Other Licenses

Other Licenses

  1. Captive insurance company

A captive insurance company must obtain a licence to conduct captive business. The Captive Insurance Company may also have to appoint a licensed Management Company in Mauritius and a Principal Representative who will be accountable to the Commission.

Both pure captives and captives insuring second party and third party risk may be licensed. In the case of third party business the captive should demonstrate access to the necessary underwriting and analytical skills, financial soundness and a good track record. Full details of all programmes to be underwritten must be submitted for approval to the Financial Services Commission. Rent-a-captive and cell captives are also permitted.
Insurance Companies, Insurance Brokers and Insurance Managers are now issued licences under the Insurance Act 2005, There are several tax benefits from having such licences. including quick registration procedures, reasonable running costs and top-class infrastructure.


  • Types of captives permissible

    Captive General Insurance Business
  • Minimum Paid-Up Capital: US$ 100,000
  • Margin of Solvency: Surplus of assets over liabilities of US$100,000 or 15% of net premium income, whichever is higher.
  • Liquidity Ratio: The value of the captive’s admitted assets must not be less than 75% of the amount of its admitted liabilities.

Captive Long Term Insurance Business

  • Minimum Paid-Up Capital: US$ 250,000
  • Margin of Solvency: Liabilities not to exceed amount of long term insurance fund.

        Captive General and Long Term Insurance Business

  • Minimum Paid-Up Capital: US$ 350,000
  • Reinsurance/Filing

Captive insurance companies are required to be reinsured in excess of reasonable and prudent retention levels unless the Commission is satisfied that the captive has access to sufficient security without the need for reinsurance.





  1. Global Headquarters Administration Licence & Treasury Management Licence

The Financial Services Act 2007 promotes the setting up of ‘Global Headquarters’ and ‘Treasury’ companies in the global business sector. A corporation holding a ‘Global Headquarters administration’ licence or a ‘Global Treasury Activities’ licence shall benefit from ‘’Global Business’’ license. The Global Headquarters Administration Licence and the Treasury Management Centre Licence enhance Mauritius’ position as a regional financial and business hub. MNCs would therefore be able to set up their regional administration, procurement and accounting offices, as well as conduct treasury management activities in the Mauritius International Financial Centre.


  • Global Headquarters Administration
  • Administration & general management
  • Business planning, development and coordination
  • Economic and investment research & analysis
  • Services relating to international corporate headquarters in Mauritius
  • Any other global headquarters administration services as may be specified in the FSC Rules.
  • Global Treasury Activities


  • Arranging for credit facilities, including credit facilities with funds obtained from financial institutions in Mauritius or from surpluses of network companies
  • Arranging for derivatives
  • Corporate finance advisory
  • Credit administration & control
  • Factoring, forfeiting and re-invoicing activities
  • Guarantees, performance bonds, stand-by letters of credit, and services relating to remittances
  • Management of funds for designated investments
  • Any other global treasury activity as may be specified in the FSC Rules



  • Tax exemptions and Concessions


  • Companies holding a ‘Global Headquarters License’ delivered by the FSC will be provided with a 8-year tax holiday.
  • Companies holding a ‘Treasury Management Centre License’ delivered by the FSC will be provided with a 5-year tax holiday


  1. Asset Management License

Asset management is an activity where the asset manager manages its clients’ assets. The clients give the asset manager the mandate to run their account at their discretion, without necessarily involving them in the decision-making process.

Asset and Fund Managers Licensed by the FSC and managing a minimum asset base of USD 100 million are provided with a 5-year tax holiday.

Asset and Fund Managers managing a minimum asset base of USD 100 million

  • The officer must be resident in Mauritius
  • The asset base being managed must be an average of USD 100 million over the last financial year
  • The employer of the officer must submit a declaration to the commission to the effect that the officer has managed an asset base averaging USD 100 million over the last financial year signed by 2 directors and certified by the auditors.



  1. Investment Banking and Corporate Advisory Licence

This is an umbrella license encompassing the activities of an investment dealer, investment adviser in corporate finance, credit finance, asset management and non-custodian. Companies issued with an ‘Investment Banking and Corporate Advisory License’ are provided with a 5-year tax holiday.

Services that can be provided under the Investment Banking Licence include:

  • Brokerage
  • Underwriting
  • Investment advisory
  • Asset management
  • Distributor

An Investment Bank may by way of business engage, in one or more of the following activities:

  • Investment Dealer (Full Service Dealer including underwriting)
  • Investment Adviser (Unrestricted)
  • Investment Adviser (Corporate Finance Advisory)
  • Asset Management
  • Distribution of Financial Products
  • such similar activities as may be approved by the FSC






  1. Corporate Finance Advisory Licence

A new type of licence, the Corporate Finance Advisory Licence, has been introduced under the Securities Act 2005, for entities wishing to engage in the provision of advisory services regarding:

  1. a) Compliance with the listing requirements of any securities exchange
  2. b) Raising of funds through the issue of securities
  3. c) Arrangement or restructuring, including takeovers, mergers and acquisitions
  4. d) Any other matter specified by the FSC.

Holders of such type of licences shall be regulated by the FSC. ) Corporate finance advisory are authorised to provide corporate finance advisory services with respect to securities transactions through printed materials or any other mean.

  • Minimum Capital Requirement

The Applicant shall maintain a minimum stated unimpaired capital (as per Securities (Licensing) Rules 2007).

For a GBC 1, the following should be submitted as per Securities Rule 2007:

  • Undertaking that the Applicant shall always maintain a minimum stated unimpaired capital
  • Undertaking that the Applicant will not start its operations, trade, or incur any liabilities prior to meeting its minimum unimpaired stated capital.
  • Undertaking that within one month of the licence being issued evidence that the proceeds of the share issue or its equivalent have been credited to the Applicant’s bank account will be submitted to the Commission.

For a domestic company applying for an Investment Adviser (Corporate Finance Advisory) Licence, the following should be submitted:

  • The Applicant should ensure that stated capital is injected prior to the licence being issued.
  • Statutory filings lodged to the Registrar of Companies with respect to the share capital.




  1. Overseas Family Corporation’ licence

The Overseas Family Office Scheme caters for the domiciliation of high net worth single family and multifamily offices, characterised by two licences under the scheme respectively. The scheme is regulated by the Financial Services Commission and the licences are governed by the Financial Services Act and consequential secondary rules:

Single family office

  • A Minimum of 1 professional resident
  • Asset under management of more than USD 5 Million; and physical office in Mauritius

Multi Family Office

  • A minimum of 3 professional residents, including a fund/asset manager
  • Asset under management of more than USD 5 Million for each family; and physical office in Mauritius.


  • Incentives
  • Corporate tax residency in Mauritius
  • Work and live permit for immediate family members in Mauritius
  • Tax holidays for 5 years for income derived by the Overseas Family Office (corporate tax)
  • Eligibility to acquire immovable properties in Mauritius


  • The Resident Permit
  • Residence permit is granted upon licensing of the family office
  • Spouse, children up to the age of 24 and common-law partner, are also eligible to apply for a residence permit
  • For an individual to be considered as a ‘resident’ for tax purposes, there is a requirement for a minimum stay of 183 days per calendar year in Mauritius




  1. Global Legal Advisory Service Licence

This license has been introduced for foreign law firms who wish to set up their regional offices and operations in Mauritius to provide legal services in Mauritius on complex corporate and financial transactions, corporate law, taxation law, international and foreign law, as well as arbitration and mediation services.

These foreign law firms will be required to set up an entity physically in Mauritius in 1 order to be granted the Global Legal Advisory Services licence, subject to meeting certain prerequisites. Holders of such licences will be subject to regulation by the FSC.