Expertise

Financial Services & Regulatory

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Most of the regulatory questions our clients face are not really questions about the rules. They are questions about whether a business model can be built in Mauritius at all, how long authorisation will take, and what the regulator will want to see before it says yes.

We advise promoters, financial institutions and operating businesses across the full licensing lifecycle — from an early view on whether a proposed activity falls inside the regulatory perimeter, through the application itself, to the governance and control framework the licence will require you to operate.

Testing whether an activity falls inside the regulatory perimeter.

Who we advise

Payment businesses and fintech promoters entering the Mauritian market
Fund managers and investment advisers seeking FSC authorisation
Banks, insurers and licensed intermediaries
Corporate groups establishing treasury or shared-services platforms
Investors acquiring interests in already-licensed entities

Capabilities

What we do

7 capabilities · 6 representative matters

Licence perimeter and feasibility analysis before an application is committed to
FSC licence applications, business plans and supporting documentation
Transaction flow analysis and outsourcing arrangements for payment models
Governance, internal control and AML/CFT frameworks required at licensing
Responses to FSC queries, comments and conditions
Change-of-control analysis: whether a share transaction needs FSC approval or notification
Post-licensing regulatory maintenance and variation of licence conditions

Representative experience

Selected matters.

Payment Intermediary Services licence applications

Assisted with multiple Payment Intermediary Services licence applications before the Financial Services Commission, including business plan drafting, transaction flow analysis, governance arrangements, outsourcing, AML/CFT frameworks, internal control documentation and responses to FSC queries.

Practice
Financial Services & Regulatory
Geography
Mauritius
Type
Licensing
Industry
Payments and fintech
Licensing documentation for cross-border payment businesses

Prepared and refined licensing documentation for payment businesses operating across payment processing, payment gateway, remittance, payout, merchant onboarding, API-routing, liquidity management and cross-border disbursement models.

Practice
Financial Services & Regulatory
Geography
Mauritius · Cross-border
Type
Licensing
Industry
Payments and fintech
Global Shared Services regulatory structuring

Assisted with Global Shared Services regulatory structuring, FSC notification strategy and preparation of constitutional and governance documentation for a Mauritius operating entity.

Practice
Financial Services & Regulatory
Geography
Mauritius
Type
Regulatory structuring
Industry
Corporate services
CIS Manager and Investment Adviser (Unrestricted) licensing

Assisted with the setup and licensing of entities applying for CIS Manager and Investment Adviser (Unrestricted) licences, including preparation of regulatory application documents, business plans, governance materials and FSC-facing submissions.

Practice
Financial Services & Regulatory
Geography
Mauritius
Type
Licensing
Industry
Asset management
Management, insurance broker and investment banking licences

Assisted with management licence, insurance broker licence and investment banking licence applications before the Financial Services Commission, including preparation and review of application documents and supporting regulatory materials.

Practice
Financial Services & Regulatory
Geography
Mauritius
Type
Licensing
Industry
Financial services
FSC approval analysis for share transactions in licensed entities

Prepared Mauritius law advice on whether proposed share transactions involving licensed entities required FSC approval or notification under the Financial Services Act.

Practice
Financial Services & Regulatory
Geography
Mauritius
Type
Regulatory advisory
Industry
Financial services

Reference

Licences we work with

A short reference on the authorisations most often relevant to our clients.

Asset Management: The Asset Management licence in Mauritius, issued by the Financial Services Commission, authorises firms to manage portfolios of securities, provide investment advice and handle client assets. In the absence of a formal regulatory definition, it is popular for managing both security and non-security assets.
Treasury Management: Treasury management involves managing liquidity, cash flows and financial risks such as foreign exchange or interest rate exposure. The full suite of activities which may be carried out by treasury management licensees is set out under the Financial Services (Treasury Management) Rules, issued by the Financial Services Commission in 2025.
Global Treasury: Global treasury activities are set out under the Financial Services Act. If more than three of the services are provided to more than three related entities, the definition of global treasury activities would be triggered. These activities include, but are not limited to, arrangements for derivatives, corporate finance advisory, credit administration and control, factoring, forfeiting and re-invoicing activities.
Global Shared Services: Where a company incorporated in Mauritius has as its purpose the provision of global shared services to its related entities, the requirement to apply for this licence under the Financial Services Act and the Financial Services (Global Shared Services) Rules 2022 will be triggered. Global shared services include record keeping, preparation of financial statements, other administrative filings and tax support services.
Factoring: Factoring involves purchasing receivables or invoices from businesses at a discount and assuming responsibility for collection. This provides immediate liquidity to businesses, and such activities may fall under the regulatory scope of the Financial Services Commission depending on the structure. Both factoring and reverse factoring may be covered by the regulatory requirements.
Payment Intermediary Services: Payment intermediary services involve facilitating payment transactions between customers, merchants and financial institutions. Providers may process electronic payments, operate payment gateways, or handle fund transfers. These services require regulatory authorisation due to anti-money laundering, counter-terrorist financing and consumer protection considerations.
Family Office: A Family Office Licence authorises an entity to provide family office services, including the administration and management of investments, assets, estates and wealth planning for high-net-worth families. Under the Financial Services (Family Office) Rules 2020, a licensee may operate as a Single Family Office or Multiple Family Office and may only provide services to “family clients”.
Investment Banking: Investment banking activities typically include underwriting securities, arranging capital raising, advising on mergers and acquisitions, and structuring financial transactions. In Mauritius the investment banking licence was originally issued by the Bank of Mauritius; following legislative amendments, the licence is now issued by the Financial Services Commission in line with the Financial Services Act and the Financial Services (Investment Banking) Rules 2016.