Mauritius’ BoI to launch one-stop shop to streamline setting up of new firms
The One-Stop Shop is an initiative of the Board of Investment (BoI) to provide investors with comprehensive information and professional support to conduct business in compliance with all regulations in force, and will be available in Mauritius as from 1 July 2015. (Image:investmauritius.com)
The Board of Investment will launch the One-Stop Shop (BOI-OSS) as from 1st July 2015 with the objective of facilitating the setting up of companies having an expected annual turnover in excess of Rs 20 million.
This initiative is in line with the policy outlined by the Minister of Finance and Economic Development, who, in his 2015-16 Budget Speech, highlighted the importance of creating a smooth and seamless process to get new businesses up and running.
The BOI-OSS, acting as coordinator, will provide investors with comprehensive information and professional support to ensure the timely issuance of all permits and licenses required for the conduct of their business in compliance with all regulations in force. This will ensure reduction in administrative hassles that come in the way of entrepreneurs as they create their company and launch their activities thereafter.
Accordingly, the BOI-OSS will receive and handle, for prompt processing, all applications for registration, permit, licence, authorisation and clearances required for setting-up of an enterprise.
Further roles include the expeditious approval of applications by liaising and following up with the relevant public sector agency/authority, collection of all fees or charges payable, and remittance of the same to the respective public sector agency.
Finally, the BOI-OSS will also notify companies about the renewal of their permit or licence, within 10 days of the expiry of the same.
It is expected that such initiatives will encourage businesses to set up in Mauritius and will make the island economy an easier place for doing business, thus attracting more foreign capital towards the economy.