September is the right time for companies in Mauritius to review their corporate and regulatory position before the year comes to an end.

Several developments in 2026 deserve particular attention, including changes to FSC licensing fees, evolving AML/CFT requirements, beneficial ownership obligations and measures introduced under the 2026-2027 Budget.

The priority is not simply to complete a list of administrative tasks. It is to make sure your company enters 2027 with a sound structure, up-to-date records and arrangements that remain appropriate for its activities.

This checklist is particularly relevant to regulated and internationally active businesses, including Global Business Companies, Authorised Companies and structures subject to enhanced governance, compliance or banking requirements.

FSC licences and fees: review your position before year-end

If your company is subject to annual FSC licensing fees, confirm the amount payable and make sure the 2026/2027 fees are settled by 30 September 2026, following the exceptional extension granted by the FSC.

Key checks:

• Make sure the activities carried out by the company remain consistent with its licence.
• Settle the applicable 2026/2027 fees and retain the payment records.
• Check that the administrative information held by the regulator remains accurate.

Factor the revised FSC fees into your 2027 planning

The 2026 fee revision has significantly increased the fixed annual fee for Authorised Companies, from USD 350 to USD 1,400. Other categories of entities are also affected.

This is a good time to review the cost and purpose of each structure. Where an entity is no longer commercially justified, consider whether it should be maintained, reorganised, consolidated or closed.

AML/CFT and beneficial ownership: bring your records up to date

Regulatory expectations around transparency and anti-money laundering continue to evolve. Companies should therefore review their AML/CFT arrangements and make sure their corporate records accurately reflect their current ownership and activities.

Review your beneficial ownership records

For companies subject to the new beneficial ownership requirements, the relevant deadline was 30 June 2026.

Check that your beneficial ownership registers are current, that the required declarations have been obtained and that changes in ownership or control are properly documented.

Review your AML/CFT/CPF procedures

Identify the obligations that apply to your business as a Reporting Person. Review your internal AML/CFT/CPF policies, screening processes and risk documentation and update them where necessary.

Schedule your CDD reviews

Customer due diligence should be reviewed according to the risk profile of each relationship. Make sure KYC and enhanced due diligence reviews are properly scheduled and documented, with the MLRO overseeing the relevant AML/CFT framework.

Corporate governance: make sure your records can stand up to scrutiny

Good governance is increasingly important when companies deal with regulators, banks, auditors and international business partners.

Keep your corporate records in order

Make sure board meetings are held in line with the company’s constitutional documents and the Companies Act. Board minutes should be properly prepared, signed and retained.

Directors’ and shareholders’ registers should also be kept current, particularly where the company may need to provide information during an audit, regulatory review or banking process.

Review appointments and signing authorities

Check that the Company Secretary remains properly appointed and that all relevant corporate and banking authorities are current.

Where applicable to a GBC, verify that the required Management Company signatory arrangements are in place. Banking mandates should also be reviewed whenever directors, authorised signatories or account arrangements change.

Start planning the 2027 corporate calendar

Do not wait until the next deadline is approaching. Build the 2027 calendar around key corporate events, including board meetings, approval of accounts, auditor appointments, capital transactions and relevant officer or MLRO appointments.

Tax and the 2026-2027 Budget: check that your structure still makes sense

Budget measures can affect a company’s tax position, reporting requirements and operating costs.

Review the provisions relevant to your business and consider whether any changes require action before the end of the year.

It is equally important to check that the company’s actual activities remain consistent with its legal structure and tax position. This is particularly relevant when considering the distinction between a Domestic Company, GBC and Authorised Company.

Occupation Permits and immigration: review your current arrangements

Companies employing foreign nationals should also review the status of their work and residence arrangements.

Check existing permits

Make sure each permit holder continues to meet the applicable requirements. The relevant Occupation Permit category should remain appropriate for the individual’s role, the company’s activities and the applicable immigration status.

Plan renewals in advance

Review upcoming expiry dates and allow sufficient time for renewals or changes of status. Early planning can help avoid unnecessary disruption to both the employee and the business.

Banking: make sure your corporate file is ready for review

Banks are placing increasing emphasis on AML/CFT controls and the quality of corporate information provided by their clients.

Review your existing banking arrangements

Check that your bank has accurate and up-to-date ownership information. Look for missing supporting documents, outdated corporate records or inconsistencies between the company’s declared activities and its financial transactions.

Keep a banking-ready file

Maintain a central file containing current beneficial ownership information, evidence of business activities and relevant AML documentation.

Having these documents readily available can make periodic bank reviews easier and help support applications for additional accounts or banking services.

Get your company ready for 2027 with C&S Secretarial Services

Preparing for 2027 is about more than meeting individual deadlines. It is an opportunity to make sure your company’s structure, governance and administrative records remain fit for purpose.

C&S Secretarial Services supports Domestic Companies, Global Business Companies and other structures established in Mauritius with their ongoing corporate and administrative requirements.

Our services include:

• Compliance reviews covering FSC fees, beneficial ownership, AML/CFT/CPF, governance, permits and banking documentation;
• Updating beneficial ownership registers and obtaining outstanding declarations;
• Reviewing AML/CFT/CPF policies and due diligence procedures;
• Organising board meetings, maintaining corporate records and preparing key resolutions;
• Assisting with permit applications and banking documentation.

If you want to review your company’s position before 2027 or put a practical compliance plan in place, contact C&S Secretarial Services to discuss your requirements.

Sources of this article:

• Financial Services Commission (FSC) Mauritius
• Corporate and Business Registration Department (CBRD)
• Mauritius FSC – Circulars & Regulatory Updates
• Mauritius regulatory update AML/CFT Act 2026 – Apex Group
• FSC Mauritius Fee Revision 2026 – Blue Azurite
• [Blog] National Budget 2026 – 2027: Our Opinion | Le Defi Media Group

L’article 2027 Compliance Checklist for Companies in Mauritius est apparu en premier sur C&S Secretarial Services.

In a communiqué published on 10 July 2026, the Financial Services Commission (FSC) made this direction particularly clear. Following the recent review of licensing fees in the Global Business sector, the regulator described a shift away from competing primarily on cost and towards a higher-value financial services model.

The change is about more than licensing fees. It signals how Mauritius intends to strengthen its position as an international financial centre, with greater emphasis on supervision, compliance, governance and the quality of its business environment.

Why Is the FSC Changing Its Approach in 2026?

The FSC explains that its processing fees had not been reviewed since 2008, while annual licence fees had remained unchanged since 2019.

Since then, international regulatory expectations have become more demanding, while the cost of supervision has increased. The 2026 reforms are therefore intended to bring the regulator’s resources more closely in line with its responsibilities.

The changes do not mean that every licence has become more expensive. The FSC has also reduced certain fees, including those applying to VCC funds, asset management and some investment dealer representative licences.

The reform should therefore be viewed as a broader adjustment to the regulatory framework rather than simply a general increase in the cost of doing business.

Authorised Companies Are Particularly Affected

Authorised Companies provide a clear example of this new approach.

The FSC links the revised fees to the international and cross-border nature of these structures, as well as their inherent risk profile. The Commission considers that these characteristics call for risk-based supervision and greater regulatory resources.

Under the current FSC fee schedule, an Authorised Company is subject to a fixed annual fee of USD 1,400, compared with USD 2,600 for a Global Business Company. The processing fee for both categories is USD 600.

For businesses already established in Mauritius, this is therefore about more than an increase in annual costs. It is also an opportunity to review whether the structure currently in place remains appropriate for the company’s actual activities and objectives.

Is Mauritius Still Competitive?

Yes, but the FSC is clearly seeking to change the way competitiveness is measured.

In its July 2026 communiqué, the regulator rejects the idea of competing between financial centres primarily on the basis of the lowest possible costs. Instead, it highlights factors such as governance, the rule of law, regulatory compliance and Mauritius’ international reputation. It also maintains that Mauritius remains cost-effective and competitive compared with other international financial centres.

For international businesses, the annual cost of maintaining a corporate structure should therefore not be considered in isolation.

Choosing between a Domestic Company, a Global Business Company or an Authorised Company requires a broader assessment. The nature of the business, its international activities, applicable regulatory requirements, banking needs and governance arrangements all need to be considered.

What Does This Mean for Businesses Setting Up in Mauritius?

This shift makes choosing the right structure even more important from the outset.

A business that selects a structure simply because it appears to be the least expensive may later find that it does not fit its activities, banking requirements or compliance obligations.

By contrast, a structure that is appropriate for the business can make ongoing administrative and regulatory requirements more manageable.

This is particularly relevant to international investors and businesses planning to operate across borders from Mauritius. Setting up a company is only the starting point. Corporate governance, administration, banking and ongoing compliance all need to be considered as part of the longer-term structure.

Stronger Corporate Administration Matters

The FSC’s new positioning also highlights the importance of maintaining well-managed corporate structures.

Keeping statutory registers up to date, organising board meetings, preparing and retaining minutes, maintaining a properly appointed Company Secretary, updating corporate information and liaising with the relevant authorities are all part of good corporate administration.

For an international business, these are not merely administrative formalities. They contribute to the credibility, transparency and sound administration of a Mauritius-based corporate structure.

How Can C&S Support Your Business in Mauritius?

C&S Secretarial Services supports entrepreneurs and investors with the establishment and ongoing administration of companies in Mauritius.

Whether you are setting up a Domestic Company, Global Business Company or Authorised Company, C&S can assist with company incorporation and ongoing corporate administration, including Company Secretary services, registered office arrangements, corporate governance, board meetings and regulatory formalities.

The firm also provides support with corporate bank account opening, as well as accounting and tax services.

As Mauritius continues to position itself as a high-value international financial centre, choosing and properly managing the right corporate structure becomes an increasingly important business consideration.

The right structure is not necessarily the cheapest one. It is the one that genuinely fits your business, your requirements and your objectives in Mauritius.

Contact C&S Secretarial Services to discuss your requirements and find the right approach for your business.

Sources

• Financial Services Commission (FSC) Mauritius
• The Financial Services Commission Reaffirms Commitment to Competitiveness Amid Strategic Licensing Fee Realignment
• FSC Codified List — consolidated version as at 1 July 2026

L’article Mauritius Is Moving Towards a High-Value Model: What It Means for Businesses est apparu en premier sur C&S Secretarial Services.

Moving forward, every GBC bank account must include at least one officer from its licensed Management Company (MC) as an authorised signatory. This individual must be vetted and approved by the FSC under Section 24 of the Financial Services Act (FSA).

The End of Unilateral External Control

Historically, GBC bank mandates allowed complete operational independence from local administrators. Accounts could be operated exclusively by beneficial owners, nominee directors, or third-party signatories operating outside the Management Company structure. While Management Companies handled legal administration, they were frequently excluded from banking execution.

That structural disconnect has now been closed.

Key Mandate Requirements

Under the new Paragraph 9.2 guidelines, compliant banking arrangements require specific local oversight:

• Vetted MC Officer: The designated signatory must hold individual FSC approval under Section 24 of the FSA.
• Resident Director Eligibility: A resident director appointed under Section 71(3)(b)(i) of the FSA, holding FSC approval, satisfies this requirement.
• Universal Application: The mandate applies to all bank accounts held by a GBC, whether maintained in Mauritius or with international institutions.

Transitional Timeline and Deadlines

The enforcement schedule requires prompt operational adjustment from existing corporate structures:

• 19 June 2026: The official effective date. All GBCs incorporated on or after this date must establish bank accounts with an approved MC officer from inception.
• 19 September 2026: The deadline for existing GBCs. Licensed entities have a three-month transitional window to update current bank mandates.

Failure to align banking arrangements by 19 September 2026 leaves entities non-compliant, exposing licensees to direct supervisory intervention and administrative penalties from the FSC.

Operational Impact on Owners and Management Companies

While procedural in form, the regulatory shift alters daily administration across the jurisdiction.

1. Beneficial Owners

Ultimate beneficial owners retain operational access and transaction-initiating authority. However, unilateral control over corporate accounts has ceased. Introducing a regulated local signatory adds an institutional layer of oversight to corporate execution.

2. Management Companies

For Management Companies, co-signatory status increases legal exposure and administrative burden. Because designated officers carry formal accountability for account activity, MCs must enforce stricter internal review protocols regarding incoming and outgoing flows.

Four-Step Compliance Roadmap

To avoid transaction friction or banking disruptions ahead of the September deadline, corporate boards must execute a structured update:

1. Audit Account Portfolios: Map every bank account across group GBCs to identify mandates lacking an approved MC signatory.
2. Engage Management Companies: Formalise the appointment of an FSC-approved officer to be added to affected accounts.
3. Factor in Banking Lead Times: Mandate updates require board resolutions and refreshed KYC documentation. Financial institutions typically require two to six weeks to process these revisions.
4. Adjust Pipeline Structures: Ensure incoming GBC incorporations incorporate compliant banking signatories from the outset.

Reinforcing Mauritius as a Substance-First Hub

This regulatory tightening aligns with broader jurisdictional efforts to position Mauritius as a substance-first financial centre.

By ensuring no GBC operates bank accounts without direct involvement from a locally approved professional, the FSC removes the risk of shell entities detached from their host jurisdiction. The reform safeguards the international credibility of Mauritius structures while preserving their core advantages: a 15% corporate tax rate with foreign tax credits, an extensive network of 46 double tax treaties, and full alignment with EU and OECD standards.

Managing Your Bank Mandate Transition

Updating corporate banking arrangements requires precise coordination between directors, Management Companies, and financial institutions ahead of the 19 September 2026 deadline.

C&S Secretarial Services conducts complete structural audits, drafts necessary board resolutions, and liaises directly with banks to regularise signatory mandates.

Ensure your corporate structures remain fully compliant. Contact C&S Secretarial Services to audit your banking arrangements and execute the required regulatory updates.

FAQ – FSC Mandates Management Company Bank Signatories

Sources of this article : 

• Mauritius FSC Introduces New Authorised Bank Signatory Regime for GBCs — Effective 19 June 2026

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