A Global Business corporation (Category 1) is a company incorporation in mauritius which undertakes any of the following activities listed in the Second Schedule of the FSDA 2001 which is carried on from within Mauritius with persons all of whom are resident outside Mauritius and which is conducted in foreign currency:
– Aircraft financing and leasing
– Assets management
– Consultancy services
– Employment services
– Information and communication technologies
– Licensing and franchising
– Logistics and or marketing
– Operational headquarters
– Pension funds
– Shipping and Shipping Management
– Any other activity as may be approved by the Commission
This type of company is qualified to take protection of the tax treaties to which Mauritius is a party if it comes within the definition of a resident under the taxation laws.
* A GBC 1 is required to file with the Financial Services Commission within six months after the close of its financial year, annual audited financial statements prepared in accordance with the International Accounting Standards or internationally recognised accounting standards.
* The GBC 1 may be set up by direct company incorporation in mauritius, or by registration of a branch of a foreign company, or by way of continuation where this is allowed by the law in the country of origin.
* A branch of a foreign company may have access to Mauritius’ tax treaties provided that the local tax authorities are satisfied that effective control and management of the foreign company is in Mauritius.
* The facility of continuing a foreign company registered in a foreign jurisdiction as a GBC 1, and so permitting existing holdings of the foreign company in a country with which Mauritius has a double taxation treaty to benefit from relief under that treaty, has proved attractive to a number of major investors.
* A GBC 1 may be unlimited or limited by shares or by guarantee.
* A GBC 1 may be registered as a Limited Life Company or a Protected Cell Company.
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