A GBC2 company is tax exempt in Mauritius.
A GBC2 is a private company which conducts business with non-residents. It provides for a variety of investment holdings and trading activities.
Capital and Shares
- No minimum capital requirement but at least one share must be issued and paid up;
- Fractional shares are allowed but bearer shares are not permitted;
- Par value shares if any may be stated in more than one currency;
- Shares and capital may be denominated in any convertible currency;
- Registered shares and a variety of shares such as preferred, redeemed and fractional shares are allowed.
- Does not pay tax on its worldwide profits to Mauritius;
- No income tax, no withholding tax and no capital gains tax;
- No exchange control requirements;
- No access to Double Taxation Agreements.
- Must at all times have a registered office and a registered agent in Mauritius, where its statutory records must be kept.
- At least one shareholder required at all times;
- Shareholders may be individuals or corporate entities;
- Nominee shareholders are allowed, although disclosure of beneficial owners has to be made to the FSC.
Directors and Officers
- Minimum of one director, who may be a natural person or body corporate;
- A company secretary is optional.
- Shareholders’ and directors’ meetings may be held in or outside Mauritius;
- No annual general meeting of shareholders is required by law and shareholders’ meetings are optional.
- Required to maintain financial statements or summary to reflect its financial position;
- No requirement for audited financial statements;
- Unaudited accounts must be filed with the FSC within six months of the balance sheet date.
- A GBC2 can be converted into a GBC1;
- A GBC2 may transfer its statutory seat to another jurisdiction;
- A foreign company may transfer its seat to Mauritius and continue as a GBC2 provided this is allowed under the laws of the country in which it was originally incorporated.