Regulatory Alerts2014-05-29
Amendments to the Guide to Global Business
The Financial Services Commission of Mauritius has amended Section 3 of Chapter 4 of the Guide to Global Business to require Category 1 Global Business Companies (GBC1s) to demonstrate sufficient local substance. These entities must now maintain office premises, hold assets, employ staff, and utilize local service providers to satisfy the statutory "managed and controlled" test. All affected GBC1s must implement these operational requirements by 1 January 2015.
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