Mauritius is a thriving financial center bustling with offshore activities.



A Mauritius Payment Service Provider (PSP) / Payment Gateway may link to several acquiring banks (a financial institution that accepts credit card transactions, manages card settlements and mitigates risk.)

Several forms of electronic payments are available.

Serving a wider customer or merchant base online.

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

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

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

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

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

  • Time Frame: 4-6 Months
  • Taxation: 15% (Can be reduced to a net effective rate of 3%).
  • License: Payment Intermediary Services (PIS) License

For each Director, Shareholder and Ultimate Beneficial Owner:

  • Notarized / Certified True Copy of Passport
  • Notarized / Certified True Copy of Proof of Address
  • Notarized / Certified True Copy of Bank Statement
  • Bank Reference Letter
  • Detailed Curriculum Vitae (C.V.) dated and signed by applicant

For each Corporate Shareholders of the company:

  • Certificate of Incorporation
  • Memorandum of Association
  • Articles of associations
  • Register of Directors
  • Register of Shareholdings
  • Certificate of Good Standing (if the company is over a year old)

Other Required Documents:

  • Detailed Business Plan, including:
    1. A description of the activities, targeted customers, products and services to be offered, target countries/geographical area of operations, risks associated with the model proposed, and measures to mitigate those risks
    2. Process flow of funds and role of the company in the process with respect to the flow of funds
    3. A copy of the contract to be signed between the company and the customers
    4. Details on the mechanisms put in place to ensure the security of transactions
    5. Proof of Source of Wealth
Company Structure:
  • Minimum 2 Directors (with experience in Payment Service)
  • Minimum 2 Local Directors (Mauritius Residents, Offshore Tech & Intermediary Services will provide for you)

  • Standard Corporate Tax of 15% is reduced to a net effective rate of 3%
  • Free repatriation of profits, dividends and capital
  • No exchange control restrictions

Accounting requirements:
  • Audit should be done in Mauritius
  • Audited Financial Statements and Tax Return must be submitted within 3 months from its balance sheet date
  • Accounting records should be kept at the local office

  • Registered Agent – Required
  • Registered Office – Required
  • Company Secretary – Required
Legal Framework: The Financial Services Act 2007

Regulatory Authority: Financial Services Commission of Mauritius (FSC)

Time Frame: Approximately 4 – 6 Months

Minimum Paid-Up Capital: MUR 1 million (approximately USD 25,000)

License Information

  • The Payment Intermediary Services (PIS) License is suitable for those who wish to operate as a Payment Service Provider (PSP), or otherwise looking to provide payment services to customers who are making payments, or merchants requiring payment services, or both.

  • A PIS provider normally acts as an intermediary between customers and merchants by accepting electronic payments through a variety of payment methods including credit cards, bank-based payments such as direct debits, bank transfers and real-time transfers based on online banking.

  • Payment Service Providers (PSPs) / Payment Gateways are becoming more of a norm, addressing the ever-increasing need of online shoppers and merchants making transactions online.

  • The PIS activity is regulated under the Financial Services Commission (FSC), and can only be applied by an overseas enterprise for conducting the activity exclusively outside of Mauritius.

Capital Requirement
  • The minimum capital requirement for a PIS License is currently set at MUR 2,000,000 (USD 50,000) or equivalent in other currencies, given the nature, complexity and risks associated with PIS activities.

  • The shareholders of the entity will need to capitalize the Company with this amount following licensing of the entity and prior to the start of operations.

  • The shareholders will be requested to provide documentary evidence of the origin and legitimacy of the source of funds that will be used as capital.

  • Where any additional amount will be invested in the company in addition to the minimum stated unimpaired capital, whether by the shareholder or other persons, the same details for the source of funds shall be provided to the FSC during the application.

Permitted Activities under PIS License
  • Offer wallets / accounts to individuals and corporate clients.

  • Offer Merchant services such as trustee payment processing, credit card processing etc to companies, online shop owners or any Merchant that is operating according to its local and the Mauritius laws.

  • Enable customers to fund their wallets, process incoming and outgoing payments directly via correspondence banks, or through third party infrastructures such as Single Euro Payments Area (SEPA) infrastructure in Europe.

  • Charge fees for accounts, openings, incoming and outgoing transfers, credit card processing, other payment methods.

  • Issue account certificates to your account holders.

  • Offer online banking and transfer options for individuals and corporate clients.

  • Issue debit cards by co-branding or white label services.
  1. Compile and prepare all the application forms and documents for initial verification.

  2. Draft the Detailed Business Plan as requested.

  3. Perform due diligence on the Know Your Customer (KYC) documents of the Directors and Ultimate Beneficial Owners.

  4. Incorporation of an offshore company in Mauritius.

  5. Submit the application of the Payment Intermediary Service (PIS) License to the Financial Services Commission of Mauritius (FSC).

  6. Provisional approval will be granted by FSC if it is satisfied with our submission.

  7. We will liaise with FSC on follow-up actions, and submit additional documents that are requested.

  8. Fulfill all the conditions listed by FSC in order to obtain the PIS License.
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