Mauritius

Here's a more comprehensive summary of the differences between GBC 1 and GBC 2 companies in Mauritius:

GBC 1 (Global Business Category 1) Companies:

1. Residency and Taxation:

GBC 1 companies are considered residents of Mauritius for tax purposes.

They are subject to a flat-rate tax of 15% on their chargeable income.

They benefit from a Deemed Foreign Tax Credit (DFTC) of 80%, resulting in an effective tax rate of 3%.

They can apply for a Tax Residence Certificate (TRC) and access Mauritius' network of Double Tax Treaties.

2. Requirements:

GBC 1 companies must establish more substance in Mauritius, including having at least two directors residing in Mauritius who are qualified and independent.

Their principal bank account must be in Mauritius.

Accounting records must be maintained in the registered office in Mauritius.

Financial statements must be prepared and audited in Mauritius.

3. Dealings with Mauritian Residents:

GBC 1 companies may have dealings with Mauritian residents but require prior authorization from the Financial Services Commission (FSC).

4. Permitted Activities:

GBC 1 companies can engage in a wide range of business activities, including those described in their business plan submitted to the FSC.

GBC 2 (Global Business Category 2) Companies:

1. Residency and Taxation:

GBC 2 companies are not considered residents in Mauritius for tax purposes.

They are not liable to be taxed by the Mauritian government.

They are not eligible to benefit from the Double Taxation Treaties network.

2. Requirements:

GBC 2 companies are expected to maintain a Registered Agent in Mauritius at all times, and only management companies can act as Registered Agents.

3. Dealings with Mauritian Residents:

GBC 2 companies are prohibited from dealing with Mauritian residents.

4. Permitted Activities:

GBC 2 companies are more restricted in the types of activities they can engage in. They are generally barred from engaging in certain activities, including banking, financial services, and holding or managing investment funds.

In summary, the main differences between GBC 1 and GBC 2 companies in Mauritius relate to their tax residency, tax obligations, requirements for substance in Mauritius, dealings with Mauritian residents, and permitted business activities. GBC 1 companies are residents, subject to a low tax rate, and have more flexibility in their activities, while GBC 2 companies are non-residents, exempt from taxation but have more restrictions on their operations. The choice between GBC 1 and GBC 2 depends on a company's specific objectives and tax planning requirements.

2 mins video2 mins video Offshore Company has total exemption/low tax. In most jurisdictions/countries, no filing of accounts or submitting of annual returns is required after the offshore company has been incorporated. You can set up an offshore company in many jurisdictions, in many regions around the world, with no restriction based on your nationality, Many banks all over the world allow you to open a bank account for your offshore company and then do business internationally. The laws of almost all jurisdictions/countries we offer protect the confidentiality of the shareholders, directors and offshore company.

How to set up an offshore company

Step 1 Initially, our relationship managers will ask you to provide detailed information for all shareholders and directors, including their names. You can select the level of services you need. This stage normally takes one to three working days, or a working day in urgent cases. Furthermore, give the proposed company names so that we can check the eligibility of the names in each jurisdiction’s/country’s company registry/company house.

Step 2 You settle the payment of our service fee and the official Government fee required for your selected jurisdiction/country. We accept payment by credit/debit card Visa Visa payment-discover payment-american , Paypal Paypal or by wire transfer to our HSBC bank account. HSBC bank account(Payment Guidelines).

See more: Company registration fees

Step 3 After collecting full information from you, Offshore Company Corp will send you digital versions of your corporate documents (certificate of incorporation, register of shareholders/directors, share certificate, memorandum and articles of association etc) via email. The full Offshore Company kit will be couriered to your residential address by express delivery (TNT, DHL or UPS etc).

You can open an offshore bank account for your company in Europe, Hong Kong, Singapore or any other jurisdictions where we support offshore bank accounts! You have the freedom to make international money transfers from your offshore account.

Once your offshore company formation is completed. You are ready to do international business!

Having our own offices or partners in the jurisdictions where we provide our services, we are able to offer straight-forward and competitive prices, thus we can avoid any intermediaries.