“Mauritius was made first, and then heaven, and heaven was copiedafter Mauritius.”
Mauritius: The INTERNATIONAL FINANCIAL SERVICES CENTRE
Comprehensive legislation was introduced to pave the way for non-banking offshore activities, following the set up of the first offshore bank in August 1989. The Offshore Authority was set up in November 1992 which played a crucial role in establishing and developing the offshore sector at large. The Authority has adopted a professional and pragmatic regulatory approach by continuously improving on its services and guiding operators on enhancing the competitiveness of the Mauritius offshore jurisdiction.
The Financial Services Act 2007 (FSA Act) also provides for the Financial Services Commission (FSC) to act as a one-stop-shop in all matters relating to Global Business. The FSC has also in place a fast-track incorporation and licensing procedure for bonafide urgent applications.
The approved Global Business activities include:
Human Resources: Mauritius enjoys a literacy rate of over ninety per cent. Education is free, and the educational system is constantly being improved. Graduates and qualified professionals including lawyers, accountants and chartered secretaries are trained both locally and overseas.