Eternity Law International — News — Forex license Mauritius 2023

Forex license Mauritius 2023

Published:
December 22, 2022

The Republic of Mauritius is a leading tax haven in terms of effectiveness, development, and scope of investing offers. If you decide to receive your licenses here, you will have virtually no limits on how you decide on marketing to your customers and how much you charge them for your services. The country is 2nd only to the EU in terms of strength among 2nd-tier licenses. Even while going offshore can have some issues, if you decide on this jurisdiction for getting a Mauritius forex broker license, you can bypass a lot of the trouble caused by EU rules and run your undertaking smoothly.

Benefits of Forex License on Mauritius

Both newly-established and experienced FX brokerage firms are focusing on Mauritius as leverage restrictions spread across Europe and significant regulatory changes are under way in Australia. Increased leverage flexibility, competitive capital obligations, and tax effectiveness are just a few of the factors contributing to the country’s rise in popularity in recent years. Benefits of getting a license are as follows:

  • Absent government-imposed limitations on the purchase and/or sale of currencies;
  • All your data provided to the FSC or the Commercial Registrar, meaning a high level of confidentiality.
  • Your business will be free from taxes as it is foreign; 
  • Only money laundering reporting/compliance specialists, and non-executives must be local, so you can manage your firm from any place in the globe.

Regulative Mechanisms and Forex 

The FSC regulates all monetary operations associated with FX & CFD trading in the country. As for the range of pairs that can be traded and the advisory services given to their clientele, FX firms are largely unlimited, which can ensure a plethora of opportunities. If you choose to get licensed, you will be allowed to administrate your clients’ CFD and FX portfolios, provide advisory services, carry out fin. operations on their behalf and buying/selling tradable financial assets as principals with the goal of selling them to individuals.

Brokerage license on Mauritius: Terms

  • Price: a one-time paying of 30,000 EUR; 
  • Service fees are based on your specific needs; 
  • There must be a local office.
  • No limitations on IBs, PAMM/MAM accounts, or leverage.
  • The Mauritian Rupee (MUR), which serves as the country’s official currency, is used for all financial operations within the country.
  • A minimum of 2 directors is needed. 
  • While each application must be evaluated individually, the typical approval duration is between 6 and 8 months.

How Does It Work to Obtain an Investment Dealer License in Mauritius?

In order to start the procedure of getting a license, our lawyers will need to gather some basic data about your firm and senior management. The first step is choosing an organization name and moving through with the incorporation of a GBL1 business after receiving all the necessary paperwork. Once the firm has been formed successfully, we will move on to the application. We’ll keep your firm informed of all developments during the application process and swiftly go over any clarifications or paperwork the FSC might need. We’ll start the process of opening a bank account once the license has been approved. If you want to speed up the processes, you may obtain a ready-made FX license or consider a FX license for sale in Mauritius. As our offers vary based on availability in the markets, it is best to contact us directly to discuss them in detail. 

Can you trade forex in Mauritius?

The FX trade is completely legit there. Moreover, brokerage firms are supervised by one of the most reputable offshore bodies in the sector – the FSC.

How much does a Mauritius forex license cost?

Initially, contingent on the chosen authorization, only $30,000 is mandatory. The cost and length of time required to earn the license are comparable to those at Level B locations. After the necessary paperwork is submitted to the FSC, it takes roughly six to eight months until the license is issued, costing between $30,000 and $50,000 for legal fees.

How do you get a forex trader license?

To acquire a license, an applicant should pass the following steps: 
1. regularizing corporate documents; 
2. registering the company as a legal entity; 
3. paying state fees; 
4. creating a business strategy; 
5. putting in place the required AML/KYC procedures; 
6. opening a business bank account; 
7. activating the merchant account; 
8. requesting a license from the relevant organization.

You can see our current offers in the categories “Cryptocoins and licensing of cryptocurrency operations”, “Ready-made companies”, “Banks for sale” and “Licenses for sale”.

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