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Mauritius Forex License

Brief Overview:

The Republic of Mauritius is an island nation in the Indian Ocean off the south eastern coast of Africa. The capital and largest city is Port Louis and it is a member of the Commonwealth of Nations and the African Union. It is an English and French speaking country with a population of 1.3 million people.

The Financial Services Commission (FSC) is the regulating body in Mauritius and it is responsible for the review and issuance of Foreign Exchange licenses (forex). The FSC licenses are issued within 6 months to financial companies intending to engage in forex activity as long as they meet certain criteria required by the FSC. Mauritius FSC’s were established primarily as financial regulators for non-banking services to comply with the Financial Services Development Act of 2001. The minimum capital requirement for an investment dealer including underwriting is approximately 250,000 EUR ($308,000 USD) and without underwriting 25,000 EUR ($30,800 USD).

A company applying for a Global Business License (GBL1) license must submit the appropriate application to the FSC and show proof of conducting business outside of Mauritius. Under the Financial Services Development Act, a GBL1 Company is defined as a company that engages in any approved global business activity which includes raising funds from the public, requiring investor’s protection, and those who conduct business in a currency other than the Mauritius Rupee. A Forex License allows conducting business as a full-service Forex Dealer, act as an intermediary in executing securities, underwrite or distribute securities for an issuer or holder, trade in securities as a principal with the purpose of reselling to the public, and Investment Advisors. Companies are exempt from stamp duties, registration duties or other like fees. Royalties paid to non-residents are exempted from taxes and Mauritius has high confidentiality with no public records. You must have a bank account in Mauritius.

Application Process:

In order to stream-line the application process, provide all required documentation and let our professionals expedite the registered incorporation. The documents needed must be in the English language or accompanied by an English notarized translation, the FSC may require additional documentation for specific information.

Documents Required
  • A notarized color copy of a valid passport (one copy for each Shareholder, Director, Beneficial Owner, or Authorized Signatory)
  • 2 Character reference letters issued by professionals (for each Director and Shareholder)
  • Certified Diplomas of Higher Education
  • A proof of residential address dated within the last 3 months (for example: a utility bill: one copy for each Shareholder, Director, Beneficial Owner, or Authorized Signatory)
  • A notarized copy of a Bank reference (for each Shareholder, Director, Beneficial Owner, Authorized Signatory)
  • A detailed signed and dated Curriculum Vitae (CV) (for each Director and Shareholder)
  • Notarized criminal record (for each Shareholder, Director, Beneficial Owner, Authorized Signatory)
  • You must submit three different company names in order of preference
  • A detailed business plan
  • Any paid-up capital source
  • Manuals: procedure manual, privacy policy, disaster recovery plan, complaints handling policy, Anti-Money Laundering policy, security policy and procedures
If Shareholders and/or directors are legal entities, it is required to submit:
    • A full set of certified company documents
    • If the company has been operating over a year, a certificate of Good Standing must be submitted.
    • List of Shareholders
    • Copy of the last Annual Financial return
    • Apostilled Certificate of Good Standing

Advantages :

  • Mauritius is a globally recognized jurisdiction
  • It takes a relatively short period of time to make incorporation official (3-4 weeks).
  • You can obtain a Mauritian Broker License in as little as 3 months
  • Mauritius holds a number of Double Taxation Agreements
  • GBC taxation on global profits is limited to 3%.
  • Mauritius has a low minimal capital requirement adding another advantage over European jurisdictions.

Time Frame:

Obtaining a Forex license in Mauritius typically takes 3-4 months.

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