Mauritius Forex License in 2023 — Gofaizen & Sherle
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Forex license in Mauritius

Professional assistance in obtaining a Forex license in Mauritius with a turnkey solution


Mauritius is a thriving offshore economic hub with a developed corporate market. If you want to run a brokerage business in Mauritius you will need a Mauritius forex broker license to operate in a stable jurisdiction with favorable taxation and an ideal development environment. Gofaizen & Sherle will provide professional support at every stage of the licensing process with a guaranteed turnkey result.

Request more information about Forex license in Mauritius

Advantages of a Mauritius Forex License

  • 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

How to Obtain a Forex License in Mauritius

The process of obtaining a forex license in Mauritius is not particularly difficult or specific. It is regulated and supervised by the Financial Services Commission (FSC) and requires the following steps:

Step 1

Company registration

Сollection of all necessary documents, preparation of business plan, description of business model, organizational structure and other required materials.

Step 2

Appointment of key employees

Every company that plans to obtain a Mauritius forex license must appoint at least 2 directors with national residency.

Step 3

Filling out the questionnaire and preparing the legal documents

The directors and shareholders of your firm are required to complete personal questionnaires that will confirm their legal status. In addition, they should confirm their experience in the financial field, provide certified copies of diplomas, and provide a certificate of no criminal record.

You will also be required to provide all the necessary documentation, including a business plan, corporate bylaws, AML/KYC policies, etc.

If you have not previously had experience in completing regulatory questionnaires and collecting documents, we recommend that you consult with Gofaizen & Sherle.

Step 4

License Application

The application along with a package of documents must be submitted to the FSC registry. Note that the regulator may ask for additional information to confirm that the company meets the requirements. In such a case, the processing time of the application may take a little longer. In standard cases, you will receive a license within 3 months.

Gofaizen & Sherle will help to fill out the application according to all requirements of the jurisdiction for a positive response.

Step 5

Opening a Corporate Account

Along with the License Application step, you can start the process of the corporate account opening. This account will be used to deposit the share capital at the time of licensing as well as for the continued operation of the brokerage company.

If you want to work with the largest commercial bank in Mauritius, get online banking, debit card, and SWIFT transfers - ask Gofaizen & Sherle for assistance.

Step 6

Obtain a license

If all of the above steps have been completed correctly, the FSC Mauritius will check that all requirements have been met and will issue a Mauritius forex trading license.

To get the application approved, you need to provide the full package of legal documents, which must necessarily contain:

  • copies of documents of all directors and shareholders that prove their identity and are notarized;
  • proof of residence of all directors and shareholders, for example, in the form of a certified copy of their utility bills;
  • a criminal record certificate for all beneficiaries;
  • copies of key employees' academic credentials, confirming subject matter expertise;
  • AML/KYC policies;
  • memorandum of Association and Articles of Incorporation;
  • a detailed description of internal control systems;
  • business plan, which confirms the financial viability of the company, as well as includes the rules of marketing, description of the target audience and contractors, staff regulations, etc.

Please note: if one of your shareholders is a legal entity - you must submit to the Registry its articles of association, copies of annual reports, and proof of impeccable reputation.

Requirements for obtaining a Mauritius Forex license

  • 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.

Requirements for share capital for Forex licensed companies in Mauritius

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 license is also accompanied by a state fee of $6,550.

Services that a company can provide with a Forex license in Mauritius

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:

  1. A company will be able to manage the investment portfolios of its clients;
  2. It will be allowed to trade securities on its account for their subsequent sale;
  3. 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.

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Maksim Gasanbekov

Maksim Gasanbekov

Junior Partner, Consultant

José Augusto Estigarribia

José Augusto Estigarribia

Associate, Key Account Manager

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Regulation of Forex license in Mauritius

Established in 2001, the Mauritius Financial Services Commission (FSC) acts as the joint regulator for the non-banking financial services sector and international business. The FSC is empowered to license, regulate, supervise, and control business activities in these areas.

FSC actively works to suppress all forms of crime and negligence to protect public investment in non-banking financial products. One of the important aspects of the FSC's work is to maintain the sustainability and stability of the financial system in Mauritius.

The legal and regulatory framework for Forex trading in Mauritius is based on 3 main laws:
The Financial Services Act 2007 governs the procedures and regulations for companies in the financial sector in Mauritius. It includes the regulation of the authorization system, supervision, and oversight of the operations of these companies.

According to this legislation - organizations that wish to operate in the financial services sector in Mauritius must obtain the appropriate license from the Financial Services Commission. They must also comply with the rules and regulations imposed by the Act, including auditing, reporting, transparency, and other risk management measures.

The Securities Act 2005 oversees the operation and regulation of the securities market in Mauritius, covering aspects of the issuance, trading, purchase, and exchange of securities.

Any entity or individual involved in securities transactions in Mauritius must comply with the terms and conditions laid down in the Act. This may include obtaining authorization for transactions, ensuring transparency of transactions, and complying with information reporting standards.

The Anti-Money Laundering and Terrorist Financing Act of 2009 includes measures aimed at preventing and combating money laundering and financing terrorist activities.

Financial institutions and other entities subject to this law are obliged to carry out customer identification, transaction monitoring, suspicious activity reporting, and sanctions compliance procedures. They are also required to maintain a system of internal control and risk management to prevent money-laundering and terrorist financing.

In addition, under Mauritian law, a company aiming to provide financial services and wishing to obtain a Forex license is also required to have a brokerage license. This license gives the right to conduct transactions in many currencies, from euros and U.S. dollars to British pounds, as well as to work with precious metals such as gold and silver.

A company that wants to obtain a Global Business License (GBL1) must apply to the Financial Services Commission (FSC) with evidence of its commercial activities outside Mauritius. GBL1 is a company that conducts any approved international business activity. This may include soliciting investment from the public, which requires adequate protection for investors, and conducting business in a currency other than the Mauritian rupee.

Taxation of brokerage companies in Mauritius

Mauritius is a promising jurisdiction for brokers looking to reduce their tax liability due to the competitive tax regime adopted by the island. The Income Tax Act of 1995, regulates the tax system and imposes a corporate tax of 15% on the income to be taxed. However, this rate is only 3% for offshore companies, which makes Mauritius even more attractive to brokers.

In addition to the low corporate tax rate, Mauritius also offers several other tax advantages to businesses, including:

  1. Providing special incentives which allow companies to be temporarily exempted from paying taxes;
  2. Foreign forex trading companies that are not tax residents in Mauritius are exempt from tax;
  3. Mauritius has signed agreements with various countries, which help to avoid double taxation and provide for the establishment of certain rules and procedures;
  4. Companies in Mauritius are not required to pay tax on dividends received;
  5. Companies are exempt from capital gains tax.

It is important to note that brokers operating in Mauritius must strictly comply with local tax laws and regulations. This includes filing tax returns on time and paying taxes on time. Failure to comply with tax obligations may result in the imposition of fines, interest, and other penalties.

To operate successfully in Mauritius, brokers are required to comply with local tax laws and regulations, including the timely filing of tax returns and monitoring the payment of taxes. Violations of tax rules may result in the imposition of fines, interest, and penalties.

Сhallenges of getting a Forex license in Mauritius

The process of getting a Mauritius forex broker license, just like in any other country, involves some complexities and challenges. Here are some of them:

  • The FSC has strict requirements that must be met. These may include requirements for risk management, financial reporting, anti-money laundering, and internal controls. It can be difficult for some companies to maintain compliance with these requirements.
  • All companies obtaining a Forex license in Mauritius are required to conduct audits and submit financial reports. This can cause difficulties for companies, especially those with no experience in these areas.
  • The regulator can take up to 3 months to review the licensing application and require additional information and documents. You should keep in mind that this issue cannot be resolved in one week.
  • FSC Mauritius is committed to providing a high degree of investor protection, so companies need to take care to preserve their reputation. Any scandal or problem could prevent a license or even lead to its revocation.
  • Finding a local office and opening a corporate account may also present challenges for brokers who have not previously worked with the jurisdiction.
  • In case the FSC has concerns about the company's ability to fulfill its obligations, restrictions may be imposed on the range of services available for provision under the license.

Therefore, before you begin the process of obtaining a forex broker license, it is important to carefully review all the requirements and make sure that your company can meet them. If your company does not have the necessary resources or experience, it can slow down or even make it impossible to obtain a license. We advise you to contact Gofaizen & Sherle for professional support in this matter.

FAQ about Forex License in Mauritius

How long does it take to obtain a Forex License in Mauritius?

The process of obtaining a Mauritius forex license takes about 3 months, but if the regulator needs to clarify data or request additional documents while reviewing the application, the waiting period may be longer.

How do I apply for a Forex license in Mauritius?

Application for a Forex license can be made through the FSC online portal with the required documents and company information.

Can foreign companies apply for a Forex license in Mauritius?

Yes, foreign companies can apply but they must have an office in Mauritius and fulfill all FSC requirements.

Why Choose a Mauritius Forex License?

The choice of a Mauritius Forex Licence is based on the strength of the jurisdiction's reputation, the high standard of taxation, and the balance between regulation rigor and accessibility - all of which make it an attractive proposition for Forex companies.
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