Global Business Companies holding a Category 1 Licence (GBL 1) – A GBL 1 is a company incorporated in Mauritius and licensed by the Financial Services Commission (FSC) to conduct business with entities outside Mauritius. A GBL 1 is resident for tax purposes in Mauritius and is qualified to benefit from the Double Taxation Avoidance Agreements (DTAAs) in force between Mauritius and numerous countries. Moreover there is no capital gains tax or withholding tax in Mauritius.
GBL 1 companies are the ideal vehicles for structuring investments. They can also be used to hold intellectual property such as patents, copyrights and trademarks and to receive royalties. GBL 1 companies can also act as holding companies or can be used for asset management, insurance and re-insurance or develop any of the activities expressly authorised by the law. The GBL 1 company is currently the preferred structure for establishing funds in Mauritius.
Acting as holding companies, GBL 1 companies benefit from reduced withholding taxes on payment of dividends and royalties in other countries. Companies from other jurisdictions may be continued in Mauritius as GBL 1 companies.