In the context of the release of the Paradise Papers, the Financial Services Commission (FSC) published a press communique on 28th November 2017. The FSC reiterated that Mauritius has always been a transparent and collaborating jurisdiction that adheres to the best practices and norms. These have led the country to gain international recognition as an international financial center of choice and substance for cross-border investments. It is also highlighted that Mauritius has gained recognition from a number of international benchmarking organisations, such as the Organisation for Economic Cooperation and Development (OECD).

The FSC underlines that at the last Global Forum on Transparency and Exchange of Information for Tax Purposes, the OECD classified Mauritius as a ‘Compliant’ jurisdiction, which testifies that Mauritius abides to information exchange practices, in line with the best international standards.

The FSC is closely following all articles published in the press and assures its full collaboration with its international counterparts and players in the sector. The institution further stated that it will take necessary actions against any licence holder, officer or management company involved in fraudulent practices which could damage the country’s reputation.