News from the week of the 18th of October: Mauritius back onto the FATF's whitelist

Expat news
Published on 2021-10-21 at 13:29 by team
Mauritius exits the FATF grey list. In other news, the government issued 750 premium visas to foreign nationals.

Exit from the gray list: Mauritius waiting to hear from the FATF

This week has been crucial for the island's financial sector. In fact, the Financial Action Group (FATF) has decided to take the Mauritian financial sector off its list of jurisdictions at risk for money laundering and financing of terrorism. For more than a year, the Mauritian authorities had been working to demonstrate their efforts in the fight against money laundering and the financing of terrorism. This will undeniably restore the credibility of the Mauritian financial sector.

Premium visa: 750 applications accepted

1,111. This is the number of Premium Visa applications made as of September 2021. Of these, 750 applications met all the criteria and were granted by the Mauritian authorities. The ‘Premium Visa' which aims to encourage foreign nationals to come for long stays in Mauritius. A holder can acquire a residential property under the Integrated Resort Scheme (IRS), Real Estate Scheme (RES), Property Development Scheme (PDS) or Smart City Scheme (SCS).

The key repo rate maintained at 1.85%

The Monetary Policy Committee has decided to keep the key repo rate at 1.85%. Announcement made by the Bank of Mauritius. The growth rate has been maintained at 5.5%, while inflation has been revised upwards and is estimated at 3.8%.