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Mauritius Forex License

Mauritius has a modern and flexible Securities Law and it is one of the best country to apply for Investment Dealer licenses . You can receive the license within a reasonable time, Mauritius requires to pay reasonable minimum capital, licence fees are not too high and Mauritius has a low tax rate.

Before to obtain an investment Dealer license it is requited to register a Global Business Company I in Mauritius.

Below you can find general requirements to set up the company in Mauritius and the main condition for obtaining a Mauritius Forex license.

More information and the quotation you can obtain from BRIS GROUP professional advisers.

Mauritius GBC I Formation Requirements General obligation for Investment Dealer Licenses and Securities

Company Formation

Type of entity need to be required to be eligible for Investment Dealer license

Global Business Company I

Constitution

There is no statutory requirement for a GBC1 to have a constitution. The company will be governed by the provisions under the Companies Act 2001, however the shareholders of the GBC 1 may adopt a constitution at any time through a resolution

The timeline for incorporating a GBC 1

From 5 to 10 days

Directors

Must have a minimum of two (2) Resident Directors in order to avail of treaty benefits, with board meetings held in Mauritius

Corporate director

The concept of Corporate Director is not applicable

Annual Meetings requirement

Must hold an Annual Meeting in every calendar year and within 6 months of the company’s balance sheet date

Shareholder

Both individual and corporate bodies are allowed to be shareholders

Secretary requirement

Registered office

Must at all times have a registered office in Mauritius

Minimum and stated capital

No minimum capital requirement for a GBC 1, can be denominated in any currency

The value of shares

Either par value (which may be stated in more than one currency) or no-par value shares

The form of shares

Registered shares, preference shares, redeemable shares and shares with or without voting rights

Bearer shares

Not permissible

Local auditor

Must have a local auditor

Local bank account

Must have a local bank account

Annual tax return requirements

Must file an annual tax return with the Mauritius Revenue Authority (MRA);

Requirements for audit

Must file audited financial report, not later than 6 months after its financial year end

Confidentiality and security of Beneficial owners

Names of shareholders and beneficial owners must be disclosed to the FSC.

Public records

No information regarding its shareholding, accounts or activities are publicly accessible

Can be GBC I converted into GBC II

Permissible

The main condition for obtaining a Mauritius Forex license

Who approves the license in Mauritius

Financial Services Commission

The main legal framework

The Securities Act 2005 coupled with the Securities (licensing) rules 2007

Categories of Investment Dealer license and Securities

There are different categories of Investment Dealer license and Securities

Time to register a license

Approximately 3 to 4 weeks’ time

Capital requirements

1,000,000 MUR (roughly $30,000)

Physical office requirement

Must have office premises in Mauritius

Requirements of local employees

At least one local employee must be employed full time (who is tax resident in Mauritius) at an administrative or technical level

Staff Qualification

At least two officials who must meet two requirements: have at least 4 years of relevant experience (skills) in this area and lack of criminal records

Requirements of business plan

Business plan for 3 years

Required deposit

Must hold assets of at least USD100 000 within a year in the local bank

Shares must be listed on the Mauritius stock exchange

Double Taxation Agreements

Yes

Taxation

The GBC (global business company) benefits from preferential corporate tax rates by only 3%

Tax on income or dividends

No tax on income or dividends

Capital gains tax or inheritance tax

No capital gains tax or inheritance tax

Financial Statements Disclosure to FSC

File audited financial statements within 90 days of financial year end

License Requirements

License requirements will depend on the business activity, ownership form, location, number of employees etc. Having an appropriate license for your business will avoid high penalties and even closure of a business by local authorities.

We can give you advice on the type of license you require in the chosen offshore jurisdiction as well as the help to obtain them. Please contact us for further information.

Credibility of business license

Knowing that the business is licensed and possess the necessary permits and registration will attract future customers as well as investors.
Separation of business and personal taxes.
Liability protection. Personal protection from future claims on your business thus limiting personal risks.
Access to various business groups and organisations.
Confidentiality as no personal details would have to be revealed.

We can help you decide where to register your offshore company, depending on your requirements, and we have numerous options available. There are a number of factors to be taken into consideration when applying for an offshore business license, and BRIS Group are here to help with expert advice on hand whenever you need it.

Other business license & permission services

Call us today, and get your business off to the best possible start.

We provide a wide range of offshore companies formation, administration and fiduciary services for internal and external clients worldwide. We help to maintain an offshore company in accordance with the regulations, laws and tax authorities of the foreign state in which it is registered for non-resident clients.