MAURITIUS Global Business Company("GBC II")
A company holding a Category 2 Global Business License is often used for trading and investment. GBC II companies are not resident for tax purposes and do not have access to Mauritius' tax treaty network. Beneficial ownership is not disclosed to the authorities.
GENERAL |
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| Type of the company | GBCII | ||
| Common law or civil law | Common Law | ||
| Readymade company available | Yes | ||
| Non-English company allowed | Yes | ||
| Legislations | Companies Act 2001, Financial Services Act 2001 and others | ||
SHARE HOLDERS & DIRECTORS |
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| Minimum number of shareholders or members | One | ||
| Minimum number of Directors | One | ||
| Director and shareholder can be same person | Yes | ||
| Corporate Director or individual Director | Yes | ||
| Corporate shareholder or individual shareholder | Yes | ||
LOCAL REQUIREMENTS |
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| Local Director required | No | ||
| Local shareholder required | No | ||
| Nominee Director | Allowed | ||
| Nominee shareholder | Allowed | ||
| Proxy Director | Allowed | ||
| Proxy shareholder | Allowed | ||
| Registered office required (local) | Yes | ||
| Registered agent required | Yes | ||
| Local or qualified company secretary required | No | ||
| Documents/records/information kept at registered office | Yes | ||
| Any other reporting requirements | None | ||
SHARES & CAPITAL REQUIREMENT |
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| Usual authorized capital | Unlimited | ||
| Minimum paid-up share capital | USD1 | ||
| Standard currency of share capital | USD | ||
| Other permitted currency of capital | USD,EURO,GDP | ||
| Share with or without par value | Both Allowed | ||
| Share paid-up in cash or in consideration | Both Allowed | ||
| Registered share or bearer form | Only Registered Shares | ||
| Share can be issued in different classifications and forms | Yes | ||
| Stamp duty on transfer of share | Minimal (less than USD 25) | ||
| Location of meetings: | Anywhere | ||
CORPORATE BOOKS & RECORDS |
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| Maintenance of company books and records required | Yes | ||
| Place of maintenance of company books and records | In Mauritius + can be outside | ||
| Preparation of accounts required | No | ||
| Filing of accounts/financial statement required | No | ||
| Filing of annual return required | No | ||
| Register of shareholders required | Yes | ||
| Location of register of shareholder | Registered Office | ||
| Register of Directors required | Yes | ||
| Location of register of Directors | Registered Office | ||
| Language used for preparation of Books & records | English | ||
MEETINGS OF SHAREHOLDERS & DIRECTORS |
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| Board Meeting Required | Yes | ||
| Shareholder meeting Required | Yes | ||
| Place of board meeting | Anywhere | ||
| Place of share holder meeting | Anywhere | ||
| Meeting through telephone/electronics means | Yes | ||
| Minutes books of meeting required | Yes | ||
| Place of Minutes Books | Registered Office | ||
CONFIDENTIALITY & PRIVACY |
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| Publicly Accessible of records of Directors | No | ||
| Publicly Accessible of records of shareholders | No | ||
| Publicly Accessible of books of accounts and financial statements | No | ||
| Appearance of name/identity of shareholder and Director in the incorporation documents | Yes (but kept confidential) | ||
| Appearance of name/identity of shareholder and Director in the public records | No | ||
| Bank secrecy | Yes | ||
| Legislation regarding confidentiality and privacy | Yes | ||
| Money Laundering legislation | Yes | ||
TAXATION |
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| Bank Interest Income derived from a bank in offshore jurisdiction taxable | No | ||
| Double taxation treaty access | Exempt | ||
| Capital gain on sale of share in offshore jurisdiction | Exempt | ||
| Capital gain on real estate owned directly or through company in offshore jurisdiction | Exempt | ||
| Capital gain on real estate owned directly or through company outside the jurisdiction | None | ||
| Inheritance tax/estate duty | No | ||
| Withholding tax on payment of dividend to non-resident | No | ||
| Withholding tax on payment of interest to non-resident | No | ||
| Withholding tax on payment of royalty to non-resident | No | ||
| Thin Capitalization Rules | Depends on trading partner coutry's tax laws | ||
| Transfer Pricing Rules | Depends on trading partner coutry's tax laws | ||
| Controlled foreign Corporation Rule | Depends on trading partner coutry's tax laws | ||
| Requirement to file annual return: | Yes | ||
| Group taxation allowed | Exempt from taxation and is licenced by a Government | ||
| Any incentives | No | ||
| Tax base-resident company | Yes | ||
| Deductibility of Losses | Yes | ||
| Tax exemption of liquidation proceeds | Exempt | ||
| Corporate tax rate | Anywhere | ||
| Corporate resident(incorporation/management and control) | No | ||
| Benefit from tax sparing credits | Yes | ||
| Filing of Tax return required | No | ||
| Any other Taxes & Duties | Exempt | ||
MISCELLANEOUS |
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| Doing business with residents and companies allowed | No | ||
| Restrictions on carrying on any business activities outside offshore jurisdiction | Yes - financial services and similar activities are not allowed | ||
| Real Estate property can be owned in offshore jurisdiction | Yes | ||
| Voluntary winding up or winding up through court | Both allowed | ||
| Time frame for winding up | 1 Month | ||
| Any exchange control restrictions | No | ||
| Migration/Redomiciliation of companies to or from Mauritius | Yes to and from | ||
If you require a GBC2 company , please call our Expert Team who can assist you with your requirements. You are invited to call us at (00971) 3245630. You may send your enquiries by email: info@groffshore.ae or by fax at (00971) 3245640.