Mauritius forex licence for a prop firm: FSC, GBC, cost.

Mauritius has become the licence prop firms move to when they want a recognised regulator. Finance Magnates reported on 16 June 2026 that FundingPips, FundedNext’s FNmarkets, Hola Prime and Finotive Markets "secured Mauritius licences in recent months", many after starting with Comoros registrations, and contrasted the FSC, which "maintains a genuine public register", with the Comoros offshore authorities (Anjouan and Mwali).

A prop firm sells evaluations on simulated accounts and pays rewards from simulated results. Firms that take a Mauritius licence usually do so for a brokerage arm, platform access or a regulated name in the group. This page covers what is specific to Mauritius: the licence, the 2026 fee changes, company structures, tax, banking, the website and when Mauritius is the wrong choice. Figures were checked on 12 October 2026.

Does a prop firm need a Mauritius forex licence?

We found no FSC statement about prop trading, funded accounts or simulated evaluations as of 12 October 2026. The licences prop firms have taken are Investment Dealer licences under the Securities Act 2005, which cover real dealing. An evaluation-only firm that does not route client orders or hold client money does not obviously fall into that category, but whether your product is "dealing" is a question for a Mauritius lawyer.

What changes the answer: running live funded accounts in the trader’s name, taking deposits traders can withdraw, offering a CFD brokerage beside the prop brand, or giving trading advice. Each of those points towards an Investment Dealer (or Investment Adviser) licence. See is a prop firm a broker for the general distinction.

Why are prop firms taking Mauritius licences?

Finance Magnates linked the move to doubts over Comoros licences and to MetaQuotes: when MetaQuotes tightened its rules on prop-firm white labels in early 2024, firms looked for a route to licensing MetaTrader directly, first through the Comoros and then through recognised regulators. It also cited Mauritius’ "tax advantages, treaty access and a recognised framework". TradeInformer reported that Fundingpips Ltd was granted an SEC-2.1B Investment Dealer (Full Service Dealer excluding Underwriting) licence on 8 June 2026.

What the licence does not do: it does not make a simulated evaluation a regulated product, and it does not authorise marketing to residents of the EU, UK, US or Australia. Keep the licensed brokerage and the evaluation business clearly separated on the website and in the terms. If platform access is the only goal, compare the cost with a white label first.

What does an FSC Investment Dealer licence cost?

The FSC replaced its fee schedules through the Financial Services (Consolidated Licensing and Fees) (Amendment) Rules 2026 (GN No. 119 of 2026), made on 29 June 2026 and in force from 1 July 2026. In a communiqué of 10 July 2026 the FSC said processing fees had been unchanged since 2008 and annual fees since 2019. USD figures apply to GBL holders; non-GBL applicants pay the rupee amounts.

• Other requirements (Sovereign Group): fit-and-proper shareholders, directors and key staff; professional indemnity cover for Full Service dealers; a compliance officer, MLRO and deputy MLRO; economic substance for a GBC.
• A management company administers the GBC; the FSC’s Management Licence fixed annual fee is now USD 6,800, which is what management companies themselves pay and pass on in their fees.

How do you set up a company in Mauritius?

Companies are registered with the Corporate and Business Registration Department (CBRD). Three vehicles matter for a prop firm:

• Formation agent Expanship publishes Authorised Company packages of USD 2,849 (about 10 days) and USD 3,799 (about 7 days), including government fees and a first-year registered agent.
• Expanship estimates 6–12 weeks to a GBC certificate and 10–18 weeks to a usable company with a bank account; FSC licence processing alone it puts at 4–8 weeks.
• Compare these with other places in prop firm company formation cost.

Banking and payments in Mauritius

A GBC must keep its principal bank account in Mauritius, so local banking is a licence condition, not an option. Expanship names SBM, MCB, AfrAsia and ABSA among the banks GBCs use and allows two to six weeks for account opening. Expect the bank and your management company to review the evaluation model, payout flows and card processing in detail.

Card acquiring for evaluation fees still usually goes through high-risk acquirers and orchestration layers such as Paytiko or BridgerPay; crypto challenge payments through Match2Pay or NOWPayments; and payouts through providers covered in prop firm payout providers. A recognised regulator in the group can make those conversations easier; it does not guarantee approval.

What tax does a Mauritius prop firm pay?

PwC’s summary (last reviewed 15 June 2026) lists a flat 15% corporate rate. Companies, including GBCs, can claim an 80% partial exemption on certain specified foreign-source income, without a foreign tax credit on that income. A Fair Share Contribution of 5% on chargeable income above MUR 24 million applies from 1 July 2025 to 30 June 2028, but not to GBL holders.

Whether evaluation fees qualify for any exemption, and how substance rules apply to your GBC, are questions for a Mauritius tax adviser.

What must a Mauritius prop firm’s website show?

The Data Protection Act 2017 has been in force since 15 January 2018. Controllers and processors must register with the Data Protection Office, and failing to register can mean a fine of up to MUR 200,000 (DLA Piper). Use the website checklist for the full page list.

• Entity disclosure for each company: name, number, registered address and, only for the licensed entity, the FSC licence category and number.
• A clear split between simulated evaluations and any licensed brokerage, so traders can see which entity provides what.
• A simulated-trading notice and a restricted-countries list enforced at checkout and KYC; see sanctions and restricted countries.
• Privacy policy and cookie banner meeting the Data Protection Act 2017 and your largest markets; register as a controller before launch.
• Languages: English and French are both used in business in Mauritius; launch in your traders’ languages.

When should you not choose Mauritius?

• You only sell simulated evaluations and have no brokerage plan: two resident directors, a management company and annual FSC fees are overhead you may not need.
• You need to launch in weeks: a GBC with a bank account is a 10–18 week project on agent estimates, before any dealer licence.
• You cannot fund capital and staff: MUR 1 million stated capital, a compliance officer, MLRO and indemnity cover are the floor for a Full Service dealer.
• You want the cheapest possible company: compare Seychelles or St Vincent, knowing the banking trade-offs.

Launch steps, in order

1. Choose the structureDecide whether you need an Authorised Company (no licence) or a GBC with an Investment Dealer licence for a brokerage arm. Ask a Mauritius lawyer to confirm the evaluation business can sit outside the licence.
2. Appoint a management companyA GBC must be administered by a licensed management company; it prepares the FSC application and supplies resident directors if needed.
3. Prepare the FSC fileBusiness plan, fit-and-proper forms, compliance officer, MLRO and deputy MLRO, AML manual, capital evidence and platform details.
4. Incorporate and open the bank accountAfter FSC approval, incorporate with the CBRD and open the principal Mauritian account; allow two to six weeks for the bank.
5. Register for data protectionRegister as a controller with the Data Protection Office before you process trader data.
6. Launch with separated websites or sectionsShow which entity sells evaluations and which entity is licensed, with simulated-trading notices and restricted countries.
7. Budget the annual cycleFrom 1 July 2026: USD 2,600 GBL fee, USD 3,400 for a Full Service (excl. Underwriting) dealer, Rs 18,000 registry fee, plus management, audit and staff.

Providers worth a look

From our dataset of prop-firm technology vendors, each fact checked on the vendor’s own site. Listed for fit, not ranked.

Your website, whatever platform you choose

Every route on this page still needs a marketing website: the pricing table, rules, payouts, FAQ, legal pages and the checkout hand-off to your platform. Platforms and white labels run the dashboard; they don’t build that site. PipValley does, for any platform, from $1,490 (pricing, launch service, what the site includes).

Questions

Sources

1. Finance Magnates: The Comoros was just a layover, prop firms are landing in Mauritius (Jun 2026) checked 12 Oct 2026
2. TradeInformer: Funding Pips secures securities dealer licence in Mauritius (Jun 2026) checked 12 Oct 2026
3. Sovereign Group: Investment dealer licence Mauritius checked 12 Oct 2026
4. FSC Mauritius: Financial Services (Consolidated Licensing and Fees) (Amendment) Rules 2026, GN 119 of 2026 checked 12 Oct 2026
5. FSC Mauritius: Communiqué on the licensing fee realignment (10 Jul 2026) checked 12 Oct 2026
6. CBRD Mauritius: Incorporation of a company checked 12 Oct 2026
7. CBRD Mauritius: Fees payable to the Registrar (2026) checked 12 Oct 2026
8. Expanship: Mauritius incorporation pricing checked 12 Oct 2026
9. Expanship: Timeline to incorporate a company in Mauritius checked 12 Oct 2026
10. PwC Worldwide Tax Summaries: Mauritius corporate taxes checked 12 Oct 2026
11. DLA Piper: Data protection laws of the world, Mauritius checked 12 Oct 2026