Main advantages of a Forex license in Mauritius
Obtaining a Forex license in Mauritius is relevant because the jurisdiction is universal for different types of businesses. It is possible to register a company, a fund or a trust, open an account and obtain a broker's license. There is an opportunity to profitably optimize taxation.
Advantages of licensing
There are many advantages to registering a Forex license in Mauritius in 2021. It is easy enough to do business in the territory, the attitude to investors is positive. The jurisdiction is politically and economically stable.
- The possibility of foreign ownership of the company;
- Minimal corporate tax;
- No currency controls;
- Avoidance of double taxation agreements;
- Wide range of financial services.
Large international and private financial organizations are represented in the territory. It is possible to open personal as well as corporate, current or investment account. Contact our specialists at IT-OFFSHORE to clarify nuances of bank account opening.
Types of documents
The lack of taxation makes Mauritius an optimal territory for investors from other countries. A prospective licensee should firstly obtain a GBL1 document.
A company with this permit may carry out permitted work - foreign exchange transactions, collection of funds. To be issued, it is necessary to provide proof of doing business outside the territory. After that, other types of licenses can be used to carry out brokerage activities.
A full licence allows you to act as an intermediary in securities transactions, trade, sign, advise on investments and manage client portfolios.
A dealer's license allows you to act as an intermediary in securities transactions, to trade securities as principal, and to advise and manage portfolios. The Investment Dealer Broker's authorization allows you to execute client instructions, manage client portfolios, and provide consultation.
Terms of processing
A company that plans to apply for a license must have 2 directors with experience in finance, 2 directors with residency status in the territory. There is a need to perform audits, file and retain financial statements. An office and account with a local financial institution is mandatory.
Individuals must provide background and identification information, bank references and letters of recommendation. Entities provide incorporation information, director information, and statements. In addition, a business development plan is required. The regulator may ask for other documents.