Licensing

Forex License
These two licenses make a company authorized to act as intermediary in the execution of securities transactions for clients, and trade in securities as principal with the intention of reselling these securities to the public.
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 Global Business Category 1 Licence set-up: USD$25.000,00

 Statutory 1styear fees: USD$5.110, 00

 Total set-up fees payable for the first year – USD$ 30.110,0 

 Annual fees: USD$ 3.400,00 per annum

 Director fees: USD$/month 1.500,00

 Statutory annual fees: USD$4.080,00 per annum

 Monthly administration fees: USD$/month 1.700,00 USD

 Accounting fees: USD$/month 1.500, 00 USD

 Tax return: Starting from USD$ 2.500, 00 USD per annum

 Audit: Starting from USD$ 6.000, 00 per annum

The company shall hold 2 types of licenses to be authorized as a  Full-Service Dealer. Licenses are usually obtained within 4-6 months  after the application is submitted to the Financial Services Commission  (FSC).

Having GBL 1 license exempts the company from corporate tax of 15%. 

It is required that the Company has 2 resident directors (such service  may be provided by OFFSHORELICENSE) and a local office in Mauritius.  Aside from local directors, the Company shall employ at least 1 local  employee of technical or administrative support, showing adequate local  presence in Mauritius. Accounting and audit shall be conducted from  Mauritius office, therefore, it is necessary to have a local accountant  an auditor. All accounting and records shall be maintained in  Mauritius. 

The Company shall have its principal bank account in Mauritius. There  is no requirement to maintain a fixed amount of fund representing the  capital in the bank account. The capitalized amount can be used to cater  for expenses of the company but the capital shall be unimpaired at all  time.

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Facts & Info for Mauritius Global Business Category 1 licence

Notable features
Procedure
Documents Required

General information

Company structure

  • 1 shareholder (may also be the director)
  • 2 resident directors (provided by OFFSHORELICENSE).
  • A Company Secretary.
  • At least 1 employee of administrative or technical level based in Mauritius office

 Timeframe

 4-6 months form the date of the application.

 Capital

 Minimum stated capital requirements:

 Investment Dealer (incl. underwriting*) – MUR 10,000,000 (US$ 333,333)

 Investment Dealer (excl. underwriting) – MUR 1,000,000 (US$ 33,333)

 *allows to underwrite or distribute securities on behalf of an issuer or a holder

 The capitalized amount can be used to cater for expenses of the company but the capital shall be unimpaired at all time.

 It is mandatory to segregate clients’ funds from company funds.

 Taxation  

  • No tax on income and dividends;
  • No capital gains and inheritance tax;
  • No exchange control restrictions;
  • Standard corporate tax rate of 15% is reduced to a net effective tax rate of 3% (or even less).

 Accounting requirements

  • The Company will be required to fil audited financial statements and tax return within 3 months from its balance sheet date.
  • Audit should be done from Mauritius.
  • The authorities may do half-yearly audit of the Company.
  • Accounting records should be kept at the local offices of the administrator.

 Registered Agent - Required

 Registered office - Required

 Local employees   - Required (minimum 3)

In order to obtain a license, the following steps will be carried out:

  • Application for reservation of company name.
  • Preparation and submission with the Financial Services Commission  (FSC) for the application of a Global Business Company Category 1  License.
  • Incorporation of the company.
  • Opening of first Corporate Bank Account in Mauritius (principal bank account).
  • Application Investment Dealer License.

In order to obtain forex license, we will fill all necessary application forms and also acquire apostilled corporate documents.
For that reason, please provide us with the following documents.

  • Notarized passport
  • Notarized 2nd ID
  • Certified Utility Bill
  • Notarized Criminal Record
  • Bank reference Letter
  • 2 Character Reference Letters issued by professionals
  • Certified Diplomas of Higher Education
  • Detailed CV dated and signed by the applicant
  • Detailed business plan
  • Manuals (will be drafted by OFFSHORELICENCE): procedure manual,  privacy policy, disaster recovery plan, complaints handing policy, Anti  Money Laundering policy, security policy and procedures

 All documentation shall be provided in English language or translated  to English by a professional and certified by Notary Public.

General Requirements

Minimum stated capital:

  • MUR 10,000,000 (US$333,333) (dealer allowed to underwrite or distribute securities on behalf of an issuer)
  • 1,000,000 (US$ 33,333) (dealer NOT allowed to underwrite or distribute securities on behalf of an issuer)
  • Registered office in Mauritius
  • Registered Secretary in Mauritius
  • A local office
  • 2 local resident directors
  • A Company Secretary
  • At least 1 administrative or technical employee