News / Mauritius: Changes in Global Business Services, Financial Services and Fintech Sector

Mauritius : Changes in Global Business Services, Financial Services and Fintech Sector 

Mauritius has recently announced new changes to its Global Business Services, Financial Services and Fintech Sector, introducing a new harmonized fiscal regime for domestic and Global Business Companies.
The following changes will be implemented:

Financial services / Global Business Services

  • The Deemed Foreign Tax Credit regime available to companies holding a Category 1 Global Business Licence to be abolished as from 31st December 2018.
  • A partial exemption regime will replace the deemed foreign tax credit system as from 1 January 2019.
  • Introduction of a partial exemption regime, subject to satisfying pre-defined substantial activities requirement by the FSC, whereby 80% of specified income will be exempted from income tax, except for banks, and shall be applicable on: (i) Foreign source dividends and profits attributable to a foreign permanent establishment; (ii) Interest and royalties; and (iii) Income from provision of specified financial services.
  • The existing credit system for relief of double taxation will continue to apply where partial exemption is not available. Abolition of the Category 2 global business regime, with transitional provision for the current regime to continue until 30th June 2021 for companies, which have been issued a licence prior to 16th October 2017.
  • Where partial exemption is not available, GBL1 will benefit from the current foreign tax credit system (for taxes suffered on foreign source income);
  • The FSC will cease to issue Category 2 Global Business Companies licences as from January 2019; grandfathering is being catered for existing companies.
  • Enhanced substance requirements for Global Business Companies.
  • Establishment of a new framework to govern and improve the oversight of Management Companies.
  • Removal of all restrictions applicable to dealings in Mauritius.
  • Enhancing the Mauritius IFC - The Financial Services Commission (FSC) will partner with other key jurisdictions for the development of equivalence frameworks to enhance our competitiveness as a financial centre

  • The Government will implement a National Regulatory Sandbox License Committee for activities relating to Sandbox Licensing for Fintech activities.
  • The FSC will create new licenses to provide investors with a regulated environment for the safe custody of digital assets and to enable digital assets exchange. Creation of Custodian of Digital Assets license; and, Creation of the Digital Asset Marketplace license.
  • The FSC will implement guidelines on investment in cryptocurrency as a digital asset.
  • The FSC will ensure that applicants for Fintech Activities will have appropriate cyber-security and cyber-resilience policies and capacities.

If you are interested in setting up your company in Mauritius please contact us for a complimentary consultation at

Request more info

Sitemap | © Copyright, All Rights Reserved. | Designed & Developed by Dot.Cy