Regulatory Alerts2014-10-27
Guideline for the Setting up of Representative Offices in Mauritius
The Bank of Mauritius has issued this guideline to establish the statutory requirements and application procedures for foreign banks seeking prior written approval to operate representative offices in Mauritius. The framework mandates a designated Chief Representative, restricts operations to liaison and market research activities while prohibiting direct banking business, and requires the display of specific disclosures alongside compliance with home-country supervisory standards. The Bank retains full inspection and revocation authority, enforces a structured thirty-to-forty-five-day approval window, and imposes annual licensing fees alongside strict reporting obligations for confidentiality breaches and operational changes.
Share