Global Business Activities are regulated by the Mauritian Financial Services Commission which has, amongst other duties, the responsibility of registering global business entities, issuing and renewing global business licences.
There are two types of Global Business Companies available:
- Category 1 Global Business Licence (“GBL 1”)
- Category 2 Global Business Licence (“GBL 2”)
All Global Business Companies are governed by the Companies Act 2001 and the Financial Services Act 2007. Depending upon the activities of the Company, the Global Business Company may also be governed under the Securities Act in Mauritius and any other applicable laws such as the PCC Act and the Insurance Act.
In the past, only certain prescribed activities qualified for a Global Business Licence. With the advent of the Financial Services Act 2007, there are no longer such restrictions, but a Global Business Licence will not be granted if the activity is unlawful, contrary to public interest or if it can cause serious prejudice to the good repute of Mauritius as a Financial Services Centre.