A GBL 1 company can be set up to carry out any legal global business activities or such financial business activities as may be approved by the Regulator, the Financial Services Commission. This may include asset management, licensing and franchising, aircraft financing and leasing, pension fund administration, captive insurance, logistics, marketing, treasury management, consultancy services and project management. As defined under the Financial Services Act 2007 of Mauritius, a GBL1 is a company engaged in qualified global business and which is carried on from within Mauritius with persons all of whom are resident outside Mauritius and where business is conducted in a currency other than the Mauritian rupee.
A single legal entity that operates segregated accounts, or cells, each of which is legally protected from the liabilities of the company's other accounts. There is no limitation as to the number of cells a PCC can create. The Protected Cell Company (PCC) Act 1999 came into force in January 2000. It is a very flexible structure which provides significant cost effectiveness prospects. PCCs can also be used for asset holding, structure finance and insurance business.
A Trust is an arrangement for the holding and administration of property under which property or legal rights are vested by the owner of the property (the Settlor) in a person or persons (the Trustees). The Trustees then hold the property for or on behalf of other persons (the Beneficiaries). A trust, governed by the Trust Act 2001, is a legal structure whereby a settlor transfers his assets to the trustees, to hold for the benefit of beneficiaries, as per the terms of a trust deed. There are many types of trusts and many purposes for their creation.
A foundation, is a legal entity with hybrid features of a company and a trust. A foundation benefits from the administrative flexibility of a company. A foundation may be set up by a charter or will, which specifies its beneficiaries, purposes and objects. A foundation is governed by the foundation act 2012. A Foundation is an alternative vehicle to a Trust and is convenient for succession planning and private wealth management.
A collective investment scheme is a scheme or arrangement made or offered by an entity under which the contributions, or payments made by the investors, are pooled and utilized with a view to receive profits, income, produce or property, and is managed on behalf of the investors. The collective investment scheme is regulated by the Securities (collective investment schemes & close end funds) Regulation 2008. The Financial Services Commission generally wish to satisfy itself that, as far as possible, substance and central administration is in Mauritius. To this end, the fund must have a local administrator, a local custodian, and a local auditor.
A Limited Partnership (LP) is a vehicle designed to bring flexibility in the corporate sphere. LPs having a legal personality are legal persons distinct from their members. This means they can enter into contracts, own property, sue and be sued in their own names, making them much more flexible than a company structure. Limited Partnership is governed by the Mauritius Limited Partnership (LP) Act 2011.The constitution and governance of an LP are set out in the partnership agreement. This flexibility means that the LP partners are free to choose the structure which works best for them. An LP may apply for a Global Business Licence in order to take advantage of the tax credit under the network of Double Taxation Avoidance Agreements and Investment Promotion and Protection Agreements that Mauritius has entered into with various countries