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The SelfKey Foundation obtains a Regulatory Sandbox License in Mauritius

 

Selfkey, a blockchain-based digital identity firm which allows exchange of information, transactions, and crypto currency portfolios to have their database of verified documents and to keep sensitive information secure, has been granted a Regulatory Sandbox Licence by the Board of Investment (now under the Economic Development) in Mauritius.

 

The Founder of SelfKey, Edmund Lowell, commenting on the company’s obtention of the RSL, said that they had been seeking to set up in a jurisdiction where they could operate under a regulatory framework that would allow their project to develop without restrictions and in line with their vision. They eventually settled for Mauritius as they found it is one of the most attractive jurisdictions for blockchain startups seeking to be regulated.

 

For recall, the Regulatory Sandbox Licence (RSL) was promulgated under the Investment Promotion Act in October 2016 and 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 companies to set up without restriction till the time when a legislation is put in place.

 

In 2017, ITL successfully applied for a RSL on behalf of ITOO Film Services Limited,  a company specialized in the provision of Completion Guarantee Bond for the film industry.  For more information about the RSL and on how we can assist, please liaise with your usual contact person at ITL or write to us on info@intercontinentaltrust.com.

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