Regulatory Alerts2016-01-01
Financial Services (Consolidated Licensing and Fees) (Amendment) Rules 2016
The Financial Services Commission issued these 2016 rules to amend Mauritius' captive insurance licensing framework by updating the First Schedule of the principal 2008 regulations. The amendment establishes a standardized classification table that assigns specific licence codes (CI-1.1 and CI-2.1), mandates a US$2,000 processing fee for pure captive businesses, and sets fixed annual fees of up to US$1,500 for captive insurance agents. These revised fee structures and code classifications take immediate effect upon gazette publication to standardize regulatory compliance for market participants.
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