GLOBAL TREASURY ACTIVITIES LICENCE
The Global Treasury Activities Licence allows multinational companies to set up or relocate their regional treasury management functions to Mauritius. Companies who hold this Licence are eligible to a five year tax holiday.
Companies wishing to apply for a Global Treasury Activities Licence are expected to provide at least three treasury services to three or more related companies which are listed below:
- Arrangements for credit facilities , including credit facilities with funds obtained from financial institutions in Mauritius or from surpluses of network companies
- Arrangement for derivatives
- Corporate financial advisory
- Credit administration and control
- Factoring, forfeiting and re-invoicing activities
- Guarantees ,performance bonds, standby letters of credit and services relating to remittances
- Management of funds for designated investments
- It should have a physical office in Mauritius
- It should employ a minimum of four professionals with at least one at managerial level
- It should incur annual expenditure of at least MUR 2 million ( approximately USD 50,000)
- Banking
- Financial Services
- Provision of registered office facilities; nominee service; directorship services; secretarial services or other services for corporations
- Providing trusteeship services by way of business
- There is no minimum capital requirement but at least one share must be issued and paid up.
- The Directors are required to ensure that the company satisfies the solvency test after making distributions
- Minimum Shareholder: 1 Maximum Shareholder: 25
- Registered shares, preference shares, redeemable shares and shares with or without voting rights are permitted
- Par value shares may be stated in more than one currency
- Fractional shares are allowed
- Shares may be subscribed by nominees
- Shareholders may be individual or corporate
- Eligible for a tax holiday for 5 years on corporate income
- Resident for tax purposes
- Can benefit from double tax treaties the country has with many jurisdictions
- No withholding tax on dividends
- No capital gains tax