A company holding a Global Business Licence Category 1 (also commonly referred to as GBC1 or GBL1) may either be locally incorporated or be registered as a branch of a foreign company. A foreign company may be re-domiciled and continue as a Mauritian GBC 1 if the foreign law so permits.
A GBC1 demonstrating substance can benefit from Mauritian tax treaties. The main requirements are:
Since 1st January 2015, the Financial Services Commission has given effect to additional requirements for determining ‘Management and Control’ of a GBC 1 for the purposes of tax residency. A GBC 1 must satisfy AT LEAST ONE of the following:
Careful structuring and on-going management is required to benefit from tax treaties.