A Company with a Category
1 Global Business License, usually tax resident and able to take advantage
of tax treaties. Net tax rate can be 3%. Annual audit and
filing of returns required.
A GB1 Company (GB1) is a company incorporated in Mauritius
that holds a valid Category 1 Global Business License and carries out
one of the activities approved by the regulatory authority, the
Financial Services Commission (FSC). GB1's are regulated by
the Companies Act 2001.
Examples of approved activities:
International trading investment holding, operational headquarters,
offshore insurance, offshore funds management, IT services,
international employment service.
Key Features
GB1 Companies are taxed at the same rate as other domestic
companies: a flat
rate of 15%, but they will have access to tax credits which will
bring that tax rate down to very attractive levels;
No withholding tax on outward remittances;
No capital gains tax;
No exchange control requirements;
Audited accounts must be filed with FSC every year;
GB1's can also be granted access to the Double Taxation network of
Mauritius if they demonstrate their Mauritian residence. This can be
done by being tax resident and by demonstrating that management and
control is exercised in and from Mauritius. The Mauritius Tax
Authority can issue a Tax Residency Certificate if the following
conditions are satisfied:
The Company must:
have at least one Mauritian resident Director;
have a Mauritian resident Secretary;
have all its Meetings held in and chaired from Mauritius although
telecom linked meetings are permitted.
have its registered office in Mauritius;
hold its books and records in Mauritius;
have a bank account with in Mauritius;
Potential uses
Ideal investment vehicle for example for growth of operations in
Africa or the region, for major investment projects or for long term
investments on stock markets;
Ideal for holding companies;
GB1's can be used to hold intellectual property and to receive
royalties.
Incorporation Fees:
Government
Incorporation Fee
$ 500
Registrar of
Companies Fee*
$
300
Frontière Finance Fee
$1
160
Legal and Constitutive documents
$ 350
Total Incorporation Fees
$ 2 310
*This fee is not charged if
the company is formed between 20 and 31 January on any year, as it will be
regarded as the annual fee.
These fees
include:
·Name
reservation and registration
·Provision of
Standard Constitution
·All filing of
documents and application forms
·Collection and
collation of information, documents and references
·Provision of
Certified copies of Certificate of Incorporation and
·Use of nominee
companies to facilitate incorporation
AnnualStatutory Maintenance Fees:
Government License
$1 500
Government Registration Fee
$ 300
Registered Office, Company Secretary,
One Director
$1 740
Total Annual Fees (minimum)
$3 540
Annual fees are payable in
at the beginning of each year from date of incorporation.
These fees
include:
·Maintenance of
a Company File including original documentation
·Maintenance of
a File of Minutes
·Either first
board meeting or one annual thereafter
