Company formation services in Mauritius
“Authorised Company”, formerly GBC2
No more Global Business Company 2 – now is “Authorised Company”!
The Finance Act 2018 amended the Financial Services Act to introduce a new type of company: the “Authorised Company”, in replacement of the formerly known as “GBC2 Company”.
An Authorised Company applies where the majority of shares or voting rights or the legal or beneficial interest in a company incorporated under the Companies Act are held or controlled, as the case may be, by a person who is not a citizen of Mauritius and such company:
- (a) proposes to conduct or conducts business principally outside Mauritius; and
- (b) has its place of effective management outside Mauritius.
Authorised Company
A holder of an Authorised Company License shall:
keeping of records, including board minutes and resolutions, transaction records and such other documents and services as the FSC may require;
Transactional Provisions
Authorised Company vs. Global Business License (GBC2)
No new GBC2 to be registered as from now.
Instead of GBC2, there is a new structure called ‘Authorised Company’.
All GBC2 incorporated on or before 16th October 2017, will maintain their GBC2 status & existing conditions till 30th June 2021 (after this the company will have the option to convert to the new structures but fees/process applicable for this are yet to be confirmed by the Authority).
All GBC2 incorporated on or before 16th October 2017, will maintain their GBC2 status & existing conditions till 30th June 2021 (after this the company will have the option to convert to the new structures but fees/process applicable for this are yet to be confirmed by the Authority).
NOTE: For applications made before for the conversion of a GBC2 into an Authorised Company before end of 31st December 2018, there will be only a minimal fee of USD 300 (the processing and annual fees being waived for the year till 2018-2019). Any application for conversion made after 31st December 2018 will be subject to full processing and annual fees as per current legislation.
As from 08th October 2018, the FSC will consider applications for Authorised Company. In another hand, if you do not want to continue with GBC2 or convert to Authorised Companies in Mauritius, we can support you domiciliation to UAE (RAK IBC), then your company still good standing and continue business even with your bank account.
Authorised companies characteristics
Authorised Companies suitable (but not limit) for:
- Non-Financial Consultancy
- IT Services
- Logistics
- Marketing
- Shipping
- Ship Management
- Trading (Non-financial)
- Passive Investment Holding
- One off transaction using a Special Purpose Vehicle
Our company licensing services
— What we do and do not do
Our company is EXCLUSIVELY engaged in assisting worldwide clients, either individuals or corporate entities, to get duly and properly licensed with local Regulators and Financial Authorities to get respective official licenses to legally carry out their cryptocurrency or financial related business activities.
TBA & Associates Tax Business Advisors does not provide or carry out any sort of Cryptocurrency or Financial services!
Disclaimer: While TBA & Associates strives to make the information on this website as timely and accurate as possible, the information itself is for reference purposes only. You should not substitute the information provided in this article for competent legal advice. Feel free to contact TBA Customer Services for advice on your specific cases.