News snippets from the Global Business Industry and others
Global Business & Financial Services
FSC: Financial Services (Crowdfunding) Rules 2021
In line with its strategy to sustain the growth of the FinTech ecosystem in Mauritius, the Financial Services Commission (FSC) has introduced the Financial Services (Crowdfunding) Rules 2021.
The use of technology in the financial services sector has been on the rise and in a bid to accommodate this global phenomenon, the Financial Services Commission (FSC) launched the FSC One Platform on 12 August 2021 in the presence of eminent political figures as well as key industry players.
On 9 August 2021, the Financial Services Commission (FSC) released a communique to inform its stakeholders of the recently signed cooperation agreement with the “Autorité de Régulation et de Contrôle des Assurances” of the Democratic Republic of Congo (ARCA).
We communicated in one of our past publications the decision of the Financial Action Task Force (FATF) to carry out an on-site visit to Mauritius further to the country having substantially completed its action plan at technical level.
Further to a meeting held by the Monetary Policy Committee (MPC) on 4 August 2021, the Bank of Mauritius (BoM) has announced that it is keeping the Key Repo Rate (KRR) unchanged at 1.85% per annum.
Mauritius admitted to GFXC’s Global Index of Public Registers
On 15 July 2021, the Public Register for banks licensed in Mauritius by the Bank of Mauritius (BOM) was admitted to the Global Index of Public Registers.
Mauritius lifts travel ban for South Africa and Brazil
Ahead of the full reopening of borders on 1 October 2021, the government has taken the decision to lift the longstanding travel ban for the following categories of travelers:
1. Passengers from South Africa and Brazil; and
2. Passengers who have transited through these countries 15 days before entering Mauritius.
This decision came into effect as from 9 September 2021.
Easing of travel protocols for vaccinated travelers as from 1 September 2021
Starting as from 15 July 2021, Mauritius has begun welcoming travelers back for resort tourism as part of its two-phased reopening strategy.
On 6 August 2021, the Seychelles Ministry of Finance, Economic Planning and Trade announced that a tax exemption will be applied to private pension benefits.
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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.
