The Mauritius Global Business Company (GBC) is Africa's premier treaty-backed holding and investment vehicle — combining FSC regulation, a network of 46+ double tax agreements, and genuine substance at competitive cost.
Mauritius has established itself as Africa's leading international financial centre, with the GBC as its flagship holding vehicle. GBCs benefit from Mauritius's network of 46+ double tax agreements — including key treaties with India, South Africa, China, and France — making them the structure of choice for investments into and out of Africa and South Asia.
Marensa Advisory has hands-on GBC formation and FSC compliance experience, advising clients on GBC structure design, substance requirements, tax treaty access, and ongoing FSC regulatory obligations.
Discuss GBC FormationSince 2019 reforms, GBCs require genuine substance. Understanding what counts as adequate substance before formation saves significant cost later.
The GBC is Africa's most widely used investment holding vehicle — but post-2019 substance requirements have made formation-without-compliance a costly mistake. Substance must be genuine, not nominal.
Marensa Advisory provides end-to-end GBC advisory — from initial structure design through FSC licensing, substance setup, DTA positioning, and ongoing compliance management.
Start the ConversationYes. Since 2019, GBCs must have a genuine local presence — a registered office is not sufficient. A minimum local office with management infrastructure is required. The FSC scrutinises substance at licence renewal.
A GBC can hold investments, but to conduct regulated fund management activities (e.g., managing third-party client funds), an FSC financial services licence (CIS Manager, Investment Adviser) is also required.
Yes. The former GBC1 (Global Business Licence 1) was rebranded as the GBC under the 2018 Financial Services (Amendment) Act. The 2019 reforms introduced stricter substance requirements and aligned GBCs with OECD BEPS standards.
GBC formation typically takes 4–8 weeks from submission of a complete application to the FSC, assuming all directors and beneficial owners pass the fit and proper assessment.