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ARTICLE · 13 JANUARY 2026

Maritime Due Diligence: Mauritius At Crossroads

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It is based on the above provision of the law that the FSC has acted to revoke the licenses of the shipping companies, as a measure to implement targeted financial sanctions in compliance with The United Nations (Financial Prohibitions, Arms Embargo and Travel Ban) Sanctions Act 2019 (UN Sanctions Act).

MauritiusFinance and Banking
Malcolm Moller
Malcolm Moller
Nivedita Hosanee
Nivedita Hosanee
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The year 2025 has witnessed a wave of revocations of Authorised Companies’ Licenses – more than 25 – by the Financial Services Commission (FSC) in Mauritius, pursuant to section 74(5) of the Financial Services Act.

The striking fact with these revocations is that all these Authorised companies were involved in the shipping business. The action taken by the Financial Services Commission has in its wake given rise to a situation where any shipping related business activity in the offshore sector is being unfortunately and wrongly viewed with suspicion and considered as high-risk business activity.

Section 74(5) of the Financial Services Act reads as follows:

“(5) Where the Commission is satisfied on reasonable grounds that the revocation of the Global Business Licence is necessary to protect the good repute of Mauritius as a centre for financial services, to prevent or mitigate damage to the integrity of financial services

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