FSC Single Window

FSC Single Window
Overview

The FSC Single Window was inaugurated on 21 July 2022 and was launched in collaboration with the Economic Development Board (EDB) and the Corporate and Business Registration Department (CBRD) to keep pace with the rapid evolution of the Financial Services sector. 


The FSC is further committed to improve business processes and provide continuous solutions to reduce lead time and streamline procedures for ease of doing business.


The FSC Single Window facilitates applications for financial activities licences with the FSC. It aims to create simpler, user-friendly process to serve Financial Institutions, Corporates and High Net Worth Individuals.

Financial Services Commission

Authorisation

Licensing Criteria/Fees
Economic Development Board

Setup a Business
CBRD

Reservation of Name

Register a Business

Mauritius is the leading country in terms of ease of doing business in Africa and the FSC Single Window is the next step towards bringing innovation in this direction. In line with the Blueprint for the Financial Services sector, the FSC Single Window aims to create simpler, user-friendly process to serve Financial Institutions, Corporates and High Net worth Individuals. It is a single point of contact providing an expeditious digital channel to meet the demands of investors under one roof adding thereby further comfort in using our jurisdiction as a hub for their investments. 

 

The FSC Single Window facility can benefit both local and foreign investors willing to invest in the non-banking Financial Services sector. Prospective investors just need to book an appointment through FSC Single Window and meet relevant experts from the FSC, the EDB and the CBRD respectively to discuss their needs. This may include:

 

1)   Licencing requirements from the FSC;

2)   Incorporation needs with the CBRD; and

3)   Occupational permit requirements and other related investment needs from the EDB.  

 

Several benefits are to be derived from the FSC Single Window which include: 

 

1)   Avoidance of hassle for booking multiple appointments;

2)   Improved connectivity;

3)   Time reduction for processing documents; and

4)   Reduction in clearance time to set up a business in Mauritius.

 

Officers at the FSC Single Window will engage with the investors at its dedicated Office located on the 1st Floor, FSC House, 54 Cybercity Ebene, Mauritius.   

 

This initiative is a result of a Memorandum of Understanding (‘MOU’) signed by the FSC, EDB and CBRD on 21 July 2022. The MOU lays down the foundations for an effective collaboration between the FSC, EDB and CBRD to facilitate conduct of business in the Financial Services sector.

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FAQs

Please click on this link for FAQs on FSC licences.

  1. Starting a business in Mauritius

 

Starting a business in Mauritius is hassle-free and takes a minimum of one working day. Whether you are abroad or in Mauritius, the Corporate and Business Registration Department (CBRD) will be your one-stop-shop for starting a business and it offers a variety of options in terms of category, nature, and type of company.

A non-regulated activity does not require any licence or clearance to start operations as opposed to a regulated activity which requires a clearance/licence from the relevant public sector agency prior to the start of operations or within a defined timeframe, after operations have started.

You will be required to register on the following link https://companies.govmu.org/ to start the procedures to set up a company.

Please click on the following link for more details on how to set up a business: https://www.edbmauritius.org/info-centre

 

  1. Cost of Doing Business in Mauritius

 

The main costs associated with Setting up a Company and Doing Business include business registration fees, work permits, trade fees, licenses, immovable property for business purposes, utility rates, taxation, and financial charges amongst others.

 

  1. Work and Live in Mauritius

 

If you wish to work and live in Mauritius, you may consider applying for an Occupation Permit (OP) which is a combined work and residence permit that allows foreign nationals to work and reside in Mauritius under three specific categories namely:

 

  1. Investor
  2. Professional
  3. Self-Employed

 

An Occupation Permit and a Residence Permit are issued for a maximum period of ten years, renewable thereafter as per established criteria.

Dependents of an OP or RP holder may also apply for a residence permit for a duration not exceeding that of the main holder.

 

 

  1. Eligibility for Permanent Residency in Mauritius

 

The Permanent Residence Permit (PRP) is a 20-year residency, open to investors, retirees, professionals, self-employed entrepreneurs, and their family. This may be obtained under different conditions and is renewable for another 20 years, provided the residency requirements have been fulfilled.

 

There are two roots to obtaining the Permanent Residency Status in Mauritius which are as follows:

 

  1. A foreigner who has held at least 3 years of residency with the following satisfactory criteria:

 

Investor

  • achieving an annual gross income of at least MUR 15 million for 3 consecutive years preceding the application for the Permanent Residence Permit application

or

  • achieving an aggregate turnover of MUR 45 million for any consecutive period of 3 years preceding the Permanent Residence Permit application

 

Professional

  • receiving a monthly basic salary of at least MUR 150,000 for 3 consecutive years preceding the Permanent residency application.

 

Self-employed

  • achieving an annual business income of at least MUR 3 million for 3 consecutive years, immediately preceding the Permanent residency application.

 

Note: A non-citizen holding an OP/RP for at least 3 years and whose OP/RP is valid on 1 September 2020 is eligible for a 20-year PRP. The eligibility conditions will be that of OP/RP criteria for renewal.

 

  1. A foreign investor who invests at least USD 375,000 in a qualifying business activity is eligible to apply for a permanent residence permit. The qualifying activities are as follows: Agro-based industry, Audio-visual, Cinema and Communication, Banking, Construction, Education, Environment-friendly and green energy products, Financial Services, Fisheries and Marine Resources, Freeport, Information Technology, Infrastructure, Insurance, Leisure, Manufacturing, Marina development, Tourism and Warehousing, Initial Public Offerings.

 

  1. Acquiring a property in Mauritius

 

Non-citizens and expats can acquire high-end and luxury apartments, villas, penthouses, duplexes and townhouses under approved schemes by the Economic Development Board such as:

 

  • Integrated Resort Scheme (IRS)
  • Real Estate Scheme (RES)
  • Property Development Scheme (PDS)
  • Smart City Scheme (SCS)
  • Local Apartments (G+2)

 

The property can be bought off plan, during or after construction. The main benefits an investor would gain in buying under such schemes are: a residence permit in Mauritius (minimum investment USD 375,000) for the buyer and his dependents, which is valid as long as he retains the ownership of the property; the opportunity to sell the property with no minimum selling price restriction; the opportunity to rent the property; the possibility to elect tax residency in Mauritius; no restriction on the repatriation of funds or revenue raised from the sale or renting of the residential property.

 

Eligible non-citizens (holders of residence permits) are allowed to acquire one plot of serviced land to build an individual house as per established architectural guidelines within a Smart City project, provided that the deed of sale is signed on or before 30 June 2024.

 

  1. Standard of living in Mauritius

While the answer depends largely on factors such as daily needs, lifestyle, habits and size of family, an indication of the expenses such as Accommodation, Food and Groceries, Monthly Utilities, and Transportation can be obtained on the following link: https://residency.mu/cost-of-living/

 

It is worthy to note that the 10th edition of the World Happiness Report has picked Mauritius as the happiest country to live in Africa. “The World Happiness Report is changing the conversation about progress and wellbeing. It provides important snapshots of how people around the world feel about the overall quality of their lives,” Christopher Barrington-Leigh.

 

Mauritius has been hailed as one of the best places in the world for remote working in 2022, thanks to its widely praised handling of the pandemic, 4G island-wide connectivity and free 12-month Premium Visa to meet the growing demand from international visitors looking to relocate to Mauritius for work, leisure or retirement. This initiative has attracted 1,500 individuals and families who have taken advantage of the opportunity to relocate to Mauritius as it delivers work-life balance through a developed and advanced infrastructure, making it an ideal location for those looking to maximise their business productivity and leisure time.

 

Thanks to the country’s effective and efficient handling of the global pandemic, Mauritius is now seen as a perfect destination for long-term relocation as it provides a Covid-secure environment in conjunction with economic, political and legal stability.

Please click on this link for FAQs

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