Comparison
GBL vs Authorised Company
The GBL and Authorised Company serve different purposes. One is built for treaty access and onshore substance; the other is a lean offshore vehicle.
Key differences
| Attribute | GBL | Authorised Company |
|---|---|---|
| Legal personality | Yes (separate legal entity) | Yes (separate legal entity) |
| Tax residency | Tax-resident in Mauritius | Non-resident (central management outside Mauritius) |
| Treaty access | Yes — 45+ double-taxation agreements | No |
| Ownership | Majority non-resident shareholders | Foreign-owned, managed from abroad |
| Resident directors | At least 2 | Not required |
| Minimum capital | No statutory minimum | No statutory minimum |
| Audit | Mandatory — audited accounts in Mauritius | Financial Summary filed with FSC |
| FSC licensing | Global Business Licence (GBL) required | Registered agent (MC) required; no GBL |
| Substance | CIGA in/from Mauritius, resident directors, local board meetings, principal bank account | Central management and control outside Mauritius |
| Typical uses | Holding, IP, treasury, regional HQ, fund umbrella | Offshore holding, financing, trading, real-estate SPV |
| Reporting | Annual FSC and MRA returns; beneficial-ownership register | Financial Summary to FSC; beneficial-ownership at registered office |
| Setup time | 4–6 weeks | 2–3 weeks |
| Ongoing complexity | Moderate — ongoing substance, audit and reporting obligations | Low — no substance obligations, limited reporting |
Legal personality
GBL
Yes (separate legal entity)
Authorised Company
Yes (separate legal entity)
Tax residency
GBL
Tax-resident in Mauritius
Authorised Company
Non-resident (central management outside Mauritius)
Treaty access
GBL
Yes — 45+ double-taxation agreements
Authorised Company
No
Ownership
GBL
Majority non-resident shareholders
Authorised Company
Foreign-owned, managed from abroad
Resident directors
GBL
At least 2
Authorised Company
Not required
Minimum capital
GBL
No statutory minimum
Authorised Company
No statutory minimum
Audit
GBL
Mandatory — audited accounts in Mauritius
Authorised Company
Financial Summary filed with FSC
FSC licensing
GBL
Global Business Licence (GBL) required
Authorised Company
Registered agent (MC) required; no GBL
Substance
GBL
CIGA in/from Mauritius, resident directors, local board meetings, principal bank account
Authorised Company
Central management and control outside Mauritius
Typical uses
GBL
Holding, IP, treasury, regional HQ, fund umbrella
Authorised Company
Offshore holding, financing, trading, real-estate SPV
Reporting
GBL
Annual FSC and MRA returns; beneficial-ownership register
Authorised Company
Financial Summary to FSC; beneficial-ownership at registered office
Setup time
GBL
4–6 weeks
Authorised Company
2–3 weeks
Ongoing complexity
GBL
Moderate — ongoing substance, audit and reporting obligations
Authorised Company
Low — no substance obligations, limited reporting
When to choose the GBL
You need treaty access
The GBL is tax-resident in Mauritius and qualifies for benefits under the 45+-treaty network. If you are routing investment into India, China, South Africa, or any treaty jurisdiction, the GBL is the only option.
The 80% partial exemption on qualifying foreign-source income can bring the effective rate on dividends, interest, and royalties down to approximately 3%, subject to applicable conditions.
The GBL is also the correct vehicle for IP holding, treasury operations, regional headquarters, and fund umbrella structures.
When to choose the Authorised Company
You don't need a treaty
The Authorised Company is non-resident for Mauritius tax and has no treaty access. It is designed for pure offshore holding, financing, and trading where treaty relief is not required.
There are no substance obligations, no audit requirement, and no resident directors. The result is a materially cheaper vehicle to establish and maintain.
Typical uses include intra-group financing (without treaty needs), real-estate SPVs, international trading, and asset-protection structures.
At a glance
Treaty access
The single biggest differentiator. GBL accesses 45+ DTAAs; AC accesses none. If your structure touches a treaty jurisdiction, GBL is the answer.
Cost to run
The AC has no substance obligations, no mandatory audit, and fewer filings. Annual maintenance costs are significantly lower than a GBL.
Setup speed
AC incorporates in 2–3 weeks; GBL takes 4–6 weeks including the GBL application and bank account. Both are from complete KYC files.
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