All Mauritius trusts and foundations, resident companies set up before 2019, and resident companies set up during or after 2019 with approved institutional shareholders, are to be exempted from the new global business licensing regime introduced by last year's Finance (Miscellaneous Provisions) Act. The Act abolishes the category 2 global business regime as from 30 June 2021, potentially disadvantaging non-citizens who used Mauritius to carry out their offshore activities through a domestic company.