Mauritius Forex License

The Mauritius Forex License is obtained by the Financial Services Commission of Mauritius. Under the Financial Services Act of 2007, Mauritius became home to hundreds of licensed investment firms, allowing it to become – along with its neighboring island Seychelles – an international investment hub.

Mauritius is located in the Indian Ocean, to the east of Madagascar (Southeast Africa outside of Mozambique) and to the south of Seychelles. Currently a member of the Commonwealth of Nations, Mauritius became a Republic in 1992. Its capital and largest city is Port Louis.

It offers a competitive tax regime, a quick (comparatively) registration process and a cost effective solution for online trading firms evaluating offshore regulations.

Characteristics of a Mauritius Forex License – Investment Dealer:

  • 1 million Mauritian Rupee (MUR) – approx. $22,000 at today’s rate
  • Local office required
  • Minimum 2 Directors, fit and proper
  • No leverage restrictions or deposit bonus and reward schemes

Mauritius Forex License

Economy of Mauritius
Main indicators
GDP$11.53 billion
Inflation rate8.3%
External DebtMUR 85633 million
Interest Rate4.5%
Deposit Interest Rate1.22%
Corporate Tax Rate15%
Population1.26 million
Per capita income$9,704
Unemployment Rate6.8%
Corruption Rank57
Mauritius Forex License
Case in point
Average Cost for license
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Office requirements

Employees required


Capital Requirements
Regular reporting

Publicly Recorded Info
Mauritius Forex License

Mauritius Forex License

How to apply?

A Mauritius Forex License, will have the following characteristics:

  • Local company registration and incorporation
  • Local presence via a fully set office that the FSC will inspect and approve
  • Two resident directors, a Compliance officer, an MLRO and an Investment Dealer team
  • 1 million Mauritian Rupee (MUR) – approx. $22,000 at today’s rate
  • No leverage restrictions or deposit bonus and reward schemes
  • Professional indemnity insurance, accounting records and yearly audits


The Mauritius FSC categories based on services to be offered:

  • SEC-2.1A: Investment Dealer Full Service dealer (including Underwriting)
  • SEC-2.1B: Investment Dealer Full Service dealer (excluding Underwriting)
  • SEC-2.2: Investment Dealer Broker
  • SEC-2.3: Investment Dealer Discount Broker
  • SEC-2.8: Investment Dealer Commodity Derivatives Segment
  • SEC-2.9: Investment Dealer Currency Derivatives Segment

An Investment Dealer can perform the following activities:

  • Act as an intermediary in the execution of securities transactions for clients (provide details on how, role/function of the company)
  • Trade in securities as principal with the intention of reselling these securities to the public (provide details as to how it will comply with section 56 (3) and (4) of the Securities Act 2005
  • Give investment advice which is ancillary to the normal course of his business activities (provide details on how, if its binding/non-binding, which securities will be enrolled in the program)
  • Manage portfolios of clients (provide details on how, if its discretionary/non-discretionary)

Non-exhaustive list of requirements:

  • Detailed business plan (inc. target market / securities to be traded)
  • Company KYC documents, 3 year financial forecasts
  • Personal Questionnaires, CVs, Passport and Utility bills
  • Proof of source of funds for the capital requirement
  • Criterion 20 requires a 2 person Investment Dealer team. It is reminded that a strong Dealer team is quote “a key component of the application”
  • Compliance (CO) and MLRO functions can be outsourced
  • Manuals, indemnity insurance, complaints handling
Mauritius forex license
Mauritius forex license

More Information to be considered:

A Mauritius Forex License requires a local Management Company to handle both incorporation and application process. Forty-three (43) criteria will be evaluated through the application process some straight forward and some connected to Circulars the FSC released over the last few years. Circulars like CL 280313 relating to corporate governance and the expertise of the proposed Directors to exercise their duties or Circular Letter CL1-121018, regarding the substance requirements and details on how the company will comply to this.

Just like any offshore jurisdiction, local footing is required to ensure that a clean, accurate and complete application will be submitted from promoters that the regulator recognizes. In the event that an application is not complete, the regulator will return it back accordingly.

The broker will be required to incorporate a Global Business License (category 1). A GBC1 company is a resident corporation allowed to conduct business outside Mauritius. For this reason, the FSC wants the company to have a deeper root system within the island via a resident office with its accounting books and audited yearly financial statements, a minimum 2 resident/experienced Directors and a local bank account.

There is an extensive number of Double Tax Agreements that investors can benefit from, all outlined on the official website of the Mauritius FSC.

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