Regulatory Alerts2014-02-28
FSC Guide to Global Business - Amendments Chapter 4
The Financial Services Commission of Mauritius establishes criteria for Global Business Licence holders to qualify as conducting business outside the country, requiring that their ultimate investment or service purpose targets non-resident markets rather than merely serving overseas clients from within Mauritius. The guidelines permit specific domestic transactions, such as maintaining local bank accounts, leasing Mauritian property, and employing resident staff, while mandating annual director certifications and auditor certificates to verify compliance and track the proportion of business conducted locally. Furthermore, the Commission retains authority to restrict or remediate domestic operations when licence holders fail to meet regulatory conditions or act detrimentally to Mauritius’s public and economic interests.