Business Structure GBC1 or GBC 2 ?

Hi Dollysowamber,

It will depend on the nature of the business and taxation. Both have different regimes. For GBC 2,  you will not be able to benefit from neither Mauritius tax regime nor from existing tax treaties with other countries.

Also, GBC 2 doesn't offer residency status, it seems that "such companies are prohibited from having a person resident in Mauritius as stakeholders or beneficial owners."

Source : abcmanagementservices.com/wp-content/uploads/2015/03/GBC2-fact-sheet.pdf

I will recommend that you get in touch with the FSC to enquire, they are the regulatory body for such companies https://www.fscmauritius.org/en/others/contact-us

Also, get in touch with a professional management company or a certified accountant (CIMA) for guidance.

Regards,
A

Good Morning Dolly,

I would suggest if you could get in touch with me so that I can assist you on same. I could have given you the solution in an email. But having a conversation will make you understand better and throw some lights.

I can be reached on 5XXX

Cheers

Shameer

Shameer, please explain directly on the forum, this discussion is of interest to everyone.

Hasn't the tax rebate for GBC1 been cancelled ?

Here is a very quick overview:

The GBC structure has fallen away, you now have the options to register a GBC:
As defined under the Financial Services Act of Mauritius, a GBC is a company engaged in qualified global business and which is carried on from within Mauritius with persons all of whom are resident outside Mauritius and where business is conducted in a currency other than the Mauritian rupee.

Or,
You can also look at an Authorised Company which does not have a physical presence in Mauritius and not considered as tax resident in Mauritius and as such, its income is not subject to tax in Mauritius, unless such income is derived from Mauritius.

If you need assistance in setting up a company in Mauritius please send me a message and we will be happy to assist.

Hello dollysowamber,

As Flaffie informed you, the old GBC 1 and 2 don't exist any more.

A few points to note for you when choosing between the AC and GBC now:

Only the GBC can be used to utilise the tax treaties, both regional and bilateral, which can be a big drawer for Mauritian companies.
The AC cannot be used for an investor permit if you are thinking of relocating.
The GBC has far more credibility in a global context, especially when dealing with tax authorities as there is substance in Mauritius.
The GBC is however lengthier to set up, more expensive and pays tax when the AC does not.

It therefore comes down to your specific circumstances, the country that the shareholders live, the activity of the company, the type of income that the company will receive etc.

Best,

Philip