Forex Broker Licence in Mauritius

Forex License Mauritius

If you decide to do business in the financial or capital markets, you must have a license to operate even in offshore jurisdictions. Companies registered in Mauritius can apply for a license that allows them to operate legally with options, securities, and futures. It is also the document that authorizes companies to trade in foreign exchange markets.

Mauritius Financial Services Commission (FSC) grants Mauritius Forex license to companies. This body regulates the non-banking financial services sector, insurance market, pension fund, and other businesses. The regulatory body is responsible for licensing companies that meet the government's requirements and submit the following documents along with the application:

  • The company's memorandum and articles of association.
  • A description of the internal control system.
  • A business plan listing prospective customers, suppliers, planned marketing, recruitment mechanisms, etc.
  • Results of personnel testing for professional aptitude and compliance with certain skills, experience, and qualifications required to perform the job duties.

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Forex license in Mauritius

It is necessary to register a local company, for which a license will subsequently be issued. You should select the name of the company, indicate the participants and provide their documents in order to register a company.

Account opening

The company needs to open a bank account in order to deposit the share capital. Opening an account is a complex process that should be entrusted to professionals. In order to open an account, you should to collect a package of documents and competently conduct further negotiations.

Contribution of authorized capital

The exact amount of authorized capital depends on the type of the license. The beneficiary must provide documents on the source of origin of funds contributed as authorized capital upon bank's request.

Hiring required employees

The company must have key positions employees, some of them must be local. We will help with the search and selection of employees.

Office rent

Office rent is not mandatory, but having one will significantly increase your chances of obtaining a license. We will select a budget option that meets the requirements.

Preparation of documents for applying for a license

It is necessary to prepare a business plan, and policies. In addition, application forms must be filled out. The client will only need to provide a basic information, on the basis of which we will prepare documents, taking into account local legislation.

Filing an application

It is necessary to submit an application to the regulator after preparing the company and documents. After submitting an application, you must be ready to answer additional questions from the regulator. We will take care of timely and competent answers.

Obtaining a license

The company receives a license after successfully passing the previous stages.

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What types of Forex licenses Mauritius exist

Companies registered in the state may apply for one of the following financial investment licenses:

  • Full-Service Dealer — the right to provide any financial brokerage services.
  • Broker — execution of customers' orders with or without the right to give investment advice (Discount Broker).
  • Investment Dealer (Commodity/Currency) — the right to act as a broker on Commodity/Currency Derivatives, depending on the type of the issued license.

A Mauritius Forex license will only be granted to companies meeting certain requirements regarding personnel. In particular, it concerns the presence of:

  • A board of directors with at least two individuals. They must be residents of the Republic of Mauritius. If there are more directors, most of them must be residents.
  • A resident secretary of this state.
  • A local auditor.
  • Accountant.

Licensed companies must be audited annually and submit financial statements.

Forex license Mauritius: What services a company can offer

If the FSC grants a Forex license Mauritius to a legal entity, the company will be able to:

  • Act as an intermediary during various transactions with clients' securities — FX, stocks, and others.
  • Provide investment recommendations to customers.
  • Manage client portfolios to make profits.
  • Trade securities as a principal for their resale.

Peculiarities of obtaining a Mauritius Forex license

There are several types of financial licenses in this state, but you should apply carefully: if the FSC has doubts that the company will be able to fulfill its obligations, the list of available services under the license may be reduced.

Forex license Mauritius will not be granted to companies that do not have a real office in Mauritius. The same applies to the bank account, which must be opened in any bank of the Republic of Mauritius.

By contacting our company, you are entrusting the process of licensing companies to the hands of professionals. Our specialists will prepare the documents required for licensing, provide you with qualified legal advice, and handle the issue of licensing your Forex company in the Republic of Mauritius.

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