Main advantages of a Forex license in Mauritius

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, given that the attitude to investors is positive. The jurisdiction is politically and economically stable.

Other advantages:

  • 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 the 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 first obtain a GBL1 document.

A company with this permit may carry out permitted work, such as foreign exchange transactions and 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 license 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, trade securities as principal, as well as 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 and 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 are 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.

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