Mauritius confirms its status as a jurisdiction of substance. Section 3 of Chapter 4 of the Guide to Global Business was amended in September. The amendments to the Guide require Category 1 Global Business Companies (‘GBC1s’) to have presence which can be reasonably expected from a corporation managed and controlled in Mauritius. In addition to existing requirements, other conditions which will be considered by the FSC include inter alia: having office premises, holding assets, employing staff and using the services of local providers. The GBC1s have to comply with these new requirements by 1 January 2015.
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