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MAURITIUS EXITS THE EU BLACKLIST
In an official publication released on 7th January 2022, The European Commission has proceeded to withdraw/remove Mauritius from their list of High Risk Third countries (often referred to as the EU Blacklist). The EU commission cited that it is satisfied that Mauritius has met the requirements laid out by the…
MAURITIUS RESIDENCE VISAS – TIME TO CONSIDER THEM
With the new year upon us again it makes sense for you to consider taking advantage of two really beneficial visas offered by Mauritius. Retiree visa One of the easiest visas to obtain in Mauritius. In order to obtain one, you need to be over 50, be able to remit…
MAURITIUS EXISTS THE UK LIST OF HIGH-RISK COUNTRIES
On the 2nd November 2021, the United Kingdom removed Mauritius from its list of high-risk countries under the UK’s Money Laundering and Terrorist Financing (Amendment) (No. 3) (high-risk countries) Regulations 2021. The decision followed shortly after the Financial Action Task Force (FATF) announced at the October 2021 plenary that Mauritius…
MAURITIUS EXITS THE FATF “GREY LIST”
The Financial Action Task Force (FATF) held its October plenary this week, and upon its conclusion on 21st October 2021, it was announced by the president of the FATF, Mr. Marcus Pleyer, that “after completing its action plan and a successful onsite visit by FATF team, Mauritius has been removed…
MAURITIUS ANNOUNCES THE REMOVAL OF THE TRAVEL BAN ON SOUTH AFRICA
After nearly 18 months, borders between South Africa and Mauritius are opening once again and the travel ban on South Africa has been lifted, effective 10th September and commercial flight operations will resume on 1st October 2021. This welcome announcement comes as a large relief to many South Africans who…
AMENDMENTS TO BVI’S PRIVATE TRUST COMPANY REGULATIONS – 2021
The BVI has become the jurisdiction of choice for private trust companies following the introduction of the Financial Services (Exemptions) Regulations, 2007 (as amended, “the PTC Regulations”). Currently there are more than 1000 of these private trust companies that have been established to date. A number of amendments to the…
RETIREMENT IN MAURITIUS AN OVERVIEW
Mauritius has a lot to offer those who are looking for an ideal location to spend their retirement years. With a tropical climate, mountains, beautiful beaches, and clear blue waters, there is something for everyone. In the 2021/2022 budget speech, the Mauritian government announced that they wish to attract 50,000…
HOLDING COMPANY FOR INVESTMENT INTO AFRICA: MAURITIUS V THE REST?
For a long time Mauritius has been perceived as the country of choice to facilitate entry into Africa, but the fact remains that Mauritius has made a lot of changes recently, not all of them positive, and so it is worth examining whether that is still the case or not.…
MAURITIUS ON COURSE TO EXIT THE FATF “GREY LIST”
During the June 2021 Plenary held by the Financial Action Task Force (FATF), it was determined that Mauritius has substantially completed its Action Plan of implementing the necessary anti-money laundering and combating terrorism financing (AML/CFT) reforms ahead of the agreed deadline and has been commended for the progress it has…
SOUTH AFRICA EXCHANGE CONTROL – “LOOPING” STRUCTURES
SUBMISSION OF REPORTS TO THE FINANCIAL SURVEILLANCE DEPARTMENT OF THE SOUTH AFRICAN RESERVE BANK (SARB) RELATING TO THE ACQUISITION OF SOUTH AFRICAN ASSETS VIA OFFSHORE LOOP STRUCTURES. In the Exchange Control Circular 1/2021 of the SARB, it is noted that the full ‘loop structure’ restriction has been lifted to encourage…