What is the Mauritius Forex license?
With a Forex license in Mauritius (Investment Dealer license), a company is authorized by the Mauritius Financial Services Commission (FSC) to provide financial services relative to securities, investments, brokerage, financial advice, etc. Many business models are possible under this framework, supervised and monitored by the FSC.

Obtaining the license can be reasonably short, in comparison to similar authorizations for financial companies. The requirements, both for the licensing and the operation of the company, are lighter than more traditional and so-called “onshore” licenses.

It stands saying that Mauritius, though being an island set in a paradise environment, with a financial center and advantageous tax conditions, does not tick all the boxes of an offshore jurisdiction and is not considered a tax haven. This is particularly true for domestic companies, which are liable to a flat tax rate of 15% on worldwide income.

Mauritius investment platforms are required to be domestic and hold substance in the island of Mauritius, in the form of a physical office space, at least one local worker and a certain amount of corporate expenses in the country. Bookkeeping and auditing applies as per the legislation in force.

What is the process to get a Mauritius Forex license?
The timeline to secure a Forex license in Mauritius is variable, depending on the project complexity and workload of the regulator.

Usually, the period required for the license to be obtained ranges from six months to a year, based on Rengang’s experience observed in practice. The acquisition of a ready-made Mauritius forex broker company reduces the duration of the process significantly.

The duration of the licensing process is mainly conditioned by two factors:

The correct preparation of the application and required legal documents;
The quickness in answering the requests of the Financial Services Commission.
The process is straightforward: the regulator has set expectations in terms of requirements and criteria to be met, laid out in law texts and guidelines issued by the FSC. Proper guidance on the matter is therefore advisable, with a trusted partner such as Rengang.

The process, in summary, is broken down into three major parts:

The incorporation of a company in Mauritius
, with substance (office, local worker);
The drafting of legal documents and preparation of all the application requirements, including share capital deposition into a newly opened bank account;
The reviewing of the application by the regulatory authorities, which may ask for additional information to the project team.
The founding team of the project shall expect to be called in to the Republic of Mauritius for physical meetings in the premises of the Financial Services Commission.

What are the different Forex licenses in Mauritius?
The Forex license in Mauritius is broken down into 4 tiers of authorization. Each of these tiers allow an increasing level of financial services. Obviously, for each type of license, specific requirements and obligations apply, that are acknowledged by the project team when preparing for the application.

1- Discount Brokers

Execute transactions on behalf of your clients.

2- Brokers

Manage your clients’ portfolios and give them advice on securities’ transaction.

3- Full Service Dealer without underwriting

Act as intermediary, trade securities as principal to resell to the public and give investment advice (overall strategy, not limited to individual securities).

4- Full Service Dealer with underwriting

In addition to everything else, underwrite and distribute securities on behalf of an issuer or holder.

Each tier of licensing imply a different level of licensing fee, annual license renewal fee and minimum share capital to be deposited and maintained at all time in a Mauritian bank account. The breakdown of the fees and capital requirements can be found in our table, in the dedicated subsection.

Can I purchase a shelf companies with a Mauritius Forex license?
Yes, in case you want to get to business faster, this is an advisable choice.

Ready-made Forex companies in Mauritius allow Forex brokers to get started seamlessly by acquiring an existing entity, with or without past activity. Rengang provides complementary assistance for all the aspects to cover, in order to ensure a fast delivery and startup.

Rengang has a rolling stock of ready-made Mauritius investment companies. Inquire directly to our consulting team for available entities and prices.