Why we choose Mauritius as an Offshore Financial Centre (OFC)
The Financial Services Industry is highly regulated globally and under constant scrutiny.
For Carrick, the decision as to where we are based and therefore regulated was carefully considered and based on a number of different factors. After intensive due diligence on regulatory environments and appropriate investor protection, we chose the island nation of Mauritius.
Some of the factors considered were:
- Mauritius is highly regarded in the international investment sector. The Mauritius Financial Services Commission (FSC) was created in 2001 and operates as one of the most reliable and stringent regulatory bodies globally.
- Mauritius also remains a democratic model of reference.
- Mauritius is active in approximately 50 international organisations, including the International Monetary Fund, the World Bank and the World Trade Organisation, and has strong economic ties with its African neighbours, the European Union, India and with China.
- One of the fastest-growing economies in sub-Saharan Africa and consistently ranked by the World Bank as the easiest country in which to do business in the region, Mauritius ranks 19th out of 189 global economies in which to start a business in the World Bank’s ‘Doing Business 2014’.
How our business works
At Carrick, we understand that our clients are global and mobile. A single point of contact to look after your wealth, your pension and your investments as you move around the world is a top priority and needs to match the transient nature of your lifestyle.
Carrick is proud of the fact that we’re one of only two companies in the last 18 years to simultaneously be granted three business licenses by the FSC:
- A Global Business License C114013661 FS-4.1
- An Unrestricted Investment Adviser License C114013661 SEC-2.4
- An Insurance Brokerage License C114013661 INS-2.3
These licensing provisions ensure our clients are completely protected from a regulatory perspective for the advice we give internationally. This is of paramount importance.
Whilst we’ve chosen Mauritius for its robust regulation in terms of the advice we give, any pension transfer would be typically based in a similarly robust European jurisdiction such as Gibraltar, The Isle of Man or Malta. Any underlying investments could also be sited in these jurisdictions or additionally with any major investment bank, anywhere in the world.
The ultimate decision with regards to jurisdiction forms part of our comprehensive advice process.