This One Stop Shop is a trilateral collaboration of the Financial Services Commission, the Economic Development Board and the Corporate and Business Registration Department. The FSC Single Window aims at facilitating business through digitisation for the benefit of both Mauritians and foreigners. This step follows the FSC One Platform launched in 2021 to facilitate business in financial services.
A Click away!
This facilitation platform has been developed to reduce the inconvenience of multiple appointments, facilitate the submission of documents by investors, improve connectivity, interaction and exchange on their investment needs, reduce processing time and ultimately reduce turnaround time in the procedures for setting up a business.
This one-stop-shop FSC will establish a customer-centric approach to serve financial institutions, businesses, high-net-worth individuals and potential investors, providing all relevant information related to licenses, professional permits and business registration, among others. It will be the transformation of the financial services landscape – accessing regulatory services will be just a click away!
According to Hemraj Ramnial, Chairman of the EDB “This system will be a dedicated portal and a means to help investors quickly submit relevant documents and permit applications. This system is an integral part of the recommendations of the Financial Services Sector Action Plan, and its primary objective is to improve the ease of doing business in Mauritius. In order to make this system operational, the EDB will provide all the necessary support as indicated in the tripartite Memorandum of Understanding with the FSC and the CBRD”.
The Mauritian Economy more attractive
The guest of honour, Dr Renganaden Padayachy, Minister of Finance pointed out that “Clarity, certainty and consistency are the key words of our business facilitation policy. Thanks to the strategy promoted by this government, Mauritius is currently ranked 13th in the world in the latest World Bank Ease of Doing Business Index, 20th in the world in the Democracy Index and classified as a full democracy, as well as 23rd in the world in the Global Peace Index. Mauritius is also the only country in Africa to be recognised as Investment Grade, along with Botswana… This one-stop shop is a big step towards providing the right environment for individuals and companies to access the financial markets,” he said, revealing that he is “convinced that the one-stop shop will do credit to the efficiency of our institutions and its staff and will make the Mauritian economy even more attractive to foreign investors”.
Other guests of honour and speakers included Mahen Kumar Seeruttun, Minister of Financial Services and Good Governance, Ken Poonoosamy, CEO of EDB, Dhanesswurnath Thakoor, CEO of FSC. Mardayah Kona Yerukunondu, Chairperson of the FSC, who announced that the FSC has been appointed as the “Representative of the Africa/Middle East Regional Committee of the International Organisation of Securities Commissions-IOSCO”.
The FSC Single Window is available online on the digital platforms of the three entities combined.
