Forex license in Mauritius

• an internationally recognized financial center with a good reputation and a transparent regulatory environment;
• modern telecommunications and banking infrastructure;
• the rapid growth of the financial sector;
• FSC provides clear regulatory guidelines and proactive support for licensed companies;
• protection of company confidentiality through statutory guarantees;
• low level of share capital (from 18000 USD) to obtain a Mauritius forex license
• 0% taxation for foreign forex companies that are not tax residents of Mauritius
• low corporate tax for offshore companies – 3%
• the government has signed more than 30 agreements avoiding double taxation
• no currency control
• remote management of the company
• fast registration of the company – 3-4 weeks
• the time of issue of Forex licenses in Mauritius is about 3 months

Documents required:

• Scans of notarized copies of passports of all members
• Scans of notarized copies of address proof of all members
• Description of your business model, Business plan
• Source of Funds confirmation documents
• AML Policy
• Signed and dated application form
• Information on Ownership/Shareholding structure
• Branches, permanent establishments and participations in other companies
• MLRO and Deputy MLRO employment agreements
• 2 Local Directors employment agreements
• Description of IT Systems, Cybersecurity
• DPO employment agreement

• It is necessary to register a brokerage company;
• To arrange an account of the company in a local bank;
• Hire at least 2 directors resident in Mauritius;
• At least 2 founders must have a financial background;
• Rent or buy a physical local office;
• Sign employment contracts with local employees: AML officer, accountant;
• Conduct regular audits, file financial statements and tax returns;
• Keep all financial records and provide them to the regulator if necessary;
• Develop and implement anti-money laundering and terrorist financing rules;
• Contribute share capital of $18,000;
• Develop a realistic business plan;
• Hold regular board meetings in Mauritius;
• Comply with local laws.

Usually, there are no capital requirements for offshore companies, but regulators are aware of the level of risk and when reviewing your application for a Mauritius forex trading license may impose certain licensing conditions. Most often this will mean that the total authorized capital of the company can’t be below the threshold of $18,000 and the companies need to pay annual license fees – up to $25,000, depending on the type of license and the structure of the organization.

The issuance of a forex license in Mauritius is also accompanied by a state fee of $6,550.

One of the conditions for obtaining a Forex License in Mauritius is to open a Global Business Company (GBC). This type of company opens the opportunity to operate in a favorable tax regime and provide its services in a legal framework.

Opening a GBC on average takes about 2-3 business days, provided that the documentation is prepared in advance and the following requirements are met:

• minimum of 1 shareholder and 2 resident directors
• a secretary resident in Mauritius
• meet the requirements for registration of share capital (according to the type of license)
• local office for correspondence
• opening of a local bank account
• intermediary company between GBC and FSC
• confirm the financial viability of the company

The following steps are required to register a company:

Step 1: Name Reservation

Choose a unique name for your company, and make sure it meets local regulations and is available for registration.

Step 2: Prepare documentation

Gather and prepare all the necessary legal documents to register your company.

• Document proving the corporate structure
• Memorandum of incorporation
• Legalized copies of identification cards of all members of the management, corporate secretary, and shareholders
• Application for registration of the legal entity
• Company name reservation document issued by an authorized body
• Written consent from all directors
• Confirmation of consent from the corporate secretary
• Consent from each of the shareholders
• Proof of the organization’s registered office in Mauritius
• An in-depth business plan including a description of the business activities, target markets, risk management strategy, and monitoring procedures
• Audit reports confirming financial strength and compliance with capital regulations
• Evidence of established procedures for maintaining accurate records, reporting, and regulatory compliance

Step 3: Payment of fees

Make payment of all prescribed registration fees.

Step 4: Registration Procedures

Submit the prepared documents to the registration authority for the legal incorporation of your company.

Step 5. Opening a bank account

After incorporation, open a corporate bank account with a local bank in Mauritius.

Step 6: Tax Registration

Register your company with the Mauritius Revenue Authority to identify your tax liability.

Step 7. Register as an employer

Register your company as an employer with the relevant ministry.

Step 8: Pension contributions

Ensure that all employees are registered with the national pension and provident funds.

Obtaining a forex license from the Financial Services Commission (FSC) is a significant step for any company seeking to operate in the financial markets of Mauritius. This license provides several important privileges and opportunities to operate:

• A company will be able to manage the investment portfolios of its clients;
• It will be allowed to trade securities on its account for their subsequent sale;
• The company will be allowed to offer its clients its investment advice and recommendations;

And finally, the company will be able to act as an intermediary in transactions with securities, including currencies, shares, and other types of assets.

In conclusion, obtaining Mauritius forex licenses is an important step for any company wishing to get involved in investment and brokerage activities in Mauritius.

It gives the company access to the market and enables it to offer its services in a wide range of financial transactions.

The Mauritius Financial Services Authority provides a variety of Forex Licenses in Mauritius to suit the specifics of the planned activity. These licenses give companies access to various market operations and related financial transactions. The following main types of Forex licenses in Mauritius are distinguished:

• Investment Dealer License

  Allows companies to set up forex trading platforms, and provide exchange and trading services.

  This license requires an initial capital of 1,000,000 Mauritian rupees, equivalent to approximately $22,500. There is an application fee of 7,500 MUR ($750) and an annual license fee of 75,000 MUR ($2,500).

• Investment Advisor License

  Allows you to provide investment advice, market analysis, and recommendations on trading strategies.

  This license requires an initial capital of MUR 1,000,000, equivalent to approximately $22,500. There is an application fee of 7,500 MUR ($750) and an annual license fee of 75,000 MUR ($2,500).

• GBL – Global Business License

  Opens up opportunities for a variety of financial work, including investment management. It entitles you to a wider range of services, from forex trading to investment holding.

  This license requires an initial capital of 45 Mauritian rupees, equivalent to about 1 euro. There is an application fee of 23,000 MUR (approximately 460 euros) and an annual fee of 90,000 MUR (approximately 1,800 euros) for the use of the license.