Get a Forex Brokerage License in Mauritius 2023

Facts & Figures

Mauritius offers a well-established and globally respected Forex broker license featuring easy access to good bank accounts, advertising opportunities, and low payment service provider fees.

The process

The costs

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Book a free consultation with one of our experienced specialists to get your license application start or learn more about the Mauritius Forex License.

About the Mauritius Forex License

Table of Contents

Mauritius, an often overlooked island nation in the Indian Ocean, is quickly becoming a top choice for offshore forex brokerage licenses due to its regulatory framework and the advantages that come with having a well-regarded license. In this comprehensive guide, we’ll explore the process of obtaining a forex brokerage license in Mauritius, covering the various steps, requirements, regulatory benefits, and other perks that the African island offers to its residents and companies.

The Economy of Mauritius

With an estimated gross domestic product (GDP) of $25.8 billion in 2020, Mauritius can’t be considered an economic power house. The economy is based on the export of goods and services, particularly sugar, textiles, and tourism. The country has also developed a strong financial services sector and is a major regional financial center. 

In recent years, Mauritius has seen a surge in foreign direct investment, particularly from China and European countries. The main focus of these investments concern the financial services industry and real estate.

How Mauritius Regulates Financial Markets

Mauritius regulates financial markets through the Financial Services Commission (FSC), which is responsible for the licensing, supervision, and regulation of all financial services providers, including banks, insurance companies, securities dealers, and collective investment schemes. The FSC also regulates the activities of non-bank financial institutions, including money lenders, foreign exchange dealers, and money transfer services. The FSC sets and enforces standards for the conduct of financial services providers and monitors compliance with these standards. 

Registering a Forex Company in Mauritius

Typically, registering a new company in Mauritius will come with a multitude of hurdles and hoops to jump through. Clients of, however, will be subject to the following process:

1. Complete the KYC Form

In the first step, we provide our clients with a KYC form and ask you to provide all the necessary information about your business activities. This form will require details such as company name, registered address, nature of business, information about the shareholders and directors, and other relevant information.

2. will prepare all the required documents.

If all needed information has been provided, we will then create the Memorandum and Articles of Association (MAA) for your company and start the legal procedure to register the company.

3. Obtain Approval from the Financial Services Commission 

Before proceeding further, it is crucial to obtain approval from the Financial Services Commission (FSC). The FSC will review your application and determine if you meet the requirements to operate a business in Mauritius. Of course, we will assist you in obtaining the necessary approval letter from the FSC.

4. Bank Account Opening

With the FSC approval in hand, we can now proceed with opening a bank account for your company with a Mauritius-based bank. However, most banks in Mauritius require the FSC approval letter before they will consider opening an account for your company. 

Taxation in Mauritius

Mauritius undoubtedly offers very favorable tax laws for Forex companies. Generally, most Forex businesses will be interested in founding a Global Business Company (‘GBC’). 

This company type is subject to a 15% corporate tax rate on its global income. However, GBCs are not subject to capital gains tax and can receive a foreign tax credit for withholding and underlying taxes paid abroad. Additionally, some income streams can receive an 80% tax cut if they meet certain requirements.

Personal income tax in Mauritus ranges from 0% to up to 15%, which applies on all income above MUD 975,000 (roughly $21,000 as of 2023).

As such, Mauritius is an excellent jurisdiction from a tax perspective that is not perceived as a tax haven by local regulators.

Benefits of the Mauritius Forex License

Mauritius has become a popular offshore hub for obtaining forex brokerage licenses due to its favorable regulatory environment, strong financial services sector, and numerous tax incentives. In detail, its benefits include:

1. Robust Regulatory Framework

Mauritius boasts a well-regulated financial sector overseen by the Financial Services Commission (FSC). The FSC ensures that forex brokers adhere to strict guidelines and standards, promoting transparency and accountability. This robust regulatory framework helps build trust among investors and traders, making Mauritius a desirable location for forex brokers.

2. Cost-Effective Licensing Process

Compared to other jurisdictions, the licensing process in Mauritius is relatively cost-effective. The initial and ongoing fees are lower, making it an attractive destination for forex brokers, especially those in the early stages of their business. The Mauritius forex license also has a faster approval process, which allows brokers to commence their operations sooner.

3. Favorable Tax Regime

Mauritius offers a competitive tax regime that benefits forex brokers. The corporate tax rate is a flat 15%, and there are several tax incentives and exemptions designed to encourage foreign investment. These include tax holidays, duty-free imports, and tax-free repatriation of profits, making Mauritius an attractive jurisdiction for forex brokers looking to minimize their tax liabilities.

4. Access to Regional Markets

Mauritius is strategically located in the Indian Ocean, with easy access to the African, Asian, and Middle Eastern markets. As a member of the Southern African Development Community (SADC) and the Common Market for Eastern and Southern Africa (COMESA), Mauritius offers forex brokers excellent opportunities to expand their business and clientele across these regions.

5. Stable Environment

Mauritius is recognized for its political stability and strong economic performance. The country has consistently implemented reforms that promote economic growth, attracting foreign direct investment and developing a strong financial services sector. Forex brokers operating in Mauritius can enjoy the benefits of a stable environment that supports the growth of their business.

6. Reputation as a Legitimate Financial Center

Mauritius has established itself as a reputable international financial center, thanks to its robust regulatory framework, skilled workforce, and commitment to economic growth. Forex brokers who obtain a Mauritius forex license can leverage the country’s positive reputation to attract clients and investors who are confident in the quality of services offered.

Who is eligible for a Mauritius Forex License?

To be eligible for a Mauritius forex brokerage license, applicants will need a clean criminal record. Additionally, any residents, and sometimes even people with ties to high-risk countries such as Iran and North Korea are typically not eligible. Politically exposed persons may also face difficulties in obtaining a license. to prove their eligibility all applicants, including owners and directors of the company, must undergo a thorough background check to verify their eligibility.

Applying for a New Forex Brokerage License: A Step-by-Step Guide

Below is a list of steps you need to take while applying for a new Forex license in Mauritius.

  1. Develop a comprehensive business plan: Include business strategy, financial projections, marketing plans, and KYC procedures for assessing client risk levels and complying with anti-money laundering regulations.

  2. Appoint investment dealers and local directors: Appoint at least two experienced investment dealers and two local directors to comply with regulations and ensure proper KYC procedures.

  3. Obtain insurance quote and submit application: Get a quote from an insurance company for your business and submit your application to regulators along with the initial fees.

  4. Open a local bank account: Once your application is accepted and pending, open a bank account in Mauritius. However, you must wait for license approval before you can start operating.

  5. Obtain license approval and start operating: Once your license is approved, you can begin operating your forex brokerage in Mauritius.

Comparing Mauritius to Other Jurisdictions

Mauritius is currently considered the hottest global license globally for forex brokerages due to its advantages, such as ease of advertising, access to good bank accounts and payment service providers (PSPs), and a fast, efficient process when working with a professional consulting agency. While there are other jurisdictions to choose from, Mauritius offers a competitive edge for businesses, with its low ongoing operational costs and strong reputation in the financial industry. If you are looking for a similar option that is cost efficient and fast yet on-shore, then we suggest checking out the South Africa license next.

Key Benefits of a Mauritius Forex Broker License

  • Rising reputation among off-shore options
  • Exemption from stamp duties and fees
  • Non-residents receive tax exemption on royalties
  • No public records


Ready to Move Forward?

Book a free consultation with one of our experienced specialists to get your license application start or learn more about the Mauritius Forex License.