Table of Comparison between Global Business Company and Authorised Company

FEATURES	GBC	AC
Registered Office	Mauritius	Mauritius
Place of Central Management & Control	Mauritius	Outside Mauritius
Economic Substance requirement in Mauritius	Yes	No
Core Income Generating Activities (CIGA) must be in Mauritius	Yes	Must be outside Mauritius
Minimum number of Directors	2	1
Corporate Directors allowed	No	Yes
Can all Directors be non-resident?	No (minimum 2 Resident)	Yes
Can all shareholders be non-resident?	Yes	Yes
Minimum Capital Requirement	None(a)	None
No par value shares	Allowed	Allowed
Annual General Meeting	Yes	Optional
Access to DTA benefits	Yes	No
Corporate Tax in Mauritius	0-15% (b)	Exempt
Corporate Social Responsibility Tax (CSR): 2%	Exempt	Exempt
VAT (15%) registration in Mauritius	Yes (c)	No
Resident Company Secretary	Yes	Not required
Management Company or Resident Agent required (resident in Mauritius)	Yes	Yes
Office or staff in Mauritius	Yes	No
Employ expatriates in Mauritius	Yes	No
Acquisition of immovable property in Mauritius for office use (Upon Govt approval)	Yes	No
Auditor	Yes	Not Required
Filing of annual Audited Accounts	Yes	Annual Financial Summary only
Filing of Tax Return	Yes	Yes
Penalty for late filing of accounts (d)	Yes	Yes
Disclosure of ultimate beneficial owners to the regulator	Yes	Yes
Reporting under FATCA/CRS	Yes	Yes
Incorporation time (Full KYC documents should be provided and application should be submitted)	About 2-3 weeks	About 1-2 weeks

Notes

No minimum share capital except for specific sectors like banking, insurance, CIS, securities, funds,financial services, etc.

Partial tax exemption of 80% on foreign sourced income as follows: foreign dividends, foreign interest, foreign Collective Funds, income from leasing of aircraft/ships, sale, financing arrangement, asset management of aircraft and its spare parts and aviation advisory services, insurance & reinsurance brokering and income from leasing and provision of international fiber capacity.

AC is exempt from VAT.
A GBC is not required to be VAT registered if all its activities are outside Mauritius. However, if a GBC has taxable supplies in Mauritius (standard and zero rated) and its total taxable supplies exceed the threshold of Rs6M annually, VAT registration is applicable.

Statutory fine of USD 10/day for late filing until accounts are filed for GBC /AC.