A company holding a category 2 global business licence (GBL2) is a flexible, cost-effective, tax exempt 'offshore' business entity that cannot make use of Mauritius' extensive tax treaty network.
There is no minimum capital requirement but at least one share must be issued and paid up.
Shares and shareholders
Registered shares, preference shares, redeemable shares and shares with or without voting rights.
Par value shares may be stated in more than one currency.
Fractional shares are allowed.
Bearer shares are not allowed.
Shares may be subscribed by nominees.
Shareholders may be individual or corporate.
Beneficial owners cannot be locally resident.
May acquire, redeem, reissue or purchase it's own shares.
The directors are required to ensure that the company meets the solvency test after making distributions. The solvency test is satisfied where the company is able to pay its debts as they become due and the value of the company's assets is greater than the sum of the value of its liabilities and its stated capital.
Must have a minimum of one director who may be either a natural person or a body corporate.
Must have at all times a registered office in Mauritius where accounting records, statutory documents including register of members, debenture holders, and officers are kept. It is recommended that a Register of Charges and Register of Interests are also kept.
A company secretary is optional.
May not hold any bank account in Mauritian currency.
May be held anywhere in the world.
No need to prepare accounts in accordance with internationally accepted accounting standards: only a financial summary is needed.
No audit is required.
Must file a financial summary with the Financial Services Commission on an annual basis.
A GBL2 company is not considered to be resident in Mauritius and is not liable to tax. As a non-resident company, it doesn't have access to any of the double taxation agreements concluded by Mauritius.
A foreign company may transfer its seat to Mauritius and continue as a GBL2 provided this is allowed under the laws of the country in which it was incorporated.
The company may transfer its statutory seat to another jurisdiction.
A GBL2 company can be converted into a GBL1.
No person or body is authorized to disclose information or present documentation to any court, tribunal, committee of inquiry or other authority in Mauritius unless ordered to do so by a court of law on application by the Director of Public Prosecution for inquiry into the trafficking of narcotics and dangerous drugs, arms trafficking or money laundering as defined under existing legislation.
The identity of the beneficial owner needs to be disclosed only to the registered agent and to the banker if a bank account is required in Mauritius.
The records kept by the Registrar of Companies may only be inspected by the shareholders of the company.
Through the use of Mauri Experta nominee shareholders, the identity of the beneficial owners can remain confidential.