profits), reducing the effective tax rate to 3%–3.4% (including the 2% Climate Levy, if applicable).
No withholding tax on dividends, interest, or royalties.
No capital gains tax.
No restrictions on foreign currencies.

This tax framework is reinforced by Mauritius’ extensive network of tax treaties, a major advantage for international groups.

4. Regulatory and compliance obligations

To retain its license and benefits, a GBC must meet specific obligations:

Appoint at least two resident directors in Mauritius.
Maintain a local bank account.
Hold board meetings in Mauritius.
Have a registered office in Mauritius.
File audited annual financial statements with the FSC.
Comply with economic substance rules, demonstrating that the company’s effective management takes place in Mauritius.

5. Possible Activities for a GBC

A GBC can engage in a wide range of international activities, such as:

Cross-border trade and distribution
Fund management
Financial or professional services
Asset holding and management
Structured financing operations

Certain activities (banking, insurance, regulated financial services) require additional licenses issued by financial authorities.

6. Setting up a GBC in Mauritius

The incorporation of a GBC involves three main stages:

Onboarding and due diligence

Collection and verification of legal and financial documents
Project analysis to ensure regulatory compliance

Company incorporation

Registration with the Registrar of Companies
Drafting of the Constitution tailored to the company’s needs

Obtaining the GBC license

Submission of the application to the FSC for approval
Implementation of regulatory obligations (directors, registered office, audits)

Important: The law requires that all procedures be carried out through a licensed Management Company and a company secretary.

7. Differences between a GBC and other structures

Mauritius offers other legal forms suited to investors’ needs:

Domestic Company: for businesses operating mainly in Mauritius.
Authorised Company: for foreign investors wishing to conduct activities exclusively outside Mauritius and who are not considered Mauritian tax residents.

The choice of structure depends on your strategy, target markets, and tax objectives.

8. Why choose C&S Secretarial Services to create your GBC?

With proven expertise and a reliable network of partners, C&S Secretarial Services supports clients at every stage of creating and managing a GBC. Our services include:

Liaising with the Registrar of Companies and the FSC
Drafting the Constitution and legal documents
Appointment of directors and provision of a registered office address
Managing regulatory and administrative obligations
Organizing board meetings and drafting minutes
Assistance with opening bank accounts and setting up audits

Our goal is to make your process smooth, compliant, and efficient so that you can focus on your international operations.

In conclusion

The Global Business Company (GBC) is a powerful vehicle for international investors and entrepreneurs seeking to leverage Mauritius as a gateway to global opportunities. It brings together attractive tax benefits, a robust regulatory framework, and seamless access to international markets.

With C&S Secretarial Services as your partner, you gain expert guidance at every step, from incorporation to the day-to-day management of your company, ensuring a smooth and compliant business journey.

Get in touch with C&S Secretarial Services today and set up your GBC in Mauritius with a partner who knows the regulatory and tax landscape inside out.