Licence MC19000231 · FS-3.1A
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Regulatory Framework

The legislation governing the Mauritius Global Business Industry, and the entities it makes possible.
The Legislation

The framework governing Global Business in Mauritius.

The regulatory framework governing the Mauritius Global Business Industry comprises the following legislation.
The Companies Act 2001
The Financial Services Act 2007
The Finance Act 2018
The Trusts Act 2001
The Income Tax Act 1995
The Foundations Act 2012
The Protected Cell Companies Act 1999
The Securities Act 2005

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Licensed Entities

The most popular entities licensed by the FSC of Mauritius.

Global Business Corporation (GBC)

Introduced through the Finance Act 2018, the GBC has similar features to the former GBC1. It is a Mauritius tax-resident company limited by shares, governed by the Companies Act and issued with a Global Business Licence by the FSC under the Financial Services Act. Its activities are usually conducted outside Mauritius, but it must comply with substance requirements to satisfy its tax residency and avail of the benefits of Double Taxation Avoidance Treaties with over 40 countries. The GBC may be used for holding, trading or consultancy. Following the 2018 and 2019 reforms, the effective corporate tax rate is determined by activity, holding (0% to 3%), trading (3%) and consultancy (15%).
Replaces the former GBC2 structure. Both the old GBC2 and the new AC are exempt from corporate taxation in Mauritius; however, the AC must be centrally managed and controlled outside Mauritius to be exempt. The AC may be used for trading or consulting services, or any authorised activity as determined by the Financial Services Act.
A single legal entity that may be segregated into separate cells, such that the assets and liabilities of each cell are legally separate from those of any other cell. Governed by the Protected Cell Companies Act 1999, PCCs are mainly used for asset holding, structured finance, collective investment schemes and closed-end funds, insurance business and external pension schemes. A PCC simplifies overall administration and reduces operating cost.
Incorporated under the laws of Mauritius, generally as a private company limited by shares, and licensed as a Global Business Corporation by the FSC under the Financial Services Act 2007. A CIS must also seek authorisation from the FSC under the Securities Act 2005 to operate as a closed-ended fund, and pursuant to the Securities (Collective Investment Schemes and Closed-ended Funds) Regulations 2008 to operate as a Professional Collective Investment Scheme (PCIS).

Trusts and foundations for wealth structuring.

Mauritius Trust

Any trust set up in Mauritius is governed by the Trusts Act 2001. A trust is created by way of a Trust Deed, and there is no obligation to register a Trust Deed in a registry. Every Mauritius Trust is tax exempt in Mauritius, unless the Settlor or the beneficiaries are tax resident in Mauritius. A Mauritius Trust is managed by a corporate trustee, which is regulated by the FSC under a Management Company licence.
Introduced through the Foundations Act 2012 and, unlike a trust, must be registered in the Mauritius Registry. The Foundation qualifies as a legal entity with all the relevant key characteristics, making it an efficient structure for succession planning, commercial activities or charitable purposes. A Foundation can be tax resident or non-tax resident in Mauritius, it is not tax resident if the Founder and all beneficiaries are non-tax resident in Mauritius.
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