Source: https://rivet.global/blog/mauritius-global-business-companies-substance-banking
Published: 2026-11-02 · Updated: 2026-11-02 · By William Sunjo M.

# Mauritius Global Business Companies: substance, licensing and banking

Mauritius GBCs are licensed by the FSC and must meet substance requirements. What a GBC needs, what banks and providers check, and how GBCs collect and pay in currencies.

## Key takeaways

- A Global Business Company (GBC) in Mauritius holds a Global Business Licence from the Financial Services Commission.
- GBCs must meet substance requirements, including resident directors, management in Mauritius and, for some activities, local expenditure and staff.
- A management company licensed by the FSC usually administers the GBC.
- Banks and providers check substance, ownership and the purpose of flows into and out of the GBC.

A private equity fund sets up a Mauritius GBC to hold investments in East African businesses. A licensed management company in Ebène administers it, two resident directors sit on its board, and board meetings happen in Mauritius. When the GBC opens accounts, each provider asks for the FSC licence, the directors' details, the beneficial owners and a map of expected flows by country.

## The GBC

Mauritius replaced its earlier GBC1 and GBC2 categories in 2019 with a single Global Business Company category, licensed by the Financial Services Commission (FSC). GBCs carry out international business, investment holding, treasury and similar activities.

## Substance

GBCs must meet substance requirements, including:

- at least two directors resident in Mauritius,
- board meetings and management decisions in Mauritius,
- a bank account in Mauritius,
- accounting records kept in Mauritius,
- for some activities, minimum local expenditure and employees.

Substance also underpins treaty access and the partial exemption regime.

## Banking

Banks and providers review:

1. The Global Business Licence and constitutional documents.
2. Directors and beneficial owners, matching the FSC's records.
3. The management company's role.
4. A clear description of investments and flows by country and currency.

## Currencies

GBCs commonly hold dollars, euros and other currencies for investments and distributions. The Mauritian rupee is used mainly for local costs.

## Paying into Mauritius: the local rail

| What | Detail |
|---|---|
| Local rail | MauCAS instant payments |
| Run by | Bank of Mauritius |
| Settlement | Seconds, 24/7 |

Source: [Bank of Mauritius: MauCAS](https://www.bom.mu/). Checked when this guide was last updated; the scheme's own page has the current figures.

## Where Rivet fits

A Rivet business account accepts registered companies after verification, including Mauritius GBCs, with the document list shown up front and a decision aimed within three business days. Approved companies get US account details on every plan, euro and sterling details from the Growth plan, and payouts in 120+ countries. Rivet is not a bank; regulated partner institutions hold the funds.

## Questions

### What is a Mauritius GBC?

A company holding a Global Business Licence from the Financial Services Commission, used for international business, investment and holding activities.

### What substance does a GBC need?

At least two resident directors, board meetings and management in Mauritius, a local bank account, accounting records in Mauritius and, for some activities, minimum local expenditure and employees.

### Who administers a GBC?

A management company licensed by the FSC, which also acts as the company's point of contact with the regulator.

### Can a GBC hold accounts in several currencies?

Yes. GBCs commonly hold dollars, euros and other currencies.