Nikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right licence scope and leads the file all the way to the FSC decision, including banking and payment rails.
Get a forex license in Mauritius.
The offshore licence with an onshore reputation: the Investment Dealer licence from the FSC Mauritius under the Securities Act 2005 - MUR 1,000,000 unimpaired capital for the full-service tier, two resident officers, an FRC-approved auditor, and the 15%-headline, 3%-effective tax treatment licensed dealers qualify for.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Licenses obtainedlicenses obtained
Updated
Mauritius in brief
The respectable middle of the offshore spectrum.
Mauritius licenses forex brokerage as investment dealing: the FSC's Investment Dealer licence under the Securities Act 2005, tiered by the Securities (Licensing) Rules 2007 - the Full Service Dealer (excluding underwriting) at MUR 1,000,000 minimum stated unimpaired capital is the tier FX brokers take, with underwriting at MUR 10,000,000, broker at MUR 700,000 and discount broker at MUR 600,000 below it. The FSC's criteria are concrete: two officers based full time in Mauritius and conversant with the operations, an auditor approved by the Financial Reporting Council, a registered office, and directors compliant with the FSC's directorship circular. Fees are published - US$750 processing, US$2,500 annual.
What Mauritius adds that pure offshore cannot: standing. The jurisdiction runs a genuine treaty network, cleared the FATF process years ago, and its Global Business framework is familiar to banks from Johannesburg to Singapore - an investment dealer here banks and contracts more easily than its price tier suggests. The tax completes the case: 15% headline corporate tax, with licensed investment dealers expressly within the 80% partial-exemption regime - a 3% effective rate on qualifying income for companies with real substance. We build the entity, the officers, the file and the substance as one programme from Port Louis.
FSC Investment Dealer (Full Service excl. underwriting): MUR 1,000,000 unimpaired capital, two full-time Mauritius officers, FRC auditor, US$750/US$2,500 fees - the offshore licence with treaty-network standing.
Licensed dealers sit expressly in the 80% partial exemption: 3% effective with substance. We build licence and tax as one programme.
The two routes
Full service dealer - or the broker tier.
One licence family, tiered by capital: the Full Service Dealer (excluding underwriting) at MUR 1,000,000 - or the broker tiers below for intermediation-only models. We fix the tier first, then build once.
Full service at MUR 1M - or broker tiers at MUR 600-700k.
01 - FULL SERVICE DEALER
Excluding underwritingThe dealing licence
The FX broker's tier: dealing in securities and derivatives as principal and agent at MUR 1,000,000 unimpaired capital. With the FSC's officer, auditor and governance criteria built in.
The FX broker's tier: dealing in securities and derivatives as principal and agent at MUR 1,000,000 unimpaired capital. With the FSC's officer, auditor and governance criteria built in.
- ✓Dealing as principal and agent
- ✓MUR 1,000,000 unimpaired capital
- ✓Two full-time officers in Mauritius
- ✓FRC-approved auditor
- ✓US$750 processing · US$2,500 annual
- ✓The tier global FX brokers take
02 - BROKER · DISCOUNT BROKER
MUR 600k-700k capitalThe intermediation tiers
Execution and intermediation without principal dealing: the broker tier at MUR 700,000 and discount broker at MUR 600,000. The same FSC stamp for agency models at a lighter balance sheet.
Broker MUR 700k / discount broker MUR 600k for agency models; same FSC stamp; upgrade path to full service.
- ✓Broker - MUR 700,000 capital
- ✓Discount broker - MUR 600,000
- ✓Agency execution models
- ✓Same FSC supervision
- ✓Upgrade path to full service
- ✓Same substance criteria
Costs and timelines are confirmed for your case before any work begins. FSC fees follow the consolidated fees rules; capital, officers and substance costs are itemised in your quote.
Why Mauritius
Offshore economics, onshore handshake.
Mauritius charges more diligence than the islands and less capital than the onshore world, and banks accordingly.
✓
MUR 1M full-service capital
Roughly US$22,000 of unimpaired capital licenses principal dealing. The lowest credible entry to a dealer licence with treaty-network standing.~US$22k licenses dealing.
✓
3% effective tax
Licensed investment dealers sit expressly in the 80% partial-exemption regime: 15% headline becomes 3% effective on qualifying income, with substance.80% exemption, express.
✓
Treaty-network standing
A genuine DTA network and a Global Business framework banks recognise. The licence contracts and banks above its price tier.Banks above its tier.
✓
Concrete, published criteria
Two resident officers, FRC auditor, directorship rules, published fees. The FSC's checklist is knowable in advance and buildable.Knowable, buildable.
✓
FATF-clean jurisdiction
Mauritius exited the FATF grey list in 2021 and has held standards since. Diligence conversations start from yes.Since 2021, held.
✓
Africa-Asia corridor seat
The historic financial bridge between African, Indian and Asian flow. The natural book for a dealer serving those corridors.Africa-India-Asia.
How it compares
How Mauritius differs from other routes.
Numbers next to numbers: more substance than the islands, more standing than their price. The middle that works.
Mauritius vs other jurisdictions
| Feature |  Mauritius | Other jurisdictions |
|---|---|---|
| Regime | Securities Act 2005 - FSC | MiFID desks or offshore |
| Capital | MUR 1M (~US$22k) | US$0-2M spread |
| Standing | Treaties · FATF-clean | Varies to none |
| Tax | 15% · 3% effective | 0-30% spread |
Regime
MauritiusSecurities Act 2005 - FSC
Other jurisdictionsMiFID desks or offshore
Capital
MauritiusMUR 1M (~US$22k)
Other jurisdictionsUS$0-2M spread
Standing
MauritiusTreaties · FATF-clean
Other jurisdictionsVaries to none
Tax
Mauritius15% · 3% effective
Other jurisdictions0-30% spread
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| Mauritius | FSC Investment Dealer | 15% · 3% effective | MUR 1M, 2 local officers |
 Seychelles | FSA Securities Dealer | 15%/25% · source-based | US$50k capital |
 Vanuatu | VFSC Financial Dealer | No corporate income tax | VT 5M deposit |
 Labuan | Money broking licence | 3% of audited profits | RM1M, intermediary only |
MauritiusLicense typeFSC Investment Dealer
Taxation15% · 3% effective
RequirementsMUR 1M, 2 local officers
SeychellesLicense typeFSA Securities Dealer
Taxation15%/25% · source-based
RequirementsUS$50k capital
VanuatuLicense typeVFSC Financial Dealer
TaxationNo corporate income tax
RequirementsVT 5M deposit
LabuanLicense typeMoney broking licence
Taxation3% of audited profits
RequirementsRM1M, intermediary only
Before you apply
Requirements for the Mauritius licence.Requirements for the licence.
The FSC's licensing criteria are published and specific. The checklist below is what a passing application contains.
01
Mauritian company. Domestic or Global Business Company, structured for the licence.
02
Unimpaired capital. MUR 1,000,000 for the full-service tier, fully paid; GBCs undertake to credit it within one month of licensing.
03
Two resident officers. Based full time in Mauritius and conversant with investment-dealer operations.
04
Compliant directors. CVs, personal questionnaires and the FSC's directorship circular satisfied for each.
05
FRC-approved auditor. With the signing partner registered with the Mauritius Institute of Professional Accountants.
06
Registered office. A real Mauritius address with the corporate records maintained there.
07
Business plan. The dealing model, target corridors and three-year financials the FSC can interrogate.
08
Client money arrangements. Segregation and reconciliation designed before launch.
09
AML/CFT framework. KYC, screening and reporting under FIAMLA, with a named MLRO.
10
Substance for tax. The CIGA, staffing and expenditure that keep the 80% partial exemption available.
01
Mauritian company or GBC.
02
MUR 1M unimpaired capital.
03
Two resident officers.
04
Circular-compliant directors.
05
FRC-approved auditor.
06
Registered office, records.
07
Interrogable business plan.
08
Client money designed.
09
AML with named MLRO.
10
Substance for the 3%.
Reflects the Securities Act 2005, the Securities (Licensing) Rules 2007 and FSC licensing criteria as of 2026.Securities Act 2005 + Licensing Rules 2007, as of 2026.
How it works
From first call to the FSC register.
01
Tier and structure
Full service or broker tier, domestic or GBC. Fixed in writing before any drafting.Fixed in writing.
02
Company and people
Incorporation, capital plan and the resident officers and directors the FSC assesses.Officers, directors, auditor.
03
The application file
Business plan, criteria pack and appointments. Complete at filing with the US$750 processing fee.Complete, US$750 fee.
04
FSC review
Question rounds answered - 4-8 months realistic end to end.4-8 months realistic.
05
Licence and launch
Register entry, US$2,500 annual fee on calendar, banking live. The corridor book opens at 3% effective.3% base, corridors open.
Quick facts
RegulatorFSC Mauritius
Full service capitalMUR 1,000,000
Broker tierMUR 700,000
Processing feeUS$750
Annual feeUS$2,500
Resident officers2 full-time
Realistic timeline4-8 months
Effective tax3% qualifying
The FSC works from published criteria. Building to the checklist before filing is the entire schedule strategy, and our job.
On the ground in Mauritius
Run from our Port Louis office.
Prifinance - Mauritius
Port Louis · Mauritius
Port Louis, Mauritius
01
Company and GBC structuring
Incorporation or Global Business licensing, capital structuring and the corporate layer the FSC expects. Built for the licence from day one.Domestic or GBC, built right.
02
The FSC file
Business plan, licensing criteria pack, officer and auditor appointments. Drafted end to end and defended through the rounds.Criteria-complete.
03
Officers and substance
The two resident officers sourced and prepared, with the substance that satisfies both the FSC and the partial-exemption tests.Sourced locally.
04
Banking and corridors
Introductions to the banks that serve Mauritian dealers across the Africa-Asia corridor. Sequenced with the licence.Corridor introductions.
We also have offices in
Tallinn
Estonia
Roseni 13
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
Dubai
UAE
33 Level, Al Saqr Business Tower
London
United Kingdom
7 Bell Yard
Madeira
Portugal
Rua da Alegria 31, 1F
Istanbul
Turkey
Perpa Ticaret Merkezi, A Blok
Good to know
Taxation of forex brokers in Mauritius.
A 15% headline that resolves to 3% for licensed dealers with substance. The quiet star of the regime.
Corporate tax 15%
The standard rate. Flat, familiar and treaty-backed, before the exemption regime does its work.Flat, treaty-backed.
80% partial exemption
Income derived by an investment dealer licensed by the FSC qualifies expressly - 80% exempt, 3% effective, conditional on real substance in Mauritius.Dealers expressly in.
Substance conditions
Core income-generating activities, adequate qualified staff and proportionate expenditure in Mauritius. The same investment the FSC's officer rules already require.CIGA, staff, spend.
No capital gains tax
Mauritius levies no capital gains tax. Exits and restructurings stay clean.Clean exits.
No dividend withholding
Dividends flow without Mauritian withholding. Clean distribution on top of the 3% effective base.Clean distribution.
Treaty network 40+
A genuine DTA network across Africa, India and Asia. The corridors a Mauritian dealer actually serves.The right corridors.
Tax summary
Corporate tax15%
Effective - qualifying3%
Capital gains taxNone
Dividend withholdingNone
Tax treaties40+
*Figures as of 2026 per the MRA. The partial exemption is substance-conditional. Modelled per structure.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the application file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: Mauritian company, AML/KYC policy pack, capital structure and tax registrations. His document sets are the reason reviews finish in months, not years.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a live, licensed dealer.
Follow Prifinance
Active across our channels.
Mauritius · FSC
Launch your forex project in Mauritius with expert support.
Full-service assistance - from incorporation to the Investment Dealer licence, resident officers, substance and ongoing compliance - run through our Port Louis office.
Get a consultation →Free legal opinion
Is Mauritius the right fit for your project?
Our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.
Written assessment within 2-5 business days
Request a free conclusion →FAQ
The Mauritius forex licence: the practical answers.
What licence does a forex broker need in Mauritius?+
The Investment Dealer licence from the FSC under the Securities Act 2005 - for FX brokers, the Full Service Dealer (excluding underwriting) tier, which covers dealing as principal and agent in securities and derivatives.
What capital is required?+
MUR 1,000,000 minimum stated unimpaired capital for the full-service tier (about US$22,000), fully paid - with the broker tier at MUR 700,000 and discount broker at MUR 600,000 for agency-only models. Underwriting raises the bar to MUR 10,000,000.
What does the licence cost?+
Published FSC fees: US$750 processing and US$2,500 annual (or the rupee equivalents). The real budget items are the two resident officers, the FRC-approved auditor and substance - itemised in your quote.
What local presence is required?+
Two officers based full time in Mauritius who are conversant with investment-dealer operations, a registered office, directors satisfying the FSC's circular, and an FRC-approved auditor - concrete, published, buildable.
How is the 3% effective tax rate achieved?+
Licensed investment dealers are expressly within the 80% partial-exemption regime: 15% headline on 20% of qualifying income = 3% effective - conditional on core income-generating activities, qualified staff and proportionate expenditure in Mauritius. The FSC's own officer requirements carry most of that substance.
How long does licensing take?+
Realistically 4-8 months end to end including company formation, officer appointments and the FSC's question rounds - a criteria-complete first filing is the speed lever.
Can a Mauritian dealer serve EU or UK retail?+
Not under ring-fenced retail rules - those markets need their own licences. The Mauritian book serves Africa, Asia, the Middle East and B2B flow; groups pair it with onshore licences where needed, and we structure both ends.
What is the banking experience like?+
Better than the price tier suggests: the treaty network, FATF-clean status and Global Business familiarity mean banks across the corridor know what a Mauritian investment dealer is. We sequence introductions with the licence.
Mauritius or the Seychelles?+
Seychelles is cheaper and faster; Mauritius carries more standing and the 3% effective rate. Brokers optimising for banking and treaties choose Mauritius; those optimising entry cost choose the SDL. We model both against your corridors.
Why Prifinance for Mauritius?+
A Port Louis office, the FSC's criteria built into our templates, officers and substance sourced locally, and the tax structuring - licence and 3% regime - delivered as one programme.
What licence?+
FSC Investment Dealer - full service.
Capital?+
MUR 1M unimpaired.
Cost?+
US$750 + US$2,500/year.
Local presence?+
2 officers, office, auditor.
3% how?+
80% exemption + substance.
How long?+
4-8 months realistic.
EU retail?+
No - corridor book.
Banking?+
Above its price tier.
Or Seychelles?+
Standing vs cost - we model.
Why you?+
Licence + 3% as one build.
Client notes
Google4.7★★★★★
Founders who wanted it done right.
Google4.7★★★★★
“As a software development crew at FewMoreTaps OÜ, we've had the pleasure of working with Prifinance on some key financial moves.First of all, navigating the world of corporate banking and finance can be a maze, but Prifinance made it feel like a walk in the park. They helped us set up a corporate bank account without the hassle of jumping on a plane or drowning in paperwork. Everything was done remotely, smoothly…”
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Google
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Prifinance is an independent law and advisory firm. We are not a regulator and are not affiliated with, endorsed by, or acting on behalf of the Financial Services Commission of Mauritius (FSC) or any other public authority. Authorisations are granted by, and obtained directly from, the competent authorities.