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If you wish to view this edition of our ITL e-News in PDF, please click on the link below.
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News snippets from the Global Business Industry and Others |
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Covid-19 updates : Entry to Mauritius prohibited for UK and South African passengers
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As communicated in our recent e-news, the government approved the extension of the quarantine period from 15 January 2021 to 15 February 2021.
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Global Mobility Report 2021 (1st Quarter): Mauritius passport allows visa-free access to 146 destinations
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As the Covid-19 pandemic rages on, governments around the World are being forced to reinstate lockdowns and quarantine restrictions.
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FSC: Submissions under the Insurance (Risk Management) Rules 2016
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The Financial Services Commission (FSC) has released a circular letter on 29 December 2020 to inform Insurers licensed under Section 11 of the Insurance Act 2005 of the submission of their documentation and reports in relation to their Risk Management Framework (together referred as “RMF Returns” hereafter).
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Financial Reporting Council: Rotation of Audit Firms for Listed entities
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| The Financial Reporting Council (FRC) released a correspondence on the rotation of audit firms. As per section 41A (1) of Financial Reporting Act (FRA), an audit firm cannot undertake the statutory audit of the same listed entity continuously for more than seven years (the seven-year duration).
The FRC hereby informs listed entities that after the expiry of the seven-year duration, an audit firm will be prevented from undertaking the statutory audit of the same listed entity before a cooling off period of at least three years.
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Introduction of a Sandbox Framework
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| In a view to promote the use of novel technologies by Ministries and Departments, the cabinet has approved the introduction of a Sandbox Framework (the “Framework”).
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Brexit: Entry into force of the UK-Eastern and Southern Africa Economic Partnership Agreement
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| | In order to transition the trade agreements that the European Union (EU) has concluded with third countries, the UK agreed to continue the effect of its current arrangements through the EU by signing separate continuity agreements with many third countries.
To that effect, the United Kingdom -Eastern and Southern Africa Economic Partnership Agreement (the “UK-ESA EPA”) - based on the EU –ESA interim Economic Partnership Agreement (the “EU-ESA EPA”) was concluded in 2019. The UK-ESA EPA is effective as from 1 January 2021.
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| Mauritius-China Free Trade Agreement
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| On 1 January 2021, following the completion of ratification procedures by both countries, the Free Trade Agreement (FTA) signed in October 2019 between the Republic of Mauritius and the People’s Republic of China1 in Beijing came into force.
Read more>>
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| African Continental Free Trade Area effective as from 1st January 2021
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Put in place with a view to create a single continent-wide market for goods and services and to promote the movement of capital
and individuals, the African Continental Free Trade Area (AfCTA) takes effect as from January 1st 2021. |
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ITL Data Protection compliance programme - Reminder
As you are aware, we hold your contact details on our database and have been sending you regular newsletters and updates about the latest developments in the Mauritius financial landscape and other areas of interest.
Following recent changes in the EU General Data Protection Regulation (GDPR) and the Mauritius Data Protection Act 2017, we now require your consent to hold your personal data. Please click here to confirm that you still want to hear from us and get the latest news about the Mauritius International Financial Centre.
Should you wish to opt out of our future e-mail communications, please click here to stop receiving correspondence from ITL. Alternatively, you may use the unsubscribe button at the bottom of all our communications or send us an e-mail at unews@intercontinentaltrust.com
Data security and protection is of prime importance to us and we invite you to read our privacy policy which provides information about how we manage and process your personal information.
We are only a phone call or an e-mail away. If you have any comments, questions or concerns about any of the information in our policy, or any issues relating to the processing of personal data by ITL, please contact your regular contact person at ITL or write to us on dpo@intercontinentaltrust.com
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DISCLAIMER The information in this e-newsletter was prepared by Intercontinental Trust Limited to provide potential clients with a broad overview of the opportunities available in Mauritius. While all reasonable care has been taken in the preparation of this e-newsletter, Intercontinental Trust Limited accepts no responsibility for any errors it may contain, whether caused by negligence or otherwise, or for any loss, however caused, sustained by any person that relies on it. Readers are advised to consult with appropriate, qualified professional advisors before taking action. Intercontinental Trust Limited will be pleased to discuss any specific issues.
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