Companies

There are three main types of corporate vehicles available namely:

• public company
• private company
• foreign company (i.e. branch of a company established in a foreign jurisdiction) 

There are 2 types of Global Business Entities:

• Category One Global Business Licence company (GBL1)
• Category Two Global Business Licence company (GBL2)

Category One Global Business Licence company (GBL1)
Category 1 Global Business Licence (GBL1) companies can be set up to carry out any Qualified Global Business activity. The Financial Services Development Act 2001, as amended , defines Qualified Global Business as any of the following activities which are carried out within Mauritius with persons who are resident outside of Mauritius in a foreign currency:

• Aircraft financing and leasing
• Assets management
• Consultancy services
• Employment services
• Financial services*
• Funds management
• Information and communication technology services
• Licensing and franchising
• Logistics and or marketing
• Operational headquarters
• Pension funds
• Shipping and ship management
• Trading
  
  Financial Services include the following activities:
  • Factoring business 
  • Leasing business
  • Mortgage finance
  • Retirement benefit schemes
  • Such other financial services or financial business activities as may be approved by the Commission

Useful Facts Relating To Mauritius (GBL1) Companies:

• Incorporation and FSC approval takes minimum of 6 weeks.
• Complete business privacy and confidentiality.
• Companies must have registered office in Mauritius.
• No exchange control.
• Minimum of two directors (for tax residency purposes) and one shareholder.
• No public record is maintained as to the identity of shareholders or directors.
• No liability to capital gains tax.
• No withholding tax on dividends.
• Companies incorporated in another jurisdiction may migrate to Mauritius.
• Companies need not have a constitution but may have one.
• The Board of Directors can determine and recommend to shareholders for amendment by resolution, the rights attaching to classes of shares.

Category Two Global Business Licence company (GBL2)
Category 2 Global Business Licence (GBL2) companies are governed by Companies Act 2001 and Financial Services Development Act 2001. A GBL2 company is a private company which does not conduct business with persons resident in Mauritius nor conduct any dealings in Mauritian currency.

GBL2 companies are not authorised to conduct the following activities:

• Banking, Insurance or Reinsurance
• Financial services, fiduciary services or act as a functionary in any investment company or any collective investment scheme
• Corporate services or nomineeship services or trusteeship services

Useful Facts Relating To Mauritius (GBL2) Company:

• Exempt from tax in Mauritius.
• Can be used as Trade Offices.
• Incorporation within 5 days.
• Business privacy and confidentiality.
• Minimum of one director (can be a corporate).
• Minimum one shareholder (can be individual or corporate).
• Share capital in any currency (except Mauritian Rupees).
• Different types of shares can be issued.
• Profits are exempt from tax.
• Migration allowed.
• No annual returns or accounts.