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Obtain Mauritius Global Business Category 1 License

Mauritius Global Business Category 1 License (GBL 1)

Securities Dealer's License
Mauritius GBL 1 license makes a company authorized to act as intermediary in the execution of securities transactions for clients, and trade in securities as principal with the intention of reselling these securities to the public.
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Timeframe: within 6 months

Minimum capital requirement: 

  1. Investment Dealer (incl. underwritting) - EUR 250 000*
  2. Investment Dealer (excl. underwritting) - EUR 25 000


Overview

A company applying for a GBL1 license shell pass the test of conducting business outside Mauritius. An applicant for a Forex License is required to submit the appropriate application to the FSC.

Under the Financial Services Development Act, a GBL 1 Company is defined as a company engaging in any approved global business activity, including those involved in raising funds from the public and those who require investor’s protection under the same legislation and those who carry on business in a currency other than the Mauritius Rupee.

A Forex License allows to carry out following business activities:

  • Act as a full-service Forex dealer
  • Act as an intermediary, regarding the execution of securities transactions
  • Trade in securities as a principal with the reason of reselling these securities to public
  • Advice regarding the investment issues

Main benefits

  • Mauritius Company portrays a good image to your Clients
  • Great reputation for prominent trade operations
  • Exemption from stamp duties, registration duties or other such fees
  • Royalties paid to non-residents are exempted from taxes
  • High confidentiality, no public records
  • Bank account in Mauritius
  • Not blacklisted

* It allows to underwrite or distribute securities on behalf of an issuer or a holder

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Licensing Criteria and Procedures for Applying for Mauritius Global Business Category 1 License

Notable features
Procedure
Documents Required

General information

Company structure

  • Minimum 1 shareholder (no nationality restrictions for physical shareholders)
  • Minimum 2 resident directors*

Taxation  

  • No tax on income and dividends;
  • No capital gains and inheritance tax;
  • No exchange control restrictions;
  • Standard corporate tax rate of 15% is reduced to a net effective tax rate of 3%;
  • Free repatriation of profits, dividends and capital.

 Accounting and Audit

  • The Company will be required to fil audited financial statements and tax return within 3 months from its balance sheet date.
  • Audit should be done from Mauritius.
  • The authorities may do half-yearly audit of the Company.
  • Accounting records should be kept at the local offices of the administrator.

 Registered Agent - Required

 Registered office - Required

 Secretary Required

Company name

  • Language: English or French
  • Restricted any name that is identical or similar to an existing company or name that suggests the patronage of the President or the Government of Mauritius.
  • The following names or their derivatives requiring Consent or a License: Bank, buildings society, insurance, assurance, trust, Chamber of Commerce, chartered, co-operative, government, imperial, minicipal, royal, state or any name which in the opinion of the Registrar suggests the patronage of the President or the Government of Mauritius.
  • Following suffixes may be used to denote limited liability: Limited, Corporation, Incorporated, Public Limited Company, Société Anonyme, Société Anonyme à Responsabilité Limitée, Sociedad Anónima, Berhad, Proprietary, Naamloze Vennootschap, Besloten Vennootschap, Aktiengesellschaft or the relevant abbreviations. 

*Must be appropriately qualified to exercise independence of mind and judgement


In order to obtain a license, the following steps will be carried out:

  • Application for reservation of company name
  • Preparation and submission with the Financial Services Commission  (FSC) for the application of a Global Business Company Category 1  License
  • Preparation and submission of the application and incorporation documents to the Registry
  • Incorporation of the company
  • Opening of the local bank account
  • Obtaining the License

In order to obtain license, Offshorelicense will fill all necessary application forms and also acquire apostilled corporate documents. 

For that reason, please provide us with the following documents.

  • Notarized copy of valid passport (each of Director or Shareholder)
  • Notarized copy of proof of address (ex. Utility bill of each Director)
  • 2 Character reference Letter issued by professionals (of each Director and Shareholder)
  • Bank reference (of each Director)
  • Detailed CV dated and signed by applicant (of each Director and Shareholder)
  • Certified Diplomas of Higher Education
  • Notarized criminal record
  • Detailed business plan
  • Manuals: procedure manual, privacy policy, disaster recovery plan, complaints handing policy, Anti Money Laundering policy, security policy and procedures

In case the shareholder is a company, it is required to provide:

  • Certified true copy certificate of registration
  • List of shareholders
  • Copy of the last annual/financial return
  • Apostilled Certificate of Good Standing

Additional Due diligence may be prescribed by Financial Services Commission*:

  • Original documents that proof of source of capital

All documentation shall be provided in English*

* Additional documents may be requested by the FSC or local Bank at any point to certify specific information

* If documents are not in English, then they must be accompanied by a notarized translation