Mauritius Launches Central Register of Trusts: Consequences for Trustees and the Question for Jersey

Mauritius Launches Central Register of Trusts: Consequences for Trustees and the Question for Jersey

On 30 September 2026, the Financial Services Commission of Mauritius (FSC) launched its Register of Trusts.

• The measure, introduced through amendments to Section 26A of the Financial Services Act 2007 and Section 38 of the Trusts Act 2001, requires Qualified Trustees and Management Companies to submit accurate, complete and up-to-date basic and beneficial-ownership information on every trust they administer.

• The Register is not public. Each Qualified Trustee can view and manage only its own trusts via the online platform at ors.fscmauritius.org. 

• It forms part of Mauritius’s implementation of FATF Recommendation 25, giving competent authorities centralised and timely access to data on legal arrangements.

• Information required includes the trust deed (and any amendments), settlor, protector or enforcer, beneficiaries or class of beneficiaries, other controlling persons, bank accounts and relevant service providers.

Deadlines and obligations

• Existing trusts must be fully populated by 15 January 2027.

• After that, any change to beneficial-ownership information must be updated forthwith and no later than five working days after the information is obtained or the change occurs.

• The FSC has warned that failure to meet the initial deadline may trigger supervisory follow-up and regulatory action.

• The accompanying User Guide states that wrongly filled information is treated as a breach and may lead to sanctions.

Legal consequences

• Section 26A(12) of the Financial Services Act provides that any person who fails to comply with the section commits an offence and, on conviction, is liable to a fine not exceeding 500,000 rupees and to imprisonment for a term not exceeding five years.

• Beyond criminal exposure, the FSC can impose administrative penalties, issue directions, refer matters to the Enforcement Committee, and ultimately suspend or terminate licences. Parallel duties under the Trusts Act and Mauritius’s AML framework to maintain accurate beneficial-ownership records remain in force.

• In operational terms, the Register reflects the quality of the records behind it. Inconsistencies between trust deeds, KYC files, and beneficial ownership assessments will surface in regulatory data.

• Without clear processes for identifying changes and updating systems within five working days, discrepancies can be locked into the Register.

Will Jersey follow suit?

• At present, Jersey does not maintain a central register of trusts.

• The Trusts (Jersey) Law 1984 does not require registration or filing of the trust instrument. Beneficial-ownership information is held by the trustee (typically a regulated trust company service provider) and must be made available to competent authorities on request.

• Where a trust owns or controls a Jersey legal person, relevant controlling parties appear on the Obliged Entity Beneficial Owner (OEBO) register, which is accessible to the JFSC, law enforcement and, since February 2025, Jersey-regulated obliged entities for customer due diligence purposes.

• A consultation on wider “legitimate interest” access closed in January 2026; no decision has yet been published.

• Jersey’s 2024 MONEYVAL evaluation rated its framework for legal arrangements highly, noting that competent authorities obtain accurate information directly from trustees and that the system is substantially effective.

• There is no public indication that the JFSC or the Government of Jersey intends to introduce a Mauritius-style central trust register requiring routine uploading of deeds and five-day updates for every trust.

• Whether Jersey will eventually move in that direction depends on future FATF or MONEYVAL expectations, political pressure, and the outcome of the legitimate-interest consultation.

For the moment, the two jurisdictions have chosen different models:

• Mauritius has opted for a central, non-public registry with strict filing deadlines and criminal sanctions;

• Jersey continues to rely on regulated trustees holding the information and making it available to authorities on demand.

Trustees and Management Companies in Mauritius now face a clear compliance timetable and meaningful sanctions. Jersey firms monitoring the development will note the contrast in approach, but should continue to ensure their beneficial-ownership records are accurate and readily available to the JFSC and other competent authorities.

Sources

• FSC Mauritius Communiqué, 30 September 2026: https://www.fscmauritius.org/media/tfxflw1r/communique-to-licensees.pdf

• Register of Trusts User Guide: https://www.fscmauritius.org/media/i4ei3ys4/annex-d-fsc-register-of-trust-user-guide-300926.pdf

Mauritius

• Trusts Act 2001 (consolidated version including 2026 amendments, FSC):

https://www.fscmauritius.org/media/uouhyxma/trusts-act.pdf

• Financial Services Act 2007 (consolidated version, FSC, updated as at 9 August 2025):

https://www.fscmauritius.org/media/btwb1rcr/financial-services-act.pdf

(Section 26A is contained in this version.)

• Official Laws of Mauritius portal (searchable, includes the Acts):

https://lawsofmauritius.govmu.org/

Jersey

• Trusts (Jersey) Law 1984 (official consolidated version, Jersey Law):

https://www.jerseylaw.je/laws/current/l_11_1984

PDF: https://www.jerseylaw.je/laws/current/PDFs/L_11_1984.pdf

• JFSC Beneficial Ownership and Controller Guidance:

https://www.jerseyfsc.org/industry/guidance-and-policy/beneficial-ownership-and-controller-guidance

• MONEYVAL 5th Round Mutual Evaluation Report – Jersey (2024):

o FATF page (with download): https://www.fatf-gafi.org/en/publications/Mutualevaluations/MER-Jersey-2024.html

o Government of Jersey summary page: https://www.gov.je/Industry/Finance/FinancialCrime/Pages/FATFAndMoneyVal.aspx

o JFSC page with link to the report: https://www.jerseyfsc.org/industry/international-co-operation/international-assessments/moneyval/2024-moneyval-evaluation

• Government of Jersey consultation on legitimate interest access to beneficial ownership information (opened 31 October 2025, closed 30 January 2026):

https://www.gov.je/Government/Consultations/pages/centralregisterlegitimateinterest.aspx

Consultation paper PDF: https://www.gov.je/SiteCollectionDocuments/Industry%20and%20finance/Consultation%20Document%20Beneficial%20Ownership%20Information%20Access.pdf