For companies planning to engage in foreign exchange, contracts for difference (CFDs), securities order execution, portfolio management, or investment advice businesses, the Mauritius FSC Investment Dealer license is one of the more sought-after international financial regulatory pathways.
The English name of the Financial Services Commission of Mauritius is:
Financial Services Commission, Mauritius, abbreviated as FSC Mauritius.
Investment Dealer is usually translated as:
- Investment dealer;
- Investment brokers;
- Securities dealers;
- Mauritius forex license;
- Mauritius securities brokerage license.
The term "Investment Dealer" is often used in the market to refer to a "Mauritius Forex License," but in reality, the license is divided into several categories.
The types of businesses that can be conducted, the minimum capital requirements, the qualifications of personnel, and the official fees are not the same.
Before applying, companies need to clarify the following:
- Do you only execute customer orders?
- Do you provide investment advice?
- Do you manage client portfolios?
- Whether to underwrite securities independently;
- Whether to engage in derivatives business;
- Whether to act as a counterparty in a client's transaction;
- Whether or not customer funds have been accessed or held;
- Is it targeted at retail customers?
- Whether to use a foreign exchange, CFD, or securities trading platform.
Are you evaluating a Mauritius FSC license?
Submit your trading model, product type, customer location, and fund flow, and Kovis can assist in initially determining the appropriate Investment Dealer category and project budget.
1. What is the Mauritius FSC Investment Dealer?
Investment Dealer is a securities market intermediary license issued by FSC Mauritius in accordance with the Mauritius Securities Act 2005 and related securities licensing rules.
Depending on the license category, an Investment Dealer may be granted the following permissions:
- Execute securities transactions on behalf of clients;
- Receive and deliver customer orders;
- Acting as a broker to arrange securities transactions;
- Provide investment advice related to securities trading;
- Managing clients' securities portfolios;
- Operating derivatives trading services;
- Participating in securities placements or underwriting;
- Provide related ancillary financial services.
The specific business activities that a company can ultimately conduct are subject to the license categories, business plans, and additional conditions approved by the FSC.
Investment Dealer is not automatically equivalent to:
- Banking license;
- Payment license;
- Electronic money license;
- Globally accepted foreign exchange license;
- Digital asset trading license;
- Fund management license;
- Permission to hold client funds without restriction.
If a company also provides payment, fund, digital asset or other financial services, it may need additional licenses or approvals.
Official basis:
FSC Mauritius: Licensed Activities
FSC Mauritius: Securities Licensing Rules 2007
II. What are the categories of Investment Dealers in Mauritius?
The common categories of Investment Dealers currently include the following.
1. Full Service Dealer, including underwriters
The English name is:
Investment Dealer (Full Service Dealer including Underwriting)
This category can typically be:
- Execute securities transactions on behalf of clients;
- To conduct transactions as the person in charge;
- Resale securities;
- Underwriting or distributing securities issuances;
- Provide relevant investment advice;
- Manage client portfolios.
Because it includes securities underwriting, its capital requirements and official fees are relatively high.
2. Full Service Dealer, excluding underwriting
The English name is:
Investment Dealer (Full Service Dealer excluding Underwriting)
This is one of the more frequently discussed categories in international foreign exchange, CFD, and securities brokerage projects.
It may carry out:
- Securities trading intermediaries;
- Customer order fulfillment;
- Securities trading arrangements;
- Securities investment advice;
- Client portfolio management;
- Related brokerage services.
However, it cannot conduct securities underwriting business that requires "including underwriting" authority.
3. Investment Dealer Broker
The Broker category is primarily suitable for organizations that provide the following services:
- Fulfill customer orders;
- Managing client portfolios;
- Provide securities trading advice to clients.
Companies need to clearly state in their applications which business(s) they plan to conduct.
4. Discount Broker
Discount brokers typically only allow:
- Execute client securities orders.
This category is generally not suitable for providing both investment advice and portfolio management.
5. Investment Dealer Derivatives
This category primarily involves derivatives trading.
If a company's core products include:
- Foreign exchange derivatives;
- Contracts for Difference (CFDs);
- futures;
- Options;
- Other derivative financial instruments;
It is important to evaluate Investment Dealer Derivatives, or other applicable Full Service Dealer permissions.
The specific choice needs to be made based on the company's transaction model, the legal attributes of the product, and whether it is a counterparty in the transaction.
III. Which type of Mauritius license is suitable for forex or CFD platforms?
Not all forex platforms are suitable for applying in the same category.
Agency Brokerage Model
If the enterprise mainly:
- Receive customer orders;
- Send the order to the liquidity provider;
- Not bearing major market risks;
- Not engaging in securities underwriting;
Typically, the following can be prioritized for evaluation:
Full Service Dealer excluding Underwriting
Alternatively, the Broker or Derivatives category can be assessed based on the specific business requirements.
Market making or counterparty model
If the company:
- As a counterparty in a client's transaction;
- Use your own funds to bear the risks;
- Independent pricing;
- Internal matching of customer positions;
- Offer off-exchange derivatives;
Further evaluation is needed:
- Full Service Dealer privileges;
- Derivatives permissions;
- Risks and capital requirements;
- Customer fund processing;
- Best practices in execution and conflict of interest management.
Investment advice or account management model
If the company also provides:
- Foreign exchange investment advice;
- Copying transactions;
- Manage accounts;
- Full discretionary transactions;
- Automated portfolio management;
It is also necessary to ensure that the application scope is covered:
- Investment advice;
- Portfolio management;
- Customer order execution.
Therefore, the license category cannot be determined solely based on the phrase "foreign exchange platform".
IV. What are the minimum capital requirements for different Investment Dealer categories?
According to the Mauritian Securities Licensing Rules, different license categories are required to maintain the prescribed minimum unimpaired capital.
| Licence Type | Minimum Unimpaired Capital |
|---|---|
| Full Service Dealer, including underwriters | MUR 10,000,000 |
| Full Service Dealer, excluding underwriting | MUR 1,000,000 |
| Investment Dealer Broker | MUR 700,000 |
| Discount Broker | MUR 600,000 |
| Investment Dealer Derivatives | MUR 1,000,000 |
Minimum unimpaired capital typically requires:
- Fully paid in;
- There are no outstanding amounts;
- The source of funds is legal;
- It belongs to the applicant company's own funds;
- Must be met before operation begins;
- Maintain this status continuously during the period of holding the license.
Regulatory capital is neither a fee paid to the FSC nor a service fee paid to service providers.
Businesses also need to prepare the following:
- Company operating funds;
- Local staff wages;
- Office space;
- Management company expenses;
- Technical systems;
- Banking and payment services;
- Audit and compliance;
- Professional liability insurance;
- Client fund protection arrangements.
Official basis:
FSC Mauritius: Securities Licensing Rules 2007, Fourth Schedule
5. What is the official application fee for the Mauritius FSC in 2026?
The official fees for Mauritius FSC Investment Dealers are calculated based on the license category.
Investment Dealer Official Fees
| Licence Type | Application processing fee | Fixed annual fee |
|---|---|---|
| Full Service Dealer, including underwriters | MUR 100,000 / USD 3,000 | MUR 290,000 / USD 9,500 |
| Full Service Dealer, excluding underwriting | MUR 7,500 / USD 750 | MUR 75,000 / USD 2,500 |
| Investment Dealer Derivatives | MUR 30,000 / USD 1,000 | MUR 90,000 / USD 3,000 |
| Investment Dealer Broker | MUR 5,000 / USD 500 | MUR 60,000 / USD 2,000 |
| Discount Broker | MUR 2,500 / USD 250 | MUR 45,000 / USD 1,500 |
The US dollar fee typically applies to companies that apply for or hold a Global Business Licence and their representatives.
Official fees do not include:
- Global Business Licence Fees;
- Company registration fees;
- Management Company fees;
- Company secretary and registered address;
- Local directors;
- set up an account;
- Capital;
- audit;
- Legal and compliance documents;
- Technology and trading systems;
- Professional liability insurance;
- Subsequent personnel representative license fees.
Official basis:
FSC Mauritius：Codified List of Licenses and Fees
FSC Mauritius: Financial Services Consolidated Licensing and Fees Rules 2008
6. What is a Global Business Licence?
Many Mauritius investment dealer projects that primarily serve international clients will simultaneously establish a Mauritius company and apply for a Global Business Licence (GBL).
GBL is mainly applicable to:
- Controlled by non-Mauritian residents;
- Mainly conducting business outside of Mauritius;
- Establish an international financial services framework through Mauritius;
- Companies that need to hold a regulated financial services license are required.
GBL projects typically need to be submitted to the FSC through a licensed management company.
Management companies typically provide assistance:
- Establish a company;
- Provide company secretary;
- Registration address;
- Local board appointments;
- Company record maintenance;
- Submit an application to the FSC;
- Continuous monitoring reports;
- Annual renewal and compliance management.
According to the current FSC fee schedule, the official fees for a Global Business Licence typically include:
- Application processing fee: USD 500;
- Fixed annual fee: USD 1,950;
- The annual registration fee at the Companies Registry is calculated separately.
Companies should calculate GBL fees separately from Investment Dealer license fees.
Official basis:
FSC Mauritius：Global Business License Fees
7. How much does it cost to obtain a Mauritius FSC license in 2026?
The Mauritius Investment Dealer program does not have a uniform service price applicable to all businesses.
The actual budget depends primarily on:
- Which Investment Dealer category should I apply for?
- Should we apply for a Global Business Licence?
- Does it involve foreign exchange or CFDs?
- Whether to act as a counterparty in a transaction;
- Does the company hold customer funds?
- Do you provide investment advice?
- Do you manage client portfolios?
- The main countries where the clients are located;
- Shareholder and actual controller structure;
- Are there already qualified management personnel?
- Does the trading technology system already exist?
- Do you already have banks and liquidity partners?
- Completeness of application materials.
Reference Budget for the Kovis Integrated Project
| Project Type | Comprehensive Reference Budget |
|---|---|
| Investment Dealer Broker Basic Project | 70,000—110,000美元 |
| Full Service Dealer (excluding underwriting) | 100,000—160,000美元 |
| Forex, CFD and multi-product brokerage projects | 140,000—220,000美元 |
| Derivatives, market making, or complex client funding projects | 180,000—300,000美元 |
| Includes complete operation, technology, and banking implementation projects. | USD 250,000-450,000 and above |
The above is a comprehensive business reference budget developed by Covis based on the full scope of services, and is not the official application fee stipulated by the FSC.
Comprehensive services may include:
- License suitability assessment;
- Investment Dealer category design;
- Global Business was established;
- GBL application for assistance;
- Equity structure planning;
- Recommendations for management team configuration;
- Business plan;
- Three-year financial forecast;
- Capital adequacy plan;
- Customer cash flow statement;
- Transaction execution mode description;
- AML/CFT regime;
- Customer classification and risk rating;
- Best implementation policy;
- Conflict of interest management;
- Customer complaint handling system;
- Information security and business continuity;
- FSC application material preparation;
- Assistance with responding to regulatory issues.
If a company already has a mature team, transaction system, banking solutions, and compliance documents, the actual service plan may be lower than the publicly available reference budget.
Obtain actual cost assessment
Submitting information on planned products, transaction models, customer regions, and existing teams allows for further evaluation of suitable license categories and budgets.
8. Who is required to apply for an Investment Dealer position in Mauritius?
Applicant companies need to have a management team that matches their business scale and risk level.
Common personnel include:
- Two or more directors with appropriate competence;
- Local resident director;
- Executive Director or Chief Executive Officer;
- Compliance Officer;
- MLRO, head of the anti-money laundering report;
- Deputy MLRO;
- Risk Management Manager;
- Financial officer;
- Investment transaction representative;
- Customer service and operations personnel;
- Internal or external auditors.
Under securities licensing rules, an investment dealer is required to continuously employ at least one qualified representative.
A full-service dealer representative typically needs to:
- Relevant professional degrees;
- At least 8 years of relevant investment experience.
Investment Dealer Broker representatives typically need to:
- Relevant professional degrees;
- At least 4 years of relevant investment experience.
The FSC will conduct a comprehensive evaluation:
- Educational background;
- Work experience;
- Regulatory background;
- Management skills;
- Time investment;
- Integrity and reputation;
- Are there any regulatory penalties?
- Whether they are truly involved in the company's operations.
Official basis:
FSC Mauritius: Securities Licensing Rules 2007
9. Does the applicant company need to have substantial operations in Mauritius?
A Mauritian management and operational arrangement that matches the licensed business needs to be established.
Common substantive requirements may include:
- Register a company in Mauritius;
- Mauritius registered address;
- Managed through a licensed management company;
- At least two permanent directors from Mauritius;
- Mauritius bank account;
- Preserving company and business records in Mauritius;
- Hold a board meeting locally;
- Core decisions are made by the board of directors;
- Configure compliance and anti-money laundering functions;
- It has adequate office space and staffing arrangements;
- Annual audit and financial report.
Companies should not design projects as follows:
- Only virtual addresses;
- The directors are not involved in the management at all;
- All decisions were made overseas;
- Mauritius has no business record;
- Local personnel are only nominally employed;
- The license application details are inconsistent with the actual operation.
The FSC will focus on whether companies are truly being effectively managed and supervised from Mauritius.
10. What materials are needed to apply for an FSC license?
Company and Equity Information
- Company registration documents;
- company policy;
- Shareholder register;
- Board of Directors;
- Group organizational chart;
- Information on the ultimate beneficiaries;
- Information on related companies;
- Source of shareholder funds;
- Explanation of the source of wealth;
- Global Business Licence materials.
Shareholder and Director Information
- Passport or proof of identity;
- Proof of address;
- Personal resume;
- Educational background and professional qualifications;
- Financial industry experience;
- Regulatory records;
- No criminal record;
- Bank recommendation letter;
- Professional recommendation letters;
- Explanation of litigation and disciplinary actions.
Management personnel and representative information
- Detailed resume;
- Academic credentials;
- Work experience certificate;
- Professional qualifications;
- Previous employment with regulatory agencies;
- Job Responsibilities;
- Time investment;
- Individual questionnaire;
- Proof of suitability.
Business materials
- Business plan;
- Programme of Operations;
- Target market;
- Customer type;
- Financial products;
- Payment method;
- Order fulfillment mode;
- Liquidity providers;
- Trading platform;
- Customer cash flow;
- Banks and payment partners;
- Three-year financial forecast;
- Stress test;
- Capital arrangements;
- Marketing plan.
Compliance materials
- AML/CFT policy;
- KYC procedures;
- Customer risk rating;
- Sanctions screening system;
- Handling suspicious transactions;
- Best implementation policy;
- Conflict of interest policy;
- Customer fund protection;
- Complaint handling system;
- Marketing review policy;
- Outsourcing management system;
- Data protection policy;
- Cybersecurity policy;
- Business continuity plan;
- Record keeping system.
XI. Complete Application Process for Mauritius FSC
Step 1: Determine the actual business model
The confirmed company is:
- Agent/broker;
- Market makers;
- Securities brokers;
- Forex or CFD platforms;
- Investment advisor;
- Portfolio management institutions;
- Derivatives trader.
Step 2: Select License Type
Choose based on business needs:
- Full Service Dealer, including underwriting;
- Full Service Dealer, excluding underwriting;
- Broker;
- Discount Broker;
- Derivatives.
Step 3: Designing the Company and Equity Structure
确定：
- Mauritius company;
- Global Business License;
- shareholder;
- Ultimately, all beneficiaries;
- director;
- Management Company;
- Group affiliations.
Step 4: Assign management personnel
Arrange for directors, representatives, compliance officers, MLROs, risk and finance personnel.
Step 5: Prepare regulatory capital
Depending on the license category, prepare a minimum capital of 60 to 1,000 million Mauritian rupees and additional operating funds.
Step 6: Identify business partners
include:
- Corporate Bank;
- Customer funds bank;
- Liquidity providers;
- Trading technology platform;
- CRM system;
- Payment service provider;
- Auditor;
- Legal and compliance service provider.
Step 7: Prepare application documents
Prepare a business plan, financial forecasts, compliance policies, cash flow statements, and transaction execution instructions.
Step 8: Submit the application through the Management Company
The licensed management company submits the GBL and Investment Dealer application materials to the FSC.
Step 9: Undergo FSC review
The FSC may ask questions about the following:
- Shareholder background;
- Source of funding;
- Management experience;
- Traded products;
- Customer country;
- Customer funds;
- Liquidity providers;
- Trading system;
- Compliance system;
- Financial forecasts;
- Mauritius is in operation.
Step 10: Supplementing and Revising Information
Complete document supplementation, personnel adjustments, or operational plan modifications based on regulatory feedback.
Step 11: Obtain approval in principle or a license
Applicants may need to complete pre-approval conditions such as capital injection, staff on-the-job training, bank account opening, or system preparation.
Step 12: Formal Operation and Continuous Compliance
Once approved, conduct business within the scope of the license and continuously fulfill annual fees, reporting, auditing, and AML obligations.
12. How long does it take to get an FSC license in Mauritius?
The FSC has not committed to a uniform and fixed approval cycle for all Investment Dealer projects.
From the perspective of a complete project, the following can generally be referenced:
| Project Type | Comprehensive reference period |
|---|---|
| Broker or simpler investment services | 6-9 months |
| Full Service Dealer (excluding underwriting) | 8-12 months |
| Foreign exchange, CFD and multi-product projects | 9-15 months |
| Derivatives, market making, or complex client funding projects | 12-18 months and above |
The actual cycle depends on:
- Shareholder structure;
- Management team;
- Capital reserves;
- Document integrity;
- Banks and technology partners;
- Number of FSC issues;
- Management Company processing efficiency;
- The complexity of the customer's products.
The above is for practical project reference only and does not represent the approval time guaranteed by the FSC.
13. Can FSC Investment Dealer serve clients worldwide?
A Mauritius Investment Dealer license alone does not grant a company the right to operate in any country in the world.
Businesses still need to assess based on the location of their target customers:
- Are foreign brokers allowed to serve local clients?
- Is it possible to proactively market?
- Is it permissible to serve retail customers?
- Is a local license plate required?
- Is advertising permitted?
- Are there any leverage or product restrictions?
- Is a local representative needed?
- Does it involve local consumer protection?
Mauritian license plates cannot be automatically replaced:
- FCA (UK);
- EU CySEC;
- ASIC Australia;
- US CFTC or NFA;
- Singapore MAS;
- Japan FSA;
- Other countries' regulations.
When making external announcements, companies should avoid using misleading statements such as "globally applicable license".
14. Can an FSC license holder hold customer funds?
Whether or not customer funds can be held depends on the following:
- Specific Investment Dealer license categories;
- FSC approval conditions;
- Customer funds bank;
- Company Operations Manual;
- Customer Agreement;
- Fund segregation system;
- Daily or periodic reconciliation;
- Audit requirements.
Businesses typically need to do the following:
- Customer funds are separated from company funds;
- Use an appropriate bank account;
- Establish an accurate customer ledger;
- Regularly reconcile the balance;
- Address funding shortages promptly;
- Disclose funding arrangements in the client agreement;
- Conduct due diligence on banks and third-party institutions.
Obtaining an Investment Dealer license does not imply that a company can receive or use customer funds in any way.
15. What ongoing maintenance is required after an FSC license is approved?
Once approved, the following tasks typically need to be completed:
- Maintain minimum capital;
- Pay the FSC fixed annual fee;
- Pay the annual fee for GBL;
- Retain local directors;
- Maintain Management Company;
- Submit annual audited financial statements;
- Complete the AML/CFT report;
- Retain customer and transaction records;
- Maintain the Representative license;
- Complete employee training;
- Update business plan and risk assessment;
- Report changes in shareholding or board of directors;
- The report details key business changes;
- Maintain professional liability insurance;
- Continuously monitor customer funds;
- Undergo FSC inspection.
Failure to pay the annual fee on time may result in additional charges, and in severe cases, may lead to the termination or invalidation of the license.
16. What are the differences between the Mauritius FSC and the Seychelles FSA?
| Comparison Projects | Mauritius FSC | Seychelles FSA |
|---|---|---|
| Common license plates | Investment Dealer | Securities Dealer |
| Major regulatory agencies | FSC Mauritius | Seychelles FSA |
| International financial architecture | Often in conjunction with Global Business Licence | Seychelles company is frequently used |
| capital requirements | Distinguished by license type | Determined in accordance with local securities regulations |
| Local substance | The requirements are relatively complete. | Local arrangements are also required. |
| Suitable for business | Brokerage, securities, investment management and derivatives | Securities and brokerage business |
| International recognition | Relatively high in due diligence conducted by some institutions | Depending on the policies of the partner institutions |
| Application complexity | Relatively high | Depending on the project |
The final choice should be based on:
- Target market;
- Bank cooperation;
- Payment channels;
- Product type;
- Customer base;
- Budget;
- Operations team;
A comprehensive assessment is needed, and it's not enough to simply look at which country has the lowest prices.
17. What factors can easily lead to an FSC application failure?
Common questions include:
- Selecting the wrong license category;
- The business model is not clearly described;
- The source of the shareholders' funds cannot be explained;
- Inexperienced management personnel;
- The representative is not qualified;
- The local directors are merely figureheads;
- There is no actual operation in Mauritius;
- There is no clear trading system;
- There is no liquidity provider;
- The customer's fund flow is unclear;
- The financial forecasts are unreasonable;
- AML files use a generic template;
- The website does not match the application content;
- External publicity exceeded the scope of the application.
- The target customer's country has regulatory restrictions;
- The capital is only borrowed temporarily;
- Unable to afford the ongoing operating costs.
The FSC focuses more on whether a company can conduct business genuinely, steadily, and sustainably, rather than simply whether its documentation is complete.
18. Common FSC Questions in Mauritius
1. Can non-Mauritian residents apply?
An evaluation can be conducted.
Foreign shareholders can participate in a Global Business Company, but the company must meet local requirements for directors, management, and substantive operations.
2. Is a Mauritian company required?
Most international investment dealer programs use Mauritius Global Business Company as the application entity.
3. Can the minimum capital be withdrawn after approval?
It cannot be simply understood as meaning that all of it can be withdrawn after approval.
Licensed entities are required to maintain a minimum unimpaired capital and ensure they have sufficient operating funds.
4. Can a Full Service Dealer (excluding underwriters) trade foreign exchange?
The scope of authority can be used to assess foreign exchange and related securities or derivatives services, but the specific authority depends on the application and the conditions for FSC approval.
5. Is it permissible to operate a CFD platform?
An evaluation needs to be conducted in conjunction with the CFD product attributes, trading model, Derivatives permissions, client funds, and counterparty arrangements.
6. Can I act as a market maker?
It is not possible to judge solely based on the license name; it is necessary to confirm whether the entity is permitted to trade as the principal, and whether it possesses appropriate derivatives rights and capital.
7. Can you provide copy transactions?
If the replication transaction involves investment advice, portfolio management, or trading on behalf of clients, it is necessary to ensure that the license covers the relevant business.
8. Can you serve Chinese customers?
A Mauritius license alone does not guarantee that you can actively market in China or other countries; you need to assess the laws of the customer's location.
9. Is it mandatory to open a bank account after obtaining a license?
No guarantee.
The bank will independently audit shareholders, business operations, customer countries, cash flow, technology systems, and AML policies.
10. Is FSC application guaranteed to be approved?
No.
The final decision is made by the FSC based on the company's capital, shareholders, management team, business model, and compliance capabilities.
11. Can the license plate be sold or transferred?
The shareholding structure of a licensed company can change in accordance with the law, but changes in control, shareholders, directors and business usually require FSC approval or notification.
12. How do I check the status of a Mauritius FSC license?
You can check a company's name and license status through the official FSC Mauritius Register of Licensed Organizations.
Official entrance:
FSC Mauritius Register of Licensees
Covis Mauritius FSC Application Service
Kovis can assist in completing the following tasks based on the company's actual business needs:
- FSC license suitability assessment;
- Investment Dealer Category Analysis;
- Foreign exchange and CFD business permission design;
- Global Business was established;
- Global Business Licence application;
- Equity and control structure planning;
- Recommendations for local board and management team arrangements;
- Representative qualifications assessment;
- Business plan;
- Three-year financial forecast;
- Customer cash flow design;
- Transaction execution mode description;
- AML/CFT regime;
- Best implementation policy;
- Conflict of interest management;
- Customer complaint handling;
- Technical and business continuity documentation;
- FSC application material preparation;
- Assistance in responding to regulatory questions;
- Continue to plan for compliance after approval.
Get Mauritius FSC application solution
If a company already has a management team, trading platform, bank partnerships, liquidity providers, and some compliance documents, the actual solution may be lower than the budget disclosed in this article.
Please submit the following information for a preliminary assessment:
- Planned financial services;
- Does it involve foreign exchange, CFDs, or securities?
- Agency model or market making model;
- Does the company hold customer funds?
- Does it provide investment advice or account management?
- The main countries where the clients are located;
- Does the company and its technical system already exist?
- Does the company already have a management and compliance team?
Data sources and official links
1. Classification of FSC-licensed businesses in Mauritius
FSC Mauritius: Licensed Activities
2. Minimum Capital and Personnel Requirements for Investment Dealers
FSC Mauritius: Securities Licensing Rules 2007
3. Full Service Dealer does not include underwriting application requirements.
FSC Mauritius: Licensing Criteria – Full Service Dealer excluding Underwriting
4. Official Fee List for FSC License
5. FSC Comprehensive Licensing and Fee Rules 2026
FSC Mauritius: Financial Services Consolidated Licensing and Fees Rules 2008
6. Mauritian Securities Law
FSC Mauritius: Securities Act 2005
7. Global Business Regulatory Notice
FSC Mauritius: Global Business
8. FSC Regulatory Rules and Revisions
FSC Mauritius: Rules and Regulations
9. FSC Licensed Organization Inquiry
FSC Mauritius: Register of Licensees
Price Explanation
The combined budget of $70,000–$450,000 listed in this article is a business reference budget developed by Covis based on license category, project complexity, and scope of services.
This budget is not the official processing price stipulated by the FSC, nor does it represent a uniform price from all market service providers.
The following fees typically need to be calculated individually or in combination with other items:
- Minimum regulatory capital;
- FSC official application fee;
- FSC fixed annual fee;
- Global Business Licence Fees;
- Management Company fees;
- Mauritian local directors and staff;
- Office space;
- Bank and customer funds accounts;
- Liquidity and trading systems;
- audit;
- Professional liability insurance;
- Continuous compliance services.
The final cost will be determined based on the company's product range, transaction model, customer regions, staffing, and available materials.
Disclaimer
This article is for general informational purposes only and does not constitute legal advice, investment advice, regulatory approval commitment, or bank account opening guarantee in Mauritius.
The capital requirements, scope of business, official fees, and ongoing compliance requirements for an Investment Dealer license may change depending on the application category, the company's actual operations, and updates to regulatory rules.
Before officially commencing foreign exchange, securities, CFD, or investment management business, a targeted legal and compliance assessment should be conducted based on the specific circumstances of the project.
