ITL - Intercontinental Trust Limited
New York London Mauritius Hong Kong

Regulatory Sandbox Licence - ITL proud to be associated with 2nd issue of RSL by the BOI

 

The Regulatory Sandbox Licence (RSL) is an initiative proceeding from the Mauritius 2016/2017 National Budget.  The RSL regulation was promulgated under the Investment Promotion Act in October last year and the relevant guidelines were subsequently put in place.

 

 

The RSL is an innovative measure that offers the possibility for an investor to conduct a business activity for which there exists no legal framework, or no adequate provisions under existing legislation in Mauritius. The RSL allows for promising projects to be tested within set parameters, where such ventures were previously unable to start so long as a complete set of regulatory framework was not yet in place. This initiative, which opens the door for creativity to take wings and innovative projects to germinate, has been inspired from highly successful economies.

 

The RSL is issued by the Board of Investment (BOI) after consultation with the other relevant authorities and ministries and the terms and conditions attached to this particular licence are tailored to the proposed activity. Once the testing period is completed and upon demonstration of applicability, compliance and benefits of the project, the temporary framework may be used as basis for devising/ setting permanent regulations for these new industries.

 

As at date, the BOI has issued three RSL licences. ITL is proud to have successfully applied for and been issued, on behalf of ITOO Film Services Limited (ITOO), for an RSL pertaining to the introduction of the Completion Guarantee Bond in Mauritius. The Completion Guarantee Bond, although tried and tested in other countries, is a novel concept being introduced by ITOO in Mauritius with the aim of consolidating the foundation for a reliable ecosystem for the film industry. It is an arrangement whereby the Guarantor (ITOO) will ensure the completion and prompt delivery of the film or other audiovisual products in accordance with the script and schedule.

 

The other two RSL licences issued by the BOI include a licence issued to an online crowdlending platform and for the production of stem cells to be used in medical treatments.

 

As Mauritius aspires to become a high income economy, the RSL is a bold step taken to embrace innovation as a driving force for the country’s development.

 

The RSL is a unique opportunity for investors wishing to introduce groundbreaking business concepts in Mauritius, and ITL would be pleased to assist in these endeavours. For more information about the RSL, please liaise with your usual contact person at ITL or write to us on info@intercontinentaltrust.com.

image

ITL wins Corporate Finance Advisor of the Year 2016

ITL is pleased to announce that it has won the Corporate Finance Advisor Award 2016 at the 5th Annual Private Equity Africa Awards (PEA Awards) for the second year in a row. ITL wa...


Read more

image
image

News & Events

  • EU Blacklist
    06-12-2017

    A new EU list of non-cooperative jurisdictions for tax purposes (the “EU Blacklist”) was validated at the recent gathering of the Economic and Financial Affairs Council (ECOFIN) held on 5 December 2017.    In a bid to combat tax malpractices around the globe, EU State Members devised a screening process which includes an assessment of 92 jurisdictions based on tax transpar...

    Read More
  • Paradise Papers: Mauritius Prime Minister releases official statement
    10-11-2017

      The release of the Paradise Papers earlier this week took the whole media world by storm. The so-called “Paradise Papers” is the term coined by investigative journalists to refer to the leakage of seven decades' worth of information representing more than 1,400 GB of data, containing about 13.4 million documents. A major part of these information was hacked from the databas...

    Read More
  • State Visit of the Seychelles President to Mauritius
    09-11-2017

    The President of Seychelles, H.E. Danny Antoine Rollen Faure headed a high level delegation of 23 members on an official visit to Mauritius from 26th to 28th October 2017.   It is to be noted that the Presidential visit was preceded by the meeting of the 12th session of the Seychelles-Mauritius Commission on Bilateral Cooperation held on 23rd October 2017, during which a new roadmap of...

    Read More
All News and Events ››
image
image