The Financial Services Commission (FSC) is the regulator in Mauritius for the financial services sector other than banking and global business. Over the years, the FSC has been extremely prudent by adopting best international practices and introducing necessary safeguards in order to prevent misuse of Mauritius as an offshore jurisdiction.
The main statutory objectives of the FSC are:
Applications for global business licenses of Global Business Corporations and Authorised Companies are all processed by the FSC and it is only once the FSC has approved an application for a particular License that the company registration is finalized and the relevant Global Business License is then issued. Post licensing, the FSC does monitor the conduct of business activities of its licensees and focus is then laid on aspects like market conduct, Anti-Money Laundering and Combating the Financing of Terrorism requirements, corporate governance principles and international norms and standards.
There are many legal provisions governing the setting-up and operation of a global business company in Mauritius:
Companies Act 2001 – Company law which applies for all companies in Mauritius, including those operating with a global business license Read More...
Financial Services Act 2007 - Framework for licensing and supervision of all financial services other than banking, including the global business sector.Read More...
Securities Act 2005 -Framework regulating the securities market so as to keep abreast of international best practice and standards.Read More...
Trust Act 2001 - Framework regulating and allowing for the creation of different types of trusts, which may be set up by residents and non-residents.Read More...