Mauritius Global Business License (GBL).

Board of Directors

It is mandatory for the board to have 2 resident directors, which will be provided by JY Global (BVI) Limited.

Disclosure requirements

• The company must file its audited financial statements and tax return within 3 months from its balance-sheet date

Local presence (optional, in the long term)

• As a strategy, the company may establish a local presence by employing local staff, shown through a Mauritian support office

Taxation

• No tax on income and dividends
• No capital gains and inheritance tax
• No exchange control restrictions
• Free repatriation of profits, dividends and capital
• 100% foreign ownership
• No stamp duty and no capital duty on the issue of share capital
• Chargeable income taxed at a corporate rate of 15%, reduced to a net effective rate of 3% or less

The standard corporate income tax rate in Mauritius is 15%, but a company holding a Category 1 Global Business Licence benefits from an 80% tax credit, reducing the effective rate to 3%. This can be further reduced — by offsetting tax already suffered outside Mauritius — to as low as 0%. Tax is payable after the audited financial statements are submitted, within 6 months from the balance-sheet date; JY Global, as administrator, arranges all payments and filings.

Steps to obtain licence

1. 1
   Application and reservation of the company name
2. 2
   Preparation and submission to the Financial Services Commission (FSC) for the Global Business Company licence application
3. 3
   Incorporation, including statutory documents for the appointment of directors and secretary
4. 4
   Providing a standard client constitution (M&A) for the company
5. 5
   Opening the first corporate bank account for the company in Mauritius
6. 6
   Liaising with our lawyer for the legal certificate required for incorporation
7. 7
   Preparing the statutory file
8. 8
   Preparation of a company seal / stamp
9. 9
   Holding the first meeting and preparing first minutes, initial share issuance, appointment of initial officers, and the registers of members, directors and secretaries