In 2025 Mauritius holds leading positions among jurisdictions for international investment operations: according to FSC Mauritius, over the past three years the volume of registered investment companies has grown by more than 40%, and the number of applications for Mauritius Investment Dealer License steadily increases each year.
Mauritius offers a unique balance of these factors.
The main reason is the combination of a transparent, FATF-compliant regulatory environment, the absence of capital gains tax on securities transactions, an 80% foreign tax credit and the status of a strategic bridge between the markets of Asia and Africa.
Many clients COREDO, analyzing options for global business structuring, face a typical dilemma: how to reconcile strict compliance, tax optimization and a rapid entry into new markets? Mauritius offers a unique balance of these factors.
Ready to learn how to leverage Mauritius to scale your investment business and avoid common mistakes?
In this article I will thoroughly examine all the key aspects of licensing an Investment Dealer in Mauritius, relying on COREDO’s practice and recent international sources. Read to the end: you will receive not only a step-by-step guide but also strategic recommendations that will help take your business to a new level.
Types of Investment Dealer licenses in Mauritius
Types of Investment Dealer licenses in Mauritius cover a wide range of financial services with different rights and requirements for companies wishing to conduct investment activities on the island. Understanding the features of each license category and their differences is important for choosing the optimal option that meets business objectives and satisfies the Mauritius regulator’s requirements.
License categories and their differences
In COREDO’s practice we see that the choice of Investment Dealer Mauritius license category determines not only the range of permitted operations but also the strategy for entering international markets. FSC Mauritius offers four main license categories, each aimed at different business models and capital levels:
| License category | Permitted activities | Minimum capital (MUR) | Notes |
|---|---|---|---|
| Full Service (including underwriting) | Intermediation, proprietary trading, underwriting, investment advice, asset management | 10,000,000 | Maximum functionality, high capitalization |
| Full Service (without underwriting) | All of the above, except underwriting | 1,000,000 | For companies without issuance activity |
| Broker | Order execution, portfolio management, advisory services | 700,000 | For classic brokerage services |
| Discount Broker | Order execution only without advisory services | 600,000 | Execution-only, minimal requirements |
For fintech companies and startups focused on automation and execution-only services, the Discount Broker is an optimal starting option. If the business model involves comprehensive deal support, underwriting and asset management, an Investment Dealer Full Service license including underwriting will be required.
The COREDO team has repeatedly supported projects obtaining licenses for trading derivatives and virtual assets; these areas are especially in demand among clients entering the markets of Asia and Africa.
FSC Mauritius licensing requirements
FSC Mauritius licensing requirements impose a set of strictly regulated conditions on companies wishing to conduct financial activities in Mauritius. Compliance with these requirements is a mandatory step to obtain a license and to operate within the regulated environment. Below we will consider the main regulatory requirements that applicants must meet.
Key regulatory requirements
Mauritius features a strict but transparent licensing system, as confirmed by COREDO’s practice when working with FSC licensing requirements. To obtain a Mauritius Investment Dealer License the following is required:
- Legal form: Registration only through a Category 1 Global Business Company (Mauritius GBC). This status provides access to tax benefits and international agreements.
- Capital: Minimum capital requirements depend on the license category and must be maintained for the duration of the license. The regulator closely monitors capital adequacy and requires confirmation of the sources of funds.
- Staff qualifications: Directors and key personnel undergo a fit and proper test, confirming relevant experience and education. At COREDO we recommend preparing a dossier for each candidate in advance to speed up the approval process.
- AML/CFT compliance: Mandatory appointment of an MLRO (Money Laundering Reporting Officer) and a compliance officer, both must be residents of Mauritius. The development and implementation of internal AML/CFT, KYC, CDD, EDD procedures is not a formality but a real tool to protect the business from sanctions and reputational risks.
- Professional insurance: Professional Indemnity insurance is required; the coverage amount is determined by the scale and profile of activities. Solutions developed by COREDO allow optimizing insurance costs without compromising compliance.
- Audit and reporting: Annual audit by a licensed Mauritian auditor, regular submission of financial and regulatory reports, bookkeeping in accordance with international standards.
- Office and infrastructure: Presence of a physical office in Mauritius, appropriate IT infrastructure and trading platform. COREDO’s practice confirms: the higher the level of substance, the easier it is to open bank accounts and to undergo international Due Diligence.
These requirements form a solid foundation for the long-term development of an investment business and for minimizing regulatory risks.
More details on the application procedure and review timelines: in the next section.
Application for licenses: process and timelines
The license application: process and timelines requires a careful approach: to obtain a license it is important to prepare a set of documents, comply with the formatting requirements and know the stages of interaction with the licensing authority. Understanding the key steps and timelines will help make the licensing process predictable and controllable.
Stages and documents for the process
From COREDO’s experience, successfully obtaining a Mauritius Investment Dealer License is always the result of thorough preparation and clear communication with the regulator. The process consists of several key stages:
- Preparation of a business plan, financial model, compliance manual, internal procedures, client agreements. Documents should not be template-based but reflect the real business logic, risks and development strategy.
- Due diligence on founders, beneficiaries, directors and key employees. Special attention is paid to sources of funds and the history of business reputation.
- Appointment of an MLRO, compliance officer and auditor. All key employees must be approved by the FSC Mauritius.
- Submission of the full document package to the FSC Mauritius. At this stage accuracy and completeness are important; any inaccuracy may lead to delays.
- The application review usually takes 8–12 weeks. The regulator may request additional information or clarifications.
- obtaining the license and the start of operations with adherence to ongoing compliance obligations, regular reporting and maintaining substance.
At COREDO we assist clients at all stages, including preparing the business plan, developing the compliance manual and organizing internal procedures, which significantly speeds up the approval process.
Tax benefits for businesses
Mauritius offers unique tax and business opportunities for investment companies:
- No capital gains tax on securities transactions, which allows optimizing the returns of investment strategies.
- 80% foreign tax credit – the possibility to credit foreign taxes, which reduces the effective corporate tax rate to 3–5%.
- Access to a network of DTAs (double taxation avoidance agreements) with key countries in Asia and Africa, which facilitates cross-border operations and reduces the tax burden on international capital flows.
- Opportunities for fintech and virtual assets. Mauritius is actively developing the regulation of virtual assets and derivatives, which allows integrating these areas into the Investment Dealer Mauritius license.
- Business scaling: access to Asian and African markets through Mauritius as a hub. The COREDO team has implemented projects to structure cross-border operations using the Mauritius investment dealer Asia-Africa bridge, which gave clients a significant advantage in the speed and flexibility of entering new markets.
These factors make Mauritius one of the most attractive jurisdictions for international investment companies, fintech startups and brokerage platforms.
Risks and business challenges in licensing
Licensing and doing business in Mauritius are associated with a number of specific risks and challenges that are important to consider at the strategic planning stage:
- Strict AML requirements/CFT: The regulator regularly updates requirements, and non-compliance even with formal procedures can lead to license suspension. Implementation of a risk-based approach and regular internal audit: mandatory elements of sustainable compliance.
- High capital requirements: For Full Service licenses significant capital is required, which must be evidenced and maintained in the company’s accounts.
- The need to maintain substance: a real presence, qualified personnel and infrastructure in Mauritius — not just a formality but a key factor for successfully opening accounts and undergoing international due diligence.
- Sanctions risks: Violation of regulatory norms can lead to fines, license revocation and account freezes.
- Difficulties with opening bank accounts: International banks impose heightened requirements on GBC companies, especially regarding transparency of structure and sources of funds. Solutions developed by COREDO include preparing an enhanced compliance package and supporting negotiations with banks.
Technologies and infrastructure for an investment dealer
Modern investment business is impossible without a developed technological platform and reliable IT infrastructure:
- Trading platform: Requirements for reliability, security and integration with liquidity pools and prime brokers are constantly growing. Solutions implemented by COREDO include customization of trading platforms to meet FSC Mauritius requirements.
- IT infrastructure: Compliance with international cyberse…
- Compliance automation: Implementing solutions for KYC, AML, automated reporting and transaction monitoring significantly reduces operational risks and personnel costs.
- Support for fintech solutions: The ability to work with virtual assets, derivatives, algorithmic trading and integration with external services via API is an important competitive advantage for new market entrants.
security and data protection (ISO, GDPR), a mandatory requirement for working with institutional clients and banks.
COREDO’s practice confirms: investments in technological infrastructure and compliance automation quickly pay off through increased efficiency and reduced regulatory risks.
Choosing a service provider for your business
The success of licensing and subsequent operations largely depends on choosing a reliable service provider:
- selection criteria: Experience working with FSC Mauritius, availability of licensed lawyers and compliance specialists in Mauritius, proven reputation and a transparent fee structure.
- Comprehensive support: From GBC registration and preparation of a full document package to organizing internal procedures, audits and ongoing compliance. The COREDO team has implemented dozens of projects where support covered all stages of a company’s lifecycle: from start-up to scaling.
- Outsourcing compliance and reporting: To optimize costs and reduce operational risks, many COREDO clients choose the outsourcing compliance model and the transfer of some functions to third parties (third-party service providers) under the supervision of an internal compliance officer.
This approach allows focusing on business development without being distracted by routine and minimizes the risk of errors when interacting with the regulator.
Comparison of Mauritius with other jurisdictions
Choosing a jurisdiction for registering an investment company is a strategic decision that affects not only the tax burden but also market access, licensing speed and business reputation. In practice, COREDO often compares Mauritius with jurisdictions such as Cyprus, Singapore, Estonia and the United Kingdom.
| Parameter | Mauritius | Cyprus | Singapore | Estonia | United Kingdom |
|---|---|---|---|---|---|
| Regulatory strictness | High, FATF | Medium | Very high | Medium | High |
| tax incentives | 80% foreign tax credit, no capital gains tax | 12.5% corporate tax, DTA | 17% corporate tax | 20% corporate tax | 19% corporate tax |
| Licensing timelines | 8–12 weeks | 4–6 months | 3–6 months | 2–3 months | 3–6 months |
| Market access | Asia, Africa | EU, CIS | Asia, global | EU | Global |
| Reputation | High | Medium | Very high | Medium | Very high |
| Compliance complexity | Medium | Medium | High | Medium | High |
Thus, a proper choice of jurisdiction allows significantly increasing the competitiveness of an investment company and minimizing regulatory, tax and operational risks, which determines the next steps in structuring the business.
Key conclusions and practical tips
- Choose the license category based on the business model and scaling plans. For execution-only services a Discount Broker is sufficient; for comprehensive services – Full Service.
- Ensure full AML compliance/CFT: appoint experienced MLRO and compliance officer, implement a risk-based approach and automated monitoring systems.
- Invest in qualified personnel and infrastructure: substance in Mauritius is the key to successfully opening accounts and passing due diligence.
- Use tax advantages: optimize international operations through the 80% foreign tax credit and the absence of capital gains tax.
- Consider integrating derivatives and virtual assets: this is a promising direction for fintech startups and investment platforms.
- Choose a reliable service provider: the partner’s experience and expertise significantly speed up the licensing process and minimize risks.
- Plan regular audits and monitoring of regulatory changes: this is the key to sustainable business development and trust from partners and clients.
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Mauritius is not just an attractive tax jurisdiction, but a full-fledged international hub for investment business, fintech and brokerage platforms. Successful licensing and conducting activities here requires a deep understanding of local requirements, investments in compliance, infrastructure and qualified personnel. COREDO’s experience shows: entrepreneurs ready for these challenges gain unique opportunities to scale their business in Asian and African markets by using the Mauritius Investment Dealer License as a strategic growth tool.