Mauritius GBC1 Company

If properly structured, a Mauritius Global Business Category 1 (GBC1) Company can be used by foreign companies to structure investments and projects in countries with which Mauritius has signed double tax agreements, including China, India, Singapore and the UK. The following information will help you determine whether a Mauritius GBC1 company is the optimum corporate structure to fulfill your international business objectives:

A Mauritius GBC1 is considered tax-resident in Mauritius, and corporate profits are taxed at 15%. However, tax credits are available which may bring the effective tax rate down to 3%. A GBC1 is not subject to capital gains tax or withholding tax.

Unlike a Mauritius GBC2 Company, a GBC1 enjoys access to over 30 double tax treaties signed with countries around the world.

There are no minimum capital requirements for a Mauritius GBC1.

In accordance with the Mauritius Companies Act 2001, a Mauritius GBC1 requires a minimum of two resident directors in order to access Mauritius' double tax avoidance treaties. Corporate directors are not permitted.

In accordance with Mauritius accounting and tax law, a Mauritius GBC1 is required to submit annual audited financial statements to the Mauritius Financial Services Commission and income tax authorities.

A Mauritius GBC1 is required to conduct principle bank accounts and transactions through a Mauritius corporate bank account.

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Mauritius is poorly ranked as the world's 57th most competitive economy in the World Bank's Global Competitiveness Report 2009-2010.