Mauritius: Types of Company
GBC2 (International) Company
A GBC2 can take any of the forms permitted under the Companies Act 2001. Unlike an offshore company, an international company used to be able to issue bearer shares, but this is no longer permitted. However, in other respects the share structure can be flexible:
- No minimum capital requirement, although at least one share must be issued and paid up;
- Registered shares and a variety of shares such as preferred, redeemable, and fractional are allowed;
- Shares may be issued with or without par value;
- Redeemable preference shares may be issued;
- Only one shareholder and one director are required.
However, a GBC2 is treated as non-resident, cannot get the benefit of Mauritius' double tax treaties, and cannot operate in the Free Port. Mauritian citizens are not permitted to own shares in a GBC2. There are a number of other restrictions on GBC2s; they may not:
- Raise capital by public subscription;
- Carry on banking or insurance business;
- Own real property in Mauritius;
- Own or manage a collective investment fund;
- Provide nominee services, or provide trustee services to more than three trusts.
GBC2 companies are not required to file annual accounts, and confidentiality may be preserved through the use of nominee directors and shareholders.
See Offshore Legal and Tax Regimes for further details of the taxation regime for international companies. They pay much lower annual licensing and registration fees than GBC1 companies.