FINANCIAL LICENSING
Brokerage License
In Mauritius
Investment Dealers License
Mauritius is a flourishing offshore financial center; its formation market has become one of the fastest growing company registries in the world due to its efficiency, innovation and its broad range of offshore services.
- Mauritius has the advantages of having a modern and flexible Securities Law.
- Mauritius has a low minimal capital requirement adding another advantage over European jurisdictions.
- Mauritius holds a number of Double Taxation Agreements
- It issues clear Investment Dealer licences within reasonable time, requires reasonablecapital requirements, charges reasonable license fees and has a low tax rate.
4-6 Months
Licensing Time
15%
Taxation ( On Audit )
License Type
- Investment Dealer (excl. underwriting) for STP
- Investment Dealer (incl. underwriting) for MM
Key Information You Need To Know
Required
Information
Information
Process
Required
Following documents are required to apply for license application.
For Each Director , Shareholder & Ultimate Beneficial Owner
- Notarised/Certified Passport Copy
- Notarised/Certified Proof of Address
- Notarised/Certified Bank Statement
- Bank Reference Letter
- Curriculum Vitae
Please provide below, if the company has corporate shareholder :
- Certificate of incorporation
- Memorandum and articles of associations.
- Articles of Incorporation
- Register of Directors & Shares
- Certificate of good standing (if the company is more than 12 months old)
Other Documents Required :
- Liquidity Provider Agreement
- Proof of Source of Wealth
If you have any questions, please feel free to contact us or write to support@startingoffshore.com
Information
Company Structure :
- 2 Directors With Experience in Securities Dealing/Brokerage
- 2 Local Mauritius Resident Directors – provided by us in the package.
Taxation :
- Standard corporate tax rate of 15% is reduced to a net effective tax rate of 3%
- No exchange control restrictions
- Free repatriation of profits, dividends and capital
- No exchange control restrictions
Accounting & Auditing:
- Audit should be done from Mauritius
- The Company will be required to fil audited financial statements and tax return within 3 months from its balance sheet date.
- Accounting records should be kept at the local offices of the administrator.
Registered Agent & Office – Required
Company Secretary- Required
PI Insurance Cover- Required
If you have any questions, please feel free to contact us or write to support@startingoffshore.com
Information
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.
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.
Mauritius FSC offers 2 categories under Investment Dealers License
- Investment Dealers License including underwriting with capital requirement of MUR
10,000,000 (approx. USD 250,000) – Suitable for brokerages operating under STP / A-Book Model - Investment Dealers License excluding underwriting with capital requirement of MUR
1,000,000 (approx. USD 25,000) – Suitable for brokerages operating under Market Maker/ B-Book Model
Permitted Activities under including underwriting license :
- act as an intermediary in the execution of securities transactions for clients
- trade in securities as principal with the intention of reselling these securities to the public
- underwrite or distribute securities on behalf of an issuer or a holder of securities
- give investment advice which is ancillary to the normal course of his business activities
- manage portfolios of clients
Permitted Activities under excluding underwriting license :
- act as an intermediary in the execution of securities transactions for clients
- trade in securities as principal with the intention of reselling these securities to the public
- give investment advice which is ancillary to the normal course of his business activities
- manage portfolios of clients
If you have any questions, please feel free to contact us or write to support@startingoffshore.com
Process
In order to acquire a license, following steps will be carried out :
- Reviewing & Due Diligence of KYC of Directors & UBO
- Name Check & Reservation at ROC
- Preparing Application Forms, Drafting and Compiling Documentation & Reviewing of Application
- Filing Application with the Mauritius Financial Services Commission (FSC)
- Follow up and liaising with FSC
If you have any questions, please feel free to contact us or write to support@startingoffshore.com
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