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NEWSLETTER – JULY 2022
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Amendments to Competency Standards with respect to Money Laundering Reporting Officer and Compliance Officer
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The Financial Services Commission brought several amendments with regards to the Competency Standards in June 2022 and it concerns mainly the competency requirements for the appointment of Money Laundering Reporting Officer, Deputy Money Laundering Reporting Officer and Compliance Officer.
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Streamlining the procedures for OPs and YPOPs |
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As a measure for business facilitation, Mauritius allows foreigners various opportunities to obtain residence permit in Mauritius, in the form of Occupation Permits (OP) and Young Professional Occupation Permits (YPOP), to work and live on the island.
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Entry requirements (As from 01 July 2022)
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As from 1 July 2022, irrespective of the vaccination status, individuals are no longer required to provide a negative PCR test result prior to coming to Mauritius and in addition, no test for covid is required upon arrival in Mauritius.
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Variable Capital Company (VCC) |
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The process of making a law of Variable Capital Companies Act (‘VCC Act’) in April 2022 characters yet another landmark for Mauritius as it strengthens its position as the International Financial Centre of choice for the region.
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Virtual assets and initial token offering services
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The Virtual Assets and Initial Token Offering Services Act 2021 (hereinafter referred to as the Act) was introduced on 07th February 2022 with an aim to promote Mauritius as an international financial centre of excellence and adapt with the digital revolution.
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Mauritius classified as the most peaceful jurisdiction in the African Continent |
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The 16th edition of the Global Peace Index (the “GPI”) has classified Mauritius as the most peaceful jurisdiction in the African Continent. The GPI which rates 163 countries globally, based on the level of prevailing peacefulness, has placed Mauritius on the 28th position.
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FSC Single Window : Making It Easier To Do Business Through Digitalization
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The Financial Services Commission (FSC) in collaboration with the Economic Development Board (EDB) and the Corporate and Business Registration Department (CBRD) has launched the FSC Single Window system on Thursday 21 July 2022.
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