Insight

Mauritius Budget 2026/27: what it means for GBCs, trusts and family offices

The 2026/27 Budget avoids broad tax increases for global business. The changes that matter are about substance, transparency and the shape of future services such as private wealth and family offices.

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Budget 2026/27

Presented on 19 June 2026. Many measures await the Finance Bill.

· Fideco Global, Mauritius Business & Structuring

Modern commercial district in Mauritius
The short version

Continuity for global business, with tighter rules on substance and transparency.

Commentary on the Budget presented on 19 June 2026 points to no broad-based tax increases and no fundamental overhaul of the Global Business Company (GBC) regime.

For GBC owners, trustees and families using Mauritius structures, the practical points are: enhanced substance expectations, changes affecting Tax Residence Certificates, a VAT change for certain management services, mandatory beneficial ownership disclosure and a new Private Wealth Management Licence.

This article is general information, not legal or tax advice. It is based on the Budget as presented and published adviser commentary. Most measures are proposals until the Finance Bill and regulations are enacted, and some have no stated commencement date. Confirm the position against the enacted legislation before acting.

At a glance

Budget 2026/27 for your structure.

What has been reported for each type of structure.

Global Business Companies

No overhaul of the regime. Enhanced substance expectations, Tax Residence Certificate changes, and a VAT change for certain management services.

Trusts and foundations

No significant new tax measures reported. Mandatory beneficial ownership disclosure and wider AML/CFT supervision, including of charitable foundations.

Family offices and private wealth

No new tax measures reported. A new Private Wealth Management Licence is announced, with details still to come.

These are headlines only. How a measure affects a given structure depends on its activities, income and the final legislation.

Global Business Companies

What changes for GBCs.

The core GBC framework stays in place. The reported changes are targeted.

Enhanced substance. Certain categories of foreign-source income may become taxable where a company does not meet enhanced substance requirements. Details have not yet been published. Substance has always supported treaty access and the partial exemption; this signals closer scrutiny.

Tax Residence Certificates. Fees are expected to rise and the conditions for obtaining a certificate are under review. Specific amounts and conditions have not been published.

Partial Exemption Regime. The regime is proposed to extend to certain non-securities assets held by licensed asset managers and investment advisers, such as private credit, loan portfolios, mortgage-backed exposures and invoice financing.

Global minimum tax. The qualified domestic minimum top-up tax (QDMTT) is to be aligned with the OECD GloBE rules. This matters mainly for groups within the scope of those rules.

Start-ups. The income tax holiday for start-ups is reported to run from the start of commercial operations rather than from incorporation.

VAT

Management services: zero-rated becomes exempt.

Management licence services supplied to specified Global Business structures are reported to move from VAT zero-rated to VAT-exempt.

Zero-rated suppliers can generally recover VAT on their costs; exempt suppliers generally cannot. The change may therefore affect how management services are priced across the sector. Zero-rating is reported to continue for eligible payment services supplied to Global Business Licence holders.

The structures covered and the effective date depend on the legislation. We will confirm the position with clients once it is published.

Trusts, foundations and family offices

Transparency up, new taxes absent.

No significant new tax measures targeting trusts, foundations or family offices have been reported.

Beneficial ownership. Beneficial ownership disclosure becomes mandatory, with filing obligations extended to sociétés. Company service providers may face fines of up to Rs 200,000 for non-compliance.

Supervision. The Registrar is to be empowered to carry out AML/CFT supervisory inspections on charitable foundations under FIAMLA.

Private Wealth Management Licence. The Government plans to develop the family office and wealth management sector and to introduce a new licence. Eligibility, fees and timing have not been published. Families considering Mauritius should watch for these rules.

Regulation and fintech

The wider regulatory direction.

Reported items that shape the environment around global business.

Financial Services Act reform

A comprehensive reform is announced, with expanded enforcement powers under FIAMLA and licensing and supervisory changes affecting management companies and trust and corporate service providers. No specifics yet.

Fintech frameworks

Work is planned on regulatory frameworks for stablecoins and tokenised real-world assets, an open banking framework, and changes to the virtual asset and ITO legislation.

Compliance standing

Advisers link the Budget's integrity measures to maintaining Mauritius's standing ahead of the 2027 FATF/ESAAMLG mutual evaluation.

Fiscal stance

The deficit is targeted to fall from about 6.0% to 3.7% of GDP, with broad-based tax increases reportedly avoided.

Practical steps

What to do now.

1. Review substance. Check that resident directors, board decision-making, local expenditure and records match the activities of each GBC.

2. Check Tax Residence Certificate needs. If you rely on treaty access, plan renewals with the possible fee and condition changes in mind.

3. Update beneficial ownership records. Make sure beneficial owner information for companies, trusts and sociétés is complete and current.

4. Review service fees. Ask your management company how the VAT change will affect fees once the rules are final.

5. Watch the Finance Bill. Most measures become binding only once enacted. Fideco will update clients as the detail emerges.

FAQ

Frequently asked questions.

Short answers on what the Budget means for global business structures.

Published adviser commentary reports no broad-based tax increases and no fundamental overhaul of the GBC regime. Several targeted measures are flagged, including enhanced substance requirements, changes to Tax Residence Certificate conditions and fees, and alignment of the qualified domestic minimum top-up tax with OECD rules. Details depend on the Finance Bill.

No significant new tax measures targeting trusts, foundations or family offices have been reported. The emphasis is on transparency: mandatory beneficial ownership disclosure and wider AML/CFT supervision.

The Budget announces a new licence to support Mauritius as a regional hub for private wealth and family office services. Eligibility criteria, fees and timing have not been published at the time of writing, so we will update this page when the rules are available.

The Budget moves management licence services supplied to specified Global Business structures from zero-rated to VAT-exempt. Exempt supplies generally do not allow the supplier to recover input VAT, so the change may affect how such services are priced. The final position depends on the legislation and the structures it specifies.

The Budget was presented on 19 June 2026. Most measures are proposals until the Finance Bill and related regulations are enacted, and commencement dates for many have not been stated. Check the enacted legislation before acting.

Fideco perspective

Plan from substance, not headlines.

Budget headlines rarely change what a well-run structure needs: genuine substance, accurate records and advice tied to the specific facts.

Related services: Tax advisory · Management and administration · Trusteeship · Company formation

Want to know how the Budget affects your structure?

Our advisors can review your GBC, trust or family office arrangements against the measures announced and the substance they require.

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