As of January 2019, Category 2 Global Business Licence (GBC2) will be abolished, and companies previously holding a GBC2 licence will need to apply for an authorisation from the FSC as an Authorised Company. As of 1 January 2019, GBC2 licence will be abolished. Graham Patrick and Udaye Bheergoonath, Senior Client Service Managers in Mauritius, argue that reforms to Mauritius’ global business landscape, as outlined in the jurisdiction’s Finance Bill 2018, show that Mauritius is committed to remaining an international finance centre (IFC) of substance. Along with the renaming of GBC1 to GBC and the abolition of GBC2, the 1st January will also see the establishment of a new type of company.
2. Also effective from 1 January 2019, the GBC2 category will be abolished.
GBC 2 LICENCES. The following is a list of the conditions of GBC2: Carried on by a private company. Further Details of GBC2 Abolition. A GBC2 is suited for trading, holding and managing private assets and may not engage in certain authorised activities such as … Abolishing GBC2 regime, replacing it with an “Authorised Company Regime” These changes are not immediate and will apply for 1st January 2019. Changes announced in the Mauritius Budget Speech 2018-2019 and implemented with the enactment of the Mauritius Finance (Miscellaneous Provisions) Act 2018 (Finance Act) saw the previous regime of Global Business Category 1 and 2 (GBC1, GBC2) Licences abolished from 1 January 2019.
Mauritius Budget 2018-19 proposes that FSC will cease to issue Category 2 Global Business Companies (GBC) licenses from January 2019, with a grandfathering provision for existing companies; Deemed Foreign Tax Credit regime available to companies holding a Category 1 Global Business License (GBL) will be abolished from December 31, 2018; A partial exemption regime will be … As of 1 January 2019, GBC2 licence will be abolished. Along with the renaming of GBC1 to GBC and the abolition of GBC2, the 1st January will also see the establishment of a new type of company. Effective from 1 January 2019, the Category 2 Global Business Licence ("GBC2") will be abolished; Existing GBC2 companies, where licenses were issued on or before 16 October 2017, will be grandfathered until 30 June 2021.
Further Details of GBC2 Abolition. Changes announced in the Mauritius Budget Speech 2018-2019 and implemented with the enactment of the Mauritius Finance (Miscellaneous Provisions) Act 2018 (Finance Act) saw the previous regime of Global Business Category 1 and 2 (GBC1, GBC2) Licences abolished from 1 January 2019.
Further Details of GBC2 Abolition. Existing GBC2 companies, where licences were issued on or before 16 October 2017, will be grandfathered until 30 June 2021. GBC2 licences shall lapse on either 31 December 2018 or 30 June 2021 depending on the licensing dates and shall subsequently need to comply with the prescribed requirements of a GBL. Mauritius Budget 2018-19 proposes that FSC will cease to issue Category 2 Global Business Companies (GBC) licenses from January 2019, with a grandfathering provision for existing companies; Deemed Foreign Tax Credit regime available to companies holding a Category 1 Global Business License (GBL) will be abolished from December 31, 2018; A partial exemption regime will …
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