Timeframe: 4-5 months

Capital Requirements: 1,000,000 MUR (roughly $35,000)

Overview:

Obtaining a Mauritius Forex License requires that one incorporate a GBC 1 category entity and apply for an Investment Dealer License. The guidelines were laid out in the 2007 Securities (Licensing) Rules and regulated by the 2005 Securities Act. Financial activity in Mauritius is regulated by the FSC (Financial Services Commission).

Forex license in Mauritius is becoming more popular among many brokerage houses around the world.

The Financial Services Commissions (FSC) is a watchdog for Forex brokers that are licensed in Mauritius. At first, it was created for non-banking services, but the increase in the number of Forex brokers forced the increase of obligations before issuing brokerage license Mauritius.

Forex broker should receive certain criteria, such as capital adequacy, as well as suitable and proper tests. The regulator is also responsible for monitoring brokers and warns them in case of rules violation.

Requirements:

Companies that provide the forex services in the Cayman Islands are required:

  1. be incorporated in Mauritius;
  2. be licensed in accordance with the licensing requirements;
  3. meet the minimum net worth requirements (roughly US $35,000) for a securities dealer license;
  4. have two directors (which may be non-residents);
  5. employs at least one individual who is licensed as a representative under the Securities Act 2007
  6. The company must rent premises in Mauritius for keeping records or other documents.
  7. The MLRO must be Mauritius resident
  8. No restrictions on leverage, PAMM/MAM accounts, or IBs