Mauritius Finance believes that the 2026/2027 Budget includes both positive measures for the financial services sector, certain provisions calling for vigilance, as well as some particularly worrying measures with regard to the competitiveness of the jurisdiction.
As the mutual evaluation of the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG) approaches, scheduled for 2027, Mauritius Finance considers that the measures announced to consolidate the national system to combat money laundering and the financing of terrorism (AML/CFT) will contribute to maintaining the credibility and reputation of the Mauritian financial center.
In a press release issued this Saturday, Mauritius Finance also notes several measures intended to support the transformation of the sector, including the introduction of a framework for stablecoins and asset tokenization, the establishment of an Open Banking Framework and the introduction of a Private Wealth Management license, among others. The announcement of the revision of the Banking Act and the Bank of Mauritius Act also requires an in-depth analysis in order to study its effects.
The organization also notes with satisfaction the revision of the liability regime for managers in tax matters, which was expected by operators. This measure will help to strengthen legal certainty and promote greater economic substance.
“However, in a context of increased competition between international financial centers, it is important to ensure that the accumulation of costs does not affect the competitiveness of the jurisdiction. The doubling of fees for Tax Residence Certificates for Global Business Companies is worrying, as is the increase in operating costs for Management Companies following the transition from zero-rate status to VAT exempted from their services to Global Business Companies, trusts and foundations,” underlines Mauritius Finance.
Mauritius Finance also considers that it remains important to continue reflection on the measures necessary to preserve the attractiveness and competitiveness of the jurisdiction, in particular those relating to the revision of the regional headquarters regime, the modernization of the Trusts Act, the strengthening of the attraction of international talents or even the introduction of specific support measures for Pillar II of BEPS.
Mauritius Finance will bring together its members in the coming days to examine in more detail the implications of the budgetary measures for operators and investors of the Mauritius International Financial Center.
About Mauritius Finance
Mauritius Finance represents all players in the financial services sector in Mauritius and also works to build capacity within the industry. Among its 200 members, Mauritius Finance includes management companies, banks, accounting firms, law firms, stock exchanges
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