Brokers serving international clients from an established Indian Ocean financial centre choose Mauritius for a statutory grant period once the file is complete and a category written for OTC trading.
Selected engagements from more than 250 licences obtained since 2013, for payment, e-money, cryptoasset and consumer credit firms.
Volkswagen
Payment InstitutionObtained Nexpay’s FCA Authorised Payment Institution licence.
Electronic Money InstitutionObtained Dzing Finance’s FCA Authorised Electronic Money Institution licence.
Obtained Orbital’s FCA Authorised Payment Institution licence.
Our realistic timeline from submission, set against the regulator’s own published figures.
Client money and liquidity provider accounts arranged alongside the application, so you trade on authorisation.
Candidates introduced for two resident directors, a compliance officer and MLRO, each assessed against the regulator’s standard.
A reply within three business hours and a written proposal the same day: the licence, the requirements, the cost and the timing.
You will need two directors living in Mauritius, a dealing team of two, a compliance officer, and an MLRO and deputy MLRO independent of the board.
One engagement and one timetable, from scoping to launch. Speak to an expert about the people, the banking and the technology for this licence.
The regulator’s requirements, capital, timing, fees and the questions firms ask, from the regulator’s own publications.
Any person acting as intermediary in the execution of securities transactions for clients, trading as principal with the intention of reselling to the public, giving investment advice ancillary to those activities or managing client portfolios needs an investment dealer licence under section 29 of the Securities Act 2005. Forex and CFD brokers are licensed as full service dealers (excluding underwriting); the FSC’s licensing criteria for the category expressly cover OTC trading, liquidity providers, third-party execution and trading platforms. A business conducted principally outside Mauritius holds the licence through a global business company, filed through a licensed management company; a domestic company may file directly on FSCOne.
| Category | Activities | Minimum capital | Processing and annual fee (global business) |
|---|---|---|---|
| Full service dealer (including underwriting), SEC-2.1A | Full dealing including underwriting | MUR 10,000,000 | US$3,000 / US$9,500 |
| Full service dealer (excluding underwriting), SEC-2.1B | Execution, principal dealing, advice and portfolio management; the forex and CFD category | MUR 1,000,000 | US$1,000 / US$3,400 |
| Broker, SEC-2.2 | Execution, portfolio management and advice | MUR 700,000 | US$700 / US$2,700 |
| Discount broker, SEC-2.3 | Execution only | MUR 600,000 | US$300 / US$2,000 |
Commodity and currency derivatives segments (SEC-2.8 and SEC-2.9) and foreign investment dealer categories (SEC-5.1 and SEC-5.2) exist for derivatives. Representatives are licensed under SEC-2.6A to SEC-2.6F, at US$200 processing and US$800 a year, and may act for one dealer only.
| Requirement | Amount |
|---|---|
| Full service dealer (excluding underwriting) | MUR 1,000,000 |
| Full service dealer (including underwriting) | MUR 10,000,000 |
| Broker | MUR 700,000 |
| Discount broker | MUR 600,000 |
| Professional indemnity insurance | Cover stated in the application with an insurer’s quotation |
Capital is stated unimpaired capital, fully paid, under Rule 14 and the Fourth Schedule of the Securities (Licensing) Rules 2007; a global business company evidences the share proceeds within one month of licensing.
| Figure | Value | Source |
|---|---|---|
| Statutory decision period | 10 working days, about 0.5 month, from the date the application is determined complete; no deadline for the completeness determination | Financial Services Act 2007, section 17B |
| Regulator’s published figure | No published average; the FSC states the timeframe depends on the completeness of the application, with queries issued in rounds and a 15-day reply window for each | FSC licensing FAQs and completeness guidelines, December 2024 |
| Application preparation | 6 to 8 weeks | From instruction to submission, including banking in parallel |
| Our realistic timeline | 3 to 5 months after submission, as completeness is settled through rounds of queries before the statutory period starts | The firm’s own figure, from the regulator’s published data and its own applications |
Figures published by the regulator are quoted as published and converted to months. The realistic timeline is the firm’s own, for a complete, well-prepared application.
| Item | Amount | Notes |
|---|---|---|
| Processing fee | US$1,000 | Global business company; MUR 7,500 for a domestic company; fee rules as at 1 July 2026; forfeited if the application is deemed withdrawn |
| Fixed annual fee | US$3,400 | Global business company; MUR 75,000 for a domestic company; not payable at submission |
| Global business licence | US$600 | Processing; US$2,600 a year due 1 July, pro-rated by quarter in the first year |
| Representative licence | US$200 | Processing; US$800 a year |
| Older figures in the FSC licensing criteria | US$750 / US$2,500 | The criteria document still shows the earlier processing and annual fees; the fee rules as at 1 July 2026 apply |
| Minimum capital | MUR 1,000,000 | Full service dealer excluding underwriting |
| Professional fees | Fixed, in writing | Quoted after scoping |
The licence is Mauritian; there is no passport. The applicant undertakes to obtain the approvals required in every jurisdiction where its clients are located, and the FSC looks for that undertaking in the application. Brokers use the Mauritius licence for international clients alongside an EU or UK authorisation for European clients; the firm obtains each.
The FSC publishes what it looks for and what slows an application. It grants only where satisfied that the applicant complies with the law and the licence criteria, has adequate resources, infrastructure and competent staff, has adequate supervision arrangements, is fit and proper together with its controllers and beneficial owners, can meet prudential standards and will not prejudice the financial services industry. Its FAQs list the causes of delay after submission: an unsatisfactory business plan, incomplete customer due diligence, uncertified documents, a missing date on a utility bill, confusion between target sector and target market, and inconsistencies between FSCOne data and the due diligence or business plan. A query unanswered within 15 days deems the application withdrawn with the processing fee forfeited; false or misleading statements carry a fine of up to MUR 500,000 and five years’ imprisonment.
A global business company keeps its principal bank account in Mauritius at all times, and a dealer needs segregated client money accounts, an operating account and settlement accounts in the currencies it serves, with liquidity provider and platform agreements in place and evidenced in the application. Banks and liquidity providers review the licence category, the substance in Mauritius, the client money measures and the financial crime framework before onboarding. The firm arranges each through institutions that serve licensed dealers in Mauritius, in parallel with the application, so the firm trades on licensing. See banking and payment processing.
The FSC grants within 10 working days of determining the application complete; the completeness determination has no deadline and runs through rounds of queries, each with a 15-day reply window. The firm plans for three to five months after submission.
Full service dealer (excluding underwriting), SEC-2.1B, with MUR 1,000,000 of capital; the FSC’s criteria for this category expressly address OTC trading, liquidity providers and trading platforms.
Yes, where the business is conducted principally outside Mauritius: the application is made through a licensed management company for a global business licence. A domestic company files directly on FSCOne.
For a global business company: at least two resident directors able to exercise independent judgment, the principal bank account in Mauritius, accounting records at the registered office, accounts audited in Mauritius, and a substance compliance plan.
US$1,000 processing and US$3,400 a year for the dealer licence, plus US$600 and US$2,600 for the global business licence, as at 1 July 2026; MUR 7,500 and MUR 75,000 for a domestic company.
A regulatory advisory firm to payment, e-money and cryptoasset companies since 2013, with more than 250 licences obtained in more than 60 countries. The firm advises on authorisation, compliance, safeguarding, banking and transactions, and builds the white-label payment and card technology its clients launch on.
A written proposal on cost, timing and requirements, the same day: speak to an expert.
This guide is general information for firms considering authorisation and is reviewed against the regulator’s published requirements. It is not legal advice; requirements and fees change, and the regulator’s current publications take precedence.
The requirements, the cost and the timing for your business, in a written proposal the same day.