By Shruti Menon Seeboo
Jeveena M. Nepaulsing, Senior Executive – Corporate & Fund Administration at ONS FinServ Ltd, sits at the nexus of regulatory compliance and operational excellence. Her role is central to maintaining the integrity of international investment structures leveraging Mauritius as a global gateway. In this deep-dive feature, Ms. Nepaulsing discusses the crucial transformation of the jurisdiction, the impact of stringent global standards on administration, and ONS FinServ’s strategy for defining and delivering excellence in a rapidly evolving financial world.
From Tax Haven to Trusted Hub: Solidifying Mauritius’s Global Financial Reputation
For many years, Mauritius dedicated itself to rigorous reform aimed at reinforcing its standing as a reputable International Financial Centre (IFC). These structural changes were vital not only for the jurisdiction’s compliance profile but also for attracting high-calibre global clients seeking stability and transparency. Ms. Nepaulsing pinpoints the exact moment these efforts achieved critical mass.
“Over the past few years, Mauritius has made remarkable progress in enhancing its global reputation by moving decisively from a perceived ‘tax haven’ to a respected, transparent, and fully compliant International Financial Centre,” she observes. “The most impactful change has undoubtedly been the country’s successful implementation of the Financial Action Task Force recommendations, culminating in its removal from the FATF grey list in 2022. This milestone was supported by stronger AML/CFT/CPF legislation and a highly efficient regulatory ecosystem under the purview of the Financial Services Commission (‘FSC’). This change significantly enhanced Mauritius’s global financial reputation, positioning it as a trusted and credible jurisdiction for cross-border investment.”
This elevated status is key to the IFC’s role as the “Gateway to Africa,” a position ONS FinServ actively leverages. The firm’s competitive edge relies on a unique combination of regulatory efficiency and structural agility, particularly when facilitating complex, multi-jurisdictional investments into the African continent and beyond.
Ms. Nepaulsing outlines how ONS FinServ positions itself to maximise this advantage: “ONS FinServ’s greatest advantage lies in leveraging Mauritius’ unique mix of regulatory efficiency, structural flexibility, and a strong professional network across Mauritius, Singapore, and the Middle East to facilitate cross-border investments into Africa. Utilising innovative structures such as the Variable Capital Company (VCC), ONS FinServ enables rapid, cost-effective, and compliant fund setups. Supported by Mauritius’ robust financial ecosystem, extensive banking partnerships, and wide tax treaty network, we deliver seamless cross-border execution and optimised investment vehicles. Our multi-jurisdictional expertise allows investors to efficiently access emerging opportunities across Africa, Asia, and the Middle East through agile and strategically designed structures.”
The New Operational Paradigm: Compliance, Technology, and Risk Mitigation
The global regulatory shift towards enhanced economic substance and transparency has fundamentally redefined the day-to-day role of a corporate and funds administrator. The era of passive compliance is over; it has been replaced by a necessity for active, technology-driven governance. For ONS FinServ, this transformation is deeply rooted in the firm’s operational culture.
“The move toward more stringent global standards especially around economic substance, AML/CFT/CPF, and beneficial ownership transparency has fundamentally transformed the way corporate and fund administrators operate. At ONS FinServ, compliance is rooted in the firm’s culture,” Ms. Nepaulsing states. Crucially, this high-touch compliance is not achieved at the expense of client experience. “With the use of AI-driven technology, we provide seamless customer experiences while ensuring we meet regulatory expectations. ONS FinServ remains committed to protecting client interests while safeguarding the financial integrity and reputation of the jurisdictions in which we operate. This technological and cultural evolution defines our daily operations and positions us as a trusted, forward-looking service provider.”
Beyond regulatory compliance, the operational landscape is dominated by the need to protect sensitive client data in a digital age. Managing this risk is paramount for maintaining client trust and business continuity. Ms. Nepaulsing identifies this as the firm’s most critical ongoing management focus.
“The most significant operational risk ONS FinServ currently manages is data integrity and cybersecurity,” she confirms. “As digitalisation and cross-border data exchanges expand, safeguarding client information remains paramount. We mitigate this risk through a robust internal governance framework, regular IT security and penetration audits, and the use of secure, encrypted cloud-based platforms for document and workflow management. Our internal Risk Management Committee proactively identifies and addresses potential vulnerabilities, ensuring resilience, business continuity, and full compliance with data protection regulations. Through this technology-driven and governance-led approach, ONS FinServ maintains the highest standards of trust and operational integrity.”
Defining Excellence and Investing in the Future of Service
Looking towards the future, the sector must navigate legislative changes that will further digitise and standardise the IFC. Ms. Nepaulsing has her sights set on the regulatory and technological shifts anticipated by 2026, viewing them primarily as opportunities for advanced service provision.
“Looking ahead to 2026, the financial services sector is poised for significant digital transformation and deeper ESG integration,” she notes. “The 2025–2026 national budget outlines a modernisation agenda for the Mauritius International Financial Centre (MIFC), emphasizing transparency, compliance, and investor confidence. Key developments include the rollout of an AI-powered unified e-licensing platform to streamline licensing and reporting, recognition of digital financial instruments, strengthened cybersecurity measures, and legal frameworks supporting wealth management and bullion banking. While these reforms will require a transition period, they offer fund administrators opportunities to innovate and align with global governance and sustainability standards. Mauritius, already a competitive and transparent hub, stands at the threshold of a new milestone in financial sector advancement.”
In such a competitive environment, ONS FinServ must distinguish itself beyond merely adhering to the law. Ms. Nepaulsing defines what “excellence in administration” truly means in practice.
“At ONS FinServ Ltd, we define excellence in administration as the ability to deliver precision, reliability, and trust consistently across every client engagement,” she explains. “While speed and compliance are important, true excellence lies in striking the right balance between efficiency, accuracy, and personalised service. For us, it’s not just about meeting regulatory deadlines or maintaining a high compliance rate, those are baseline expectations. Excellence means anticipating client needs, ensuring transparent communication, and maintaining uncompromising governance standards at every stage of our work. Ultimately, excellence is measured by client confidence and long-term relationships. When clients know they can depend on ONS FinServ Ltd for integrity, responsiveness, and quality even in complex, cross-border environments that’s when we know we’ve achieved excellence.”
To sustain this high standard, the strategic development of human capital is non-negotiable. The firm is actively cultivating a skillset designed to meet the sophisticated demands of the global client base.
“Human capital remains the backbone of Mauritius’ IFC and of ONS FinServ’s success,” Ms. Nepaulsing asserts. “We prioritise technical expertise in fund structuring, AI-driven compliance analytics, ESG reporting, and digital administration tools. Equally important are soft skills—critical thinking, adaptability, and client relationship management—because our business is as much about people as it is about regulation. Through continuous training, professional development, and cross-functional exposure, we ensure our team remains agile, knowledgeable, and prepared to navigate the increasingly complex governance and fund administration requirements of global clients. This strategic focus allows ONS FinServ to consistently deliver high-quality, compliant, and client-centric solutions.”
Conclusion
Jeveena M. Nepaulsing’s leadership underscores ONS FinServ’s strategic role in providing sophisticated, compliant, and forward-looking corporate and fund administration. By proactively integrating advanced technology, managing complex operational risks, and investing in a highly skilled team, ONS FinServ is not just adapting to the future of finance—it is helping to construct it, ensuring Mauritius remains a leading, trusted gateway for global investment.
