The Launch of the FSC Single Window System to enhance the Financial Services in Mauritius
On the 21st of July 2022, the Financial Services Commission (FSC) launched the Single Window System. The Single Window provides System provides access to three institutions, the Financial Services Commission (FSC), the Corporate and Business Registration Department (CBRD), and the Economic Development Board (EDB). It also contains information on investment matters and allows for the simplified and coordinated processing of investor requests. The Single Window System will help investors of the financial services sector to submit systemized information and documents with a single-entry point so as to fulfil all regulatory requirements.
The FSC Single Window System is in line with the Mauritian Government’s vision of establishing a customer-centric approach to serve financial institutions, corporates, High-Net-Worth Individuals and potential investors by providing all relevant information pertaining to licensing, occupational permits and business registration, amongst others. The Minister of Finance, Economic Planning and Development, Dr Renganaden Padayachy, pointed out that this is a one stop shop that will enable investors to carry out business in Mauritius more effectively.
Henceforth, potential investors will be able to book a meeting online via the Single Window section on the FSC website, indicating the business purpose, and relevant licences and permits being applied for. Thereafter, officers of the FSC Single Window system will confirm the meeting and contact the investor if any further information is required, he underlined.
The FSC Single Window aims to be a single point of contact to respond to requests from local and international stakeholders and will provide the following benefits :
- Time reduction for processing documents
- Avoid the hassle for booking multiple appointments
- Improve connectivity
- Bring about reduction in clearance time to set up a business in Mauritius.