Financial Services Commission (FSC)

Definition

The Financial Services Commission (FSC) is the Mauritian authority responsible for regulating and supervising non-bank financial services. It is notably responsible for issuing the licences required for the international company structures used in Mauritius, as well as for the entities authorised to administer them. Its role covers both the initial licensing of these structures and the ongoing monitoring of compliance with their regulatory obligations.

Framework in Mauritius

The FSC is directly involved in licensing the main company formation structures used in Mauritius for international activity, in particular the Global Business Company (GBC) and the Authorised Company. Both of these company forms must be administered by a management company, itself holding a licence issued by the FSC. The FSC thus oversees two levels: the companies themselves, and the professional service providers authorised to register them, maintain their registers, and provide ongoing administrative and regulatory follow-up. This architecture is designed to ensure that no Mauritian international structure can be created or administered outside a supervised professional framework.

In practice

Before entering into any contractual relationship, verify that the management company you plan to work with is indeed licensed by the FSC. Only an entity licensed by the FSC may lawfully act as registered agent for a GBC or an Authorised Company, or administer a trust, a foundation, or a fund structure under Mauritian law. FSC supervision covers, in particular, compliance with the substance requirements specific to each type of structure, as well as the compliance requirements applicable to the service providers themselves. The provider's membership in an established group and the actual nature of its activity in Mauritius are factors to be examined case by case, depending on your situation and objectives.

Related terms

The FSC is closely associated with the concepts of Global Business Company (GBC), Authorised Company (AC), and management company, the licensed corporate service provider that handles the day-to-day administration of these structures. It is also linked to wealth management instruments such as the trust and the Mauritian foundation, as well as to fund structures, insofar as their incorporation and ongoing administration likewise involve a service provider licensed by the FSC.

Related terms