Why is the Foundation established in Mauritius?
We believe that Mauritius is an ideal environment to host the SelfKey Ecosystem. Mauritius is a politically stable jurisdiction, highly ranked for democracy and for economic and political freedom. It is the largest international financial and business hub in the Indian Ocean region with a strong liberal economy, a reputable banking system, a wide offer of qualified professional services, and a pro-business and flexible regulatory framework that provides reliability and security.
Mauritius is variously referred to as “Ethereum Island” and is becoming an international hub for blockchain startups. The foundation has been granted the Mauritius Regulatory Sandbox License (RSL). The Sandbox License (RSL) launched in Oct 2016, provides companies and startups with the opportunity to test innovative products, services, business models and delivery mechanisms in the real market, with real consumers, but with regulatory supervision. This sandbox framework, makes Mauritius one of the most attractive jurisdictions for blockchain entities that are seeking to be regulated. The legal flexibility has also played an important role, as unlike other jurisdictions, a foundation can be set solely for a purpose and not for the benefit of persons and no minimum initial endowment of assets is required.