Mauritius Company Formation: GBC Setup Guide 2026
Mauritius company formation has become one of the more closely examined routes for foreign investors, holding structures, and fund managers who want a tax-resident base with genuine access to double taxation treaties, rather than a purely offshore shell. The jurisdiction built its reputation as an International Financial Centre on the back of the Financial Services Act 2007, which consolidated the legal framework for what is now called the Global Business Company (GBC), and on a Registrar of Companies and Financial Services Commission that publish their fee schedules, director requirements, and licensing conditions openly. For anyone comparing Mauritius against other international company formation jurisdictions, that transparency matters as much as the tax outcome itself.
A key distinction that trips up a lot of first-time researchers is the difference between a Global Business Company (GBC) and an Authorised Company (AC). Both are incorporated under the Companies Act 2001, but only the GBC is treated as tax resident in Mauritius and can access the country’s double taxation agreements; the Authorised Company conducts its business and control outside Mauritius and is not tax resident at all. Choosing the wrong one at the outset can undo the entire tax rationale for setting up in Mauritius in the first place, so this guide treats that distinction as a starting point rather than a footnote.
This guide covers what Mauritius company formation actually involves in 2026: the registration steps through the Corporate and Business Registration Department (CBRD), the licensing process through the FSC, the incorporation and annual fees published by the Registrar, the corporate tax and partial exemption regime administered by the Mauritius Revenue Authority (MRA), and the Occupation Permit routes that let founders live in Mauritius alongside their company. Every fee, rate, and threshold cited below is sourced from an official Mauritius government or regulatory publication, cross-checked against the sources listed in the Verification Summary above, current as of the last-updated date.
What Does Mauritius Company Formation Involve and Why Do Investors Choose It?
Mauritius as an International Financial Centre
Mauritius positions itself as an International Financial Centre built on regulatory quality rather than secrecy. The Financial Services Commission (FSC) is the single regulator responsible for licensing and supervising the non-bank financial services sector, including every entity that wants to conduct business under a Global Business Licence, and it focuses its supervision on market conduct, anti-money laundering and counter-terrorist-financing compliance, and corporate governance standards that meet international norms (Source: FSC, fscmauritius.org). That single-regulator structure is one of the practical reasons Mauritius company formation appeals to investors who need a jurisdiction that can produce a Tax Residence Certificate a foreign tax authority will actually recognise.
The Corporate and Business Registration Department (CBRD), a department of the Ministry of Finance, handles the mechanical side of incorporation: reserving company names, registering the constitution, issuing the Certificate of Incorporation, and maintaining the Register of Companies (Source: CBRD, companies.govmu.org/cbrd). Because CBRD and FSC operate as separate but coordinated steps, a Mauritius company formation always has two approval layers for a Global Business Company: registration with CBRD and licensing by the FSC, both channelled through a Management Company.
The Legal Framework Behind Mauritius Company Formation
The Companies Act 2001 is the foundational statute governing every form of Mauritius company formation, from a small domestic private company to a Global Business Company, Variable Capital Company, société, limited partnership, or foundation (Source: CBRD, Acts, companies.govmu.org/cbrd). Sitting alongside it, the Financial Services Act 2007 gives the FSC its licensing powers over Global Business and grants it the authority to set the conditions a company must meet to hold, and keep, a Global Business Licence (Source: FSC, fscmauritius.org).
A reform worth flagging explicitly: the licence categories changed in 2019. What used to be marketed as ‘GBC1’ and ‘GBC2’ companies were restructured so that GBC1 became the single ‘Global Business Company (GBC)’ category, and GBC2 was converted into a distinct ‘Authorised Company’ category. CBRD’s current incorporation guidance reflects only these two categories today, alongside the Domestic Company and the Variable Capital Company (Source: CBRD, Incorporation of a Company, companies.govmu.org/cbrd). Some older FSC materials still reference the legacy Category 1/Category 2 language, which is worth knowing so it doesn’t get confused with the current structure.
Key Advantages for Foreign Investors and Entrepreneurs
The commercial case for Mauritius company formation over a purely offshore jurisdiction rests on tax residency. A GBC is a Mauritius tax resident and can apply for a Tax Residence Certificate from the Director-General of the MRA, which is what unlocks the 45 double taxation agreements Mauritius currently has in force (Source: FSC, fscmauritius.org; MRA, mra.mu). An Authorised Company, by contrast, is deliberately structured to sit outside Mauritius tax residency and cannot claim treaty benefits, so it suits a narrower set of use cases such as pure international trading or consultancy vehicles.
Beyond tax treaty access, foreign investors cite the combination of a standard corporate tax rate of 15% (with a partial exemption regime that can bring the effective rate on qualifying income down to 3% or lower), no minimum share capital requirement for most private companies, and a shareholder base that can be entirely non-resident, as reasons Mauritius company formation is treated as a serious mid-shore alternative to both high-tax onshore jurisdictions and no-substance offshore centres (Source: MRA, mra.mu; CBRD, companies.govmu.org/cbrd).
What Is a Global Business Company (GBC) in Mauritius?
GBC Versus Authorised Company: The Post-2019 Structure
A Global Business Company is defined by CBRD as a company whose main business operations are carried out from Mauritius, though the persons behind it, its directors, shareholders, and beneficial owners, can be entirely non-resident (Source: CBRD, companies.govmu.org/cbrd). To incorporate one, CBRD requires at least 2 resident directors, at least 1 shareholder, administration by a licensed Management Company, and maintenance of the company’s principal bank account inside Mauritius. The company must also appoint a secretary, and the whole incorporation is subject to final approval from the FSC, not just registration with CBRD.
An Authorised Company sits at the other end of the spectrum. It is incorporated under the same Companies Act 2001, but its business activities and its control and management sit outside Mauritius, which is why CBRD explicitly states an Authorised Company is not considered tax resident in Mauritius (Source: CBRD, companies.govmu.org/cbrd). It needs only 1 director, who does not have to be resident, can have a corporate director, and must maintain a Registered Agent, always a licensed Management Company, at all times. Typical uses cited by CBRD include investment holding, international trade, and management and consultancy activity that genuinely operates from outside Mauritius.
Substance and Core Income Generating Activity (CIGA) Requirements
The FSC pushes GBCs toward genuine local substance rather than a registered-address-only presence. Its published conditions require a GBC to have at least 2 directors resident in Mauritius who are of sufficient caliber to exercise independence of mind and judgment, to maintain its principal bank account in Mauritius at all times, to keep its accounting records at its registered office in Mauritius, and to prepare and have its statutory financial statements audited in Mauritius (Source: FSC, fscmauritius.org).
On the tax side, the MRA applies a parallel substance test, Core Income Generating Activity (CIGA), as a condition for the 80%/95% partial exemption on qualifying income categories. A company must carry out its CIGA in or from Mauritius, employ, directly or indirectly, an adequate number of suitably qualified people to conduct that CIGA, and incur a level of expenditure proportionate to its actual activity (Source: MRA, Corporate Taxation, mra.mu). These two substance regimes, FSC’s licensing conditions and MRA’s tax conditions, are not identical but they pull in the same direction: a Mauritius GBC that wants both its licence and its tax benefits needs to be more than a nameplate.
The Role of Licensed Management Companies
Every application for a Global Business Licence must be channelled through a Management Company licensed by the FSC under Section 77 of the Financial Services Act 2007 (Source: FSC, fscmauritius.org). Management Companies act as the intermediary between the client and the FSC, and their obligations are extensive: they must conduct customer due diligence on every client, keep separate accounting records and bank accounts for each company they manage, act as Registered Agent for Authorised Companies, and, where required, act as Registered Office and provide directors, secretary, and nominee shareholder services for Global Business Licensees.
A prospective founder cannot apply to the FSC directly. The Management Company prepares and submits the application, the supporting documents, and, since applications run through the FSC’s Online Submissions Platform, the electronic payment as well. The FSC publishes a Register of Licensees so a company can verify that the Management Company it is dealing with actually holds a current licence, though the FSC is explicit that it does not make recommendations for the choice of Management Company itself (Source: FSC, fscmauritius.org).
| Feature | Global Business Company (GBC) | Authorised Company (AC) | Domestic Company |
| Tax Residency in Mauritius | Yes, can obtain a Tax Residence Certificate | No, treated as non-resident for tax purposes | Yes |
| Minimum Directors | At least 2, resident in Mauritius | At least 1, not necessarily resident | At least 1, resident in Mauritius |
| Minimum Shareholders | 1, may be non-resident | 1, may be non-resident | 1 |
| Access to Double Taxation Agreements | Yes, via Tax Residence Certificate from MRA | No | Yes, as a resident taxpayer |
| Must Be Administered by a Management Company | Yes | Yes, acts as Registered Agent | No |
| Principal Bank Account Location | Must be maintained in Mauritius | No requirement to be in Mauritius | No specific requirement |
| Typical Annual ROC Registration Fee | MUR 18,000–40,500 depending on entity type | USD 130–200 | MUR 500–27,000 depending on turnover |
Not Sure Whether You Need a GBC or an Authorised Company?
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How Do You Register a Company in Mauritius, Step by Step?
Reserving a Company Name and Choosing a Structure
The first practical step in Mauritius company formation is confirming the proposed name is not identical to an existing one and does not fall on CBRD’s list of restricted names, which the department publishes and periodically updates (Source: CBRD, Restricted Name, companies.govmu.org/cbrd). At the same time, the applicant needs to settle on a structure: a Domestic Company for a business that will genuinely operate inside Mauritius, a Global Business Company for a Mauritius tax-resident vehicle with international operations, an Authorised Company for a non-resident holding or trading vehicle, or one of the less common forms such as a société, limited partnership, limited liability partnership, or foundation.
CBRD’s online portal, run through Mauritius Network Services, supports both incorporation and the ongoing statutory filings that follow it, and CBRD notes that service providers are, under the Third Schedule of Regulations No. 3 of 2016, required to use the online filing system rather than paper submissions (Source: CBRD, companies.govmu.org/cbrd).
Submitting Incorporation Documents to the CBRD
For a domestic company, CBRD’s published requirements are comparatively light: at least 1 resident director, at least 1 shareholder, a registered office address, and, once the company has been a one-person company for a continuous 6 months, a nominated secretary. The core forms are the Application for Incorporation (F1), signed consent of director (F7), signed consent of shareholder (F9), and signed consent of secretary (F8), together with proof of address for the resident director and a passport copy for any non-citizen involved (Source: CBRD, Incorporation of a Company, companies.govmu.org/cbrd).
Where the only director is a foreigner, CBRD requires a copy of that person’s permanent residence permit or investor Occupation Permit as part of the file. For a company that will hold a Global Business Licence, the bar rises: at least 2 resident directors, administration by a Management Company, and evidence that the company’s principal bank account will be maintained in Mauritius, on top of the same core consent forms. Once CBRD is satisfied the application is compliant, it issues a Certificate of Incorporation, allocates a unique company number, and enters the company’s particulars in the Register (Source: CBRD, companies.govmu.org/cbrd).
Applying for the Global Business Licence Through the FSC
Incorporation with CBRD and licensing with the FSC happen in parallel for a Global Business Company, not one after the other. The Management Company submits the Global Business Licence application, Form FS-4.1, directly to the FSC on the client’s behalf via the Online Submissions Platform, alongside the supporting documents the FSC’s application form lists for demonstrating the fitness and propriety of the applicant (Source: FSC, fscmauritius.org). The FSC’s core test is whether the applicant’s ultimate purpose is an investment or a service to be made or provided outside Mauritius, which is the practical definition of what qualifies as global business.
No official FSC publication commits to a fixed number of working days for approval; the timeline depends on how complete the application is and how quickly the Management Company and FSC exchange any follow-up queries. What is published is the fee: CBRD charges MUR 3,200 for incorporating a company that will hold a Global Business Licence, on top of whatever the chosen Management Company charges for its own services (Source: CBRD, companies.govmu.org/cbrd). Once approved, the company holds both its Certificate of Incorporation from CBRD and its Global Business Licence from the FSC.
What Are the Costs of Mauritius Company Formation?
Incorporation and Licensing Fees
CBRD’s published fee schedule for incorporation itself is modest and, for most entity types, free at the point of filing. Incorporating a private or public domestic company carries no incorporation fee; the only charges are MUR 100 for a summary of the file and an optional MUR 300 if the applicant wants a physical signed Certificate of Incorporation rather than the free electronic version. Incorporating a company that will hold a Global Business Licence costs MUR 3,200, while incorporating an Authorised Company costs USD 100 (Source: CBRD, Incorporation of a Company, companies.govmu.org/cbrd).
These CBRD fees sit on top of, not instead of, whatever the Management Company charges for structuring, drafting the constitution, and handling the FSC application, since a GBC or Authorised Company cannot be set up without one. CBRD does not publish or regulate Management Company fees, so those figures vary by provider and should be confirmed directly with the Management Company chosen, rather than assumed from a generic Mauritius company formation cost figure quoted online.
Annual Registration Fees Payable to the Registrar
Every company, société, limited partnership, limited liability partnership, or foundation registered with CBRD owes an annual registration fee under Part 1 of the Twelfth Schedule of the Companies Act 2001, for as long as it remains on the Register (Source: CBRD, Fees Payable to the Registrar, companies.govmu.org/cbrd). The fee schedule below reflects the rates payable for the year 2026, split between payment within the due date and the higher rate that applies after it.
Two things stand out in the schedule. First, the fee scales with turnover for private companies that are not Global Business Licensees, so a small private company under MUR 30 million in turnover pays a fraction of what a company over MUR 100 million pays. Second, holding a Global Business Licence pushes a private company into the same MUR 18,000/27,000 bracket as a large domestic private company, regardless of its actual turnover, which is a cost founders sometimes miss when they compare a domestic company against a GBC purely on the incorporation fee.
| Entity Type | Fee Within Due Date (MUR) | Fee After Due Date (MUR) |
| Small Private Company (turnover ≤ MUR 30 million) | 500 | 750 |
| Small Private Company (turnover MUR 30–100 million) | 2,500 | 3,750 |
| Private Company (turnover > MUR 100 million) | 18,000 | 27,000 |
| Public Company | 27,000 | 40,500 |
| Foreign Company | 27,000 | 40,500 |
| Private Company holding a Global Business Licence | 18,000 | 27,000 |
| Public Company holding a Global Business Licence | 27,000 | 40,500 |
| Foreign Company holding a Global Business Licence | 27,000 | 40,500 |
| Authorised Company | USD 130 | USD 200 |
| Domestic Limited Partnership | 5,000 | 7,500 |
| Foundation | 9,000 | 13,000 |
Ongoing Management Company and Compliance Costs
Beyond CBRD’s registration fees, a GBC’s recurring cost base includes the Management Company’s annual administration fee, the cost of maintaining a registered office and accounting records in Mauritius, and the statutory audit the FSC requires (Source: FSC, fscmauritius.org). Where the company relies on the 80% or 95% partial exemption regime, it also needs to be able to demonstrate its CIGA and expenditure conditions to the MRA if queried, which in practice means keeping documentation of local staffing and expenditure levels, not just filing a tax return at year end (Source: MRA, mra.mu).
None of CBRD, the FSC, or the MRA publishes a single all-in annual cost figure for running a Mauritius company formation, because Management Company fees are commercially set and vary with the complexity of the structure. What is fixed and verifiable is the government-side cost: the annual ROC fee from the table above, plus any MRA filing obligations that apply based on turnover and entity type.
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What Are the Tax Benefits of Mauritius Company Formation?
Corporate Tax Rates and the Partial Exemption Regime
The MRA sets the standard corporate income tax rate at 15% for companies, trusts, trustees of unit trust schemes, collective investment schemes, foundations, and non-resident sociétés. Companies engaged in the export of goods, meaning international buying and selling of goods shipped directly from the original exporting country without landing in Mauritius, pay a reduced 3% rate, in effect since 1 July 2017 (Source: MRA, Corporate Taxation, mra.mu).
On top of the headline rate, the MRA operates a partial exemption regime that exempts 80% or 95% of specified categories of income from tax, provided the company meets the CIGA substance conditions described earlier. Qualifying categories include foreign dividends, most interest income, profit attributable to a foreign permanent establishment, income of a Collective Investment Scheme or Closed-End Fund, and income earned by CIS managers, administrators, investment advisers, investment dealers, or asset managers licensed by the FSC (Source: MRA, mra.mu). In practice, this means a GBC earning qualifying foreign-source income can see its effective tax rate fall to around 3% under the 80% exemption, or roughly 0.75% under the 95% exemption, rather than paying the full 15% rate.
Double Taxation Avoidance Agreements
Mauritius has 45 double taxation agreements currently in force, spanning major economies and regional trading partners including France, Germany, the United Kingdom, India, China, Singapore, Luxembourg, South Africa, and the United Arab Emirates, among others (Source: MRA, Double Taxation Agreements, mra.mu). A further 7 treaties are awaiting ratification, 7 are awaiting signature, and 19 are under active negotiation, so the network continues to expand.
Access to these treaties is not automatic simply by incorporating in Mauritius. A GBC must apply for, and hold, a Tax Residence Certificate issued by the Director-General of the MRA before it can rely on a specific treaty’s reduced withholding tax rates on dividends, interest, or royalties (Source: FSC, fscmauritius.org). An Authorised Company, being non-resident for tax purposes, cannot obtain this certificate and has no treaty access at all, which is the single biggest practical reason an investor planning to use treaty relief needs to choose a GBC rather than an Authorised Company from the outset.
VAT Registration Obligations
Compulsory VAT registration in Mauritius applies once a business’s annual taxable turnover exceeds, or is likely to exceed, MUR 3 million. This threshold was reduced from MUR 6 million with effect from 1 October 2025, following changes introduced by the Finance Act 2025, and the MRA has confirmed the new threshold applies from that date (Source: MRA Communique, 12 September 2025, mra.mu/download/VATReg120925.pdf). Holders of a Pleasure Craft Licence for a vessel over 12 metres used commercially are also compulsorily required to register, regardless of turnover.
Registered businesses must charge VAT on all taxable supplies other than exempt supplies from the effective date of registration, and failure to register is a criminal offence under the VAT Act, carrying a potential fine of up to three times the tax involved and imprisonment of up to 8 years (Source: MRA, mra.mu/download/VATReg120925.pdf). Businesses below the threshold can still register voluntarily where it suits their commercial arrangements, though the MRA’s guidance is that compulsory registration is triggered purely by the turnover test.
| Tax / Threshold | Rate or Figure | Conditions |
| Standard Corporate Income Tax | 15% | Applies to companies, trusts, CIS, foundations, non-resident sociétés |
| Export of Goods Tax Rate | 3% | Effective since 1 July 2017; goods shipped directly without landing in Mauritius |
| Partial Exemption (Category A) | 80% of qualifying income exempt | CIGA carried out in Mauritius, adequate qualified staff, proportionate expenditure |
| Partial Exemption (Category B) | 95% of qualifying income exempt | Same CIGA conditions, applies to a narrower list of specified income types |
| VAT Compulsory Registration Threshold | MUR 3 million annual taxable turnover | Effective 1 October 2025, reduced from MUR 6 million |
How Can Foreign Investors Obtain Residency Through Mauritius Company Formation?
The Occupation Permit (Investor Category)
The Occupation Permit (OP) is a combined work and residence permit issued jointly by the Economic Development Board (EDB) and the Passport and Immigration Office, covering three categories: Investor, Professional, and Self-Employed (Source: Passport and Immigration Office, passport.govmu.org). For someone pursuing Mauritius company formation as a route to actually living in the country, the Investor category is the one that attaches directly to setting up and running a company there.
The EDB reduced the initial investment criteria for the Investor category from USD 100,000 to USD 50,000 in September 2020, as part of a broader package that also extended the permit’s duration from 3 years to 10 years (Source: Economic Development Board, news.edbmauritius.org). Current guidance describes three qualifying options: an initial investment of USD 50,000 (Option 1), an initial investment of USD 100,000 (Option 2), or submission of an innovative project to the EDB or participation in an EDB-accredited incubator (Option 3). The Self-Employed category’s investment threshold has been maintained at USD 35,000 (Source: Economic Development Board, news.edbmauritius.org).
Renewal Criteria and the Path to Permanent Residence
An Investor Occupation Permit is renewable, but renewal is tied to business performance, not automatic. The EDB’s published criteria require a minimum annual gross income of MUR 4 million from the third year onward for the Investor category, and an annual business income of MUR 800,000 for the Self-Employed category, to keep the permit in good standing (Source: Economic Development Board, news.edbmauritius.org).
Beyond renewal, an Occupation Permit holder can progress to a 20-year Permanent Residence Permit. For the Investor route, the Passport and Immigration Office’s published conditions require holding an OP for at least 3 years with either a minimum annual turnover of MUR 15 million, or an aggregate turnover of MUR 45 million over a 3-year period. Separately, an investor who commits at least USD 375,000 directly into a qualifying business activity, spanning sectors such as financial services, information technology, manufacturing, and tourism, can apply for the 20-year Permanent Residence Permit without first holding a standard Occupation Permit (Source: Passport and Immigration Office, passport.govmu.org).
Dependents, Self-Employed, and Young Professional Routes
Dependents of an Occupation Permit or Residence Permit holder, meaning spouses, and other qualifying family members, can apply for a residence permit of their own, valid for a period not exceeding that of the main permit holder (Source: Passport and Immigration Office, passport.govmu.org). This matters for founders relocating a household alongside a Mauritius company formation, since the dependent application runs in parallel rather than requiring a completely separate immigration process.
A separate Young Professional Occupation Permit (YPOP) exists for foreign students who complete at least an undergraduate degree at a Tertiary Education Commission-recognised institution in Mauritius. It is valid for up to 3 years, must be applied for within 6 months of the results being published, and is restricted to employers operating in Artificial Intelligence, Biotechnology, Fintech, Robotics, Financial Services, or Information Technology (Source: Passport and Immigration Office, passport.govmu.org). It is a narrower route than the Investor OP and does not by itself connect to setting up a company, but it is worth knowing about for founders who studied in Mauritius before incorporating there.
| Permit Category | Minimum Investment / Income | Maximum Duration |
| Occupation Permit — Investor (Option 1) | USD 50,000 initial investment | 10 years, renewable |
| Occupation Permit — Investor (Option 2) | USD 100,000 initial investment | 10 years, renewable |
| Occupation Permit — Self-Employed | USD 35,000 initial investment | 10 years, renewable |
| Occupation Permit — Professional | Tied to employment contract | 3 years, or contract duration, renewable |
| Permanent Residence Permit (Investor route via OP) | MUR 15 million annual turnover, or MUR 45 million over 3 years, after 3 years on an OP | 20 years |
| Permanent Residence Permit (direct investment route) | USD 375,000 in a qualifying activity | 20 years |
Planning to Relocate Alongside Your Mauritius Company?
Choosing the right Occupation Permit option affects both your investment size and how fast you can bring dependents over. BusinessSetupHQ can map the permit route to your company structure.
What Banking and Compliance Obligations Apply to a Mauritius GBC?
Opening a Principal Bank Account in Mauritius
Both the FSC and CBRD require a Global Business Company to open and maintain its principal bank account in Mauritius as a condition of holding its licence and its incorporation (Source: FSC, fscmauritius.org; CBRD, companies.govmu.org/cbrd). Neither the FSC, CBRD, nor the Bank of Mauritius publishes a fixed minimum opening or maintaining balance that applies universally, because Mauritius-licensed commercial banks set their own account-opening criteria, documentation requirements, and minimum balances as a matter of internal policy rather than statute.
Because of that, anyone comparing banks for a new GBC should treat any specific minimum-balance figure quoted by a third party as indicative only, and confirm current requirements directly with the licensed bank and Management Company involved, rather than relying on a generic figure that may not reflect current policy at a specific institution.
Anti-Money Laundering and Customer Due Diligence
Management Companies sit at the front line of Mauritius’s anti-money laundering framework for the global business sector. The FSC’s Guidance Notes require every Management Company to collect and verify client information through Customer Due Diligence (CDD), retain that information for submission to the FSC on request, keep separate accounting records and bank accounts for each company it manages, and take reasonable measures to satisfy itself that its clients are sound and reputable (Source: FSC, fscmauritius.org).
This means a founder pursuing Mauritius company formation should expect to provide source-of-funds documentation, identity verification, and a business plan or rationale for the structure as standard practice, not as an unusual request, since the Management Company is contractually and regulatorily obliged to obtain it before, and throughout, the relationship.
Statutory Filing and Annual Return Obligations
Every company registered with CBRD, whether or not it is a taxpayer, must submit an annual return to the MRA no later than 6 months from the end of the month in which its accounting period ends, declaring all income derived during the preceding year and paying any tax due at the same time (Source: MRA, Corporate Taxation, mra.mu). Companies with a 30 June or 31 December year end have a shorter window: the due date falls 2 working days before the end of December or June respectively.
Companies with turnover above MUR 10 million must also file quarterly Advance Payment System (APS) statements and pay tax accordingly. Penalties are meaningfully higher for Global Business Companies specifically: late submission of the annual return attracts up to MUR 20,000 for a GBC or a company with turnover exceeding MUR 10 million, against a MUR 5,000 cap for smaller non-GBC companies, and late payment of tax carries a 5% penalty for GBCs against 2% for smaller non-GBC companies (Source: MRA, mra.mu). That asymmetry is worth building into a GBC’s compliance calendar from day one.
Which Business Sectors and Structures Suit Mauritius Company Formation Best?
Investment Holding and Fund Structures
A large share of Mauritius company formation activity is investment holding: GBCs sitting between an investor’s home jurisdiction and an operating business or portfolio elsewhere, using the DTA network to reduce withholding tax on the dividends, interest, or capital flows moving through the structure (Source: FSC, fscmauritius.org). Fund-related activity is also significant, and the MRA’s partial exemption list specifically covers income earned by a CIS manager, CIS administrator, investment adviser, investment dealer, or asset manager licensed by the FSC, alongside income derived by the Collective Investment Scheme or Closed-End Fund itself, other than interest (Source: MRA, mra.mu).
For fund structures specifically, CBRD also registers the Variable Capital Company (VCC), which requires at least 2 resident directors, administration by a Management Company, and a principal bank account in Mauritius, and is designed to provide financial services such as fund management, insurance, brokerage, and investment dealing under a structure the FSC must approve before incorporation completes (Source: CBRD, companies.govmu.org/cbrd).
Trusts, Sociétés, and Protected Cell Companies
A Global Business Licence is not limited to the standard company form. The FSC confirms a GBC can also take the form of a trust set up under the Trusts Act 2001 as a charitable, discretionary, or purpose trust, or a société, either a Société en Nom Collectif (an ordinary partnership) or a Société en Commandite Simple (a limited partnership), both established under the Code de Commerce Amendment Act 1985, to structure investments in the global business sector (Source: FSC, fscmauritius.org).
A further option is the Protected Cell Company (PCC), a legal structure that segregates cellular and non-cellular assets so that assets attributable to one cell, whether owned by individuals or corporate bodies, are legally ring-fenced from the others. The PCC is governed by the Protected Cell Companies (Amendment of Schedule) Regulations 2005 and is used across a range of applications where segregated liability between portfolios or clients matters (Source: FSC, fscmauritius.org).
Sectors Attracting the Most Foreign Investment
On the residency side, the EDB has identified the sectors that have historically attracted the most Occupation Permit-linked investment: professional services, financial services, import and export, ICT and media, hospitality, and manufacturing, drawing investors particularly from France, South Africa, India, Britain, Belgium, Italy, and China (Source: Economic Development Board, news.edbmauritius.org). For the 20-year direct-investment Permanent Residence Permit route specifically, the qualifying activity list is broader still, spanning agro-based industry, audio-visual and communication, banking, construction, education, environment-friendly and green energy products, financial services, fisheries and marine resources, the Freeport, information technology, infrastructure, insurance, leisure, manufacturing, marina development, tourism and warehousing, and initial public offerings (Source: Passport and Immigration Office, passport.govmu.org).
For a founder deciding whether Mauritius company formation fits their sector, the practical takeaway is that the structure (GBC, Authorised Company, VCC, trust, or société) should be chosen around where the business is actually managed from and what its investors need, tax residency and treaty access versus a lighter offshore trading vehicle, before defaulting to whichever entity type is most commonly advertised by a service provider.
Ready to Match Your Sector to the Right Mauritius Structure?
GBC, Authorised Company, VCC, or a trust arrangement, the right fit depends on your sector and where the business is actually run from. BusinessSetupHQ can help you decide before you file.
Practical Tips for Mauritius Company Formation
- Confirm whether you actually need a GBC before defaulting to one. If the company will not be managed from Mauritius and does not need treaty access, an Authorised Company is cheaper to run (USD 130-200 annual ROC fee versus MUR 18,000-40,500) and needs only 1 non-resident director, per CBRD’s published fee schedule and director requirements.
- Budget for 2 Mauritius-resident directors on a GBC from the outset, not as an afterthought. The FSC treats this as a substance requirement tied directly to the licence, not a box-ticking formality, and it also feeds into the MRA’s separate CIGA test for the partial exemption regime.
- Choose a Management Company before you choose a bank. Every GBC and Authorised Company application must be channelled through an FSC-licensed Management Company, and that company typically has existing banking relationships that can shorten account-opening timelines, since no universal minimum balance or turnaround time is set in law.
- Map your VAT position against the current MUR 3 million compulsory registration threshold, not the older MUR 6 million figure still circulating in older articles and guides. The threshold changed on 1 October 2025, and getting this wrong risks the penalties the VAT Act attaches to late or missed registration.
- If relocating personally, apply for the Occupation Permit in parallel with company formation rather than after it. The Investor OP’s USD 50,000 threshold and 10-year duration make it realistic to plan residency and incorporation as a single project, and dependents can apply for their own residence permit at the same time.
How Can BusinessSetupHQ Help With Mauritius Company Formation?
Choosing between a Global Business Company and an Authorised Company, coordinating a CBRD incorporation with an FSC licence application, and lining up a Management Company all at once is a lot to manage from outside Mauritius, particularly when the tax outcome hinges on getting the substance and CIGA conditions right from day one rather than fixing them retroactively.
BusinessSetupHQ’s team brings more than 22 years of combined experience helping foreign founders and investors navigate company formation across multiple jurisdictions, translating official regulatory requirements like the ones cited throughout this guide into a clear, sequenced setup plan, from structure selection and Management Company introductions through to Occupation Permit planning for founders who want to relocate alongside their company.
Contact BusinessSetupHQ at businesssetuphq.com for a free consultation on whether a Mauritius GBC, an Authorised Company, or a different international company formation jurisdiction entirely fits your specific investment and residency goals.
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Frequently Asked Questions About Mauritius Company Formation
Neither CBRD nor the FSC publishes a guaranteed processing timeline for Mauritius company formation. The process runs in two coordinated tracks, incorporation with CBRD and, for a GBC, licensing with the FSC, both submitted through a licensed Management Company, and the overall timeline depends on how quickly the required consent forms, identity documents, and, for a GBC, the FSC application file are assembled and how promptly any follow-up queries are answered (Source: CBRD, companies.govmu.org; FSC, fscmauritius.org).
A Global Business Company is tax resident in Mauritius, needs at least 2 Mauritius-resident directors, and must keep its principal bank account in the country, which is what allows it to obtain a Tax Residence Certificate and access Mauritius’s 45 double taxation agreements. An Authorised Company conducts its business and control outside Mauritius, is not tax resident, needs only 1 director who does not have to be resident, and has no treaty access at all (Source: CBRD, companies.govmu.org).
Yes. CBRD’s shareholder requirements for a domestic company, GBC, or Authorised Company do not require Mauritian ownership, only at least 1 shareholder, who can be entirely non-resident. What is required, for a domestic company with a sole foreign director, is a copy of that director’s permanent residence permit or investor Occupation Permit, and for a GBC specifically, at least 2 directors who are resident in Mauritius, even where 100% of the shares are held by non-residents (Source: CBRD, companies.govmu.org).
The standard rate is 15%. A GBC earning qualifying income, such as foreign dividends, most interest, or income from FSC-licensed fund management activity, can apply an 80% or 95% partial exemption, subject to meeting the Core Income Generating Activity (CIGA) substance conditions, which brings the effective rate on that qualifying income down to around 3% or roughly 0.75% respectively (Source: MRA, mra.mu).
No. Shareholders in a Global Business Company can be entirely non-resident. What the company itself needs is at least 2 directors resident in Mauritius and administration by a licensed Management Company (Source: FSC, fscmauritius.org). An individual owner who wants to relocate personally, rather than simply own the company from abroad, can apply separately for an Occupation Permit under the Investor category, with a minimum initial investment of USD 50,000 (Source: Economic Development Board, news.edbmauritius.org).
Mauritius currently has 45 double taxation agreements in force, according to the MRA’s official treaty list, with a further 7 awaiting ratification, 7 awaiting signature, and 19 under negotiation. Access to any specific treaty requires the Mauritius company to hold a Tax Residence Certificate issued by the MRA’s Director-General, which is only available to Mauritius tax residents such as a GBC, not to an Authorised Company (Source: MRA, mra.mu).
The Investor Occupation Permit currently offers three qualifying options: an initial investment of USD 50,000 (reduced from USD 100,000 in September 2020), an initial investment of USD 100,000, or submission of an innovative project to the Economic Development Board or participation in an EDB-accredited incubator. The permit runs for up to 10 years and is renewable, subject to minimum annual gross income criteria from the third year onward (Source: Economic Development Board, news.edbmauritius.org).
Compulsory VAT registration is triggered once a company’s annual taxable turnover exceeds, or is likely to exceed, MUR 3 million, a threshold that took effect on 1 October 2025 after being reduced from MUR 6 million. Registration and VAT charging obligations apply from that effective date, and failing to register when required is a criminal offence under the VAT Act (Source: MRA Communique, 12 September 2025).
