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Financial Services Commission (FSC) Licensing
A robust offshore licensing framework is essential for financial institutions aiming to expand their services to a global client base.
The Financial Services Commission (FSC) is the integrated regulator responsible for the licensing, supervision, and development of the non-bank financial services sector in Mauritius. Operating under the Financial Services Act, the FSC provides a well-established and internationally recognized regulatory environment.
The Mauritius Investment Dealer License provides a strategic regulatory framework for firms seeking to operate as Forex and CFD brokers, execute trades, and provide brokerage services to clients across international markets. License holders may act as principal or agent, enabling them to enter online financial transactions on various financial instruments
Deneo Partners is licensed by the FSC and brings significant expertise in assisting requirements and maintains an efficient approach client with obtaining licenses in Mauritius. Our team has a strong knowledge and experience of FSC to navigating the application process. With our local office presence in Mauritius, we support clients at every stage, from company setup to license approval, ensuring full compliance with all regulatory requirements.
Requirements:
- Minimum initial capital of MUR 1,000,000 (c.$25,000)
- Minimum of 3 Directors where 2 shall be non-executive Directors, resident in Mauritius
- Investment Dealer Team of 2 persons
- Compliance and MLRO
- Deputy Money Laundering Compliance Officer
- Auditor for statutory financial statements
- Professional Indemnity Insurance
Deneo Partners licensing services:
*Application timeframe is up to 6 months from application submission
Compliance Services
You can engage Compliance and AML support services through qualified professionals of Deneo Partners (Mauritius).
As per the requirements of the Financial Services Commission, all licensees are required to appoint a Compliance Officer and a Money Laundering Reporting Officer (MLRO) who meet the prescribed “fit and proper” criteria and possess relevant experience.
It is a requirement by the Financial Services Commission for license applicants and licensees to maintain an effective compliance and AML framework. While the Compliance function may be supported through outsourced service providers, the MLRO must be formally appointed and remain responsible for AML/CFT obligations in accordance with applicable laws.
Deneo Partners can assist in providing compliance support services and facilitate the appointment of a qualified Compliance Officer, in line with regulatory expectations.
Some of the functions to be offered as part of our compliance services include:
- Ensure compliance with applicable laws, regulations, and FSC directives
- Oversee the implementation of internal policies and procedures
- Act as liaison and communicate with the Financial Services Commission and other competent authorities
- Ensure all reporting deadlines are met, and relevant filings are submitted to the regulator or other authorities
- Provide compliance and AML/CFT advisory support
- Assist in identifying and managing compliance risks
- Disclose to the Licensee any developments that may have a material impact on the effective performance of the outsourced functions
- Cooperate with the regulator and any other relevant competent authority in connection with compliance-related matters
Serviced Offices
We assist clients in establishing a serviced office in Mauritius, as it is a requirement by the Financial Services Commission for licensees to demonstrate local presence and substance.
We support the sourcing and setup of suitable premises that meet regulatory expectations for the operations of the company, as well as for maintaining books and records in Mauritius. The office must be appropriate to the nature and scale of the licensed activities and accessible for regulatory purposes.
FSC Requirements
- Maintain a physical office presence in Mauritius
- Records to be accessible and available through Mauritius.
- Ensure the office is suitable for conducting licensed activities
- Allow access to the Financial Services Commission for inspection and regulatory purposes
About Mauritius
A leading international financial centre in the Indian Ocean.
The Mauritius has established itself as a reputable jurisdiction for financial services firms seeking to access global markets and set up a well-regulated international business.
An island nation located off the southeast coast of Africa, Mauritius serves as a strategic gateway between Africa, Asia, and the Middle East, benefiting from strong economic ties and an extensive network of double taxation treaties.
Its capital, Port Louis, is the country’s main financial and commercial centre.
In addition to its natural beauty, Mauritius offers political and economic stability, a robust legal framework based on English and French law, a highly skilled bilingual workforce, and a well-regulated financial services sector, making it an attractive destination for investors and financial institutions seeking long-term growth.
Geography
- Strategic location between Africa and Asia
- Well-connected by air through an international airport
- Stable tropical climate
- Convenient time zone (GMT +4)
- Positioned as a gateway for investment into Africa
Economy
- Diversified economy driven by financial services, tourist, manufacturing
- National currency is Mauritian Rupee (MUR)
- Recognized international financial centre regulated by the Financial Services Commission
- Extensive network of double taxation avoidance agreements
- Competitive corporate tax regime (effective rates may be reduced through incentives)
- Stable banking sector and strong regulatory framework
Culture
- Highly educated, bilingual (English and French) workforce
- Modern infrastructure and well-developed financial services ecosystem
- High standard of living with good healthcare and education
- Well-developed professional services (legal, corporate, banking)
- Wide range of residential and commercial real estate options
