Forming a Mauritius Global Business Company (GBC) is a significant step — but it comes with ongoing compliance obligations that must be met to keep your company in good standing and preserve its tax treaty benefits. Here's a comprehensive guide to annual compliance for your Mauritius GBC in 2025.
1. FSC Annual Licence Renewal
Your GBC licence issued by the Financial Services Commission (FSC) must be renewed annually. The renewal involves submitting a renewal application, paying the annual licence fee, and confirming that the company's activities remain within the scope of the licence. Failure to renew results in licence revocation, which terminates your DTAA access.
Timeline: Renewal applications are typically due by 31 January each year for the preceding year.
2. Annual Return Filing with ROC
Every Mauritius company must file an annual return with the Registrar of Companies (ROC). The return confirms the company's registered office, directors, shareholders, and share capital. Filing deadline: within 28 days of the anniversary of incorporation.
3. Audited Financial Statements
GBCs are required to prepare and submit audited financial statements to the FSC annually. The audit must be conducted by a Mauritius-licensed auditor. Statements must be filed within 6 months of the financial year end.
4. UBO Register Maintenance
Mauritius requires all companies to maintain an up-to-date Ultimate Beneficial Owner (UBO) register. Any change in beneficial ownership must be reported to the Registrar within 14 days. This is a FATF compliance requirement and non-compliance carries significant penalties.
5. Economic Substance Requirements
Post-2019, GBCs engaged in certain ‘relevant activities’ (banking, insurance, fund management, financing, leasing, headquarters, shipping, holding, intellectual property, distribution and service centres) must demonstrate economic substance in Mauritius. This means:
- Adequate number of qualified employees in Mauritius
- Adequate operating expenditure in Mauritius
- Core income-generating activities conducted in Mauritius
Blueberry's management company partners provide substance solutions including resident directors, office space, and local staff.
6. India-Side FEMA/RBI Compliance
For Indian residents (including NRIs in certain categories) who have made outbound investments through their Mauritius GBC, annual reporting to the Reserve Bank of India (RBI) is mandatory under FEMA. Key filings include:
- APR (Annual Performance Report): Filed by July 31 each year for the preceding financial year
- ODI (Overseas Direct Investment) reporting: For any new investments or changes in shareholding
Non-compliance with FEMA reporting attracts compounding penalties. Blueberry coordinates with your Indian CA to ensure timely filings.
Compliance Calendar Summary
| Obligation | Deadline | Authority |
|---|---|---|
| FSC Licence Renewal | 31 January | FSC Mauritius |
| Annual Return | 28 days post-anniversary | ROC Mauritius |
| Audited Accounts | 6 months post-year-end | FSC Mauritius |
| UBO Register Update | Within 14 days of change | ROC Mauritius |
| APR (India) | 31 July | RBI / AD Bank |
Let Blueberry Handle Your Compliance
Blueberry offers annual compliance retainer packages for Mauritius GBCs, covering FSC renewal, ROC filings, auditor coordination, and FEMA reporting liaison. Enquire about our compliance retainer →
Also read: Complete Guide to Company Formation in Mauritius | What is a Mauritius GBC? | Opening a Bank Account for Your Mauritius Company | Why NRIs Should Form a Company in Mauritius