Mauritius to green light offshore funds, advisory services in 60 days

Move is a relief for Indian offshore funds that have come under regulatory glare

Mauritius has given indicative timelines for clearing applications of offshore funds and advisory services, providing relief to Indian offshore funds that had come under the country’s regulatory glare and were waiting longer to get approvals for new funds.

Mauritius has stepped up scrutiny of offshore fund structures, as the country tries to shed its image as a quasi-tax haven and showcase its compliance with all major international tax norms.

The country’s financial services regulator Financial Services Commission (FSC) has said it would process all applications within two months, provided the applicants fulfil all legislative obligations that include meeting