Frequently Asked Questions

A Global Business Company (GBC) is a tax-resident corporate entity in Mauritius, regulated by the Financial Services Commission. It is the primary vehicle for international business and investment structuring, offering access to Mauritius’ extensive double taxation agreement (DTA) network.

• Subject to 15% corporate tax (effective rate reduced via partial exemptions)
• Must demonstrate management and control in Mauritius
• Eligible for Tax Residence Certificate (TRC)
• Preferred by institutional investors and regulated counterparties

The key distinction lies in tax residency and treaty access:

• GBC: Tax-resident in Mauritius. 15% corporate tax with partial exemptions. Access to DTA network. Management and control must be in Mauritius. Eligible for TRC.
• Authorised Company (AC): Non-resident for tax purposes. Zero corporate tax in Mauritius. No access to DTA benefits. Management and control must be outside Mauritius.

The right choice depends on your investment strategy, treaty requirements and substance capacity. We provide dedicated advisory to help you select the most appropriate structure.

Typical timelines for incorporation in Mauritius:

• Authorised Company: 3–5 business days from submission of complete documentation
• Global Business Company: 2–4 weeks, subject to FSC licensing review

Timelines may vary depending on the complexity of the structure, completeness of KYC documentation and FSC processing times.

Required documentation typically includes:

• Certified copy of passport for all directors and shareholders
• Proof of residential address (utility bill or bank statement, not older than 3 months)
• Source of funds declaration
• Bank reference letter
• CV or professional biography
• Corporate documents for shareholder entities (if applicable)

We manage the entire documentation process and guide clients through all KYC requirements.

Yes. To demonstrate management and control in Mauritius — which is a prerequisite for tax residency and treaty access — a GBC must have at least two resident directors based in Mauritius.

Union Financial Services Ltd provides qualified resident director services to ensure your GBC meets all substance and governance requirements.

KYC requirements in Mauritius align with international AML/CFT standards. For individuals, we typically require:

• Government-issued photo ID (passport preferred)
• Proof of address (dated within 3 months)
• Source of funds and source of wealth documentation
• Bank reference letter

For corporate entities, additional documentation including corporate registration, ownership structure and beneficial ownership information is required.

Economic substance requirements are designed to ensure that GBCs demonstrate genuine activity and management in Mauritius. This typically includes:

• Board meetings held in Mauritius (with minutes maintained locally)
• Appointment of qualified resident directors
• Maintenance of accounting records within the jurisdiction
• A principal bank account held in Mauritius
• Operational decision-making demonstrably conducted in Mauritius

Union Financial Services Ltd provides comprehensive substance support including resident directors, registered office, board coordination and compliance monitoring.

Yes. Mauritius has adopted both FATCA (Foreign Account Tax Compliance Act) and CRS (Common Reporting Standard). Financial institutions and certain entities operating in Mauritius are required to:

• Classify themselves under the applicable regime
• Identify and report reportable accounts and investors
• Submit annual reports to the Mauritius Revenue Authority

Union Financial Services Ltd manages the full FATCA and CRS compliance lifecycle, from initial classification to annual reporting.

Mauritius maintains a robust AML/CFT framework aligned with the Financial Action Task Force (FATF) international standards. All licensed entities are required to implement risk-based systems to detect, prevent and report financial crime, including:

• Customer due diligence and ongoing monitoring
• Transaction monitoring and suspicious activity reporting
• Record-keeping for a minimum of 7 years
• Screening against sanctions lists and PEP databases

Mauritius offers a highly competitive tax environment for international business structures:

• 15% corporate tax rate — further reduced via a partial exemption regime for qualifying income
• No capital gains tax — gains on disposal of assets are not taxed
• No inheritance tax — no tax on transfer of assets on death
• No withholding tax on dividends (subject to conditions)
• 45+ Double Taxation Agreements — access to treaty relief across Africa, Asia and Europe

A Tax Residence Certificate (TRC) is an official document issued by the Mauritius Revenue Authority (MRA) confirming that a company is a tax resident in Mauritius for a specific financial year.

A TRC is typically required when claiming benefits under a double taxation agreement — for example, to obtain reduced withholding tax rates on dividends, interest or royalties paid by a foreign company to your GBC.

Only Global Business Companies are eligible for a TRC. Authorised Companies, being non-resident for tax purposes, do not qualify.

Mauritius has more than 45 Double Taxation Avoidance Agreements (DTAs) in force with countries across Africa, Asia, Europe and the Middle East, including India, China, France, Luxembourg, South Africa and many others.

In addition, Mauritius has 44 Investment Protection Agreements (IPAs), 24 of which are with African countries — making it the most treaty-connected jurisdiction in Africa for investment structuring.

Yes. Mauritius has committed to OECD Base Erosion and Profit Shifting (BEPS) standards and has implemented measures including economic substance requirements, transparency obligations and anti-avoidance provisions.

Structures established through Union Financial Services Ltd are designed to be fully compliant with BEPS principles, ensuring they are sustainable, defensible and aligned with international regulatory expectations.

Mauritius offers a flexible framework for a wide range of investment fund structures, including:

• Collective Investment Schemes (CIS) — regulated open or closed-ended funds authorised by the FSC
• Private Equity Funds — closed-end vehicles for long-term capital deployment into illiquid investments
• Variable Capital Companies (VCC) — flexible multi-class fund vehicles (Mauritius was first in Africa to adopt VCC legislation)
• Global Business Companies — used as investment holding and SPV structures

Fund administration is a critical operational function that encompasses:

• NAV (Net Asset Value) calculation and valuation of fund assets
• Financial reporting and preparation of financial statements
• Investor services — subscriptions, redemptions, capital calls and distributions
• Investor register maintenance and transfer agency services
• Regulatory compliance and reporting (AML/CFT, FATCA, CRS)

Yes. The Stock Exchange of Mauritius (SEM) provides listing opportunities for investment funds and other financial instruments on both the Official Market and the Development & Enterprise Market (DEM).

Listing on the SEM enhances the credibility and profile of a fund structure, provides access to a broader investor base and can facilitate capital raising and liquidity objectives.

A Mauritius trust is a legal arrangement under which a settlor transfers assets to a trustee, who holds and manages those assets for the benefit of designated beneficiaries. Mauritius trusts are widely used for:

• Wealth preservation and intergenerational transfer
• Asset protection from legal disputes and financial exposure
• Succession planning — avoiding probate complexities
• Confidentiality for high-net-worth family structures
• Holding international investments across multiple jurisdictions

No. Mauritius does not impose inheritance tax, estate duty or capital gains tax. This makes it a highly attractive jurisdiction for estate planning and intergenerational wealth transfer.

Combined with the availability of flexible trust and fiduciary structures, Mauritius provides an efficient and confidential platform for structuring the transfer of wealth across generations.

A family office is a dedicated structure established to centralise the management of a family’s financial, investment and administrative affairs. Mauritius provides a regulatory framework for both single-family offices (SFOs) and multi-family offices (MFOs) under FSC oversight.

Key advantages include Mauritius’ zero CGT and inheritance tax environment, access to international markets, strong confidentiality protections and a flexible legal framework for asset holding and governance.

Yes. This is one of Mauritius’ key strengths for private clients. For families with assets and beneficiaries spread across multiple countries, a Mauritius trust or holding structure can provide a centralised, tax-efficient and confidential framework for managing the orderly transfer of wealth.

Union Financial Services Ltd works closely with clients and their legal advisors to ensure that succession plans are aligned with international tax rules, local laws and the family’s specific objectives.