About Mauritius Global Treasury Activities Licence
The Mauritius Global Treasury (GTA) Activities Licence enables multinational enterprises (MNEs) to set up or relocate their regional treasury management functions to Mauritius.
Since replacing its previous deemed tax credit regime with a new partial tax exemption regime that is based on OECD and EU guidance and requirements, Mauritius has re-established itself as a jurisdiction of ‘substance’. Following its removal from the FATF’s increased monitoring process, it has also now reinforced its position as an International Financial Centre (IFC) of repute.
The GTA Licence opens many doors for MNEs. It allows them to relocate their regional treasury management functions to a jurisdiction that ranks first amongst the African countries – and 13th out of 190 countries worldwide – in the World Bank’s ‘Ease of Doing Business 2020’ index.
Mauritius offers a fully functioning and effective legal system, a robust and compliant regulatory system, a highly competitive tax environment and an extensive network of double tax agreements. It also offers a ready supply of skilled and educated staff and a strong cohort of lawyers, accountants and other professionals – whose services can typically be obtained at lower cost than in many equivalent jurisdictions.
Mauritius is also home to some of the biggest and most reputable international banks and permits bank accounts to be kept in all major currencies and there are no exchange control regulations. All these factors reinforce Mauritius’ position as a leading investment destination and domicile of choice for structuring cross border investment into Africa and Asia.
Companies holding a GTA Licence are expected to provide at least three treasury services to three or more related companies, including (but not limited to) the following:
Companies holding a GTA Licence are eligible for a tax holiday of five years on corporate income, subject to meeting licensing requirements. There are also no capital gains tax or withholding tax on dividends and interest in Mauritius.
Further to standard Global Business Company (GBC) licencing requirements, a company that holds a GHA Licence is also required to meet the following economic substance requirements:
How Sovereign can assist
Sovereign Trust (Mauritius) Ltd is duly licensed as a Management Company by the Financial Services Commission of Mauritius to provide a wide range of services, which includes customised incorporation of companies involved in global businesses. It also provides related services such as nominee directors / shareholders, bank accounts, tax residency certificate, back-office facilities, remailing, fax, telephone and office facilities, accounts and audit.
Sovereign offers the necessary expertise and experience in assisting with special licence applications. We will provide full support during the application process to ensure that your business is properly set up and licenced in Mauritius.
Beyond the application phase we will provide a full suite of services to provide ongoing support to your business, including assistance with opening a corporate bank account, accounting and payroll services, office spaces and compliance and specialist insurance services.
Sovereign further provides ongoing licence administration and management to ensure that holders remain in full compliance with all corporate and licensing requirements and to ensure that their affairs are properly managed and controlled from their place of incorporation.
Mauritius offers a wide selection of licence types to specialist financial services providers that are looking to set up and do business in and from Mauritius. Sovereign is ready to assist with any enquiry.