Forex license Mauritius
As the financial sector in Europe becomes more and more regulated, international entrepreneurs are considering alternative jurisdictions for registering companies. The state of Mauritius is one such prospect. The main reasons for the popularity of this small territory are the loyal attitude of the government towards foreign investors, clear and stable legislation, minimum requirements for authorized capital, and document circulation.
What is the Forex license in Mauritius?
Forex transactions are classified as financial services, therefore, they fall into the class of regulated ones. This sector of the economy is overseen by the Financial Services Commission. To provide a full range of FX dealer services, act as an intermediary when making transactions with securities, trade securities, manage client portfolios, and advise on investment issues, you need a forex license in Mauritius.
It is worth choosing this country for a number of reasons. It is much cheaper and easier to get a license here. At the same time, a member of the Forex market has the right to provide brokerage services in most of Europe, Africa, and the countries of the Asia-Pacific region. The legislation allows for higher leverage with a small deposit. The territory ranks 13th in the Doing Business ranking. The country is not included in the “black lists” of unreliable, and the time difference with Europe is only 2 hours, which is also very convenient for serving an international clientele.
Why should you select fintecharbor.com to acquire a financial services provider license?
Although the island’s legislation is quite loyal and the application procedures are much simpler than, for example, in Europe, it will still be quite difficult to obtain the required permission on your own. Experienced international solicitors have repeatedly accompanied customers in acquiring permits to operate in the brokerage market. We know the intricacies of financial services and the requirements of government regulators and are scrupulous about details. Due to cooperation with Fintecharbor, you save time and money and get rid of the routine of collecting papers.
We offer maximum assistance in the process of receiving a Forex license in Mauritius. Our experts will support you at every stage, ensuring fast and high-quality service. The package we offer includes fulfilling all mandatory requirements of the Financial Services Commission.
How to receive the forex license in Mauritius
At the moment, there are 2 types of permits available – investment dealer without underwriting and with underwriting. The difference in the amount of the authorized capital. In the first case, it is around $250,000, in the second, it is 10 times less. An underwritten license allows you to operate as a brokerage firm under the A-Book Broker model, while the second type is suitable for a B-Book Broker.
Basic requirements for documents are standard. It is essential to supply copies of the passports of the first persons of the organization, confirm the address of the firm and obtain a recommendation for trustworthiness from the bank. If the company has been operating for at least 1 year, you must show proof of fine standing. You should also design a business plan for the next 3 years.
As in many other countries, it is imperative to have a real office on the island, as well as local citizens as directors and corporate secretaries. Of course, the company should be managed by persons with practice in the securities market and an impeccable reputation without criminal records.
Also, the national regulator asks for documentary confirmation of the sources of funds, risk management policy, and AML regulations. Requires an agreement with a liquidity provider. All companies must have a designated international auditor.
The term for acquiring a mandate for financial services providers is, on average, six to eight months. The license must be renewed annually.
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How much does it cost to get a Forex license in Mauritius?
The cost for obtaining a Forex license in Mauritius is 70 000 USD.
Reviews
Fintecharbor employs truly qualified advisors. We have applied for a brokerage permit. In the process, the lawyers told us about changes in legislation and tax nuances. Very high-quality consulting and legal support!
A multilingual team of experts is in touch 24/7. I don’t know when these guys sleep, but they are real pros when it comes to financing and investment. They informed us about every stage of obtaining a license and were always in communication. Everything went very smoothly, and we have already started work.
FAQ
Is forex trading legal in Mauritius?
Yes, brokerage and transactions with securities and currencies are completely legal. The island’s law contains regulations on financial services, securities, and insurance law. The Financial Services Commission regulates local and international firms.
This jurisdiction has a positive reputation; therefore, after obtaining the appropriate license, you can conduct business around the globe without restrictions. Many well-known brokerage firms have their place of business in Mauritius.
This jurisdiction has a positive reputation; therefore, after obtaining the appropriate license, you can conduct business around the globe without restrictions. Many well-known brokerage firms have their place of business in Mauritius.
Why are there so many Forex licenses in Mauritius?
Many licensees suggest that the country has quite loyal conditions for startups in the financial sector. The government, in every possible way, stimulates the inflow of investments and large international companies. The legislation is transparent, and the conditions for applicants are not difficult to execute; therefore, a large number of entrepreneurs choose this country to start their cross-border activities.
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