Legal entities
Category 2 Licence Global Business Company (GBC2)
Features of GBC2
Governing law	Top
Financial Services Act 2007 and any regulations made from time to time.
Who can apply for a GBC2?	Top
Only a private company registered under the Companies Act 2001
Permissible activities	Top
•   Activities are governed by section 72 of the Financial Services Act 2007. •   Any activity except Financial services including banking, holding or managing a CIS; corporate services and trusteeship services by way of business. •   Activities include passive investment holding, trading, etc...
Qualifications:A holder of a GBC2 still qualifies if it:	Top
•   Opens and maintains with a bank an account in foreign currency. •   Holds any share, debenture, security or any interest in or otherwise deals or transacts with another GBC company. •   Enters into a business relationship with the holder of a Management Licence or law practitioner or qualified auditor in Mauritius.
Taxation features	Top
•   The effective corporate tax rate of GBC2 is zero. A GBC2 is not tax resident in Mauritius. •   GBC2 is exempt from all forms of taxation in Mauritius.
Conversion	Top
GBC2 can be converted into GBC1 and vice versa.
Meetings	Top
•   Meetings can be held anywhere in the world.
Double Taxation Treaty Benefits	Top
GBC2 companies cannot benefit from the double taxation avoidance treaty network of Mauritius .
Statutory features for GBC2	Top
Stated capital No minimum requirement
Denomination of stated capital Freely convertible currencies and no Mauritian rupee
Constitution recommended
Par value shares yes
Registered office In Mauritius
Who can be a director An eligible individual Corporate directors are not allowed
Foreign directors allowed yes
Minimum no. of directors 1
Minimum number of resident directors no
Company secretary The management company at all times
Auditor no
Annual returns No requirement for filing at ROC
Audited accounts No requirement for filing at ROC or FSC
Tax returns No requirement for filing at the MRA
Register of members, directors and officers To be kept at registered office
Register of charges and interests To be kept at registered office
Distributions No restrictions as long as solvency test requirements are met
Is govt approval required for transfer of shares no
Can the company have more than one bank a/c and if yes, in different countries yes
Mauritian rupee a/c no
Meetings Anywhere in the world
Statutory fees	Top
FSC processing fees: USD 100
FSC annual licence fee: USD 235 payable for periods starting 1 st July to 30 th June of next year
ROC annual fees: USD 65 payable before 20 th January of every year for period covering 1 st January to 31 st December of same year
What Are The Distinguishing Features of a Category 2 Global Business Licensee?	Top
•   Not Resident for tax purposes; •   Business with residents is not possible; •   Audited financial statements need not be filed; •   Records are not available to the public; •   Use of DTAs is not possible; •   Corporate Directors are allowed; •   Bearer shares are not allowed; •   No minimum share capital required; •   No Mauritian resident may hold a beneficial interest in a GBC 2
What May a Global Business Category 2 Licensee Own or Not Own?	Top
•   may hold shares in another GBC 2; •   may hold shares in a GBC 1; •   may not hold shares in a Management Company; •   may not hold property in Mauritius; •   may not have a MUR bank account.
GBC2 Permissible activities	Top
•   Non financial consultancy •   IT services •   Logistics •   Marketing •   Shipping •   Ship Management •   Trading - non financial •   Passive Investment Holding •   One off transaction using a Special Purpose Vehicle (e.g. registration of a foreign aircraft; etc.) •   Such other activity as may be approved by the Commission