FSC — Financial Services Commission

Mauritius FSC
Investment Dealer Licence

Mauritius is one of the most respected offshore financial centres globally, offering FX and CFD brokers a credible, IOSCO-aligned regulatory framework with access to an extensive international treaty network.

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RegulatorFSC Mauritius

Licence TypeInvestment Dealer

Typical Timeline3 – 6 months

Entity RequiredGlobal Business Company (GBC)

Overview

Why Mauritius for FX Licensing?

Mauritius has established itself as a premier international financial centre, combining a well-regulated environment with genuine commercial attractiveness. The Financial Services Commission (FSC) is a respected IOSCO member, and the jurisdiction maintains strong cooperative relationships with regulators worldwide — including the EU.

For FX and CFD brokers, the Investment Dealer framework provides a structured, tiered licensing path that can be matched to your exact business model — whether you operate as a pure execution broker, a full-service dealer, or something in between.

Mauritius's extensive network of Double Taxation Agreements makes it particularly attractive for brokerages structuring cross-border operations, and its strategic position as a gateway to African and Asian markets adds further commercial appeal.

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Strong International Reputation

The FSC is an Ordinary Member of IOSCO and Mauritius does not appear on the EU list of non-cooperative jurisdictions, giving your brokerage credibility in global markets.

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Extensive Treaty Network

Mauritius has double taxation agreements with approximately 45 countries, offering significant advantages for structuring cross-border operations.

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Access to African Markets

Mauritius is strategically positioned as a gateway jurisdiction for brokers targeting African and Asian client bases.

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Tiered Licensing Structure

The FSC offers multiple Investment Dealer tiers — from Discount Broker to Full Service Dealer — allowing you to match the licence to your exact business model.

Requirements

Key Licensing Requirements

The FSC applies a comprehensive fit and proper assessment. These are the principal requirements for an Investment Dealer application.

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Global Business Company (GBC)

The applicant entity must be incorporated as a Global Business Company (GBC) through a licensed Mauritius Management Company.

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Resident Directors

A minimum of two directors are required, with at least two being resident in Mauritius and meeting FSC fit and proper criteria.

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Local Substance

The company must demonstrate genuine local substance — including a registered office and meaningful operational presence in Mauritius.

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MLRO Appointment

A Money Laundering Reporting Officer (MLRO) must be appointed and approved by the FSC as part of your AML/CFT framework.

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Business Plan

A comprehensive business plan covering your operational model, target markets, risk management, and compliance framework is required.

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AML/CFT Framework

Robust Anti-Money Laundering and Counter-Financing of Terrorism policies, procedures, and controls must be in place before licensing.

How Turmic LLC Gets You Licensed

Initial Assessment

We review your business model, structure, and target markets to determine the appropriate Investment Dealer tier and preparation required.

GBC Incorporation

We coordinate the incorporation of your Global Business Company (GBC) through a licensed Mauritius Management Company.

Compliance Framework

We build your AML/CFT policies, appoint your MLRO, and draft the required operational documentation.

Application Preparation

We prepare and review the full FSC application package — business plan, director documentation, and supporting materials.

FSC Submission & Review

We submit your application and manage all correspondence with the FSC throughout the review process.

License Issuance

Upon approval, we support your operational setup and ongoing compliance obligations as a licensed entity.

Frequently Asked Questions

What is a Global Business Company (GBC)?

A GBC is a Mauritius company licensed under the Financial Services Act, designed for businesses conducting activities primarily outside Mauritius. It is the required entity type for FSC-licensed Investment Dealers and benefits from Mauritius's treaty network.

What types of activities can an Investment Dealer licence cover?

Depending on the tier, an Investment Dealer licence can cover executing trades on behalf of clients, acting as principal or market maker, providing investment advice, and managing client portfolios. The appropriate tier depends on the scope of your brokerage activities.

How long does the FSC application process take?

From submission of a complete application, the FSC review typically takes 3 to 6 months. Thorough preparation of documentation — particularly the business plan and AML framework — is the most effective way to minimise delays.

Is a physical office in Mauritius mandatory?

Yes. The FSC requires genuine local substance, which includes a physical registered office and meaningful operational presence. Remote-only setups do not satisfy the substance requirements.

Can I operate globally with a Mauritius Investment Dealer licence?

A Mauritius FSC licence allows you to solicit and serve clients internationally, subject to the laws of your clients' home jurisdictions. Many jurisdictions accept Mauritius as a recognised regulatory framework, though you should always verify local market access rules.

What are the minimum capital requirements for an Investment Dealer licence?

The FSC sets minimum stated unimpaired capital requirements by tier under the Securities (Licensing) Rules 2007 (Fourth Schedule): Investment Dealer (Discount Broker) — MUR 600,000; Investment Dealer (Broker) — MUR 700,000; Investment Dealer (Full Service Dealer, excluding underwriting) — MUR 1,000,000; Investment Dealer (Full Service Dealer, including underwriting) — MUR 10,000,000. The capital must be fully paid up with no amounts due or payable. The tier you apply for — and therefore the applicable minimum — depends on the scope of your intended brokerage activities.

Ready to Apply for Your Mauritius FSC Licence?

Our team has deep experience with FSC applications and regulator expectations. We prepare your application correctly the first time — minimising delays and maximising your chances of approval.