The new policy by Mauritius enables the Forex brokers, Crypto Exchanges, ICO companies, Prop Trading firms, Family offices, Wealth management companies to establish their company in Mauritius with ease of regulation, please check out the enhancement to the International Financial Centre Announced under this Budget as below.
The annual budget for Mauritius for the fiscal year 2024/2025 was presented on June 7, 2024, by Dr. the Honourable Renganaden Padayachy, the Minister of Finance, Economic Planning, and Development. This budget emphasized the slogan “Tomorrow is ours,” focusing on social protection and the restoration of purchasing power through a combination of subsidies and increased social benefits across the board.
Message from the Minister of Finance
“Every Mauritian plays a vital role in shaping our collective destiny. Let us work together towards the common good and social progress. Because the future is ours.”
MAURITIUS INTERNATIONAL FINANCIAL CENTRE (IFC)
To strengthen Mauritius’ position as an International Financial Centre, the budget includes several key measures:
- Review of the blueprint for financial services to address new challenges and opportunities.
- Attracting foreign talent in wealth management, family offices, virtual assets, and virtual tokens.
- Engaging in discussions with India for the development of the financial sector.
- Faster processing of investor queries and licenses.
- Expanding e-KYC to the global business sector.
- Amending the Freeport Act to allow a company to operate under both a Global Business License and a Freeport Certificate (subject to conditions).
- The Financial Services Commission will streamline the process for granting licenses and permits for faster approval.
- Extending the partial exemption regime to Payment Intermediary Services (PIS) license holders.
- The fund and asset manager certificate will be revised to require at least two qualified officers.
- The information centre of the Companies and Business Registration department will operate on a 24/7 basis.
- Amendments to the National Payment System Act will align payment instruments with virtual assets.
