Mauritius

A thriving financial center bustling with offshore activities.

overview

Mauritius

The favourite of the offshore business community due to its efficiency, innovation and low tax rate.

Modern and flexible Securities Law that promotes the growth of the financial sector.

Compared to European jurisdictions, the capital requirement is much lower.

Mauritius has signed plenty of Double Taxation Agreements with other governments to alleviate double taxation.

License fee is relatively lower, and license will be issued within a reasonable time frame.

  • Time frame: Approximately 4 – 6 Months
  • Taxation: 15% (On Audit)
  • License:
    • Investment Dealer License (excluding underwriting) for Straight Through Processing (STP)

    • Investment Dealer License (including underwriting) for Market Maker (MM)

  • For each Director, Shareholder and Ultimate Beneficial Owner:
  • Notarised / Certified True Copy of Passport
  • Notarised / Certified True Copy of Proof of Address
  • Notarised / Certified True Copy of Bank Statement
  • Bank Reference Letter
  • Curriculum Vitae (C.V.)

For each Corporate Shareholders of the company:
  • Certificate of Incorporation
  • Memorandum of Association
  • Articles of Associations
  • Articles of Incorporation
  • Register of Directors  
  • Register of Shareholdings
  • Certificate of Good Standing (if the company is over a year old)

Other Required Documents:
  • Liquidity Provider Agreement
  • Proof of Source of Wealth
Company structure:
  • 2 Directors With Experience in Securities / Brokerage
  • 2 Local Directors (Mauritius Residents) – we will provide for you

Company Features:
  • As outlined under the Financial Services Development Act, a Global Business License (GBL1) Company is defined as an entity that is involved in any approved global business activities, including raising funds from the public, requiring investor’s protection, and those who conduct business in a currency other than the Mauritius Rupee (MUR).

  • A company applying for a Global Business License (GBL1) license must show proof of conducting business outside of Mauritius to the FSC.

  • By obtaining an Investment Dealer License, you are allowed to carry out your 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 offer investment advice to clients.

  • Mauritius upholds high confidentiality with no public records. You must open a bank account with banks based in Mauritius.

Taxation:
  • Standard corporate tax of 15% is reduced to an effective rate of 3%
  • No restriction on exchange control
  • Free repatriation of capital, profits and dividends

Accounting and Auditing:
  • Audit must be carried out in Mauritius
  • Audited financial statements and tax return must be filed within 3 months from the publication of balance sheet
  • Accounting records must be kept in the office

Others:
  • Registered Agent & Office – Yes
  • Company Secretary – Yes
  • Professional Indemnity (PI) Insurance Cover – Yes
  • Legal Framework: Financial Services Development Act 2001
  • Regulatory Authority: Financial Services Commission of Mauritius (FSC)

Investment Dealers License including underwriting:

  • Capital requirement: Mauritius Rupee (MUR) 10 million (approx. USD 250,000)
  • Suitable for brokerages operating under Straight Through Processing (STP) / A-Book Model

Investment Dealers License excluding underwriting:

  • Capital requirement: MUR 1 million (approx. USD 25,000)
  • Suitable for brokerages operating under Market Maker (MM) / B-Book Model

Permitted Activities:

 

Activities 

License Including Underwriting

License Excluding Underwriting

Function 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

Offer investment advice ancillary to the normal course of the business activities

Manage portfolios of clients

Underwrite or distribute securities on behalf of an issuer or a holder of securities

  1. Review and Conduct Due Diligence Checks on Directors and Ultimate Beneficial Owners (Know Your Customer (KYC) Policy)

  2. Name check and reservation at the Mauritius Registrar of Companies (ROC)

  3. Preparing Application Forms, Compiling Necessary Documents & Reviewing of Application

  4. Offshore Tech & Intermediary Services will submit the application to the Financial Services Authority of Mauritius (FSC)

  5. Follow up with FSC
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