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Post grandfathering compliance considerations

01 July 2021 marks the end of the grandfathering period.

As from 01 July 2021, grandfathered companies holding Category 1 Global Business Licences will be converted into Global Business Licence companies (GBL) and companies holding Category 2 Global Business Licences will cease to exist. Prior to 01 July 2021, grandfathered GBC 2 companies can either be converted into GBL or Authorised Companies. 

In order to maintain their GBL licences, GBL companies will have to adhere to the new substance requirements such as carrying out their core income generating activities (“CIGA”) in or from Mauritius.

Source: Tax Alert: Global Business – Post grandfathering 01 July 2021

What’s next for GBC2?

Companies issued with a Category 2 Global Business Licence (“GBC2”), on or before 16 October 2017, will be grandfathered till 30 June 2021. The GBC2 companies will then have to be either converted to a Global Business Licence Company or an Authorised Company (“AC”) before 30 June 2021.

To meet the requirements of conversion from a GBC2 to an Authorised one, companies will have to: 

  • Conduct business principally outside Mauritius
  • Have a place of effective management outside Mauritius
  • Have majority of shares held by non-resident
  • Not be resident for tax purposes.
Grandfathering- PwC Mauritius - services - Tax

How we can help

For any queries or personal assistance please contact:
Sufyaan Dosemahamed
Manager, Tax
Tax Services Mauritius - PwC

Are you a GBC2?

Do you need assistance for the assessment of which option (GBL or AC) would be more effective for your organisation? We can provide you with the required information for a better decision making process for the conversion.

PwC Mauritius - Tax Services - mauritius mu

Are you already an Authorised Company?

We can provide with the required assistance for the filing of your return with the revenue authorities to avoid any penalties for non-compliance. We can also assess your readiness for AML/CFT regulations and fasten your tax processes using our in-house developed tool, experTax

Contact us

Anthony Leung Shing, ACA, CTA

Anthony Leung Shing, ACA, CTA

Country Senior Partner, PwC Mauritius

Tel: +230 404 5071

Dheerend Puholoo

Dheerend Puholoo

Tax Leader, PwC Mauritius

Tel: +230 404 5079

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