News

11/04/2019

STEP Mauritius held its 2019 International Conference entitled “Stepping up in a world of unprecedented change” on 04th and 05th April at Hilton Mauritius Resort.

The main mission of STEP is to assist families in estate and succession planning by promoting high professional standards, educating professionals, connecting advisors and families globally, informing public policy and acting in the public interest.

During the two days of the international Conference, panel of experts with diverse expertise have shared their knowledge on the recent transformation in the international trust arena as well as the global business sector in Mauritius and its far-reaching implications for HNWs and affluent family businesses.

Our Executive Director, Mr. Amal Autar has chaired a big debate on Base Erosion and Profit Shifting (“BEPS”) – the death knell for Tax Planning during the conference, which was strongly advocated as well as challenged by the panel.

Addressing as a Keynote Speaker at the Conference, the Chief Executive of the Financial Services Commission (FSC), the integrated regulator for global business sectors and non-banking financial services in Mauritius, announced the regulatory standards/requirements for the Single Family Office and Multiple Family Office which are to be finalized by end of this month. In 2016, the Financial Services Act 2007 (“FSA”) was amended to introduce the Overseas Family Office (Single) (“SFO”) Licence and Overseas Family Office (Multiple) (“MFO”) Licence.

MITCO shall provide you with more details once the regulatory standards/requirements for the SFO and MFO are finalised.