5 Common Questions About Delays in Global Business Company (GBC) / Authorised Company (AC) Applications
Establishing a Global Business Company (GBC) or Authorised Company (AC) in Mauritius represents an excellent strategy for international business operations. However, many entrepreneurs and investors find themselves frustrated by unexpected delays in the application process. At GWMS Ltd, we understand these challenges and have helped hundreds of clients navigate the complexities of Mauritius business licensing. This article addresses the five most common questions we receive about delays in GBC or AC application process and provides expert insights to help you achieve a smoother, more efficient licensing process.
1. Why is the GBC or AC application process in Mauritius so lengthy?
In order to carry out global business and other financial services in Mauritius, individuals or entities must apply for a licence from the Financial Services Commission (FSC) of Mauritius. Applications for a GBC or an AC have to be submitted through a Management Company such as GWMS Ltd.
The FSC is the integrated regulator in Mauritius for financial services (other than banking) and global business.
The application process for a GBC or AC licence in Mauritius involves multiple regulatory bodies and compliance requirements designed to maintain the jurisdiction’s reputation for integrity, transparency and adherence to international norms and commitments. The FSC has implemented robust vetting procedures to ensure that only legitimate businesses receive licences and works closely with Management Companies to implement such procedures.
The typical timeline for obtaining a GBC or an AC licence depends on the completeness of the application submitted to the FSC by the Management Company. The law was amended in 2024 to provide that the FSC shall grant an application, save certain exceptions, within 10 working days from the date the application is determined to be complete, as defined in the applicable law.
The application is submitted to the Registrar of Companies (ROC) in the first stage. Once clearance is obtained from ROC, the licensing documents must be loaded on the FSC One online platform. The timeline at the level of ROC may be 3 to 5 working days or more.
Depending on the type of licence sought, FSC may take up to a month to revert with any queries or issue of the licence. Special licence applications may take longer.
Mauritius is committed to maintaining international standards and protecting its reputation as a well-regulated financial centre, hence, in certain cases, FSC may have extensive queries while none or minor queries in others. This thoroughness ultimately benefits licence holders by providing greater legitimacy and recognition for their Mauritius-based structures but also influences the timeline of issue of licences.
2. What are the common causes of delays in Global Business Company (GBC) / Authorised Company (AC) applications?
Understanding the common pitfalls can help you avoid unnecessary delays. Based on our extensive experience, these are the most frequent causes of extended processing times:
Incomplete Documentation
The FSC requires comprehensive documentation to process applications. Missing or incomplete documents can significantly delay approval. Common oversights include:
- Inadequate corporate or personal KYC documentation
- Insufficient detail in business plans or proposed activities
- Missing professional references or bank references
- Incomplete details about ultimate beneficial owners
Regulatory Concerns about Proposed Activities
Certain business activities receive heightened scrutiny, particularly those involving:
- Financial services requiring additional licensing
- Cryptocurrency or blockchain-related operations
- High-risk jurisdictions or politically exposed persons
- Novel business models without clear precedent in Mauritius
Complexity of Ownership Structures
Applications involving multi-layered corporate structures, trusts, or foundations often face longer processing times as regulators must understand the entire ownership chain to ensure compliance with beneficial ownership disclosure requirements.
Inadequate Substance Planning
Mauritius has strengthened its economic substance requirements in recent years. Applications lacking clear plans for genuine economic presence may face delays or requests for additional information regarding local operations, staffing, and decision-making.
Administrative Bottlenecks
Seasonal peaks in application volumes, staff shortages at regulatory bodies, or technology issues can sometimes create administrative bottlenecks that affect all applications regardless of their quality.
3. How can I expedite my Global Business Company (GBC) / Authorised Company (AC) application in Mauritius?
While the regulatory timeline contains certain fixed elements, several strategies can help minimise delays and achieve the fastest possible processing:
First, prepare comprehensive documentation packages that anticipate regulatory questions. This means not just meeting the minimum requirements but providing clear explanations that address potential concerns before they arise. Include detailed business plans, clear ownership charts, and comprehensive KYC documentation for all relevant parties.
Second, ensure substance compliance from the outset. Develop and articulate concrete plans for establishing economic substance in Mauritius, including, where applicable, office arrangements, local director appointments, and operational decision-making processes.
Third, maintain responsive communication channels. Many delays occur when regulators ask questions and receive slow responses. Designate a point person who can quickly address regulatory queries and provide additional information when requested.
Fourth, consider preliminary consultations with the FSC through your Management Company before formal submission. These discussions can identify potential issues early in the process and allow for adjustments before the official application clock starts running.
4. What role do experts play in speeding up the Global Business Company (GBC) / Authorised Company (AC) application process?
Professional and reputable management companies like GWMS Ltd play a crucial role in navigating the application process efficiently. Their value includes:
- Regulatory relationships: Established Management Companies maintain working relationships with regulators and understand their expectations and concerns.
- Pre-submission vetting: Experienced advisors can identify and address potential red flags before submission, reducing the likelihood of regulatory queries.
- Application packaging: Professionals know how to present information in a format that facilitates efficient review by regulatory authorities.
- Technical expertise: Navigating complex compliance requirements requires specialised knowledge of both regulatory requirements and practical implementation.
- Project management: Managing the timeline, coordinating multiple stakeholders, and ensuring prompt responses to regulator queries requires dedicated attention.
Working with a reputable management company like GWMS typically reduces processing time while significantly reducing stress and uncertainty.
5. What tools can assist with managing the Global Business Company (GBC) / Authorised Company (AC) application process?
As an illustration, GWMS leverages the following tools to streamline the process:
Cloud-Based Microsoft SharePoint Entreprise
Application forms and supporting documents are compiled and loaded onto GWMS’s SharePoint portal for easy access, any time, real time, from anywhere, and for easy uploading onto the FSC One platform.
FSC One platform
With the objective of ushering in an era of digital progress for financial services, the FSC launched its digital platform, FSC One, in 2021.
This FSC’s secure document collection portals allow Management Companies to upload required documentation in structured formats, ensuring completeness and reducing back-and-forth communications.
Transparency tools enable Management Companies to view their application status in real-time, providing visibility into which elements are pending, in process, or approved.
Automated Compliance Checks
Pre-submission screening tools used by GWMS can identify potential compliance issues before formal submission, allowing for corrections that prevent regulatory queries.
Let GWMS streamline your GBC/AC application process
While the Global Business Company (GBC) / Authorised Company (AC) application process in Mauritius involves inevitable regulatory timeframes, understanding the common causes of delays and implementing effective strategies can significantly improve your experience and outcomes.
By working with experienced advisors and utilising modern application management tools, you can transform what might otherwise be a frustrating process into a strategic advantage, ensuring that your international business structure rests on a solid foundation of regulatory compliance and operational readiness.
Contact our team at GWMS Ltd today to discuss how we can help you navigate the GBC or AC application process with confidence and efficiency, minimising delays and accelerating your path to successful international operations through Mauritius.
