Mauritius Forex License
HOW TO OBTAIN FOREX LICENSE IN MAURITIUS
It is prohibited to provide any financial services without a license obtained by a special commission in Mauritius. For violation of this rule the sanctions are provided. Investment brokerage activities related to the forex market, is subject of licensing in Mauritius.
Is it possible today to get a forex license in Mauritius?
Recently Mauritius Commission refused several companies in obtaining investment licenses becuse companies were going to provide a full-fledged brokerage activity with license obtained in Mauritius. There is no concept of “Forex license.” in the fiscal legislation of Mauritius.
Mauritius license that allows trading in the forex market correctly called the Investment Dealer License.
To trade forex you need to obtain “Brokerage” license subspecies.
But let’s speak frankly, there is no guarantee that Commission will issue a license. After all, if the applicant is lucky and is given this license, he again faces a number of trade restrictions.
The lucky holder of a license cannot trade for the following deals: EUR / USD, GBP / USD, USD / MUR, Gold, Silver, WTI.
Also the license holder company is not allowed to use a well-known trading platform MetaTrader.
And most importantly, there is no reliable company that will guarantee obtaining a forex license in Mauritius. Therefore, be careful choosing consultants.
Financial Services Commission is the central regulator of the financial services sector.
1. Mauritius Financial Services Act
2. Mauritius Securities Act
3. Mauritius Insurance Act
The procedure for obtaining license
• Filling personal questionnaires of directors and shareholders of the company, followed by the necessary documents, that confirm the legal status of persons
• Preparing the application form and related documents (internal regulations, anti-money laundering policy, etc.)
• Applying 2 resident directors
• Submission of required documents
• Incorporating the company after receiving approval
• The company will receive a license and can start activity after the registration
• Minimal authorized capital Euro 17,000
The cost of filing forms and maintenance the license can range from USD 15,000 to USD 20,000
• incorporating company
• providing a registered office address for the first year
• providing company secretary – resident (required by law) for the first year
• providing two directors – resident (required by law) for the first year
• opening a bank account in Mauritius
• collecting and reviewing documents for obtaining a license
• submission documents to the Commission and supporting throughout the verification process up to obtaining license
• Representative Services
• Preparing a business plan
• Preparation of guidelines, policies (internal regulations, the necessary measures for compliance policies, anti-money laundering policy, the risk management policy, etc.)
• Preparation of financial forecasts
• Accounting and audit
• Preparation and submission of tax reports
• Monitoring of laws compliance
5-6 months from submission the full package of documents to the Commission (including the period for the company establishment)
SBSB offers help in obtaining brokerage license in Mauritius and other jurisdictions.
Please check all the list of jurisdictions below the page.
If any qualified help in obtaining brokerage license need, please, feel free to contact our specialists via phone-call (numbers required can be found in contact list on the internet page) or by submitting a form located on the left side of the page.
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