Global Headquarters Administration and Global Treasury Activities

The Honourable Minister of Finance and Economic Development, Pravind Jugnauth, had announced certain measures in his 2016-2017 budget speech aimed to promote the global business sector. 

These measures and the corresponding fiscal incentives were enacted through the Income Tax (Amendment of Schedule)(No 2) Regulations 2016. The Financial Services Commission, Mauritius (FSC) has now issued Circular Letters that clarify the conditions to be satisfied to benefit from these incentives.

As mentioned in the Circular Letters, the licensee shall have physical office, minimum number of employees resident in Mauritius and minimum annual operating expenditure in Mauritius/assets under management as specified below.

Global Headquarters Administration

To benefit from this licence, the applicant must provide at least 3 of the following services to at least 3 related corporations :

  •   Administration and general management 
  •   Business planning and development and coordination 
  •   Economic or investment research and analysis 
  •   Services related to international corporate headquarters in Mauritius 
  •   Such other global headquarters administration services as may be specified in  FSC Rules 

Criteria to benefit from tax holiday

  • 8-year tax holiday to a corporation holding a “Global Headquarters Administration Licence’’, starting from the income year in which the corporation was granted the licence
  • It must employ 10 professionals with at least two at managerial positions and incur annual expenditure of MUR 5 million (approx. USD 143,OOO)

Global Treasury Activities

To benefit from this licence, the applicant must provide at least 3 of the following services to at least 3 related corporations :

  • Arrangement for credit facilities, including credit facilities with funds obtained from financial institutions in Mauritius or from surpluses of network companies 
  • Arrangement for derivatives 
  • Corporate finance 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 
  • Such other global treasury activity as may be specified in FSC Rules

Criteria to benefit from tax holiday

  • 5-year tax holiday to a corporation holding a “Global Treasury Activities Licence’, starting from the income year in which the corporation was granted the licence
  • It must employ four professionals with at least one at managerial position and incur annual expenditure of MUR 2 million (approx. USD 58,000)