Introduction
As from 1st January 2015, global business companies domiciled in Mauritius must demonstrate additional substance provisions to meet new guidelines of the Financial Services Commission of Mauritius. As per Chapter 4 of FSC’s Guide to Global Business, a GBC1 would need to fulfill at least one of the following criteria:

  1. The corporation has or shall have office premises in Mauritius
  2. The corporation employs or shall employ on a full time basis at administrative/technical level, at least one person who shall be resident in Mauritius
  3. The corporation’s constitution contains a clause whereby all disputes arising out of the constitution shall be resolved by way of arbitration in Mauritius
  4. The corporation holds or is expected to hold within the next 12 months, assets (excluding cash held in bank account or shares/interests in another corporation holding a Global Business Licence) which are worth at least USD 100,000 in Mauritius
  5. The corporation’s shares are listed on a securities exchange licensed by the Commission
  6. It has or is expected to have a yearly expenditure in Mauritius which can be reasonably expected from any similar corporation which is controlled and managed from Mauritius.

Ways LCF can assist Global Business companies to satisfy the new guidelines 
Being a member of the Stock Exchange of Mauritius (SEM) and licensed as a full service investment dealer by the FSC, LCF can assist GBC1 to meet the new substance provisions:

  • purchasing investment securities, including listed and unlisted equities and fixed income instruments [Criteria 4] and;
  • acting as sponsor broker to seek the listing of companies on the SEM [Criteria 5]
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