• It has been pleasure to be associated with VA Global Business for over 5 years.  Efficient and cost effective service has been their hallmark and we wish them all the very best for a great success ahead.    
    Author : Vipul R Kothari - Director
    Global Business Services JLT.
  • We find VA Global Business Limited helpful in meeting our requirement. People are always co-operative and understandable to our needs. In offshore busines environment it is always advisable to choose professional service from people with high integrity and good professional conduct and there is no doubt that VA Global Business Limited meets the requirements.  
    Author : Director
    Gagan Corporation Ltd
  • We have been a client of VA Global Business Limited for the incorporation and secretarial services of a Mauritius Offshore company since May 2006 and have been fully satisfied by the quality of their services. Incorporation was pretty straightforward with clear instructions for setting up the company as well as an off-shore bank account. They have proved to be trustworthy and responded swiftly to ...
    Author : Director
    Business Development Services Ltd
  • As a growing advisory firm in the region our company has been well served by VA Global Business since 2009. They have consistently provided sound advice in setting up business structures tailored to the needs of our company and assisting various ongoing administrative matters. Some of the activities that we have relied on VA Global to carry out for us include company registration, administration a...
    Author : Managing Director
    slEconomics Africa
  • VA Global was able to provide a step by step clear process for setting up the relevant structures in Mauritius, saving us days of research. All correspondence via e-mail and phone was professional with timely attention to all queries. Doing business across borders is only a success when there is a trusted partner on the other side
    Author : Director
    Twiga Limited
  • VA Global Ltd has been a great help to our business. They have consistently replied to any questions and queries we have had in a timely manner and have enabled our business to transition smoothly through a recent restructuring. We look forward to continuing to work with them in the future, and would recommend them to anyone who needs the administrative services that they are able to provide.
    Author : Director
    Amistad Ltd
  • We are in our fifth year of working with VA Global. Their standards of service are very high. We find them efficient, reliable and very accessible. VA Global offers you a personalised service par excellence!
    Author : Director
    Spectramax Ltd
  • Just a quick note to say thank you very much for an incredible working partnership. I must say I came along with the usual reservation that you have about whether the whole process of registering an offshore company (legal procedures, bank account opening...) will be smooth and rapid but you positively surprised me! As a private consultant, finding ways to save money for my clients is a priority a...
    Author : Lily Johns
    Private Consultant
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Legal Framework

The Regulator – Financial Services Commission

The Financial Services Commission (FSC) is the integrated regulator in Mauritius for the financial services sector other than banking and global business. Over the years, the FSC has been extremely prudent by adopting best international practices and introducing necessary safeguards in order to prevent misuse of Mauritius as an offshore jurisdiction.

The main statutory objectives of the FSC are:

  • to ensure orderly administration of the financial services and global business activities;
  • to ensure sound conduct of business in the financial services sector and the global business sector;
  • to elaborate policies to ensure fairness, efficiency and transparency of financial and capital markets; and
  • to respond to new challenges and to take full advantage of new opportunities for achieving economic sustainability and job creation and study new avenues for development in the financial services sector.

Applications for global business licenses of Category 1 and category 2 are all processed by the FSC and it is only once the FSC has approved an application for a particular License that the company registration is finalized and the relevant Global Business License is then issued. Post licensing, the FSC does monitor the conduct of business activities of its licensees and during focus is laid on aspects like market conduct, Anti-Money Laundering and Combating the Financing of Terrorism requirements, corporate governance principles and international norms and standards.

Our Enabling Law

There are many legal provisions governing the setting-up and operation of a global business company in Mauritius:

  • Companies Act 2001 – Company law which applies for all companies in Mauritius, including those operating with a global business license... Read More
  • Financial Services Act 2007 - Framework for licensing and supervision of all financial services other than banking, including the global business sector... Read More
  • Securities Act 2005 - Framework regulating the securities market so as to keep abreast of international best practice and standards... Read More
  • Trust Act 2001 - Framework regulating and allowing for the creation of different types of trusts, which may be set up by residents and non-residents... Read More

AML/CFT Initiatives

The Financial Services Commission fully supports international initiatives to prevent money laundering and to combat terrorist financing and as a responsible management company, VA Global has the duty and responsibility to work with appropriate care and diligence to ensure that neither it nor any services offered by it are used by anyone who is a criminal or whose intentions are to launder the proceeds of crime or to engage in terrorist financing.

To fulfill this objective, VA Global internal AML/CFT policies, procedures and controls have been based on the legal framework in Mauritius and also on international AML/CFT initiatives like the Financial Action Task Force to mention just one. Some of the core principles governing VA Global internal AML/CFT policies and procedures are:

  • To have in place documented internal systems to prevent money laundering, report suspicious transactions and appoint a Money Laundering Reporting Officer;
  • To apply appropriate Customer Due Diligence measures including identifying and verifying the identity of the client when establishing a business relationship;
  • To implement effective on-going Customer Due Diligence measures and risk profiling procedures;
  • To provide members of staff with on-going AML/CFT training;
  • To implement and maintain effective record keeping systems.

In support to above, VA Global is highly conscious of the fact that knowing its customers is essential to the prevention of money laundering and combating the financing of terrorism. Effective customer due diligence being a key element of VA Global internal AML/CFT system, we are constantly reviewing our CDD measures to ensure that they are kept in line with best practices. VA Global complies with all due diligence requirements as per national and international norms prior to accepting a client.

While the above is a prerequisite for the protection of our clients’ interests and the safeguarding of the reputation of Mauritius as a reliable centre for financial services, we are fully aware that additional due diligence measures do to some extent represent additional burden for you when deciding to set-up a global business company in Mauritius. Please do not allow these additional measures to impede on your decision in any way since we do make it our duty to ensure that we do not make things more difficult than is absolutely necessary. The Regulations are here to stay and we hope that by working with us we can all at least try to stay ahead of the game by taking a sensible lead and attempting to have reasonable procedures adopted by all parties.

We thank you very much for your kind understanding and collaboration in above and should you have any idea on how we can improve in the future, please feel free to let us know. We always take on board our clients’ comments since at the end of the day we are in business only because of you.

Money Laundering Reporting Officer - VA Global Business Limited

Due Diligence

VA Global Business has an obligation under the Prevention of Money Laundering & Terrorist Financing Regulations to ensure that we "Know Our Client" in order to protect ourselves in the event that any of our clients should use a global business structure for the purposes of money laundering, drug dealing, terrorist financing or any other illegal activity. When establishing a business relationship with a client and also on an ongoing basis, we are required to apply appropriate Customer Due Diligence measures on the business relationship, including identifying and verifying the identity of the client and all related parties.

Due Diligence requirements for a natural person:

Relevant identification data on a natural person, including:

 
  • Name (including any former names, any other names used and other aliases)
  • Current residential address7
  • Date and place of birth
  • Nationality
  • Any occupation, public position held and where appropriate the name of the Employer
 

Proof of identitty:

Types of identity documentation which can be relied upon:

 
  • National Identity cards
  • Current valid passports
  • Current valid driving licences
 

Any copy document provided must be certified by a lawyer, banker or other regulated person. The certifier should legibly sign the copy document and clearly indicate his capacity or position on it and, in the case of a passport, must state that the photograph bears a true likeness of the Owner. Please note that all copy documents provided to us should be clearly legible, particularly those documents containing photographs and signatures.

Proof of Address:

The following documentations can be relied upon for address verification:

 
  • A recent utility bill issued;
  • A recent bank or credit card statement dated; or
  • A recent bank reference.
 

It is required that the proof of address should be dated less than 3 months and any copy document provided must be certified by a lawyer, banker or other regulated person and must be legible.

Reference

A reference is needed as an additional comfort on the client status. A bank reference is normally required from a bank with which the client has been banking for at least two years and in the reference, the bank should clearly mention the client name, time period over which the client has been using the services of the bank and mention should be made on how the client has maintained his bank account. Besides a bank reference, though not a prerequisite, it's always good to have reference from a respected professional who has known the client and who can testify the good character of the client.

Confidentiality

All documents provided to VA Global are kept highly confidential and neither the statutory records of a global business company nor details on the company's Directors, Shareholders, Beneficial Owners are publicly accessible. The only circumstances under which we are required to divulge such information are in response to a properly authorised criminal investigation which has first been approved by the financial regulator of the jurisdiction concerned.

Please contact us for more information.

Terms & Conditions

VA Global Business Ltd – Terms and Conditions ...Read More