Mauritius Offshore Incorporation GBC2

Global Business Company Category 2 (GBC 2)

Mauritius GBC2s are companies incorporated under the Companies Act 2001 with a category 2 Global Business License .A GBC2 is a private entity that conducts business outside Mauritius and may not carry on business in Mauritius (subject to a number of statutory exceptions). A GBC2 may be locally incorporated or registered as a branch of a foreign company. GBC2s are regulated by both Mauritius Companies Act 2001 and the Financial Services Act 2001.

Confidentiality is strictly observed in terms of the FSD Act. 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 documents with the registrar of companies are accessible only to the shareholders of the company. Therefore the identity of the beneficial owner can largely remain confidential. A GBC2 is highly suitable vehicle for holding and managing private assets.

Features of GBC2

• Minimum capital requirement is USD 1
• Fractional shares are allowed while Bearer shares are not allowed
• Shares may be subscribed by nominees
• Minimum one Shareholder and the shareholder may be an individual or corporate
• A GBC2 may acquire, redeem, reissue or purchase its own shares
• Minimum one director who may be individual or corporate
• Appointment of Company Secretary is optional

Merits of GBC2

• Tax exempted therefore the tax cost of a GBC2 is basically the foreign tax suffered
• No withholding tax on dividends
• No capital gains tax
• No stamp duty on transfer of shares
• There is no requirement for Local Resident Director or Shareholder
• Free repatriation of earnings
• Migration of a foreign company to/from Mauritius is permitted
• Not required to file accounts with the authorities
• Shareholders and Directors meeting can be held anywhere
• Nominee shareholder and guaranteed confidentiality facilitates complete privacy

Limitations

• GBC2 companies do not have access to the network of Double Taxation Agreements of Mauritius.
• It is not permitted to raise capital from the public
• It cannot provide financial services or other services as fiduciary in any investment fund or any collective investment scheme.
• It cannot carry out business of company formation, administration and management or provide professional nominee or trusteeship services.

Learn more about Mauritius Offshore Incorporation GBC1