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Mauritius exits EU List of High-Risk Third Countries with Deficiencies in AML/CFT Regime. The EU Commission Delegated Regulation of 7th January 2022 stated: “The FATF welcomed significant progress made by Botswana, Ghana and Mauritius in improving its AML/CFT regime and noted that Botswana, Ghana and Mauritius have established the legal and regulatory framework to meet the commitments in their action plans regarding the strategic deficiencies that the FATF had …

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Good news for the tourism, financial services and real estate sectors in Mauritius, as of this Friday, 7 January, the Covid-19 travel ban imposed by Mauritius on South Africa, Botswana, Namibia, Zimbabwe, Mozambique, and Zambia amongst others, is officially lifted. As commercial flights are resuming their connections, travelers can start planning their stay in Mauritius, the perfect place to start the year. Moreover, with more than 951 000 Mauritians primo-vaccinated, Mauritius remains a safe …

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Mauritius is now off the United Kingdom’s list of High-Risk Third Countries as communicated by the Financial Services Commission (FSC) on 5 November 2021. This announcement follows the delisting of Mauritius by the FATF. The amendments made by the United Kingdom (UK) to the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 is the reason for the removal of Mauritius as a high-risk …

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The Economic Development Board (EDC) has recently released their latest Corporate Film about Mauritius called “Mauritius, A Thriving Business Centre in the Indian Ocean” The EDB synergizes efforts across all ministries and with private stakeholders to meet the set goals.  The EDB is responsible to drive research projects and lead initiatives with other stakeholders and address issues such as a mismatch in the education and labour system; the impact …

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The International Consortium of Investigative Journalists (ICIJ) published various articles on Mauritius on the 23rd of July 2019, in the so-called “Mauritius Leaks”. Joint Communication by the Ministry of Finance and Economic Development, Ministry of Financial Services and Good Governance, the Financial Services Commission, and the Economic Development Board of Mauritius on the “Mauritius Leaks” was published on the 25th of July 2019. The Government of Mauritius has taken …

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Mauritius ranked under top 20 in Global Peace Index (GPI) 2018, 1st in Sub-Saharan Africa   Global Results of the 2018 GPI   The twelfth edition of the Global Peace Index (GPI) was recently released.  The GPI ranks 163 independent states and territories according to their level of peacefulness.  This report presents the most comprehensive data-driven analysis to-date on trends in peace, its economic value, and how to develop peaceful …

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Limited Liability Partnerships Bill   The Limited Liability Partnerships Bill which has been published in Government Gazette of Mauritius No. 103 of November 2016.   The Limited Liability Partnerships Bill has been introduced in the National Assembly with the aim of better positioning Mauritius as an international financial centre. The limited liability partnership is a vehicle which acts as a body corporate formed by registration and has a legal personality …

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Income Tax Act 2016/2017 Tax Holiday for Global Business Companies were announced in the budget speech 2016/2017.  The speech included changes proposed to the Income Tax Act that would allow more fiscal flexibility to investors operating in the finance sector.  The budget speech 2016/2017 included the following:   Tax holiday for business income The 8-year tax holiday in respect of business income is being extended to new enterprises set up by …

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Mauritius tops the rankings in Africa and is placed at the 5th position worldwide with regard to Economic Freedom according to the Fraser Institute’s annual Economic Freedom of the World report released on 15th September 2016 in Canada.   With an average score of 7.98 Mauritius is tied for fifth along with Canada; Georgia; Ireland; and United Arab Emirates and is positioned among the top rated ten countries with an economic freedom …

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What is this filing of particulars about? Section 127 of the Mauritius Companies Act 2001 (Act) deals with the filing of details of any security interest created by a company over its assets with the Registrar of Companies in Mauritius (ROC).   Details of which type of security interests need to be filed? The provision refers to “charges” which under the meaning of the Act, refers to most forms of …

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The United Nations e-Government Survey 2016 ranks Mauritius first in Africa (followed by Tunisia) and 58th worldwide, with an e-Government Development Index of 0.6231. In 2014 Mauritius was ranked 76th and Tunisia 75th.   Issued at the moment when countries are launching the implementation of the 2030 Agenda for Sustainable Development, the survey offers a snapshot of trends in the development of e-government in countries across the globe. It provides new evidence …

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Extracts of the Budget Speech 2016/2017 – ‘A New Era of Development’   The Hon. Pravind Jugnauth, the Minister of Finance and Economic Development presented, on 29 July 2016, the national Budget speech 2016/ 2017. Some of the measures relating to the financial services sector include: Financial services: reaching out to new markets GBC2 companies will now be allowed to invest in listed securities. Companies holding a ‘Global Headquarters …

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