APGI - Mauritius Global Business Company GBC1

APGI - Mauritius Global Business Company GBC1

From €5600.00/US$7000.00

Mauritius Global Business Company (Type 1) Overview

Mauritius GBC1s are companies incorporated under the Mauritius Companies Act 2001 (which hold a category 1 Global Business Licence). Mauritius GBC1 Companies (unlike GBC2 companies) are resident in for Mauritius for taxation purposes and have access to Mauritius' extensive double taxation avoidance treaty network. Although subject to Mauritian Tax, they benefit from tax credits and a low tax rate (see below). GBC1 companies have commonly been used by foreign business to structure investments and projects with Mauritian double tax avoidance treaty partners, including India, China, Indonesia, Italy, Luxembourg and Thailand.

Fiscal Advantages

• Mauritius taxation on foreign income: 15% (but can be reduced to effective rate of 3% where foreign tax credits apply).
• Mauritian capital gains tax or withholding tax: No
• Minimum annual Mauritius Government License fee (aggregate): US$ 1700

OTHER INCENTIVES FOR A GBC1

• No capital gains tax.
• No limit on the carry forward of tax losses.
• Royalties ,interests and service fees payable to foreign affiliates are allowed as expenses provided they are reasonable and correspond to actual expenses incurred.
• Interests paid on deposits in Banks are tax exempt.
• Dividends paid by a GBC1 are tax exempt.
• Royalties paid to non-residents are exempt.
• No stamp duties ,registration duties or levies.
• Duty concessions on office equipment ,furniture and motor vehicles.

Directors

• Minimum number of directors: 2 required for access to Mauritius tax avoidance treaties.
• Corporate directors permissible: N.
• Local director requirement: yes , 2 required for access to Mauritius tax treaties.
• Publicly accessible records of directors: No
• Location of directors meetings: In Mauritius for tax treaty access.

Shareholders (Members)

• Minimum number of shareholders: 1
• Corporate shareholders permissible: Yes
• Local shareholder requirement: No
• Location of shareholders meetings: Mauritius - by proxy permitted.
• Publicly accessible records of shareholders: No

Beneficial Owners

• Publicly accessible records of beneficial owners: No
• Shares may be held by a nominee on behalf of beneficial owner client : Yes

Company Secretary

• Appointment of Mauritian resident (qualified) Company Secretary: yes

Share Capital

• Standard currency: USD ,GBP or EURO
• Permitted currencies: Any (except Mauritian Rupees)
• Registered shares: Yes (Bearer shares not permitted)

Accounts and Returns

• Requirement to file annual Accounts: Yes ,within 6 months of financial year end.
• Audit requirement: Yes
• Publicly accessible Accounts: No
• Requirement to file annual company return: No
• Requirement to file income tax return : Yes

Other

• Migration/redomiciliation of companies to or from Mauritius: Yes
• Double taxation treaty access: Yes - Mauritius has an extensive double taxation avoidance treaty network.
• Requirements: Registered office and licensed Secretary / Registered Agent in Mauritius.
• Trading restrictions: If duly licensed by the Mauritian authorities, a GBC1 may carry on the business of banking, insurance, reinsurance, fund administration, etc.
• A GBC1 has the same powers as a natural person, including the right to sue and be sued. It is a separate legal entity with limited liability and has perpetual existence.
• Name restrictions: It is prohibited (or requires requisite licence) for a GBC1 name to contain words such as "Bank", "Trust", "Building Society", "Insurance" or which suggest the patronage of any Government. It is prohibited to use a name already in use.
• Language of GBC1 name: While normally in English or French, a GBC1 name can be in any language, but must be accompanied by an approved translation in English.
• A GBC1 is a Mauritius resident for taxation purposes.

Schedule Of Fees

Basic Fees: Belize IBC	€ EURO	$ US DOLLAR
Annual License Fee:	Included	Included
Annual Registered Office fee:	Included	Included
Annual Registered Agent fee:	Included	Included
Incorporation Fees:	Included	Included
TOTAL FIRST YEAR FEES:	€5600	US$7000
Additional Services:	€ EURO	$ US DOLLAR
Corporate Seal	€40	US$50
Open Bank Account in Mauritius	€420	US$525
Power of Attorney	€240	US$300
Certificate of Good Standing	€140	US$175
Notarization per document or set	€140	US$175
Apostille per document or set	€180	US$225
Nominee Director	---	---
Nominee Shareholder	---	---
Annual Fees:	€ EURO	$ US DOLLAR
Maintenance Fee	€3400	US$4250
Nominee Director	€420	US$525
Nominee Shareholder	€420	US$525