Licensing FAQs
The FSC issues licences under the Financial Services Act, the Captive Insurance Act, the Insurance Act, the Private Pension Schemes Act, the Securities Act, and the Virtual Asset and Initial Token Offering Services Act.
Please refer to the Codified List issued under the Financial Services (Consolidated Licensing and Fees) 2008 Codified list of Licences / Authorisations / Approvals / Recognitions / Registrations for a complete list of licences:
All applications for a licence to the FSC, should be submitted through the FSCOne Platform.
The FSCOne Platform is the online portal for submitting applications.
Access the FSCOne Platform through the link below:
https://fsc1.fscmauritius.org/
For existing users:- please login through your existing account to submit your application.
For a new user: - create an account on the FSCOne Platform. Look for options such as “Sign Up” or “Create an Account.”
The FSC no longer accepts paper-based applications. All applications have to be made online through the FSCOne Platform.
Yes, all the above mentioned applications have to be submitted through the FSCOne Platform.
All documents should be duly signed and submitted in certified true copy on the FSCOne Platform.
Applications for a GBC or an AU have to be submitted through a Management Company.
Yes, Management Companies are licensed by the FSC.
Yes
Yes. However, the majority of investment should be outside Mauritius.
No
Applicants may submit their applications for a domestic licence through the FSCOne Platform without consulting a Management Company.
The FSC does not provide advisory services. However, all information relating to application / licensing process are on the FSC’s website.
Application Forms and licensing Guidelines are available on the FSC’s website under the Licensing page.
You may refer to the Codified List which is on the FSC’s website for fees applicable for each type of licence.
You may refer to the Licensing Criteria / Legal Framework which is available on the FSC’s website. You may also consult a licensed Management Company (list of same is available under ‘Register of Licensee’ on the FSC website) or a legal expert for guidance.
- (i) Qualified Trustee;
- (ii) Enforcer; and
- (iii) Successor to Enforcer
Yes, the FSC approves Secretary to Foundation under Section 13(1)(b) of the Foundation Act 2012.
The timeframe for obtaining a licence depends on the completeness of the application. Once you submit a complete application with all the required documents, the FSC will review same for approval. The process may vary based on the type of application and the complexity of the application.
However, delays may occur if the application is incomplete or additional documentation is required. It is important to ensure that all information is accurate and that the required documents are duly signed and certified to help expedite the process.
A complete application is an application which satisfies the requirements referred to in section 16 of the Financial Services Act and any Guidelines issued by the FSC.
The processing time depends on the type and complexity of application submitted to the FSC. Each application is assessed on its own merit.
There could be many reasons for an application to be delayed. The most recurrent reasons are:-
- the business plan submitted is not to the satisfaction of the FSC;
- customer due diligence (“CDD”) documents submitted are incomplete;
- documents submitted are not certified;
- the utility bill date is not filled in the text box provided;
- target sector is often misinterpreted as target market; and
- Inconsistencies in the documents submitted, e.g the information filled on the FSCOne Platform does not tally with the CDD and business plan submitted.
Find the option to "Create a Ticket" on the FSCOne Platform and provide a clear and detailed description of the issue or inquiry regarding your application. The FSC Helpdesk will revert in due course or you can contact the FSCOne platform helpdesk hotline on +230 404 5606
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.
Prospective investors just need to book an appointment through the FSC Single Window which is available on the FSC’s Website, and meet relevant experts from the FSC, the Economic Development Board (“EDB”) and the Corporate and Business Registration Department (“CBRD”) respectively to discuss their needs. This may include:
- a. Licencing requirements from the FSC;
- b. Incorporation needs with the CBRD; and
- c. Occupational permit requirements and other related investment needs from the EDB.
All communications are made via the FSCOne Platform.
The Applicant will be informed by e-mail and the original licence / approval may be collected at the Reception Desk of the FSC.