Port Louis Management  Services Ltd

A resident corporation which proposes to conduct business outside Mauritius may apply to the Financial Services Commission (FSC) for a Category 1 Global Business Licence.

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It can be organized as a collective investment scheme, global fund, protected cell company, a trust or an investment holding company.

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A GBC 1 is considered to be a tax resident in Mauritius and therefore can take advantage of the DTA network.  A GBC 1 company is liable to Mauritian Tax at 15% on its chargeable profits. It is entitled to a tax credit amounting to :

 

a) an automatic 80%, or

 

b) the withholding tax paid, or

 

c) the deemed tax credit

 

which ever is higher, resulting in a maximum effective tax rate of 3%.

 

It can access Mauritius' network of 43 Double Tax Avoidance Treaties (DTAs) and carry out any business activity such as:

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· Asset Management

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· Credit finance

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· Custodian services (non-CIS)

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· Distribution of financial products,

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· Factoring, Leasing

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· Occupational pension schemes, pension fund administration, retirement benefits schemes, superannuation funds

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· Register and transfer agencies

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· Treasury management

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· Ship and aircraft registration

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· And such other financial business activities as may be specified by the FSC.

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Benefits of GBC 1:

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· Low tax rate & Generous tax credit

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· Access to tax treaties

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· No withholding tax on dividends, interest

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· Free repatriation of profits, capital and interest

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· No estate duty, inheritance, wealth or gift tax

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