Mauritius Offshore Company 2026: GBC vs Authorised Co

Mauritius is the offshore jurisdiction that took a different road. Instead of competing purely on zero tax, it built a regulated financial centre around something the zero-tax islands cannot offer: an extensive network of double-tax treaties. For investors routing capital into Africa and Asia, that treaty access – not secrecy – is the whole point.

This guide explains the two Mauritius vehicles – the treaty-access GBC and the simpler Authorised Company – their tax treatment, the substance you must maintain, and where Mauritius beats a plain offshore company. It has been reviewed by Jashvantkumar Prajapati, who structures cross-border investment vehicles.

Mauritius is misunderstood. People chase it for “low tax” and miss the actual asset – the treaty network. If you are putting money into Africa, a substance-backed GBC can save far more in withholding tax than the headline rate ever costs you. If you are not, you are paying for substance you do not need.

— Jashvantkumar Prajapati, Business Structuring Specialist (CSP Licensed #909402), Avyanco Group (reviewer)

The two Mauritius vehicles

Mauritius offers two quite different offshore structures, and choosing the wrong one is the most common mistake:

The tax position

A GBC pays a 15% headline corporate tax, but can claim an 80% partial exemption on specified categories of foreign income – such as foreign dividends and interest – bringing the effective rate on that income to roughly 3%, subject to substance conditions. Mauritius levies no capital gains tax and no withholding tax on dividends paid by a GBC.

An Authorised Company, being non-resident, pays no Mauritius tax on foreign-source income at all – but it cannot use the treaty network, and home-country rules (including UAE Corporate Tax) still apply to the owners.

The treaty advantage

Mauritius has an extensive double-tax treaty and investment-protection network across Africa and Asia. For an investor putting capital into, say, an African operating company, routing through a substance-backed Mauritius GBC can reduce withholding tax on dividends, interest and capital gains, and add treaty protection. This is why Mauritius became the leading conduit for institutional investment into Africa. (The India–Mauritius treaty was amended in 2016, so India-focused structures need current, specific advice.)

The substance you must maintain

A GBC’s treaty access depends on being genuinely managed and controlled in Mauritius. In practice that means:

• At least two Mauritius-resident directors of appropriate calibre;
• A local registered office and a licensed management company;
• A principal bank account in Mauritius;
• Accounting records kept in Mauritius and board decisions taken there;
• Core income-generating activity directed from Mauritius.

Substance is actively tested by the FSC. A letterbox GBC will not survive a treaty challenge or an audit.

What it costs

Indicative 2026 figures via licensed management companies; GBC running costs reflect the resident-director and office substance it requires.

Mauritius vs the other offshore options

Mauritius vs a UAE structure

Before you go offshore, price the UAE option. For founders who actually live and operate in the Gulf, a UAE free zone now offers a credible 0% Qualifying Free Zone Person rate with real substance, local banking and an expanding treaty network – often a stronger answer than a classic zero-tax island. Compare with our UAE free zone guide and UAE offshore options (RAK ICC, JAFZA) before committing.

The UAE itself now has a wide and growing treaty network, so for some Africa- and Asia-facing investors a UAE holding company is a credible alternative to a Mauritius GBC – with the added benefit of being where many founders already live. We compare both on the actual investment route.

How we help

Frequently asked questions

What is a Global Business Company in Mauritius?

A Global Business Company (GBC) is a Mauritius-resident company licensed by the Financial Services Commission to conduct business mainly outside Mauritius. Because it is tax-resident, it can access Mauritius's network of double-tax treaties - the main reason it exists. In return it must meet substance requirements: being managed and controlled from Mauritius, with resident directors, a local office and local administration. It is the vehicle of choice for routing investment into Africa and Asia.

What is the difference between a GBC and an Authorised Company?

A GBC is tax-resident in Mauritius (15% headline rate, often an effective ~3% after partial exemption) and can use the treaty network, but must meet real substance requirements. An Authorised Company (AC) is treated as non-resident - its management and control sit outside Mauritius - so it pays no Mauritius tax on foreign income but cannot access treaties. Choose a GBC when you need treaty benefits and substance; choose an AC for simple holding or trading where treaties don't matter.

How much tax does a Mauritius GBC pay?

The headline corporate tax rate is 15%. A GBC meeting the conditions can claim an 80% partial exemption on specified categories of income - such as foreign-source dividends and interest - reducing the effective rate on that income to about 3%. Mauritius also has no capital gains tax and no withholding tax on dividends paid out by a GBC. The low effective rate is conditional on meeting substance requirements, not automatic.

Why use Mauritius for investing into Africa or India?

Mauritius has an extensive double-tax treaty and investment-protection network across Africa and Asia, which can reduce withholding taxes and offer treaty protection on cross-border investments. That treaty access - combined with a credible, regulated financial centre and the low effective GBC rate - is why Mauritius became the leading conduit for institutional investment into Africa and, historically, India. Note the India treaty was amended in 2016, so India structures need current, specific advice.

What substance does a Mauritius GBC need?

To be treated as resident and use treaties, a GBC must be managed and controlled in Mauritius. In practice that means at least two Mauritius-resident directors, a local registered office, a principal bank account in Mauritius, accounting records kept locally, and the company's core income-generating activities directed from Mauritius (often via a licensed management company). Substance is now actively tested - a 'letterbox' GBC no longer works.

How much does a Mauritius company cost?

A GBC typically costs more to run than a BVI or basic offshore company because of the substance requirements - resident directors, a management company and local administration. Setup and first-year costs commonly run from around US$2,000 to US$4,000, with ongoing annual administration and substance costs on top. An Authorised Company is cheaper to maintain since it has lighter substance needs. Figures are indicative and depend on the licensed management company.

Is Mauritius a tax haven?

Mauritius positions itself as a regulated international financial centre rather than a zero-tax haven. It has a real tax system (15% headline), substance requirements, a regulator (the FSC), and treaty obligations - and it has worked to meet OECD and EU standards, exiting earlier monitoring lists. It offers efficiency and treaty access for genuine, substance-backed structures, not anonymity or zero tax for letterbox companies.

Can you set up a Mauritius company for me?

Yes - we advise on whether a GBC or an Authorised Company fits your goal, then coordinate the licence and incorporation through a licensed Mauritius management company, including the resident directors and substance a GBC requires. We are independent advisers, not the management company, so we will be candid about whether Mauritius, the UAE, or another route gives you the cleanest path for your specific investment.

Sources and official references

Related guides

• BVI company setup
• Cayman Islands company setup
• UAE offshore options (RAK ICC, JAFZA)
• UAE free zone company setup
• UAE Corporate Tax
• Jashvantkumar Prajapati - structuring specialist
• Talk to an adviser

This guide is general information, not legal, tax or financial advice. Company law, government fees and economic-substance rules in offshore jurisdictions change without notice, and your home-country obligations – including UAE Corporate Tax and controlled-foreign-company style rules – may still apply. Confirm the current position with the relevant authority or a licensed agent in that jurisdiction before acting.