The reference library.

FSC · FS-1.1

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Financial Services Act 2007 · Section 14 · Second Schedule Part I

What it permits

Run a Mauritius asset-management shop: take a mandate over a named client’s investment portfolio, take the investment decisions (or implement agreed instructions), and leave dealing, custody and any collective scheme to the licences that actually cover those desks. The Second Schedule names the activity; the licence letter specifies the book.

Permitted activities (statute)

The shop is portfolio management for a named client who is not a CIS. Client assets sit with a custodian or in the client’s own account. Orders go through a dealer. The manager does not, by this listing, own the client’s money, operate a pooled fund, or fill tickets as a broker.

Financial Services Act section 2: “financial services” means any financial services or financial business activities governed by the relevant Acts, and includes the financial business activities specified in Part I of the Second Schedule.

Second Schedule Part I lists “Assets management” as a financial business activity. The Schedule names the activity; it does not add a further statutory definition of the book of business. What is permitted is the business activity specified on the licence under section 18(1), read with any FSC Rules and the published criteria for this code.

The Act does not define “assets management” beyond that listing. Do not read a CIS manager’s book (Securities Act section 98) or an investment-adviser book (Securities Act section 30) into this code. What the holder may do is the activity specified on the FS-1.1 licence under section 18(1).

Licensing conditions (statute)

The application file has to show who owns the manager, who takes the investment decisions, where client assets sit, and how the firm treats clients fairly and keeps AML records. The Commission writes the operational terms onto the licence. The published criteria are a checklist, not a substitute for those sections.

Section 14(1): “No person shall carry out, or hold himself out as carrying out, in Mauritius any financial services without a licence issued by the Commission.” Section 14(2): contravention is an offence, a fine not exceeding one million rupees and imprisonment for a term not exceeding 8 years.

Section 16(1): an application must be in such form and manner as FSC Rules specify and accompanied by “(a) a business plan or feasibility study outlining the proposed business activity of the applicant; (b) particulars and information relating to customer due diligence verification of promoters, beneficial owners, controllers and proposed directors …; (c) such fees as may be specified in FSC Rules; and (d) such other information as may be specified in FSC Rules or otherwise required by the Commission”.

Section 18(1): the Commission may issue a licence “authorising the applicant to carry out the business activity specified in the licence on such terms and conditions as may be specified in FSC Rules or as it deems appropriate in the circumstances.” Section 18(2) forbids a grant unless, among other things, the application complies with the law, the applicant has “adequate resources, infrastructure, staff with the appropriate competence, experience and proficiency”, adequate arrangements to supervise everything done under the licence, fit-and-proper controllers and beneficial owners, and “no prejudice would be caused or would ensue to the financial services industry”. Section 18(3): the holder “shall, at all times, continue to satisfy the requirements specified in subsection (2)”.

Section 25: the Commission may, by written notice, vary a licence. It must not restrict the authorised activity or include further conditions unless it has notified the licensee of the proposal and the reasons and given a reasonable opportunity to make representations.

Part V ongoing obligations of licensees still attach: record keeping (section 29) and audited financial statements (section 30), unless a specific exemption is granted. A circular or a criteria PDF does not rewrite those sections.

Published FS-1.1 criteria on the 1 July 2026 directory are guidance: business plan, ownership, officers, internal controls and AML/CFT arrangements. They neither derogate from nor restrict the Commission’s statutory powers.

Who may hold it

A person who applies to the Commission for a financial-services licence under section 14. In practice the applicant is a body that can meet the published criteria, fit-and-proper and substance tests in section 18(2).

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Open the Licensing Criteria column for FS-1.1 on the 1 July 2026 codified list. Expect a business plan, ownership, officers, internal controls and AML/CFT arrangements; the Commission may ask for more.

Fees as at 1 July 2026

Processing fee Rs 22,500 (USD 1,000). Fixed annual fee Rs 52,000 (USD 1,900). Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not a CIS manager (SEC-4.2), not an investment adviser (SEC-2.4/2.5), not a family office (FS-1.15/1.16), and not a Global Business Licence (FS-4.1).

Status at cut-off

Published directory category as at 1 July 2026. Operational conditions remain those on the licence letter.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Financial Services Act 2007 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗Securities Act 2005 ↗

FSC · FS-1.2

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Financial Services Act 2007 · Section 14 · Second Schedule Part I

What it permits

Distribute financial products as a licensed financial service under section 14. The Schedule names “Distribution of financial products”; the licence letter is the permitted book. Distribution is not discretionary management and not dealing as principal on an exchange.

Permitted activities (statute)

Financial Services Act section 2: “financial services” means any financial services or financial business activities governed by the relevant Acts, and includes the financial business activities specified in Part I of the Second Schedule.

Second Schedule Part I lists “Distribution of financial products” as a financial business activity. The Schedule names the activity; it does not add a further statutory definition of the book of business. What is permitted is the business activity specified on the licence under section 18(1), read with any FSC Rules and the published criteria for this code.

The Act does not further define the distributing book. A placing or marketing activity specified on the licence is not, by that listing alone, an investment-dealer licence (Securities Act section 29), a CIS manager licence (section 98) or a crowdfunding licence (FS-1.19). Foreign-scheme recognition under Securities Act section 101 remains a question for the scheme, not for the distributor’s FS-1.2 letter.

Licensing conditions (statute)

Section 14(1): “No person shall carry out, or hold himself out as carrying out, in Mauritius any financial services without a licence issued by the Commission.” Section 14(2): contravention is an offence, a fine not exceeding one million rupees and imprisonment for a term not exceeding 8 years.

Section 16(1): an application must be in such form and manner as FSC Rules specify and accompanied by “(a) a business plan or feasibility study outlining the proposed business activity of the applicant; (b) particulars and information relating to customer due diligence verification of promoters, beneficial owners, controllers and proposed directors …; (c) such fees as may be specified in FSC Rules; and (d) such other information as may be specified in FSC Rules or otherwise required by the Commission”.

Section 18(1): the Commission may issue a licence “authorising the applicant to carry out the business activity specified in the licence on such terms and conditions as may be specified in FSC Rules or as it deems appropriate in the circumstances.” Section 18(2) forbids a grant unless, among other things, the application complies with the law, the applicant has “adequate resources, infrastructure, staff with the appropriate competence, experience and proficiency”, adequate arrangements to supervise everything done under the licence, fit-and-proper controllers and beneficial owners, and “no prejudice would be caused or would ensue to the financial services industry”. Section 18(3): the holder “shall, at all times, continue to satisfy the requirements specified in subsection (2)”.

Section 25: the Commission may, by written notice, vary a licence. It must not restrict the authorised activity or include further conditions unless it has notified the licensee of the proposal and the reasons and given a reasonable opportunity to make representations.

Part V ongoing obligations of licensees still attach: record keeping (section 29) and audited financial statements (section 30), unless a specific exemption is granted. A circular or a criteria PDF does not rewrite those sections.

Use the FS-1.2 criteria column. Product list, distribution agreements and complaints handling belong in the file; they are not implied by a company name. Section 18(1) still lets the Commission write terms onto the licence.

Who may hold it

A section 14 applicant able to show the products it will distribute, the issuers or funds behind them, and conduct-of-business controls required by section 18(2).

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Use the FS-1.2 criteria column. Product list, distribution agreements and complaints handling belong in the file; they are not implied by a company name.

Fees as at 1 July 2026

Processing fee Rs 13,500 (USD 700). Fixed annual fee Rs 49,000 (USD 1,600). Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not assets management (FS-1.1), not an investment dealer, not a CIS manager, and not crowdfunding (FS-1.19).

Status at cut-off

Published directory category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Financial Services Act 2007 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗Securities Act 2005 ↗

FSC · FS-1.3

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Financial Services Act 2007 · Section 14 · Second Schedule Part I

What it permits

Carry on the business of administering pension schemes as a licensed financial service. Second Schedule Part I lists “Pension scheme administrator”. The administrator’s fee business is distinct from the scheme’s own Private Pension Schemes Act permission.

Permitted activities (statute)

Financial Services Act section 2: “financial services” means any financial services or financial business activities governed by the relevant Acts, and includes the financial business activities specified in Part I of the Second Schedule.

Second Schedule Part I lists “Pension scheme administrator” as a financial business activity. The Schedule names the activity; it does not add a further statutory definition of the book of business. What is permitted is the business activity specified on the licence under section 18(1), read with any FSC Rules and the published criteria for this code.

Inserted into the Schedule by Act 15 of 2012. The listing authorises the commercial administration activity specified on the FS-1.3 licence. It does not licence the scheme. Scheme licences sit in the Private Pension Schemes Act sections 9, 10 and 12; an authorisation for a governing body or a long-term insurer to administer a scheme sits in section 27 of that Act (PPS-2.1 / PPS-2.2).

Licensing conditions (statute)

Section 14(1): “No person shall carry out, or hold himself out as carrying out, in Mauritius any financial services without a licence issued by the Commission.” Section 14(2): contravention is an offence, a fine not exceeding one million rupees and imprisonment for a term not exceeding 8 years.

Section 16(1): an application must be in such form and manner as FSC Rules specify and accompanied by “(a) a business plan or feasibility study outlining the proposed business activity of the applicant; (b) particulars and information relating to customer due diligence verification of promoters, beneficial owners, controllers and proposed directors …; (c) such fees as may be specified in FSC Rules; and (d) such other information as may be specified in FSC Rules or otherwise required by the Commission”.

Section 18(1): the Commission may issue a licence “authorising the applicant to carry out the business activity specified in the licence on such terms and conditions as may be specified in FSC Rules or as it deems appropriate in the circumstances.” Section 18(2) forbids a grant unless, among other things, the application complies with the law, the applicant has “adequate resources, infrastructure, staff with the appropriate competence, experience and proficiency”, adequate arrangements to supervise everything done under the licence, fit-and-proper controllers and beneficial owners, and “no prejudice would be caused or would ensue to the financial services industry”. Section 18(3): the holder “shall, at all times, continue to satisfy the requirements specified in subsection (2)”.

Section 25: the Commission may, by written notice, vary a licence. It must not restrict the authorised activity or include further conditions unless it has notified the licensee of the proposal and the reasons and given a reasonable opportunity to make representations.

Part V ongoing obligations of licensees still attach: record keeping (section 29) and audited financial statements (section 30), unless a specific exemption is granted. A circular or a criteria PDF does not rewrite those sections.

FS-1.3 criteria sit beside the Private Pension Schemes Act. Administration systems, records and AML/CFT controls are expected; scheme registration is a different application. Beneficiary-band fees on the directory are a fee fact, not a change of legal nature.

Who may hold it

A commercial administrator applying under section 14. Beneficiary counts drive a variable annual fee; they do not turn the administrator into the scheme.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. FS-1.3 criteria sit beside the Private Pension Schemes Act. Administration systems, records and AML/CFT controls are expected; scheme registration is a different application.

Fees as at 1 July 2026

Processing fee Rs 30,000 (USD 900). Fixed annual fee Rs 60,000 (USD 1,800). Variable annual fee by beneficiary bands: 10,001–15,000 Rs 14,000 (USD 450); 15,001–20,000 Rs 18,000 (USD 600); more than 20,000 Rs 21,000 (USD 700). Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not the pension scheme (PPS-1.1), not a governing-body administration authorisation (PPS-2.1), and not a long-term insurer authorised to administer (PPS-2.2).

Status at cut-off

Published directory category as at 1 July 2026. Duplicate pension-administrator directory rows were de-duplicated in the course inventory by code.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Financial Services Act 2007 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗Private Pension Schemes Act 2012 ↗

FSC · FS-1.5

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Financial Services Act 2007 · Section 14 · Second Schedule Part I

What it permits

Keep registers and process transfers of securities or fund units as a licensed registrar and transfer agent. Second Schedule Part I lists “Registrar and transfer agent”. The function is record-keeping, not custody of assets.

Permitted activities (statute)

Financial Services Act section 2: “financial services” means any financial services or financial business activities governed by the relevant Acts, and includes the financial business activities specified in Part I of the Second Schedule.

Second Schedule Part I lists “Registrar and transfer agent” as a financial business activity. The Schedule names the activity; it does not add a further statutory definition of the book of business. What is permitted is the business activity specified on the licence under section 18(1), read with any FSC Rules and the published criteria for this code.

The Act names the activity and does not further define the register-keeping book. A transfer-agency mandate specified on the licence is not CIS custody (Securities Act section 100), not a CIS administrator approval (section 99) and not reporting-issuer registration (section 86).

Licensing conditions (statute)

Section 14(1): “No person shall carry out, or hold himself out as carrying out, in Mauritius any financial services without a licence issued by the Commission.” Section 14(2): contravention is an offence, a fine not exceeding one million rupees and imprisonment for a term not exceeding 8 years.

Section 16(1): an application must be in such form and manner as FSC Rules specify and accompanied by “(a) a business plan or feasibility study outlining the proposed business activity of the applicant; (b) particulars and information relating to customer due diligence verification of promoters, beneficial owners, controllers and proposed directors …; (c) such fees as may be specified in FSC Rules; and (d) such other information as may be specified in FSC Rules or otherwise required by the Commission”.

Section 18(1): the Commission may issue a licence “authorising the applicant to carry out the business activity specified in the licence on such terms and conditions as may be specified in FSC Rules or as it deems appropriate in the circumstances.” Section 18(2) forbids a grant unless, among other things, the application complies with the law, the applicant has “adequate resources, infrastructure, staff with the appropriate competence, experience and proficiency”, adequate arrangements to supervise everything done under the licence, fit-and-proper controllers and beneficial owners, and “no prejudice would be caused or would ensue to the financial services industry”. Section 18(3): the holder “shall, at all times, continue to satisfy the requirements specified in subsection (2)”.

Section 25: the Commission may, by written notice, vary a licence. It must not restrict the authorised activity or include further conditions unless it has notified the licensee of the proposal and the reasons and given a reasonable opportunity to make representations.

Part V ongoing obligations of licensees still attach: record keeping (section 29) and audited financial statements (section 30), unless a specific exemption is granted. A circular or a criteria PDF does not rewrite those sections.

FS-1.5 criteria on the directory. Transfer-agency agreements and IT controls belong in the application file. Section 18(1) conditions on the licence letter remain the operational limit.

Who may hold it

A section 14 applicant with register systems, reconciliation controls and identified officers able to meet section 18(2).

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. FS-1.5 criteria on the directory. Transfer-agency agreements and IT controls belong in the application file.

Fees as at 1 July 2026

Processing fee Rs 10,000 (USD 400). Fixed annual fee Rs 36,000 (USD 1,000). Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not a CIS custodian (SEC-4.1), not a CIS administrator approval (SEC-4.3), and not a reporting issuer (SEC-4.4).

Status at cut-off

Published directory category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Financial Services Act 2007 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗Securities Act 2005 ↗

FSC · FS-1.6

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Financial Services Act 2007 · Section 14 · Second Schedule Part I

What it permits

Provide treasury-management services as a licensed financial service listed in Second Schedule Part I as “Treasury management”. The directory adds a variable fee by number of companies served. That count is a fee fact, not Part II global treasury.

Permitted activities (statute)

Financial Services Act section 2: “financial services” means any financial services or financial business activities governed by the relevant Acts, and includes the financial business activities specified in Part I of the Second Schedule.

Second Schedule Part I lists “Treasury management” as a financial business activity. The Schedule names the activity; it does not add a further statutory definition of the book of business. What is permitted is the business activity specified on the licence under section 18(1), read with any FSC Rules and the published criteria for this code.

Ordinary treasury management is a Part I activity. It is not “global treasury activities” in Part II, which require at least three specified services to at least three related corporations. It is not deposit-taking under the Banking Act.

Licensing conditions (statute)

Section 14(1): “No person shall carry out, or hold himself out as carrying out, in Mauritius any financial services without a licence issued by the Commission.” Section 14(2): contravention is an offence, a fine not exceeding one million rupees and imprisonment for a term not exceeding 8 years.

Section 16(1): an application must be in such form and manner as FSC Rules specify and accompanied by “(a) a business plan or feasibility study outlining the proposed business activity of the applicant; (b) particulars and information relating to customer due diligence verification of promoters, beneficial owners, controllers and proposed directors …; (c) such fees as may be specified in FSC Rules; and (d) such other information as may be specified in FSC Rules or otherwise required by the Commission”.

Section 18(1): the Commission may issue a licence “authorising the applicant to carry out the business activity specified in the licence on such terms and conditions as may be specified in FSC Rules or as it deems appropriate in the circumstances.” Section 18(2) forbids a grant unless, among other things, the application complies with the law, the applicant has “adequate resources, infrastructure, staff with the appropriate competence, experience and proficiency”, adequate arrangements to supervise everything done under the licence, fit-and-proper controllers and beneficial owners, and “no prejudice would be caused or would ensue to the financial services industry”. Section 18(3): the holder “shall, at all times, continue to satisfy the requirements specified in subsection (2)”.

Section 25: the Commission may, by written notice, vary a licence. It must not restrict the authorised activity or include further conditions unless it has notified the licensee of the proposal and the reasons and given a reasonable opportunity to make representations.

Part V ongoing obligations of licensees still attach: record keeping (section 29) and audited financial statements (section 30), unless a specific exemption is granted. A circular or a criteria PDF does not rewrite those sections.

FS-1.6 criteria: identify the clients, cash and FX activities, and why the business is not banking. Variable fee bands (51–250 / 251–500 / more than 500 companies) do not create licence classes.

Who may hold it

A section 14 applicant. Count of companies served is a fee fact, not a licence class.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. FS-1.6 criteria. Identify the clients, cash and FX activities, and why the business is not banking.

Fees as at 1 July 2026

Processing fee Rs 25,000 (USD 1,000). Fixed annual fee Rs 57,000 (USD 1,900). Variable: 51–250 companies Rs 18,000 (USD 600); 251–500 Rs 27,000 (USD 900); more than 500 Rs 36,000 (USD 1,200). Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not Global Treasury Activities (FS-1.9), not a bank, and not Payment Intermediary Services (FS-2.9).

Status at cut-off

Published directory category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Financial Services Act 2007 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗Banking Act 2004 ↗

FSC · FS-1.7

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Financial Services Act 2007 · Section 14 · Second Schedule Part I

What it permits

Provide custody of assets other than as a CIS custodian under the Securities Act. Second Schedule Part I lists “Custodian services (non-CIS)”. The directory name is express: non-CIS.

Permitted activities (statute)

Financial Services Act section 2: “financial services” means any financial services or financial business activities governed by the relevant Acts, and includes the financial business activities specified in Part I of the Second Schedule.

Second Schedule Part I lists “Custodian services (non-CIS)” as a financial business activity. The Schedule names the activity; it does not add a further statutory definition of the book of business. What is permitted is the business activity specified on the licence under section 18(1), read with any FSC Rules and the published criteria for this code.

The Schedule itself carves out CIS property. CIS custody is Securities Act section 100 (SEC-4.1). Remote-custodian recognition is Securities Act section 155(2)(xc). Virtual-asset custody is VAITOS Class R or, if still issuable, the separate FS-1.14 / 2019 digital-asset custodian rules. This code is the non-scheme safekeeping book specified on the licence.

Licensing conditions (statute)

Section 14(1): “No person shall carry out, or hold himself out as carrying out, in Mauritius any financial services without a licence issued by the Commission.” Section 14(2): contravention is an offence, a fine not exceeding one million rupees and imprisonment for a term not exceeding 8 years.

Section 16(1): an application must be in such form and manner as FSC Rules specify and accompanied by “(a) a business plan or feasibility study outlining the proposed business activity of the applicant; (b) particulars and information relating to customer due diligence verification of promoters, beneficial owners, controllers and proposed directors …; (c) such fees as may be specified in FSC Rules; and (d) such other information as may be specified in FSC Rules or otherwise required by the Commission”.

Section 18(1): the Commission may issue a licence “authorising the applicant to carry out the business activity specified in the licence on such terms and conditions as may be specified in FSC Rules or as it deems appropriate in the circumstances.” Section 18(2) forbids a grant unless, among other things, the application complies with the law, the applicant has “adequate resources, infrastructure, staff with the appropriate competence, experience and proficiency”, adequate arrangements to supervise everything done under the licence, fit-and-proper controllers and beneficial owners, and “no prejudice would be caused or would ensue to the financial services industry”. Section 18(3): the holder “shall, at all times, continue to satisfy the requirements specified in subsection (2)”.

Section 25: the Commission may, by written notice, vary a licence. It must not restrict the authorised activity or include further conditions unless it has notified the licensee of the proposal and the reasons and given a reasonable opportunity to make representations.

Part V ongoing obligations of licensees still attach: record keeping (section 29) and audited financial statements (section 30), unless a specific exemption is granted. A circular or a criteria PDF does not rewrite those sections.

FS-1.7 criteria. Identify the asset classes. If the assets are CIS property, this is the wrong code. Segregation and officers appropriate to non-scheme assets belong in the section 18 file.

Who may hold it

A section 14 applicant with safekeeping systems, segregation and officers appropriate to non-scheme assets.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. FS-1.7 criteria. Identify the asset classes. If the assets are CIS property, this is the wrong code.

Fees as at 1 July 2026

Processing fee Rs 31,000 (USD 900). Fixed annual fee Rs 71,000 (USD 1,700). Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not SEC-4.1 CIS Custodian, not SEC-7.1 remote custodian, not VA-1.3 virtual-asset custodian, and not the unresolved FS-1.14 digital-asset row.

Status at cut-off

Published directory category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Financial Services Act 2007 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗Securities Act 2005 ↗Virtual Asset and Initial Token Offering Services Act 2021 ↗

FSC · FS-1.8

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Financial Services Act 2007 · Section 14 · Second Schedule Part III

What it permits

Provide global headquarters administration to related corporations. The statutory definition is Part III of the Second Schedule: at least three listed services to at least three related corporations.

Permitted activities (statute)

Financial Services Act section 2: “financial services” means any financial services or financial business activities governed by the relevant Acts, and includes the financial business activities specified in Part I of the Second Schedule.

Section 2: “global headquarters administration” means the activities specified in Part III of the Second Schedule. Part III: “Provision of at least 3 of the following services to at least 3 related corporations — Administration and general management; Administration of e-commerce; Business planning and development and coordination; Economic or investment research and analysis; Services related to international corporate headquarters in Mauritius; Such other global headquarters administration services as may be specified in FSC Rules.”

The published FS-1.8 criteria PDF expressly points the business plan at Part III: promoters, services, related corporations and group structure. Headquarters administration is still a section 14 activity. It is not a Global Business Licence (section 72) and not Global Shared Services (section 77C).

Licensing conditions (statute)

Section 14(1): “No person shall carry out, or hold himself out as carrying out, in Mauritius any financial services without a licence issued by the Commission.” Section 14(2): contravention is an offence, a fine not exceeding one million rupees and imprisonment for a term not exceeding 8 years.

Section 16(1): an application must be in such form and manner as FSC Rules specify and accompanied by “(a) a business plan or feasibility study outlining the proposed business activity of the applicant; (b) particulars and information relating to customer due diligence verification of promoters, beneficial owners, controllers and proposed directors …; (c) such fees as may be specified in FSC Rules; and (d) such other information as may be specified in FSC Rules or otherwise required by the Commission”.

Section 18(1): the Commission may issue a licence “authorising the applicant to carry out the business activity specified in the licence on such terms and conditions as may be specified in FSC Rules or as it deems appropriate in the circumstances.” Section 18(2) forbids a grant unless, among other things, the application complies with the law, the applicant has “adequate resources, infrastructure, staff with the appropriate competence, experience and proficiency”, adequate arrangements to supervise everything done under the licence, fit-and-proper controllers and beneficial owners, and “no prejudice would be caused or would ensue to the financial services industry”. Section 18(3): the holder “shall, at all times, continue to satisfy the requirements specified in subsection (2)”.

Section 25: the Commission may, by written notice, vary a licence. It must not restrict the authorised activity or include further conditions unless it has notified the licensee of the proposal and the reasons and given a reasonable opportunity to make representations.

Part V ongoing obligations of licensees still attach: record keeping (section 29) and audited financial statements (section 30), unless a specific exemption is granted. A circular or a criteria PDF does not rewrite those sections.

FS-1.8 criteria PDF: formal application under section 14; fees; business plan against Part III; manuals and AML/CFT measures. The applicant “shall ensure that it has at all times two officers based full time in Mauritius and who are conversant with its operations.” It shall maintain at all times its principal bank account in Mauritius and adequate financial resources. The PDF states that the list is not exhaustive.

Who may hold it

A section 14 applicant serving related corporations, not the public at large as a bank or CIS manager. Part III is a related-corporation test, not a public-offer test.

Key criteria

Dedicated criteria PDF for FS-1.8. Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. The PDF lists a formal application, fees, business plan (promoters, services, related corporations, group structure), manuals and AML/CFT measures, two full-time officers in Mauritius, a Mauritius principal bank account, and states that the list is not exhaustive.

Fees as at 1 July 2026

Processing fee Rs 30,000 (USD 1,000). Fixed annual fee Rs 75,000 (USD 2,500). Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not a Global Business Licence, not Global Shared Services (FS-7.1), and not Global Treasury Activities (FS-1.9).

Status at cut-off

Published directory category as at 1 July 2026. Criteria PDF checked for this course.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Financial Services Act 2007 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗Licensing criteria — Global Headquarters Administration (FS-1.8) ↗

FSC · FS-1.9

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Financial Services Act 2007 · Section 14 · Second Schedule Part II

What it permits

Conduct global treasury activities for related corporations. The statutory definition is Part II of the Second Schedule: at least three listed treasury services to at least three related corporations.

Permitted activities (statute)

Financial Services Act section 2: “financial services” means any financial services or financial business activities governed by the relevant Acts, and includes the financial business activities specified in Part I of the Second Schedule.

Section 2: “global treasury activities” means the activities specified in Part II of the Second Schedule. Part II: “Provision of at least 3 of the following services to at least 3 related corporations — Arrangement for credit facilities, including credit facilities with funds obtained from financial institutions in Mauritius or from surpluses of network companies; Arrangement for derivatives; Corporate finance advisory; Credit administration and control; Factoring, forfeiting and re-invoicing activities; Guarantees, performance bonds, standby letters of credit and services relating to remittances; Management of funds for designated investments; Such other global treasury activity as may be specified in FSC Rules.”

The directory pairs FS-1.9 with FS-1.10 on the same fee level; the statutory books are different. Ordinary “Treasury management” remains a Part I activity (FS-1.6). A bank is a Banking Act person. Sixth Schedule lists global treasury among “global activities” for section 77C; the directory still cites section 14 for this code — record both locators and read the licence letter.

Licensing conditions (statute)

Section 14(1): “No person shall carry out, or hold himself out as carrying out, in Mauritius any financial services without a licence issued by the Commission.” Section 14(2): contravention is an offence, a fine not exceeding one million rupees and imprisonment for a term not exceeding 8 years.

Section 16(1): an application must be in such form and manner as FSC Rules specify and accompanied by “(a) a business plan or feasibility study outlining the proposed business activity of the applicant; (b) particulars and information relating to customer due diligence verification of promoters, beneficial owners, controllers and proposed directors …; (c) such fees as may be specified in FSC Rules; and (d) such other information as may be specified in FSC Rules or otherwise required by the Commission”.

Section 18(1): the Commission may issue a licence “authorising the applicant to carry out the business activity specified in the licence on such terms and conditions as may be specified in FSC Rules or as it deems appropriate in the circumstances.” Section 18(2) forbids a grant unless, among other things, the application complies with the law, the applicant has “adequate resources, infrastructure, staff with the appropriate competence, experience and proficiency”, adequate arrangements to supervise everything done under the licence, fit-and-proper controllers and beneficial owners, and “no prejudice would be caused or would ensue to the financial services industry”. Section 18(3): the holder “shall, at all times, continue to satisfy the requirements specified in subsection (2)”.

Section 25: the Commission may, by written notice, vary a licence. It must not restrict the authorised activity or include further conditions unless it has notified the licensee of the proposal and the reasons and given a reasonable opportunity to make representations.

Part V ongoing obligations of licensees still attach: record keeping (section 29) and audited financial statements (section 30), unless a specific exemption is granted. A circular or a criteria PDF does not rewrite those sections.

FS-1.9 criteria on the directory. Group structure and the three-services / three-related-corporations test belong in the plan. Do not apply the expired former investment-banking tax item to this licence.

Who may hold it

A section 14 applicant whose clients are related corporations as Part II contemplates.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. FS-1.9 criteria on the directory. Group structure and treasury services to related corporations belong in the plan. Count the Part II services; fewer than three, or fewer than three related corporations, is not this activity.

Fees as at 1 July 2026

Processing fee Rs 30,000 (USD 1,000). Fixed annual fee Rs 75,000 (USD 2,500). Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not ordinary treasury management (FS-1.6), not a bank, and not Global Legal Advisory Services (FS-1.10).

Status at cut-off

Published directory category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Financial Services Act 2007 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · FS-1.10

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Financial Services Act 2007 · Sections 77A and 77B

What it permits

Global legal advisory services as licensed under section 77A, not section 14. The statutory book is legal services pertaining to global business, international arbitration, corporate law, taxation law and foreign and international law.

Permitted activities (statute)

Section 77A(1): “an entity whose main activity is to provide legal services pertaining to global business, international arbitration, corporate law, taxation law and foreign and international law, shall apply to the Commission for a Global Legal Advisory Services licence.”

Section 77A(4): “this section shall not apply to a person authorised to provide legal services or give legal advice under the Law Practitioners Act.” Ordinary Mauritius law practice by admission is outside this licence.

Section 77B(1)–(2): a foreign-licensed law firm may apply. The Commission may grant where it is satisfied that the parent law firm is qualified, licensed or regulated to practise law in its home jurisdiction, that two foreign lawyers qualified in that jurisdiction are employed by or are part of the entity, and that the applicant has a physical establishment in Mauritius.

Licensing conditions (statute)

Section 77A(2): the application “shall be subject to the regulation of financial services under Part IV.” Sections 16 and 18 therefore still apply, with necessary modifications.

Section 77B(3): the Commission “may impose such terms and conditions as may be prescribed or as it deems appropriate before granting” the licence. Section 77B(4): on grant, the Commission informs the Attorney-General.

Section 16(1): an application must be in such form and manner as FSC Rules specify and accompanied by “(a) a business plan or feasibility study outlining the proposed business activity of the applicant; (b) particulars and information relating to customer due diligence verification of promoters, beneficial owners, controllers and proposed directors …; (c) such fees as may be specified in FSC Rules; and (d) such other information as may be specified in FSC Rules or otherwise required by the Commission”.

Section 18(1): the Commission may issue a licence “authorising the applicant to carry out the business activity specified in the licence on such terms and conditions as may be specified in FSC Rules or as it deems appropriate in the circumstances.” Section 18(2) forbids a grant unless, among other things, the application complies with the law, the applicant has “adequate resources, infrastructure, staff with the appropriate competence, experience and proficiency”, adequate arrangements to supervise everything done under the licence, fit-and-proper controllers and beneficial owners, and “no prejudice would be caused or would ensue to the financial services industry”. Section 18(3): the holder “shall, at all times, continue to satisfy the requirements specified in subsection (2)”.

Section 25: the Commission may, by written notice, vary a licence. It must not restrict the authorised activity or include further conditions unless it has notified the licensee of the proposal and the reasons and given a reasonable opportunity to make representations.

Directory fees match the headquarters/treasury band; the statutory section is 77A. Record the section on the file. A circular cannot move the activity back to section 14.

Who may hold it

An entity under section 77A, including a foreign-licensed law firm meeting section 77B(2). Directory fees match the headquarters/treasury band but the statutory section is different.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. FS-1.10 criteria on the directory. Professional qualifications, the two-foreign-lawyer test in section 77B(2)(b) and physical establishment in Mauritius must be taken from the Act, not from a letterhead.

Fees as at 1 July 2026

Processing fee Rs 30,000 (USD 1,000). Fixed annual fee Rs 75,000 (USD 2,500). Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not ordinary Mauritius law practice by admission, not FS-1.9 treasury, and not a management licence (FS-3.1A).

Status at cut-off

Published directory category as at 1 July 2026. Section 77A is the locator, not section 14.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Financial Services Act 2007 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · FS-1.11

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Financial Services Act 2007 · Section 14 · Second Schedule Part I

What it permits

Manage a funeral scheme as a licensed financial service listed in Second Schedule Part I. The 2016 Funeral Scheme Management Rules (GN 197, as amended) sit on top of Part IV of the Act.

Permitted activities (statute)

Financial Services Act section 2: “financial services” means any financial services or financial business activities governed by the relevant Acts, and includes the financial business activities specified in Part I of the Second Schedule.

Second Schedule Part I lists “Funeral Scheme Management” as a financial business activity. The Schedule names the activity; it does not add a further statutory definition of the book of business. What is permitted is the business activity specified on the licence under section 18(1), read with any FSC Rules and the published criteria for this code.

Financial Services (Funeral Scheme Management) Rules 2016, rule 4: no person shall carry out funeral scheme management business in Mauritius without a funeral scheme management licence issued by the Commission. Rule 3 applies the Rules to any person, excluding an association, carrying out that business.

The 2015 Rules defined a funeral scheme as an arrangement by which a person or group, in consideration for the advance payment of funeral services by a lump sum or instalments, enter into an agreement with a funeral scheme manager for the provision of funeral services at the time of their death. The 2016 Rules replace the 2015 instrument from 1 October 2016; read the 2016 definition in the Gazette text. The activity is not a private pension scheme and not long-term insurance.

Licensing conditions (statute)

Section 14(1): “No person shall carry out, or hold himself out as carrying out, in Mauritius any financial services without a licence issued by the Commission.” Section 14(2): contravention is an offence, a fine not exceeding one million rupees and imprisonment for a term not exceeding 8 years.

Section 16(1): an application must be in such form and manner as FSC Rules specify and accompanied by “(a) a business plan or feasibility study outlining the proposed business activity of the applicant; (b) particulars and information relating to customer due diligence verification of promoters, beneficial owners, controllers and proposed directors …; (c) such fees as may be specified in FSC Rules; and (d) such other information as may be specified in FSC Rules or otherwise required by the Commission”.

Section 18(1): the Commission may issue a licence “authorising the applicant to carry out the business activity specified in the licence on such terms and conditions as may be specified in FSC Rules or as it deems appropriate in the circumstances.” Section 18(2) forbids a grant unless, among other things, the application complies with the law, the applicant has “adequate resources, infrastructure, staff with the appropriate competence, experience and proficiency”, adequate arrangements to supervise everything done under the licence, fit-and-proper controllers and beneficial owners, and “no prejudice would be caused or would ensue to the financial services industry”. Section 18(3): the holder “shall, at all times, continue to satisfy the requirements specified in subsection (2)”.

Section 25: the Commission may, by written notice, vary a licence. It must not restrict the authorised activity or include further conditions unless it has notified the licensee of the proposal and the reasons and given a reasonable opportunity to make representations.

Part V ongoing obligations of licensees still attach: record keeping (section 29) and audited financial statements (section 30), unless a specific exemption is granted. A circular or a criteria PDF does not rewrite those sections.

2016 Rules: a statement of business handled during the financial year is due not later than six months after the close of the year (rule 5, without prejudice to section 30 of the Act). An actuarial audit of the solvency position is required once in every period of three years. The Third Schedule to the 2016 Rules excludes, among other things, derivatives and investments in virtual assets from admitted assets.

The directory prints rupee fees only for this row. Apply the general USD/GBL footnote only if the current schedule actually states it for this code.

Who may hold it

A section 14 applicant other than an association carved out by the 2016 Rules. The absence of a printed USD fee on this row is a directory fact, not a GBL prohibition.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. FS-1.11 criteria. Scheme rules, member records and safeguarding of contributions belong in the file. Solvency and admitted-asset tests are in the 2016 Rules, not in a slogan about “funeral cover”.

Fees as at 1 July 2026

Processing fee Rs 25,000. Fixed annual fee Rs 50,000. This row of the directory does not print a USD pair beside the rupee figures. Apply the general USD/GBL footnote only if the current schedule actually states it for this code. Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not a private pension scheme, not long-term insurance, and not a CIS.

Status at cut-off

Published directory category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Financial Services Act 2007 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗Financial Services (Funeral Scheme Management) Rules 2016 ↗Private Pension Schemes Act 2012 ↗Insurance Act 2005 ↗

FSC · FS-1.14

Inventory note: Directory/Gazette discrepancy: this entry does not appear in the replacement July 2026 schedule reviewed. Current availability needs reconciliation; this row is not proof of an available licence.

Legal nature

Licence (directory row; Gazette status unresolved)

Enabling law

Financial Services Act 2007 (directory family) · Financial Services (Custodian services (digital asset)) Rules 2019 · Directory row under Financial Service Providers; enabling section not printed on the 1 July 2026 web table; 2019 Rules made under section 93

What it permits

The FSC web directory still lists FS-1.14 “Custodian services (digital asset)”. The 2019 Rules still describe a safekeeping book. Neither fact, by itself, proves that the Commission currently issues the licence. Reconcile the directory, GN 119 and VAITOS Class R before anyone files.

Permitted activities (statute)

The FSA Second Schedule Part I reviewed for this course (including the GN 19 of 2024 spot-commodity insertions) does not list “Custodian services (digital asset)”. The activity is therefore not, on that print, a named Part I financial business activity.

Financial Services (Custodian services (digital asset)) Rules 2019, rule 4(1): “No person shall carry out custody services for digital asset in Mauritius without a Custodian services (digital asset) licence issued by the Commission.” Rule 4(3): “The objects of a custodian under these rules shall be limited to the safe-keeping of digital asset and operations arising directly from it.”

Rule 2: “custody” means the safekeeping of digital asset being held or transacted. “Digital asset” is defined there (token in electronic or binary form; digital representation of value used as a medium of exchange, representing debt or equity, or providing access to a blockchain-based application) and excludes loyalty value that cannot be exchanged for legal tender and in-game value.

VAITOS Class R (section 7) is a different statute. Non-CIS custody of ordinary assets is FS-1.7. Do not collapse the three.

Licensing conditions (statute)

2019 Rules, rule 4(2): application in accordance with Part IV of the Act (section 16 and section 18). Rule 5: a letter of intent may issue first; it is not a promise to grant. The applicant must, within six months of the letter of intent, demonstrate resources, infrastructure and staffing; the licence, if granted, requires commencement within six months.

Rule 6: an office in Mauritius from which core functions are performed, and a sufficiently senior representative in Mauritius. Rule 7: board of at least three directors, of which at least 30 per cent independent and one resident in Mauritius; registered office and place of business in Mauritius.

Directory fees (processing Rs 175,000 / USD 5,000; annual Rs 350,000 / USD 10,000) were not found in the GN 119 replacement First Schedule reviewed for this course. The criteria column on the 1 July 2026 directory page captured for the inventory is blank. Status remains unresolved.

Who may hold it

Unknown as an operational class until the directory/Gazette mismatch is reconciled. The 2019 Rules describe a custodian entity; do not invent an applicant type as currently issuable.

Key criteria

No dedicated criteria PDF is treated as current for this course. The directory criteria column for FS-1.14 is blank on the 1 July 2026 page captured for the inventory. VAITOS Class R has its own criteria. The 2019 Rules remain the last dedicated instrument describing the book.

Fees as at 1 July 2026

Directory: processing Rs 175,000 (USD 5,000); annual Rs 350,000 (USD 10,000). These figures were not found in the GN 119 replacement First Schedule reviewed for this course. Do not collect or quote them as a certified current Gazette fee without reconciling the schedule.

Neighbouring permissions

Not VA-1.3 Virtual Asset Custodian (Class R) under VAITOS section 7, and not FS-1.7 non-CIS custody.

Status at cut-off

Unresolved. The web directory lists the code; GN 119 as reviewed does not; Second Schedule Part I as reviewed does not. The 2019 Rules still exist. This row is not proof of an available licence and not proof of repeal.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Financial Services Act 2007 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗Financial Services (Custodian services (digital asset)) Rules 2019 ↗Virtual Asset and Initial Token Offering Services Act 2021 ↗FSC licensing and fees amendment rules 2026 ↗

FSC · FS-1.15

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Financial Services Act 2007 · Section 14 · Second Schedule Part I · Family Office Rules 2026

What it permits

Operate as a single family office for one family. Second Schedule Part I lists “Family Office (single)”. The 2026 Rules, Third Schedule, set the services; rule 5(1) confines them, by way of business, exclusively to a single family.

Permitted activities (statute)

Financial Services Act section 2: “financial services” means any financial services or financial business activities governed by the relevant Acts, and includes the financial business activities specified in Part I of the Second Schedule.

Second Schedule Part I lists “Family Office (single)” as a financial business activity. The Schedule names the activity; it does not add a further statutory definition of the book of business. What is permitted is the business activity specified on the licence under section 18(1), read with any FSC Rules and the published criteria for this code.

Financial Services (Family Office) Rules 2026, rule 5(1): “A Single Family Office may provide services, specified in the Third Schedule and such services shall be provided, by way of business, exclusively to a single family.” Third Schedule note (b) repeats that exclusivity.

Third Schedule Part I — core Family Office services: (1) investment oversight, policy support and portfolio management; (2) asset and investment holding activities; (3) asset and estate management including real estate management; (4) management of finance, accounting, cash flows and reporting.

Third Schedule Part II — ancillary services include governance and strategy; risk and resilience; tax and compliance; succession and wealth planning; administrative support; cybersecurity; design and supervision of family entities; lifestyle, concierge and coordination (including philanthropy and payments under a legally valid written mandate); and any other activities the Commission determines.

Note (a) to the Third Schedule: where the Commission determines that an activity under the Schedule has the effect of constituting a regulated financial service carried out without the relevant licence, it may take any action it deems appropriate. A family-office licence is not a silent CIS manager, dealer or VASP permission.

Licensing conditions (statute)

Section 14(1): “No person shall carry out, or hold himself out as carrying out, in Mauritius any financial services without a licence issued by the Commission.” Section 14(2): contravention is an offence, a fine not exceeding one million rupees and imprisonment for a term not exceeding 8 years.

Section 16(1): an application must be in such form and manner as FSC Rules specify and accompanied by “(a) a business plan or feasibility study outlining the proposed business activity of the applicant; (b) particulars and information relating to customer due diligence verification of promoters, beneficial owners, controllers and proposed directors …; (c) such fees as may be specified in FSC Rules; and (d) such other information as may be specified in FSC Rules or otherwise required by the Commission”.

Section 18(1): the Commission may issue a licence “authorising the applicant to carry out the business activity specified in the licence on such terms and conditions as may be specified in FSC Rules or as it deems appropriate in the circumstances.” Section 18(2) forbids a grant unless, among other things, the application complies with the law, the applicant has “adequate resources, infrastructure, staff with the appropriate competence, experience and proficiency”, adequate arrangements to supervise everything done under the licence, fit-and-proper controllers and beneficial owners, and “no prejudice would be caused or would ensue to the financial services industry”. Section 18(3): the holder “shall, at all times, continue to satisfy the requirements specified in subsection (2)”.

Section 25: the Commission may, by written notice, vary a licence. It must not restrict the authorised activity or include further conditions unless it has notified the licensee of the proposal and the reasons and given a reasonable opportunity to make representations.

Part V ongoing obligations of licensees still attach: record keeping (section 29) and audited financial statements (section 30), unless a specific exemption is granted. A circular or a criteria PDF does not rewrite those sections.

Rule 5(3)(a): “The net value of assets under management or administration of a Single Family Office shall, at all times, be at least USD 5 million.” Net asset value is determined on a fair-market-value basis or, where that cannot reasonably be determined, on a book-value basis.

Rule 4(7): an applicant must give the Commission a signed confirmation that source-of-funds and source-of-wealth verification has been conducted on the beneficial owner and that no funds of the Family Office are connected to the proceeds of crime, corruption or terrorist financing.

New applications follow the 2026 Rules from 1 June 2026 (GN 62). Existing 2020-rules licensees have a transitional path to 31 December 2026 (rule 16). The 2020 Rules are revoked from 1 June 2026 (GN 63). Tax item 30A is a different statute.

Who may hold it

A corporation within the 2026 Rules’ definition, serving one family. “Family” means a group of individuals connected in at least one of the ways specified in the First Schedule to the Rules.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Plus the 2026 Family Office Rules: family definition, Third Schedule services, USD 5 million NAV, employment/substance as the Rules require. Tax item 30A is a different statute.

Fees as at 1 July 2026

Processing fee Rs 100,500 (USD 2,500). Fixed annual fee Rs 161,000 (USD 4,000). Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not a multiple family office (FS-1.16), not Private Wealth Management (FSA-79B), and not a CIS manager.

Status at cut-off

Operational 2026 rules. Do not apply the revoked 2020 rules to a new application.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Financial Services Act 2007 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗Financial Services (Family Office) Rules 2026 ↗Economic and Financial Measures (Miscellaneous Provisions) Act 2026 ↗

FSC · FS-1.16

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Financial Services Act 2007 · Section 14 · Second Schedule Part I · Family Office Rules 2026

What it permits

Operate as a multiple family office for more than one family. Second Schedule Part I lists “Family Office (multiple)”. Rule 5(2) allows Third Schedule services to more than one family, subject to the limitations in the Rules.

Permitted activities (statute)

Financial Services Act section 2: “financial services” means any financial services or financial business activities governed by the relevant Acts, and includes the financial business activities specified in Part I of the Second Schedule.

Second Schedule Part I lists “Family Office (multiple)” as a financial business activity. The Schedule names the activity; it does not add a further statutory definition of the book of business. What is permitted is the business activity specified on the licence under section 18(1), read with any FSC Rules and the published criteria for this code.

Rule 5(2): “A Multiple Family Office may provide services specified in the Third Schedule and such services shall be provided to more than one family, by way of business, subject to the limitations set out in these Rules.” Third Schedule note (c) is the same point.

The core and ancillary lists in Third Schedule Parts I and II are the same lists as for a single family office. The difference is the number of families, not a second menu of products. Note (a) still applies: a regulated financial service done without its own licence is not cured by an MFO label.

Licensing conditions (statute)

Section 14(1): “No person shall carry out, or hold himself out as carrying out, in Mauritius any financial services without a licence issued by the Commission.” Section 14(2): contravention is an offence, a fine not exceeding one million rupees and imprisonment for a term not exceeding 8 years.

Section 16(1): an application must be in such form and manner as FSC Rules specify and accompanied by “(a) a business plan or feasibility study outlining the proposed business activity of the applicant; (b) particulars and information relating to customer due diligence verification of promoters, beneficial owners, controllers and proposed directors …; (c) such fees as may be specified in FSC Rules; and (d) such other information as may be specified in FSC Rules or otherwise required by the Commission”.

Section 18(1): the Commission may issue a licence “authorising the applicant to carry out the business activity specified in the licence on such terms and conditions as may be specified in FSC Rules or as it deems appropriate in the circumstances.” Section 18(2) forbids a grant unless, among other things, the application complies with the law, the applicant has “adequate resources, infrastructure, staff with the appropriate competence, experience and proficiency”, adequate arrangements to supervise everything done under the licence, fit-and-proper controllers and beneficial owners, and “no prejudice would be caused or would ensue to the financial services industry”. Section 18(3): the holder “shall, at all times, continue to satisfy the requirements specified in subsection (2)”.

Section 25: the Commission may, by written notice, vary a licence. It must not restrict the authorised activity or include further conditions unless it has notified the licensee of the proposal and the reasons and given a reasonable opportunity to make representations.

Part V ongoing obligations of licensees still attach: record keeping (section 29) and audited financial statements (section 30), unless a specific exemption is granted. A circular or a criteria PDF does not rewrite those sections.

Rule 5(3)(b): “The aggregate net value of assets under management or administration of a Multiple Family Office shall, at all times, be at least USD 25 million and the net value of assets under management or administration regarding each family in a Multiple Family Office shall, at all times, be at least USD 5 million.”

Rule 4(7) source-of-funds confirmation applies to the applicant. Transition for 2020-rules holders runs to 31 December 2026. Directory fees are higher than the single-family row; that is a fee fact, not a different Third Schedule.

Who may hold it

A corporation serving more than one family as the 2026 Rules allow. Count of families is a definitional fact, not a marketing slogan.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. 2026 Rules apply to new applications from 1 June 2026. USD 25 million aggregate NAV and USD 5 million per family are continuing conditions under rule 5(3)(b).

Fees as at 1 July 2026

Processing fee Rs 201,000 (USD 5,000). Fixed annual fee Rs 402,000 (USD 10,000). Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not FS-1.15, not FSA-79B, and not an investment adviser marketing to the public.

Status at cut-off

Operational 2026 rules, distinct from the single-family licence.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Financial Services Act 2007 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗Financial Services (Family Office) Rules 2026 ↗Economic and Financial Measures (Miscellaneous Provisions) Act 2026 ↗

FSC · FS-1.17

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Financial Services Act 2007 · Section 14 · Second Schedule Part I

What it permits

Operate a peer-to-peer lending platform as a licensed financial service. Section 2 defines the activity. The operator’s licence is not the lender’s credit and not a moneylender’s section 14A licence.

Permitted activities (statute)

Financial Services Act section 2: “financial services” means any financial services or financial business activities governed by the relevant Acts, and includes the financial business activities specified in Part I of the Second Schedule.

Section 2: “Peer-to-Peer Lending” means a financial business activity which enables a person to lend funds through an online portal or electronic platform which matches lenders and borrowers. Second Schedule Part I lists the same name.

The licence is for the platform operator. Fifth Schedule item 13 then exempts from section 14A “any person lending money through a peer-to-peer lending platform operated by a person licensed by the Commission to operate that platform.” Lenders on a licensed platform are not, by that lending alone, moneylenders under section 14A.

Published FS-1.17 criteria: the applicant is restricted from undertaking, in its own name, raising any deposit in any form, lending, or providing or arranging any credit enhancement or guarantee. That is an operator restriction, not a description of what lenders on the platform may do.

Licensing conditions (statute)

Section 14(1): “No person shall carry out, or hold himself out as carrying out, in Mauritius any financial services without a licence issued by the Commission.” Section 14(2): contravention is an offence, a fine not exceeding one million rupees and imprisonment for a term not exceeding 8 years.

Section 16(1): an application must be in such form and manner as FSC Rules specify and accompanied by “(a) a business plan or feasibility study outlining the proposed business activity of the applicant; (b) particulars and information relating to customer due diligence verification of promoters, beneficial owners, controllers and proposed directors …; (c) such fees as may be specified in FSC Rules; and (d) such other information as may be specified in FSC Rules or otherwise required by the Commission”.

Section 18(1): the Commission may issue a licence “authorising the applicant to carry out the business activity specified in the licence on such terms and conditions as may be specified in FSC Rules or as it deems appropriate in the circumstances.” Section 18(2) forbids a grant unless, among other things, the application complies with the law, the applicant has “adequate resources, infrastructure, staff with the appropriate competence, experience and proficiency”, adequate arrangements to supervise everything done under the licence, fit-and-proper controllers and beneficial owners, and “no prejudice would be caused or would ensue to the financial services industry”. Section 18(3): the holder “shall, at all times, continue to satisfy the requirements specified in subsection (2)”.

Section 25: the Commission may, by written notice, vary a licence. It must not restrict the authorised activity or include further conditions unless it has notified the licensee of the proposal and the reasons and given a reasonable opportunity to make representations.

Part V ongoing obligations of licensees still attach: record keeping (section 29) and audited financial statements (section 30), unless a specific exemption is granted. A circular or a criteria PDF does not rewrite those sections.

Financial Services (Peer to Peer Lending) Rules 2020 (GN 184, as amended by GN 37 of 2021) apply to a P2P Operator holding the licence. Applications follow Part IV of the Act.

Published criteria: minimum unimpaired stated capital of MUR 2 million or its equivalent, or such higher amount as the Commission may determine. Directors’ undertakings on lender and borrower limits (natural-person lender aggregate MUR 1.5 million in any 12-month period; legal-person lender MUR 3 million; natural-person borrower MUR 1 million until at least one third is reimbursed; legal-person borrower MUR 5 million on the same reimbursement trigger) belong in the file. The 2021 amendment to rule 6 disapplies those lending limits for expert investors.

2021 amendment, replacement rule 13: funds of lenders and borrowers must be maintained separately from the operator’s own funds, through appropriately identified bank accounts in Mauritius.

Who may hold it

The platform operator. Lenders and borrowers are other persons. CIS, listed entities and on-lenders are carved out of the Rules’ borrower definition.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. FS-1.17 criteria PDF. Platform rules, capital, own-name restrictions, credit assessment, and safeguarding of client money are application facts. The criteria neither derogate from nor restrict section 18.

Fees as at 1 July 2026

Processing fee Rs 30,000 (USD 900). Fixed annual fee Rs 60,000 (USD 1,800). Variable: 0.35% of gross fees from peer-to-peer lending activities. Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not a money-lending licence (FS-1.20), not the lender’s credit, and not crowdfunding (FS-1.19).

Status at cut-off

Published directory category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Financial Services Act 2007 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗Financial Services (Peer to Peer Lending) Rules 2020 ↗Licensing criteria — Peer to Peer Lending (FS-1.17) ↗

FSC · FS-1.18

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Financial Services Act 2007 · Section 14 · Second Schedule Part I

What it permits

Provide robotic and AI-enabled advisory services as a licensed financial service. The 2021 Rules define the activity as digital and personalised advisory services through a computer program and/or artificial-intelligence enabled algorithms with limited human intervention.

Permitted activities (statute)

Financial Services Act section 2: “financial services” means any financial services or financial business activities governed by the relevant Acts, and includes the financial business activities specified in Part I of the Second Schedule.

Second Schedule Part I lists “Robotic and Artificial Intelligence Enabled Advisory Services” as a financial business activity. The Schedule names the activity; it does not add a further statutory definition of the book of business. What is permitted is the business activity specified on the licence under section 18(1), read with any FSC Rules and the published criteria for this code.

Financial Services (Robotic and Artificial Intelligence Enabled Advisory Services) Rules 2021, rule 2: the activity “means the provision of digital and personalised advisory services through a computer program and/or artificial intelligence enabled algorithms with limited human intervention.” “Advisory services” includes discretionary and non-discretionary investment and portfolio management services provided by the licensee to its clients.

Rule 4(1): “No person shall carry out Robotic and Artificial Intelligence Enabled Advisory Services without a Robotic and Artificial Intelligence Enabled Advisory Services licence issued by the Commission.” Rule 4(2): the applicant may also apply for another licence, authorisation, registration or approval under a relevant Act.

FSC FAQ on these Rules: the Securities (Investment Advice) Rules 2021 exempt the holder from needing an Investment Adviser licence in order to advise or manage a portfolio of securities for clients. That is an FSC FAQ reading of those Rules, not a repeal of Securities Act section 30 for everyone else. VAITOS Class I remains a different statute.

Licensing conditions (statute)

Section 14(1): “No person shall carry out, or hold himself out as carrying out, in Mauritius any financial services without a licence issued by the Commission.” Section 14(2): contravention is an offence, a fine not exceeding one million rupees and imprisonment for a term not exceeding 8 years.

Section 16(1): an application must be in such form and manner as FSC Rules specify and accompanied by “(a) a business plan or feasibility study outlining the proposed business activity of the applicant; (b) particulars and information relating to customer due diligence verification of promoters, beneficial owners, controllers and proposed directors …; (c) such fees as may be specified in FSC Rules; and (d) such other information as may be specified in FSC Rules or otherwise required by the Commission”.

Section 18(1): the Commission may issue a licence “authorising the applicant to carry out the business activity specified in the licence on such terms and conditions as may be specified in FSC Rules or as it deems appropriate in the circumstances.” Section 18(2) forbids a grant unless, among other things, the application complies with the law, the applicant has “adequate resources, infrastructure, staff with the appropriate competence, experience and proficiency”, adequate arrangements to supervise everything done under the licence, fit-and-proper controllers and beneficial owners, and “no prejudice would be caused or would ensue to the financial services industry”. Section 18(3): the holder “shall, at all times, continue to satisfy the requirements specified in subsection (2)”.

Section 25: the Commission may, by written notice, vary a licence. It must not restrict the authorised activity or include further conditions unless it has notified the licensee of the proposal and the reasons and given a reasonable opportunity to make representations.

Part V ongoing obligations of licensees still attach: record keeping (section 29) and audited financial statements (section 30), unless a specific exemption is granted. A circular or a criteria PDF does not rewrite those sections.

Rules 2021, rule 5: principal bank account in Mauritius; an office and infrastructure in Mauritius; internal controls, cyber-risk and governance policies; business continuity; data-protection of client information; board of at least three directors, one of whom shall be an independent director and a resident of Mauritius; adequate officers; a binding code of conduct.

Rule 6: minimum unimpaired stated capital of MUR 600,000 or its equivalent in a foreign currency, at all times. Rule 7: professional indemnity insurance of at least MUR 2 million. Rule 8: client funds segregated from the licensee’s own funds, in an account with a duly licensed bank.

Rule 9: suitability — investment advice through the platform must be suitable for the client. Rule 10: the board is responsible for algorithm performance, testing and competent officers; key processes and management of client-facing tools must not be outsourced. Rule 13: independent evaluation reports of algorithms at least once every two years and after material changes.

Who may hold it

A section 14 applicant whose product is the licensed AI-enabled advisory service. The 2021 Rules apply to a person holding this licence. The FSC FAQ states that any company incorporated under the Companies Act 2001 may apply.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. FS-1.18 criteria. Model governance, suitability and records belong in the file. Capital, PI cover and segregation are in the 2021 Rules, not only in the criteria column.

Fees as at 1 July 2026

Processing fee Rs 20,000 (USD 400). Fixed annual fee Rs 76,000 (USD 1,700). Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not an Investment Adviser (Unrestricted/Restricted) under Securities Act section 30, not VA-1.4 Class I, and not using a chatbot inside an ordinary consultancy.

Status at cut-off

Published directory category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Financial Services Act 2007 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗Financial Services (Robotic and Artificial Intelligence Enabled Advisory Services) Rules 2021 ↗FSC FAQs — Robotic and AI Enabled Advisory Services ↗Securities Act 2005 ↗Virtual Asset and Initial Token Offering Services Act 2021 ↗

FSC · FS-1.19

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Financial Services Act 2007 · Section 14 · Second Schedule Part I

What it permits

Operate a crowdfunding platform as a licensed financial service. The 2021 Crowdfunding Rules define crowdfunding as solicitation of funds from investors for a specific investment purpose through an online portal or electronic platform.

Permitted activities (statute)

Financial Services Act section 2: “financial services” means any financial services or financial business activities governed by the relevant Acts, and includes the financial business activities specified in Part I of the Second Schedule.

Second Schedule Part I lists “Crowdfunding” as a financial business activity. The Schedule names the activity; it does not add a further statutory definition of the book of business. What is permitted is the business activity specified on the licence under section 18(1), read with any FSC Rules and the published criteria for this code.

Financial Services (Crowdfunding) Rules 2021, rule 2: “crowdfunding” means solicitation of funds from investors for a specific investment purpose through an online portal or electronic platform. An “investment” means unlisted shares, debentures or other equity-like instruments or revenue sharing in a business. A “retail investor” is any person who is not an expert investor.

Rule 4(1): “No person shall operate a crowdfunding platform in Mauritius without a crowdfunding licence issued by the Commission.” Rule 4(3): the operator shall be a legal person incorporated in Mauritius. Rule 14: a reporting issuer shall not seek funding on the platform.

The operator’s licence is not a CIS, not an investment-dealer licence, not P2P lending and not an ITO issuer registration. Issuers and investors remain other persons with their own duties.

Licensing conditions (statute)

Section 14(1): “No person shall carry out, or hold himself out as carrying out, in Mauritius any financial services without a licence issued by the Commission.” Section 14(2): contravention is an offence, a fine not exceeding one million rupees and imprisonment for a term not exceeding 8 years.

Section 16(1): an application must be in such form and manner as FSC Rules specify and accompanied by “(a) a business plan or feasibility study outlining the proposed business activity of the applicant; (b) particulars and information relating to customer due diligence verification of promoters, beneficial owners, controllers and proposed directors …; (c) such fees as may be specified in FSC Rules; and (d) such other information as may be specified in FSC Rules or otherwise required by the Commission”.

Section 18(1): the Commission may issue a licence “authorising the applicant to carry out the business activity specified in the licence on such terms and conditions as may be specified in FSC Rules or as it deems appropriate in the circumstances.” Section 18(2) forbids a grant unless, among other things, the application complies with the law, the applicant has “adequate resources, infrastructure, staff with the appropriate competence, experience and proficiency”, adequate arrangements to supervise everything done under the licence, fit-and-proper controllers and beneficial owners, and “no prejudice would be caused or would ensue to the financial services industry”. Section 18(3): the holder “shall, at all times, continue to satisfy the requirements specified in subsection (2)”.

Section 25: the Commission may, by written notice, vary a licence. It must not restrict the authorised activity or include further conditions unless it has notified the licensee of the proposal and the reasons and given a reasonable opportunity to make representations.

Part V ongoing obligations of licensees still attach: record keeping (section 29) and audited financial statements (section 30), unless a specific exemption is granted. A circular or a criteria PDF does not rewrite those sections.

Rule 5: registered office and principal place of business in Mauritius. Rule 6: minimum unimpaired stated capital of MUR 2 million or its equivalent, or such higher amount as the Commission may determine, at all times. Rule 7: board of at least three directors, of which at least 30 per cent independent and one resident in Mauritius.

Rule 18: over a 12-month period a retail investor must not invest more than MUR 350,000 on the platform; no investment limit applies to expert investors. Rule 19: an issuer shall offer to raise an amount not exceeding MUR 15 million on a crowdfunding platform over a three-year period, or such other period as the Commission may approve.

Rule 20: funds received as intermediary must sit in identified, non-interest-bearing accounts with a Bank of Mauritius-licensed commercial bank, separate from the operator’s own funds. Rule 29: officers, employees and their associates must not finance an issuer, receive funding from an investor, or hold an interest in the capital or voting rights of an issuer or investor.

Who may hold it

The platform operator, a Mauritius-incorporated legal person. Issuers and investors are other persons with their own permissions where required.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. FS-1.19 criteria PDF. Offer documents, investor limits, dedicated bank accounts and platform rules belong in the application. Capital in the Rules is MUR 2 million; directory fees are a different column.

Fees as at 1 July 2026

Processing fee Rs 36,000 (USD 900). Fixed annual fee Rs 72,000 (USD 1,800). Variable: 0.35% of gross fees from crowdfunding activities. Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not a CIS, not an investment dealer, not P2P lending, and not an ITO issuer registration.

Status at cut-off

Published directory category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Financial Services Act 2007 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗Financial Services (Crowdfunding) Rules 2021 ↗Securities Act 2005 ↗

FSC · FS-1.20

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Financial Services Act 2007 · Section 14A · Fifth Schedule

What it permits

Carry on the business of moneylending in Mauritius under the dedicated section 14A, not the general section 14 list. Only a company may be granted the licence. Fifth Schedule persons are exempt when making or providing a loan.

Permitted activities (statute)

Section 2: “moneylender” means a person, other than a bank or a non-bank deposit taking institution, whose business is that of moneylending or who provides, advertises or holds himself out in any way as providing that business, whether or not he possesses or owns property or money derived from sources other than the lending of money, and whether or not he carries on the business as a principal or as an agent.

Section 14A(1)(a): “Subject to subsection (2), no person shall engage in the business of moneylending in Mauritius without a licence granted by the Commission.” Section 14A(1)(c): “No person, other than a company, shall be granted a licence under this section.”

Section 14A(5): “This section shall not apply to a loan made by or provided by any person specified in the Fifth Schedule.” Fifth Schedule includes, among others, a person bona fide carrying on banking or insurance, or any business not having as its primary object the lending of money, in the course of which and for the purposes of which he lends money; bodies expressly empowered by enactment to lend; and “any person lending money through a peer-to-peer lending platform operated by a person licensed by the Commission to operate that platform.”

The FSC moneylending FAQ: a GBC should apply where it is engaged or intends to engage in moneylending in Mauritius; a GBC solely engaged in moneylending outside Mauritius would not be required to seek the licence; a GBC lending money to another GBC is held to be conducting business outside Mauritius with respect to that transaction. That is FSC FAQ guidance, not a substitute for section 14A.

Licensing conditions (statute)

Section 14A(1)(b): section 14 applies to the grant of a moneylender licence as it applies to a licence granted under that section, with such modifications, adaptations and exceptions as may be necessary. Part IV application and grant tests therefore still bite.

Section 16(1): an application must be in such form and manner as FSC Rules specify and accompanied by “(a) a business plan or feasibility study outlining the proposed business activity of the applicant; (b) particulars and information relating to customer due diligence verification of promoters, beneficial owners, controllers and proposed directors …; (c) such fees as may be specified in FSC Rules; and (d) such other information as may be specified in FSC Rules or otherwise required by the Commission”.

Section 18(1): the Commission may issue a licence “authorising the applicant to carry out the business activity specified in the licence on such terms and conditions as may be specified in FSC Rules or as it deems appropriate in the circumstances.” Section 18(2) forbids a grant unless, among other things, the application complies with the law, the applicant has “adequate resources, infrastructure, staff with the appropriate competence, experience and proficiency”, adequate arrangements to supervise everything done under the licence, fit-and-proper controllers and beneficial owners, and “no prejudice would be caused or would ensue to the financial services industry”. Section 18(3): the holder “shall, at all times, continue to satisfy the requirements specified in subsection (2)”.

Section 25: the Commission may, by written notice, vary a licence. It must not restrict the authorised activity or include further conditions unless it has notified the licensee of the proposal and the reasons and given a reasonable opportunity to make representations.

Section 14A(2): every moneylender shall comply with such requirements as the Commission may specify. Section 14A(3): the Commission may, by guidelines, instructions or directives, require every moneylender to comply with such provisions of this Act as it considers appropriate. Section 14A(4): the Commission may inspect operations and affairs, including by a duly qualified person whose costs may be recovered as a civil debt.

Section 14A(6): contravention is an offence, a fine not exceeding one million rupees and imprisonment for a term not exceeding 5 years. Deposit-taking would move the analysis to the Banking Act. FS-1.17 is the platform; FS-2.3 is credit finance.

Who may hold it

A company under section 14A(1)(c). A natural person cannot be granted this licence. Record the section on the file; a section 14 form is not a substitute.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. FS-1.20 criteria. Capital, lending policy and complaints handling belong in the file. The FAQ lists activity, fitness and propriety of principals/officers, skill sets, infrastructure, policies and sustainability among assessment items.

Fees as at 1 July 2026

Processing fee Rs 38,500 (USD 900). Fixed annual fee Rs 74,000 (USD 1,700). Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not P2P platform operation (FS-1.17), not credit finance (FS-2.3), not a bank, and not a deposit-taking institution.

Status at cut-off

Published directory category as at 1 July 2026. Section 14A, not section 14.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Financial Services Act 2007 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗FSC FAQs — Moneylending licence ↗Banking Act 2004 ↗

FSC · FS-1.21

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Financial Services Act 2007 · Section 14 · Second Schedule Part I · Spot Commodity Rules 2024

What it permits

Act as a spot commodity broker. Second Schedule Part I lists the activity (GN 19 of 2024). The 2024 Rules define the broker as a corporation that solicits or accepts orders for the spot purchase or sale of commodities by way of or relating to a contract.

Permitted activities (statute)

Financial Services Act section 2: “financial services” means any financial services or financial business activities governed by the relevant Acts, and includes the financial business activities specified in Part I of the Second Schedule.

Second Schedule Part I lists “Spot commodity broker” as a financial business activity. The Schedule names the activity; it does not add a further statutory definition of the book of business. What is permitted is the business activity specified on the licence under section 18(1), read with any FSC Rules and the published criteria for this code.

Financial Services (Spot Commodity Market and Intermediaries) Rules 2024, rule 2: “spot commodity broker”, in relation to a spot commodity market, means a corporation which carries on the business of soliciting, or accepting orders, for the spot purchase or sale of commodities by way of or relating to a contract, whether or not the business is part of, or is carried on in conjunction with, any other business.

Rule 11(1): “No person, other than a person mentioned in Part 1 of the Schedule, shall carry on the business of a spot commodity broker, whether as principal or agent, without a spot commodity broker licence issued by the Commission.” Rule 3: these Rules do not apply to commodity derivatives, capital formation or raising, securitisation of commodities, or any other commodities arrangement the Commission does not deem to constitute financial services.

Rule 11(7): a spot commodity broker shall not engage in any business activity other than that for which it is licensed and such ancillary or incidental matters as the Commission expressly approves. A representative is FS-1.22, not this licence. A securities dealer is Securities Act section 29.

Licensing conditions (statute)

Section 14(1): “No person shall carry out, or hold himself out as carrying out, in Mauritius any financial services without a licence issued by the Commission.” Section 14(2): contravention is an offence, a fine not exceeding one million rupees and imprisonment for a term not exceeding 8 years.

Section 16(1): an application must be in such form and manner as FSC Rules specify and accompanied by “(a) a business plan or feasibility study outlining the proposed business activity of the applicant; (b) particulars and information relating to customer due diligence verification of promoters, beneficial owners, controllers and proposed directors …; (c) such fees as may be specified in FSC Rules; and (d) such other information as may be specified in FSC Rules or otherwise required by the Commission”.

Section 18(1): the Commission may issue a licence “authorising the applicant to carry out the business activity specified in the licence on such terms and conditions as may be specified in FSC Rules or as it deems appropriate in the circumstances.” Section 18(2) forbids a grant unless, among other things, the application complies with the law, the applicant has “adequate resources, infrastructure, staff with the appropriate competence, experience and proficiency”, adequate arrangements to supervise everything done under the licence, fit-and-proper controllers and beneficial owners, and “no prejudice would be caused or would ensue to the financial services industry”. Section 18(3): the holder “shall, at all times, continue to satisfy the requirements specified in subsection (2)”.

Section 25: the Commission may, by written notice, vary a licence. It must not restrict the authorised activity or include further conditions unless it has notified the licensee of the proposal and the reasons and given a reasonable opportunity to make representations.

Part V ongoing obligations of licensees still attach: record keeping (section 29) and audited financial statements (section 30), unless a specific exemption is granted. A circular or a criteria PDF does not rewrite those sections.

Rule 11(4), without prejudice to section 18: the Commission shall not grant unless satisfied as to competent staff, employment of at least one licensed representative, minimum capital, orderly operations, prudent risk management and AML/CFT due diligence. Rule 11(5): those requirements continue at all times after grant.

Rule 13(1): a broker shall at all times maintain minimum stated unimpaired capital of 700,000 rupees or its equivalent, or such higher amount as the Commission may determine. A fall below the minimum must be notified within five business days.

Rule 11(3): a bank may, with the written approval of the central bank, apply for a broker licence through a subsidiary incorporated for that purpose. Rule 15: a contract confirmation note must be furnished to the customer not later than two business days after a transaction. Applications are on the FSCOne platform.

Who may hold it

A corporation under the 2024 Rules. A representative is a different code. Schedule Part 1 persons (ordinary physical trade, introducing brokers with physical delivery, a global-treasury licensee, a government oil agency, own-account trading that does not solicit public funds) are carved out of the prohibition.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Directory points to a criteria PDF and FSCOne. For an applicant that is not applying for, or holding, a Global Business Licence, the directory states that the corresponding rupee amount is calculated from the Bank of Mauritius indicative exchange rate as at the date of payment. Capital in the Rules is Rs 700,000, not a directory fee.

Fees as at 1 July 2026

Processing fee USD 900**. Fixed annual fee USD 1,800**. For an applicant that is not applying for, or holding, a Global Business Licence, the directory states that the corresponding rupee amount is calculated from the Bank of Mauritius indicative exchange rate as at the date of payment. Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not an investment dealer, not a securities exchange, and not the broker’s representative (FS-1.22).

Status at cut-off

Published directory category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Financial Services Act 2007 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗Financial Services (Spot Commodity Market and Intermediaries) Rules 2024 ↗Securities Act 2005 ↗

FSC · FS-1.22

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Financial Services Act 2007 · Section 14 · Second Schedule Part I · Spot Commodity Rules 2024

What it permits

Act as the representative of a spot commodity broker. The 2024 Rules define the representative as an individual mandated to perform any of the functions of that broker in connection with trading in spot commodity contracts.

Permitted activities (statute)

Financial Services Act section 2: “financial services” means any financial services or financial business activities governed by the relevant Acts, and includes the financial business activities specified in Part I of the Second Schedule.

Second Schedule Part I lists “Spot commodity broker’s representative” as a financial business activity. The Schedule names the activity; it does not add a further statutory definition of the book of business. What is permitted is the business activity specified on the licence under section 18(1), read with any FSC Rules and the published criteria for this code.

Rules 2024, rule 2: “spot commodity broker’s representative” means an individual who is mandated to perform any of the functions of that spot commodity broker in connection with trading in spot commodity contracts, whether the person’s remuneration is by way of salary, wages, commission or otherwise.

Rule 12(1): no person, other than a person mentioned in Part 2 of the Schedule, shall act as, or hold himself out as, a representative of a spot commodity broker without holding the representative licence. Rule 12(4): a representative shall only be licensed to act on behalf of one broker and undertake only the spot commodity activities for which that broker is licensed.

Licensing conditions (statute)

Section 14(1): “No person shall carry out, or hold himself out as carrying out, in Mauritius any financial services without a licence issued by the Commission.” Section 14(2): contravention is an offence, a fine not exceeding one million rupees and imprisonment for a term not exceeding 8 years.

Section 16(1): an application must be in such form and manner as FSC Rules specify and accompanied by “(a) a business plan or feasibility study outlining the proposed business activity of the applicant; (b) particulars and information relating to customer due diligence verification of promoters, beneficial owners, controllers and proposed directors …; (c) such fees as may be specified in FSC Rules; and (d) such other information as may be specified in FSC Rules or otherwise required by the Commission”.

Section 18(1): the Commission may issue a licence “authorising the applicant to carry out the business activity specified in the licence on such terms and conditions as may be specified in FSC Rules or as it deems appropriate in the circumstances.” Section 18(2) forbids a grant unless, among other things, the application complies with the law, the applicant has “adequate resources, infrastructure, staff with the appropriate competence, experience and proficiency”, adequate arrangements to supervise everything done under the licence, fit-and-proper controllers and beneficial owners, and “no prejudice would be caused or would ensue to the financial services industry”. Section 18(3): the holder “shall, at all times, continue to satisfy the requirements specified in subsection (2)”.

Section 25: the Commission may, by written notice, vary a licence. It must not restrict the authorised activity or include further conditions unless it has notified the licensee of the proposal and the reasons and given a reasonable opportunity to make representations.

Part V ongoing obligations of licensees still attach: record keeping (section 29) and audited financial statements (section 30), unless a specific exemption is granted. A circular or a criteria PDF does not rewrite those sections.

Rule 12(3): the application is made by the broker, not as a free-standing career licence. Rule 12(5): a representative may, with the Commission’s approval, have the licence transferred to another broker. Rule 12(6): on termination the broker must notify the Commission immediately and ensure surrender of the licence under section 28.

Rule 12(7): a representative shall not trade in spot commodity contracts for his own account unless that trading follows the broker’s approved conflict-of-interest policies. Rule 14: the broker is responsible for the representative’s conduct, with a narrow carve-out. Fit-and-proper of the representative is personal.

Who may hold it

An individual acting for a licensed broker. The representative does not hold the broker’s permission. Schedule Part 2 carves out a global-treasury licensee, a government oil agency, and own-account trading that does not solicit public funds.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Same family as FS-1.21. Fit-and-proper of the representative is personal. For an applicant that is not applying for, or holding, a Global Business Licence, the directory states that the corresponding rupee amount is calculated from the Bank of Mauritius indicative exchange rate as at the date of payment.

Fees as at 1 July 2026

Processing fee USD 400**. Fixed annual fee USD 900**. For an applicant that is not applying for, or holding, a Global Business Licence, the directory states that the corresponding rupee amount is calculated from the Bank of Mauritius indicative exchange rate as at the date of payment. Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not the broker licence (FS-1.21) and not an investment-dealer representative.

Status at cut-off

Published directory category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Financial Services Act 2007 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗Financial Services (Spot Commodity Market and Intermediaries) Rules 2024 ↗Securities Act 2005 ↗

FSC · FS-1.23

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Financial Services Act 2007 · Section 14 · Second Schedule Part I · Spot Commodity Rules 2024

What it permits

Operate a spot commodity clearing house. Rule 2: a corporation that clears and settles spot commodity contracts and makes adjustments to the contractual obligations arising out of those contracts.

Permitted activities (statute)

Financial Services Act section 2: “financial services” means any financial services or financial business activities governed by the relevant Acts, and includes the financial business activities specified in Part I of the Second Schedule.

Second Schedule Part I lists “Spot commodity clearing house” as a financial business activity. The Schedule names the activity; it does not add a further statutory definition of the book of business. What is permitted is the business activity specified on the licence under section 18(1), read with any FSC Rules and the published criteria for this code.

Rules 2024, rule 2: a spot commodity clearing house, in relation to a spot commodity market, means a corporation that “(a) clears and settles spot commodity contracts; and (b) makes adjustments to the contractual obligations arising out of those spot commodity contracts.”

Rule 4(2): “No person shall establish, maintain, provide, assist in establishing, maintaining or providing, or holding himself out as maintaining or providing a spot commodity clearing house for a spot commodity market unless it holds a spot commodity clearing house licence issued by the Commission.”

Rule 4(5): a licensed clearing house shall not engage in any business activity other than those for which it is licensed, except with the prior approval of the Commission. This is not SEC-1.2 securities clearing.

Licensing conditions (statute)

Section 14(1): “No person shall carry out, or hold himself out as carrying out, in Mauritius any financial services without a licence issued by the Commission.” Section 14(2): contravention is an offence, a fine not exceeding one million rupees and imprisonment for a term not exceeding 8 years.

Section 16(1): an application must be in such form and manner as FSC Rules specify and accompanied by “(a) a business plan or feasibility study outlining the proposed business activity of the applicant; (b) particulars and information relating to customer due diligence verification of promoters, beneficial owners, controllers and proposed directors …; (c) such fees as may be specified in FSC Rules; and (d) such other information as may be specified in FSC Rules or otherwise required by the Commission”.

Section 18(1): the Commission may issue a licence “authorising the applicant to carry out the business activity specified in the licence on such terms and conditions as may be specified in FSC Rules or as it deems appropriate in the circumstances.” Section 18(2) forbids a grant unless, among other things, the application complies with the law, the applicant has “adequate resources, infrastructure, staff with the appropriate competence, experience and proficiency”, adequate arrangements to supervise everything done under the licence, fit-and-proper controllers and beneficial owners, and “no prejudice would be caused or would ensue to the financial services industry”. Section 18(3): the holder “shall, at all times, continue to satisfy the requirements specified in subsection (2)”.

Section 25: the Commission may, by written notice, vary a licence. It must not restrict the authorised activity or include further conditions unless it has notified the licensee of the proposal and the reasons and given a reasonable opportunity to make representations.

Part V ongoing obligations of licensees still attach: record keeping (section 29) and audited financial statements (section 30), unless a specific exemption is granted. A circular or a criteria PDF does not rewrite those sections.

Rule 4(3), without prejudice to section 18: grant requires competent staff, the rule 7 capital, orderly and fair operation, prudent risk management, AML/CFT due diligence of members, satisfactory business rules (rule 6) and the responsible-sourcing requirements of rule 8. Rule 4(4): those requirements continue after grant.

Rule 7(1): minimum stated unimpaired capital of 6.5 million rupees or its equivalent, or such higher amount as the Commission may determine. Rule 6: business rules (clearing and settlement, registration and guarantee of performance, public-protection provisions) have no effect unless approved by the Commission.

Rule 9 ongoing obligations include matching and verifying trades, secure payment and final settlement, default-risk arrangements, position-monitoring, confidentiality, and notifying the Commission if a clearing member cannot comply with the house rules or if financial standing is in question.

Who may hold it

A section 14 / rule 4 applicant with clearing systems, default rules and capital appropriate to a clearing house.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. For an applicant that is not applying for, or holding, a Global Business Licence, the directory states that the corresponding rupee amount is calculated from the Bank of Mauritius indicative exchange rate as at the date of payment. Capital in the Rules is Rs 6.5 million for market and clearing house.

Fees as at 1 July 2026

Processing fee USD 5,000**. Fixed annual fee USD 10,000**. For an applicant that is not applying for, or holding, a Global Business Licence, the directory states that the corresponding rupee amount is calculated from the Bank of Mauritius indicative exchange rate as at the date of payment. Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not SEC-1.2 (securities clearing and settlement) and not the spot commodity market (FS-1.24).

Status at cut-off

Published directory category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Financial Services Act 2007 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗Financial Services (Spot Commodity Market and Intermediaries) Rules 2024 ↗Securities Act 2005 ↗

FSC · FS-1.24

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Financial Services Act 2007 · Section 14 · Second Schedule Part I · Spot Commodity Rules 2024

What it permits

Operate a spot commodity market. Rule 2 covers both a physical market at which spot commodity contracts are regularly transacted and an electronic system, including a DLT facility, through which trading is carried out.

Permitted activities (statute)

Financial Services Act section 2: “financial services” means any financial services or financial business activities governed by the relevant Acts, and includes the financial business activities specified in Part I of the Second Schedule.

Second Schedule Part I lists “Spot commodity market” as a financial business activity. The Schedule names the activity; it does not add a further statutory definition of the book of business. What is permitted is the business activity specified on the licence under section 18(1), read with any FSC Rules and the published criteria for this code.

Rules 2024, rule 2: “spot commodity market” means (a) a market, whether in Mauritius or elsewhere, at which spot commodity contracts are regularly transacted; or (b) an electronic system, including an electronic facility based on distributed ledger technology or any other relevant technologies, whether operating in Mauritius or elsewhere, through which trading in spot commodity contracts is carried out and which provides price or other information and permits users to channel orders, execute transactions or make markets in those contracts.

“Spot commodity contracts” means contracts relating to fungible commodities capable of being promptly delivered physically or settled through exchange of ownership title (warrants, bills of lading, freight contracts or warehouse receipts), that can be traded on a secondary market, and includes an energy or environmentally-linked financial instrument deemed by the Commission to be a carbon offset.

Rule 4(1): no person shall establish, maintain, assist in establishing or maintaining, or hold himself out as providing or maintaining any spot commodity market in or from Mauritius, unless it holds a spot commodity market licence. Brokers on the market need FS-1.21. This is not a securities exchange (SEC-1.1) and not a VASP Class S market.

Licensing conditions (statute)

Section 14(1): “No person shall carry out, or hold himself out as carrying out, in Mauritius any financial services without a licence issued by the Commission.” Section 14(2): contravention is an offence, a fine not exceeding one million rupees and imprisonment for a term not exceeding 8 years.

Section 16(1): an application must be in such form and manner as FSC Rules specify and accompanied by “(a) a business plan or feasibility study outlining the proposed business activity of the applicant; (b) particulars and information relating to customer due diligence verification of promoters, beneficial owners, controllers and proposed directors …; (c) such fees as may be specified in FSC Rules; and (d) such other information as may be specified in FSC Rules or otherwise required by the Commission”.

Section 18(1): the Commission may issue a licence “authorising the applicant to carry out the business activity specified in the licence on such terms and conditions as may be specified in FSC Rules or as it deems appropriate in the circumstances.” Section 18(2) forbids a grant unless, among other things, the application complies with the law, the applicant has “adequate resources, infrastructure, staff with the appropriate competence, experience and proficiency”, adequate arrangements to supervise everything done under the licence, fit-and-proper controllers and beneficial owners, and “no prejudice would be caused or would ensue to the financial services industry”. Section 18(3): the holder “shall, at all times, continue to satisfy the requirements specified in subsection (2)”.

Section 25: the Commission may, by written notice, vary a licence. It must not restrict the authorised activity or include further conditions unless it has notified the licensee of the proposal and the reasons and given a reasonable opportunity to make representations.

Part V ongoing obligations of licensees still attach: record keeping (section 29) and audited financial statements (section 30), unless a specific exemption is granted. A circular or a criteria PDF does not rewrite those sections.

Rule 4(3) grant tests (staff, Rs 6.5 million capital, orderly fair operation, prudent risk, AML/CFT, business rules, responsible sourcing) continue after grant under rule 4(4). Rule 4(5): no other business activity without prior approval.

Rule 5: market business rules have no effect unless the Commission approves them, including on membership integrity, discipline, contract terms, clearing arrangements, fair trading, anti-manipulation, publication of trading details and public protection. Rule 8: operate an orderly, fair and transparent market; monitor; resolve disputes; publish rules and fees; notify the Commission of member default or doubtful standing; and meet responsible-sourcing standards (ISO 14001 / ISO 45001 or equivalent, and OECD mineral due diligence where applicable).

Rule 10: quarterly trading information within 45 days of quarter-end, and an annual business-activity report with the section 30 audited statements.

Who may hold it

A section 14 market operator under rule 4. Brokers on the market need FS-1.21, not a securities-dealer licence, unless they also deal in securities.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. For an applicant that is not applying for, or holding, a Global Business Licence, the directory states that the corresponding rupee amount is calculated from the Bank of Mauritius indicative exchange rate as at the date of payment. Capital in the Rules is Rs 6.5 million.

Fees as at 1 July 2026

Processing fee USD 5,000**. Fixed annual fee USD 10,000**. For an applicant that is not applying for, or holding, a Global Business Licence, the directory states that the corresponding rupee amount is calculated from the Bank of Mauritius indicative exchange rate as at the date of payment. Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not a securities exchange (SEC-1.1) and not a virtual-asset marketplace (VA-1.5).

Status at cut-off

Published directory category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Financial Services Act 2007 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗Financial Services (Spot Commodity Market and Intermediaries) Rules 2024 ↗Securities Act 2005 ↗Virtual Asset and Initial Token Offering Services Act 2021 ↗

FSC · FS-1.25

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Financial Services Act 2007 · Section 14 · Second Schedule Part I · Spot Commodity Rules 2024

What it permits

Advise on spot commodity trading. Rule 2: a corporation that advises others on spot commodity contracts, issues analysis as a regular business, or undertakes to enter into contracts for a customer’s funds, and that is not a bank and not a broker or broker’s representative.

Permitted activities (statute)

Financial Services Act section 2: “financial services” means any financial services or financial business activities governed by the relevant Acts, and includes the financial business activities specified in Part I of the Second Schedule.

Second Schedule Part I lists “Spot commodity trading adviser” as a financial business activity. The Schedule names the activity; it does not add a further statutory definition of the book of business. What is permitted is the business activity specified on the licence under section 18(1), read with any FSC Rules and the published criteria for this code.

Rules 2024, rule 2: “spot commodity trading adviser” means any corporation who (a) carries on the business of advising others (directly or indirectly, through publications or writings, or by whatever means or media) on spot commodity contracts, including on the trading in any spot commodity contract; (b) as part of a regular business, issues or promulgates analysis or reports concerning spot commodity contracts; or (c) pursuant to a contract or an arrangement with a customer, undertakes on behalf of that customer (whether on a discretionary authority or otherwise) to enter into any spot commodity contract for the purposes of managing its funds, but does not include a bank licensed under the Banking Act, or a spot commodity broker or broker’s representative.

Rule 11(2): no person, other than a person mentioned in Part 1 of the Schedule, shall carry on that business without the adviser licence. Rule 11(7): no other business activity except with the Commission’s express approval. This is not Securities Act investment advice (section 30).

Licensing conditions (statute)

Section 14(1): “No person shall carry out, or hold himself out as carrying out, in Mauritius any financial services without a licence issued by the Commission.” Section 14(2): contravention is an offence, a fine not exceeding one million rupees and imprisonment for a term not exceeding 8 years.

Section 16(1): an application must be in such form and manner as FSC Rules specify and accompanied by “(a) a business plan or feasibility study outlining the proposed business activity of the applicant; (b) particulars and information relating to customer due diligence verification of promoters, beneficial owners, controllers and proposed directors …; (c) such fees as may be specified in FSC Rules; and (d) such other information as may be specified in FSC Rules or otherwise required by the Commission”.

Section 18(1): the Commission may issue a licence “authorising the applicant to carry out the business activity specified in the licence on such terms and conditions as may be specified in FSC Rules or as it deems appropriate in the circumstances.” Section 18(2) forbids a grant unless, among other things, the application complies with the law, the applicant has “adequate resources, infrastructure, staff with the appropriate competence, experience and proficiency”, adequate arrangements to supervise everything done under the licence, fit-and-proper controllers and beneficial owners, and “no prejudice would be caused or would ensue to the financial services industry”. Section 18(3): the holder “shall, at all times, continue to satisfy the requirements specified in subsection (2)”.

Section 25: the Commission may, by written notice, vary a licence. It must not restrict the authorised activity or include further conditions unless it has notified the licensee of the proposal and the reasons and given a reasonable opportunity to make representations.

Part V ongoing obligations of licensees still attach: record keeping (section 29) and audited financial statements (section 30), unless a specific exemption is granted. A circular or a criteria PDF does not rewrite those sections.

Rule 11(4)–(5) grant and continuing tests (staff, at least one licensed representative, capital, orderly operations, prudent risk, AML/CFT) apply as they do to a broker. Rule 13(2): minimum stated unimpaired capital of 600,000 rupees or its equivalent, or such higher amount as the Commission may determine, with five-business-day notification of a shortfall.

A representative is FS-1.26. The adviser is responsible for that representative’s conduct (rule 14).

Who may hold it

A corporation in the spot commodity family, not a bank and not a broker. Schedule Part 1 carve-outs still apply.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. For an applicant that is not applying for, or holding, a Global Business Licence, the directory states that the corresponding rupee amount is calculated from the Bank of Mauritius indicative exchange rate as at the date of payment. Capital in the Rules is Rs 600,000.

Fees as at 1 July 2026

Processing fee USD 900**. Fixed annual fee USD 1,800**. For an applicant that is not applying for, or holding, a Global Business Licence, the directory states that the corresponding rupee amount is calculated from the Bank of Mauritius indicative exchange rate as at the date of payment. Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not the broker (FS-1.21), not the adviser’s representative (FS-1.26), and not an investment adviser under the Securities Act.

Status at cut-off

Published directory category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Financial Services Act 2007 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗Financial Services (Spot Commodity Market and Intermediaries) Rules 2024 ↗Securities Act 2005 ↗

FSC · FS-1.26

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Financial Services Act 2007 · Section 14 · Second Schedule Part I · Spot Commodity Rules 2024

What it permits

Act as representative of a spot commodity trading adviser. Rule 2: an individual mandated to perform any of the functions of that adviser.

Permitted activities (statute)

Financial Services Act section 2: “financial services” means any financial services or financial business activities governed by the relevant Acts, and includes the financial business activities specified in Part I of the Second Schedule.

Second Schedule Part I lists “Spot commodity trading adviser’s representative” as a financial business activity. The Schedule names the activity; it does not add a further statutory definition of the book of business. What is permitted is the business activity specified on the licence under section 18(1), read with any FSC Rules and the published criteria for this code.

Rules 2024, rule 2: “spot commodity trading adviser’s representative” means an individual who is mandated to perform any of the functions of a spot commodity trading adviser, whether his remuneration is by way of salary, wages, commission or otherwise.

Rule 12(2): no person, other than a person mentioned in Part 2 of the Schedule, shall act as, or hold himself out as, such a representative without the representative licence. Rule 12(4): licensed for one adviser only, and only for the activities for which that adviser is licensed. This is not FS-1.22 (broker’s representative).

Licensing conditions (statute)

Section 14(1): “No person shall carry out, or hold himself out as carrying out, in Mauritius any financial services without a licence issued by the Commission.” Section 14(2): contravention is an offence, a fine not exceeding one million rupees and imprisonment for a term not exceeding 8 years.

Section 16(1): an application must be in such form and manner as FSC Rules specify and accompanied by “(a) a business plan or feasibility study outlining the proposed business activity of the applicant; (b) particulars and information relating to customer due diligence verification of promoters, beneficial owners, controllers and proposed directors …; (c) such fees as may be specified in FSC Rules; and (d) such other information as may be specified in FSC Rules or otherwise required by the Commission”.

Section 18(1): the Commission may issue a licence “authorising the applicant to carry out the business activity specified in the licence on such terms and conditions as may be specified in FSC Rules or as it deems appropriate in the circumstances.” Section 18(2) forbids a grant unless, among other things, the application complies with the law, the applicant has “adequate resources, infrastructure, staff with the appropriate competence, experience and proficiency”, adequate arrangements to supervise everything done under the licence, fit-and-proper controllers and beneficial owners, and “no prejudice would be caused or would ensue to the financial services industry”. Section 18(3): the holder “shall, at all times, continue to satisfy the requirements specified in subsection (2)”.

Section 25: the Commission may, by written notice, vary a licence. It must not restrict the authorised activity or include further conditions unless it has notified the licensee of the proposal and the reasons and given a reasonable opportunity to make representations.

Part V ongoing obligations of licensees still attach: record keeping (section 29) and audited financial statements (section 30), unless a specific exemption is granted. A circular or a criteria PDF does not rewrite those sections.

Rule 12(3): the adviser makes the application. Transfer, termination, surrender under section 28, and the own-account trading restriction in rule 12(7) apply as they do to a broker’s representative. Rule 14: the adviser is responsible for the representative’s conduct.

A representative licence is not a portable adviser licence and not a broker licence.

Who may hold it

The individual representative of a licensed FS-1.25 adviser.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. For an applicant that is not applying for, or holding, a Global Business Licence, the directory states that the corresponding rupee amount is calculated from the Bank of Mauritius indicative exchange rate as at the date of payment.

Fees as at 1 July 2026

Processing fee USD 400**. Fixed annual fee USD 900**. For an applicant that is not applying for, or holding, a Global Business Licence, the directory states that the corresponding rupee amount is calculated from the Bank of Mauritius indicative exchange rate as at the date of payment. Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not FS-1.25 and not FS-1.22 (broker’s representative).

Status at cut-off

Published directory category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Financial Services Act 2007 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗Financial Services (Spot Commodity Market and Intermediaries) Rules 2024 ↗Securities Act 2005 ↗

FSC · FS-2.3

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Financial Services Act 2007 · Section 14

What it permits

Carry on credit-finance business as a specialised financial service / institution under the official FSC heading. The activity is extending credit other than as a bank or as a section 14A moneylender — the file must still show why those other permissions are not the right ones.

Who may hold it

A section 14 applicant in the specialised-institutions family. Credit policy, funding (not public deposits) and collections belong on the file.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Dedicated form and criteria column for FS-2.3 (not the FS-2.11 reuse).

Fees as at 1 July 2026

Processing fee Rs 34,000 (USD 1,000). Fixed annual fee Rs 77,000 (USD 1,900). Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not a bank, not FS-1.20 money lending, not factoring (FS-2.4), not leasing (FS-2.5), and not a P2P platform.

Status at cut-off

Published specialised-financial-services category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Financial Services Act 2007 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗Banking Act 2004 ↗

FSC · FS-2.4

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Financial Services Act 2007 · Section 14

What it permits

Carry on factoring — typically the purchase of receivables — as a specialised financial service.

Who may hold it

A section 14 applicant with a receivables-purchase model, credit insurance if any, and concentration limits in the plan.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Dedicated FS-2.4 form and criteria on the directory.

Fees as at 1 July 2026

Processing fee Rs 25,000 (USD 1,000). Fixed annual fee Rs 57,000 (USD 1,900). Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not credit finance (FS-2.3), not leasing, and not a bank collecting its own loan book.

Status at cut-off

Published specialised-financial-services category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Financial Services Act 2007 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · FS-2.5

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Financial Services Act 2007 · Section 14

What it permits

Carry on leasing business as a specialised financial service. The legal form of the contract (finance lease versus operating lease) is a contract fact, not a second FSC code.

Who may hold it

A section 14 applicant with residual-value and asset-title controls.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Dedicated FS-2.5 form and criteria.

Fees as at 1 July 2026

Processing fee Rs 25,000 (USD 1,000). Fixed annual fee Rs 57,000 (USD 1,900). Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not credit finance, not a bank, and not an Income Tax Act aircraft-leasing conclusion.

Status at cut-off

Published specialised-financial-services category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Financial Services Act 2007 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · FS-2.7

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Financial Services Act 2007 · Section 14

What it permits

Provide actuarial services as a specialised financial service. The directory reuses the FS-2.11 form and criteria; the code remains FS-2.7.

Who may hold it

A section 14 applicant. Professional actuarial qualification is a criteria fact, not a substitute for the FSC licence where the activity is licensable.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. The 1 July 2026 directory says the application form and licensing criteria are the same as FS-2.11. That is a filing convenience. The code and the activity remain this row, not “other financial business activity”.

Fees as at 1 July 2026

Processing fee Rs 25,000 (USD 1,000). Fixed annual fee Rs 57,000 (USD 1,900). Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not an insurance manager (INS-2.1), not a long-term insurer, and not “other financial business activity”.

Status at cut-off

Published specialised-financial-services category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Financial Services Act 2007 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗Insurance Act 2005 ↗

FSC · FS-2.8

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Financial Services Act 2007 · Section 14

What it permits

Operate as a credit rating agency / rating agency. Directory fees are higher than the other specialised rows. Form and criteria reuse FS-2.11.

Who may hold it

A section 14 applicant with independence, methodology and analyst-competence evidence.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. The 1 July 2026 directory says the application form and licensing criteria are the same as FS-2.11. That is a filing convenience. The code and the activity remain this row, not “other financial business activity”.

Fees as at 1 July 2026

Processing fee Rs 50,000 (USD 2,000). Fixed annual fee Rs 120,000 (USD 3,800). Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not an investment adviser, not a reporting issuer, and not “other financial business activity”.

Status at cut-off

Published specialised-financial-services category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Financial Services Act 2007 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗Securities Act 2005 ↗

FSC · FS-2.9

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Financial Services Act 2007 · Section 14

What it permits

Provide payment intermediary services as an FSC specialised financial service. Directory USD fees differ from the factoring/leasing pair (processing USD 1,400; annual USD 2,600).

Who may hold it

An FSC section 14 applicant. If the activity is a payment service under the NPS Act, the BoM file is a separate question — do not collapse the two regulators.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Directory: dedicated form; criteria same as FS-2.11. Still record this as FS-2.9.

Fees as at 1 July 2026

Processing fee Rs 25,000 (USD 1,400). Fixed annual fee Rs 57,000 (USD 2,600). Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not a Bank of Mauritius Payment Service Provider licence (NPS Act section 9), not a payment-system operator authorisation, and not a bank.

Status at cut-off

Published specialised-financial-services category as at 1 July 2026. Dual-regulator overlap must be checked on the facts, not assumed away.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Financial Services Act 2007 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗National Payment Systems Act 2018 ↗Application form for a Payment Service Provider licence ↗

FSC · FS-2.10

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Financial Services Act 2007 · Section 14

What it permits

Maintain a representative office in Mauritius for financial services of a person established abroad. The directory name is the scope: representation, not a full Mauritius activity licence for those foreign services.

Who may hold it

Typically the Mauritius presence of a foreign financial-services person. It does not, by itself, authorise dealing with the Mauritian public as a domestic dealer.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. The 1 July 2026 directory says the application form and licensing criteria are the same as FS-2.11. That is a filing convenience. The code and the activity remain this row, not “other financial business activity”.

Fees as at 1 July 2026

Processing fee Rs 22,500 (USD 1,000). Fixed annual fee Rs 52,000 (USD 1,900). Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not a foreign investment dealer (SEC-6), not an Authorised Company, and not a management licence.

Status at cut-off

Published specialised-financial-services category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Financial Services Act 2007 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗Securities Act 2005 ↗

FSC · FS-2.11

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Financial Services Act 2007 · Section 14

What it permits

A residual specialised-financial-services category for a financial business activity that is not a named code. The Commission still licences a described activity; the residual label is not a permission to do everything.

Who may hold it

A section 14 applicant whose business plan must name the actual activity. If a named code fits, use the named code.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. This is the form/criteria that several neighbouring codes reuse. For FS-2.11 itself, describe the activity with precision.

Fees as at 1 July 2026

Processing fee Rs 22,500 (USD 900). Fixed annual fee Rs 52,000 (USD 1,700). Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not a shortcut around FS-2.3–FS-2.10, not a GBL, and not “unregulated because miscellaneous”.

Status at cut-off

Published specialised-financial-services category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Financial Services Act 2007 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · FS-3.1A

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Financial Services Act 2007 · Section 77

What it permits

A company whose main activity is to set up, administer, manage and provide nominee and other services to Global Business Licence corporations (and related services listed in section 77), including corporate trusteeship and acting as registered agent for Authorised Companies as the directory’s variable-fee rows describe.

Who may hold it

A management company. Historical directory wording still counts “Category 1 Global Business Licence” entities for variable fees — read that as the current GBL population unless the live schedule says otherwise.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. FS-3.1A criteria. Premises, officers, compliance and systems are section 77 substance, not a GBL. Circular CL20260309 addresses managed corporate service providers converting to a full MC.

Fees as at 1 July 2026

Directory processing 700 and fixed annual 6,800, plus variable bands by number of Category 1 / GBL entities administered (0 / 6,000 / 8,000 / 10,000), plus 5,000 where corporate trusteeship was provided on 31 December of the preceding year, plus Authorised Company registered-agent bands (0 / USD 4,000 / 5,000 / 6,000). Read the current First Schedule for currency and bands. CL20260107 applies to renewal.

Neighbouring permissions

Not the qualified-trustee-only management licence (FS-3.1B), not a nominee-company approval (FS-3.2), and not the Global Business Licence of the client.

Status at cut-off

Published corporate-and-trust-service-provider category. Category 1 wording in the fee table is historical labelling.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Financial Services Act 2007 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗FSC Circular Letter CL20260309 — managed corporate service providers ↗FSC Circular Letter CL20261009 — authorised bank signatory transitional period ↗Financial Services Act — Global Business and Authorised Company overlay ↗

FSC · FS-3.1B

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Financial Services Act 2007 · Section 77

What it permits

A narrower management licence limited to qualified / corporate trustee work. Directory processing and fixed annual figures match FS-3.1A’s base 700 / 6,800 pair; the activity is not the full administration franchise.

Who may hold it

A company licensed under section 77 for trusteeship only. Trusts Act qualified-trustee status still has to match the Trusts Act definition.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Same form family as FS-3.1A on the directory; the limitation “qualified / corporate trustee only” is the licence condition that matters.

Fees as at 1 July 2026

Directory processing 700 and fixed annual 6,800. Variable GBL-administration bands that belong to a full MC do not attach merely because the numbers look similar — read the schedule line for FS-3.1B.

Neighbouring permissions

Not FS-3.1A, not TAC-1.1 (qualified trustee other than a management company), and not the trust itself.

Status at cut-off

Published category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Financial Services Act 2007 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗FSC Circular Letter CL20260309 — managed corporate service providers ↗Trusts Act 2001 — Laws of Mauritius (Version 3) ↗

FSC · FS-3.2

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Approval

Enabling law

Financial Services Act 2007 · Section 78

What it permits

Approval of a nominee company. The directory nature is approval, not a management licence. First-year annual fees for nominees also appear in the First Annual Licence Fee table (USD 500 down to 125 by quarter).

Who may hold it

A nominee company, typically in the management-company structure. Section 78 is the locator.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. FS-3.2 form and criteria. The nominee holds for another; it does not become the client GBL.

Fees as at 1 July 2026

Directory processing 300 and annual 500, plus the first-annual-licence-fee quartering table for Nominee (USD 500 / 375 / 250 / 125 depending on application quarter). Confirm currency on the live schedule.

Neighbouring permissions

Not FS-3.1A, not the beneficial owner, and not an Authorised Company.

Status at cut-off

Published approval category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Financial Services Act 2007 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗Financial Services Act — Global Business and Authorised Company overlay ↗

FSC · FS-5.1

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Declaration or recognition

Enabling law

Financial Services Act 2007 · Section 33

What it permits

Declaration or recognition of a self-regulatory organisation. Fees are “to be determined by the Commission on each case”.

Who may hold it

A body capable of exercising self-regulatory functions as section 33 contemplates. Case-by-case fees are a directory fact.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. FS-5.1 criteria. Governance, membership rules and enforcement capacity belong in the file.

Fees as at 1 July 2026

Processing and annual fees to be determined by the Commission in each case. No rupee or USD pair is printed on the 1 July 2026 row.

Neighbouring permissions

Not a securities exchange licence (SEC-1.1) and not a management licence.

Status at cut-off

Published SRO category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Financial Services Act 2007 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗Securities Act 2005 ↗

FSC · FS-6.1

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Financial Services Act 2007 · Section 79A

What it permits

Carry on investment-banking business under the dedicated section 79A licence. Directory fees are Rs 100,000 processing and Rs 500,000 annual — a different scale from section 14 activity licences.

Who may hold it

An applicant under section 79A. Dealer, adviser or CIS permissions remain separate if those activities are also carried on.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. FS-6.1 criteria. Do not treat a full-service dealer licence as an investment-banking licence.

Fees as at 1 July 2026

Processing fee Rs 100,000. Fixed annual fee Rs 500,000. Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not an investment dealer (SEC-2.1A), not FS-1.9 global treasury, and not a bank.

Status at cut-off

Published investment-banking category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Financial Services Act 2007 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗Securities Act 2005 ↗

FSC · FS-7.1

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Financial Services Act 2007 · Section 77C

What it permits

Conduct global activities specified in the Sixth Schedule, under a section 77C licence. Directory fees are USD 1,000 processing and USD 2,500 annual. The directory form column shows only the authority annex on the 1 July 2026 page.

Who may hold it

An entity whose main activity is the Sixth Schedule global activity. Read the Schedule, not the marketing phrase “shared services”.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. FS-7.1 criteria PDF on the directory. Section 77C plus Sixth Schedule is the legal test.

Fees as at 1 July 2026

Processing fee USD 1,000. Fixed annual fee USD 2,500. Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not Global Headquarters Administration (FS-1.8), not a management licence, and not a GBL.

Status at cut-off

Published category as at 1 July 2026. Section 77C, not section 14.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Financial Services Act 2007 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · SEC-1.1

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Securities Act 2005 · Section 9

What it permits

Establish, maintain or operate a securities exchange in Mauritius, physically or electronically, only with a securities-exchange licence.

Who may hold it

The exchange operator. Members still need their own dealer licences.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. SEC-1.1 criteria. Market rules, systems and default arrangements belong in the file.

Fees as at 1 July 2026

Processing fee Rs 250,000. Fixed annual fee Minimum of Rs 500,000. Variable annual fee to be determined by the Commission. Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not a spot commodity market (FS-1.24), not a VASP Class S marketplace, and not a clearing facility (SEC-1.2).

Status at cut-off

Published market-infrastructure category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Securities Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · SEC-1.2

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Securities Act 2005 · Section 10

What it permits

Provide deposit, clearing or settlement of securities transactions only with a clearing-and-settlement facility licence.

Who may hold it

The facility operator. Participants have their own permissions.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. SEC-1.2 criteria.

Fees as at 1 July 2026

Processing fee Rs 250,000. Fixed annual fee Minimum of Rs 500,000. Variable annual fee to be determined by the Commission. Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not a securities exchange, not a spot commodity clearing house (FS-1.23), and not a remote custodian recognition.

Status at cut-off

Published market-infrastructure category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Securities Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · SEC-1.3

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Securities Act 2005 · Section 11

What it permits

Operate securities trading systems under section 11. Directory fees match the exchange/clearing processing band.

Who may hold it

The system operator. Users still need dealer or other intermediary licences as applicable.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. SEC-1.3 criteria.

Fees as at 1 July 2026

Processing fee Rs 250,000. Fixed annual fee Minimum of Rs 500,000. Variable annual fee to be determined by the Commission. Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not the exchange licence itself, and not a dealer who merely uses a system.

Status at cut-off

Published market-infrastructure category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Securities Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · SEC-4.4

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Registration

Enabling law

Securities Act 2005 · Section 86, with Rule 3 of the Securities (Disclosure Obligations of Reporting Issuer) Rules 2007

What it permits

Registration as a reporting issuer with disclosure obligations. Directory annual fee is printed as a dash — processing Rs 13,500. This is not an activity licence to deal or advise.

Who may hold it

The issuer of securities that meets the reporting-issuer tests. Officers of the issuer are not thereby dealers.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Directory points to PDF/Excel forms and a criteria PDF. Disclosure Rules 2007 rule 3 is cited on the row.

Fees as at 1 July 2026

Processing Rs 13,500. No fixed annual fee is printed on the 1 July 2026 row.

Neighbouring permissions

Not an investment dealer, not a CIS, and not a listing by itself (listing rules of an exchange are additional).

Status at cut-off

Published reporting-issuer category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Securities Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · SEC-2.1A

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Securities Act 2005 · Sections 29 and 53

What it permits

Full-service dealing including underwriting. The directory cites both section 29 and section 53. Brokerage under the Stock Exchange (Brokerage) Regulations 1989 is an additional fee line.

Who may hold it

The dealer company. Representatives are separate codes.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Dedicated form and criteria. Capital and underwriting capacity belong in the file. USD figures on intermediary rows apply to a GBL applicant or holder and its representatives, as the directory footnote states.

Fees as at 1 July 2026

Processing fee Rs 100,000 (USD 3,000). Fixed annual fee Rs 290,000 (USD 9,500). Plus brokerage as per the Stock Exchange (Brokerage) Regulations 1989. Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not SEC-2.1B (excluding underwriting), not an investment-banking FSA licence, and not a representative licence.

Status at cut-off

Published intermediary category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Securities Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · SEC-2.1B

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Securities Act 2005 · Section 29

What it permits

Full-service dealing without underwriting. A published criteria PDF exists for this code.

Who may hold it

The dealer. Liquidity-provider arrangements, if used, are items in the published criteria PDF.

Key criteria

Dedicated criteria PDF. Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Stated capital and liquidity-provider evidence are in that PDF. USD figures on intermediary rows apply to a GBL applicant or holder and its representatives, as the directory footnote states.

Fees as at 1 July 2026

Processing fee Rs 7,500 (USD 1,000). Fixed annual fee Rs 75,000 (USD 3,400). Plus brokerage as per the Stock Exchange (Brokerage) Regulations 1989. Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not SEC-2.1A, not a broker-only licence (SEC-2.2), and not a representative.

Status at cut-off

Published intermediary category as at 1 July 2026. Criteria PDF checked.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Securities Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗Licensing criteria — Investment Dealer (Full Service Dealer excluding Underwriting) SEC-2.1B ↗

FSC · SEC-2.1C

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Securities Act 2005 · Section 29

What it permits

Deal in derivatives as an investment dealer. Directory form/criteria columns are dashes on the 1 July 2026 page; the code and section 29 still exist.

Who may hold it

The derivatives dealer. Representatives use SEC-2.6Cv.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Form and criteria columns were blank on the captured directory row. Do not invent a PDF. Ask the Commission / FSCOne for the live pack. USD figures on intermediary rows apply to a GBL applicant or holder and its representatives, as the directory footnote states.

Fees as at 1 July 2026

Processing fee Rs 30,000 (USD 1,000). Fixed annual fee Rs 90,000 (USD 3,000). Plus brokerage as per the Stock Exchange (Brokerage) Regulations 1989 where applicable. Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not SEC-2.1B cash securities, not a VASP broker-dealer, and not the derivatives representative (SEC-2.6Cv).

Status at cut-off

Published intermediary category as at 1 July 2026. Criteria pack not separately archived in this course.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Securities Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · SEC-2.2

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Securities Act 2005 · Section 29

What it permits

Broker-class investment dealing, a narrower class than full-service. Brokerage regulations still apply.

Who may hold it

The broker company.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Dedicated form and criteria. USD figures on intermediary rows apply to a GBL applicant or holder and its representatives, as the directory footnote states.

Fees as at 1 July 2026

Processing fee Rs 4,500 (USD 700). Fixed annual fee Rs 54,000 (USD 2,700). Plus brokerage as per the Stock Exchange (Brokerage) Regulations 1989. Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not full-service (2.1A/B), not discount broker (2.3), and not a Type 1/2 representative.

Status at cut-off

Published intermediary category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Securities Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · SEC-2.3

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Securities Act 2005 · Section 29

What it permits

Discount-broker dealing. Lowest dealer fee band among the cash-equity classes.

Who may hold it

The discount-broker company. Execution-only character is a licence-class fact, not a slogan.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. USD figures on intermediary rows apply to a GBL applicant or holder and its representatives, as the directory footnote states.

Fees as at 1 July 2026

Processing fee Rs 2,500 (USD 300). Fixed annual fee Rs 45,000 (USD 2,000). Plus brokerage as per the Stock Exchange (Brokerage) Regulations 1989. Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not SEC-2.2 and not a representative of a discount broker (SEC-2.6F).

Status at cut-off

Published intermediary category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Securities Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · SEC-3.0

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Securities Act 2005 · Section 29

What it permits

Deal in the Government of Mauritius securities and Bank of Mauritius securities segment. Directory form/criteria columns are dashes. Fees are rupee-only on this row.

Who may hold it

A dealer authorised for that segment. Primary-dealer arrangements with the Bank, if any, are a BoM fact in addition to this FSC code.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Blank form/criteria cells on the captured directory. Do not invent a PDF.

Fees as at 1 July 2026

Processing fee Rs 2,000. Fixed annual fee Rs 18,000. No USD pair is printed on this row. Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not a full-service dealer, not a money changer, and not a BoM banking licence.

Status at cut-off

Published intermediary category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Securities Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗Banking Act 2004 ↗

FSC · SEC-2.6Cv

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Securities Act 2005 · Section 29

What it permits

Act as representative of a derivatives dealer. Directory says the form is the same as SEC-2.6A. Fees are printed RS 27,000 / USD 900 processing and RS 81,000 / USD 2,700 annual.

Who may hold it

The individual representative of a licensed derivatives dealer.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Same form as SEC-2.6A. Fit-and-proper is personal. USD figures on intermediary rows apply to a GBL applicant or holder and its representatives, as the directory footnote states.

Fees as at 1 July 2026

Processing fee Rs 27,000 (USD 900). Fixed annual fee Rs 81,000 (USD 2,700). Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not SEC-2.1C (the dealer) and not a Type 1 full-service representative.

Status at cut-off

Published representative category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Securities Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · SEC-2.4

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Securities Act 2005 · Section 30

What it permits

Unrestricted investment advisory business under section 30. Discretionary management character is a Licensing Rules / criteria question — do not assume it equals a CIS manager.

Who may hold it

The advisory firm. Representatives use 2.7A.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Dedicated form and criteria. USD figures on intermediary rows apply to a GBL applicant or holder and its representatives, as the directory footnote states.

Fees as at 1 July 2026

Processing fee Rs 6,200 (USD 600). Fixed annual fee Rs 71,000 (USD 2,400). Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not restricted (2.5), not corporate-finance advisory (2.5A), not FS-1.18 robotic advisory, and not a CIS manager.

Status at cut-off

Published adviser category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Securities Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · SEC-2.5

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Securities Act 2005 · Section 30

What it permits

Restricted investment advisory business. Lower fee band than unrestricted. The restriction is a licence-class fact in the Rules, not a marketing discount.

Who may hold it

The restricted advisory firm.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. USD figures on intermediary rows apply to a GBL applicant or holder and its representatives, as the directory footnote states.

Fees as at 1 July 2026

Processing fee Rs 5,000 (USD 500). Fixed annual fee Rs 36,000 (USD 1,500). Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not unrestricted, not corporate-finance advisory, and not a representative of a restricted adviser (2.7B).

Status at cut-off

Published adviser category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Securities Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · SEC-2.5A

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Securities Act 2005 · Section 30

What it permits

Corporate-finance advisory as a distinct section 30 class. Directory fees sit above unrestricted (processing Rs 9,500 / USD 900; annual Rs 94,000 / USD 3,100).

Who may hold it

The corporate-finance advisory firm. Representatives use 2.7C.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. USD figures on intermediary rows apply to a GBL applicant or holder and its representatives, as the directory footnote states.

Fees as at 1 July 2026

Processing fee Rs 9,500 (USD 900). Fixed annual fee Rs 94,000 (USD 3,100). Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not unrestricted portfolio advice, not FS-6.1 investment banking, and not a reporting issuer.

Status at cut-off

Published adviser category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Securities Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · SEC-2.6A

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Securities Act 2005 · Section 29

What it permits

Type 1 representative of a full-service dealer. The Securities (Licensing) Rules distinguish representative types; this course does not collapse Type 1, 2 and 3 into one permission.

Who may hold it

An individual attached to a full-service dealer. Read the current Licensing Rules for what Type 1 may do.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Dedicated representative form. Type is a rule-based activity limit. USD figures on intermediary rows apply to a GBL applicant or holder and its representatives, as the directory footnote states.

Fees as at 1 July 2026

Processing fee Rs 3,100 (USD 200). Fixed annual fee Rs 34,000 (USD 800). Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not the dealer licence, not Type 2, and not Type 3.

Status at cut-off

Published representative category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Securities Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · SEC-2.6B

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Securities Act 2005 · Section 29

What it permits

Type 2 representative of a full-service dealer. Directory: same form as 2.6A, with a dedicated Type 2 criteria PDF title on the row.

Who may hold it

An individual. Activity limits follow the Licensing Rules for Type 2.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Directory references a Type 2 criteria PDF. USD figures on intermediary rows apply to a GBL applicant or holder and its representatives, as the directory footnote states.

Fees as at 1 July 2026

Processing fee Rs 2,500 (USD 200). Fixed annual fee Rs 27,000 (USD 800). Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not Type 1 and not Type 3.

Status at cut-off

Published representative category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Securities Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · SEC-2.6C

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Securities Act 2005 · Section 29

What it permits

Type 3 representative of a full-service dealer. Same form family as 2.6A. Fees match Type 2 on the directory.

Who may hold it

An individual. Type 3 limits are in the Licensing Rules.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. USD figures on intermediary rows apply to a GBL applicant or holder and its representatives, as the directory footnote states.

Fees as at 1 July 2026

Processing fee Rs 2,500 (USD 200). Fixed annual fee Rs 27,000 (USD 800). Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not Type 1, not Type 2, and not the derivatives representative code 2.6Cv.

Status at cut-off

Published representative category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Securities Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · SEC-2.6D

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Securities Act 2005 · Section 29

What it permits

Type 1 representative of a broker-class dealer, not of a full-service dealer.

Who may hold it

An individual of a SEC-2.2 broker.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Same form as 2.6A. The dealer class on the file must be broker. USD figures on intermediary rows apply to a GBL applicant or holder and its representatives, as the directory footnote states.

Fees as at 1 July 2026

Processing fee Rs 2,500 (USD 200). Fixed annual fee Rs 27,000 (USD 800). Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not 2.6A (full-service Type 1) and not 2.6E (broker Type 2).

Status at cut-off

Published representative category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Securities Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · SEC-2.6E

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Securities Act 2005 · Section 29

What it permits

Type 2 representative of a broker-class dealer. Directory annual fee is Rs 24,000 (USD 800), a step below Type 1 broker representative.

Who may hold it

An individual of a SEC-2.2 broker.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. USD figures on intermediary rows apply to a GBL applicant or holder and its representatives, as the directory footnote states.

Fees as at 1 July 2026

Processing fee Rs 2,000 (USD 200). Fixed annual fee Rs 24,000 (USD 800). Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not 2.6D and not 2.6F.

Status at cut-off

Published representative category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Securities Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · SEC-2.6F

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Securities Act 2005 · Section 29

What it permits

Representative of a discount broker. No Type 1/2 split is printed on this directory row.

Who may hold it

An individual of a SEC-2.3 discount broker.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. USD figures on intermediary rows apply to a GBL applicant or holder and its representatives, as the directory footnote states.

Fees as at 1 July 2026

Processing fee Rs 2,500 (USD 200). Fixed annual fee Rs 27,000 (USD 800). Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not the discount-broker firm licence (2.3) and not a broker Type 1.

Status at cut-off

Published representative category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Securities Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · SEC-2.7A

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Securities Act 2005 · Section 30

What it permits

Representative of an unrestricted investment adviser.

Who may hold it

An individual of a 2.4 firm.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. USD figures on intermediary rows apply to a GBL applicant or holder and its representatives, as the directory footnote states.

Fees as at 1 July 2026

Processing fee Rs 2,500 (USD 250). Fixed annual fee Rs 27,000 (USD 900). Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not the 2.4 firm licence and not 2.7B/2.7C.

Status at cut-off

Published representative category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Securities Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · SEC-2.7B

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Securities Act 2005 · Section 30

What it permits

Representative of a restricted investment adviser. Directory: same form as 2.7A.

Who may hold it

An individual of a 2.5 firm.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. USD figures on intermediary rows apply to a GBL applicant or holder and its representatives, as the directory footnote states.

Fees as at 1 July 2026

Processing fee Rs 2,500 (USD 250). Fixed annual fee Rs 27,000 (USD 900). Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not 2.7A and not 2.5.

Status at cut-off

Published representative category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Securities Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · SEC-2.7C

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Securities Act 2005 · Section 30

What it permits

Representative of a corporate-finance adviser. Fees match a slightly higher processing band (Rs 3,100 / USD 200 processing; Rs 34,000 / USD 800 annual).

Who may hold it

An individual of a 2.5A firm.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. USD figures on intermediary rows apply to a GBL applicant or holder and its representatives, as the directory footnote states.

Fees as at 1 July 2026

Processing fee Rs 3,100 (USD 200). Fixed annual fee Rs 34,000 (USD 800). Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not 2.5A and not 2.7A.

Status at cut-off

Published representative category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Securities Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · SEC-3.1A

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Authorisation

Enabling law

Securities Act 2005 · Section 97

What it permits

Authorisation of a collective investment scheme structured as a single fund. The scheme is not its manager, custodian or administrator.

Who may hold it

The scheme (the legal person or trust that is the CIS). Functionaries need their own codes.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Except for foreign-scheme rows, USD figures apply to a GBL applicant or holder. Directory additional annual fees apply where the scheme is authorised to operate as a Special Purpose Fund or as a REIT — those are extra authorisations, not automatic with this code.

Fees as at 1 July 2026

Processing fee Rs 32,000 (USD 1,200). Fixed annual fee Rs 112,000 (USD 3,700). Directory additional annual fees apply where the scheme is authorised to operate as a Special Purpose Fund or as a REIT — those are extra authorisations, not automatic with this code. Additional annual Rs 200,000 (USD 6,300) is printed for SPF and for REIT authorisation on this row. Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not a CIS with more than one fund (3.1Bv), not a closed-end fund, not a VCC Fund, and not the CIS manager.

Status at cut-off

Published CIS category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Securities Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · SEC-3.1Bv

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Authorisation

Enabling law

Securities Act 2005 · Section 97

What it permits

Authorisation of a CIS with more than one fund. Processing and annual fees include the first fund and charge per additional fund.

Who may hold it

The umbrella CIS. Extra funds are fee units, not automatically extra legal persons.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Except for foreign-scheme rows, USD figures apply to a GBL applicant or holder. Directory additional annual fees apply where the scheme is authorised to operate as a Special Purpose Fund or as a REIT — those are extra authorisations, not automatic with this code.

Fees as at 1 July 2026

Processing Rs 25,000 (USD 1,400) including the first fund and Rs 5,000 (USD 300) for each additional fund. Annual Rs 90,000 (USD 4,000) including the first fund and Rs 18,000 (USD 600) per additional fund. Extra SPF/REIT annual fees are printed (Rs 200,000 / USD 5,000 on this row).

Neighbouring permissions

Not a single-fund CIS, not a PCC CIS, and not multiclass 3.1Dv.

Status at cut-off

Published CIS category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Securities Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · SEC-3.1Cv

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Authorisation

Enabling law

Securities Act 2005 · Section 97

What it permits

Authorisation of a CIS structured as a protected cell company. Fees are printed in USD per cell.

Who may hold it

The PCC CIS. Cells are fee units and asset-segregation units; tax compartments remain a tax-course question.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Directory additional annual fees apply where the scheme is authorised to operate as a Special Purpose Fund or as a REIT — those are extra authorisations, not automatic with this code.

Fees as at 1 July 2026

Processing USD 1,400 for the first cell and USD 300 for each additional cell. Annual USD 4,000 for the first cell and USD 600 per additional cell, plus SPF/REIT extras as printed.

Neighbouring permissions

Not an insurance PCC, not a VCC, and not a multiclass CIS.

Status at cut-off

Published CIS category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Securities Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · SEC-3.1Dv

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Authorisation

Enabling law

Securities Act 2005 · Section 97

What it permits

Authorisation of a multiclass CIS. Directory form/criteria columns are dashes. Fees are USD 300 processing and USD 600 annual on this row.

Who may hold it

The multiclass CIS. Share classes are not automatically sub-funds.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Blank form/criteria cells on the captured directory. Do not invent a PDF.

Fees as at 1 July 2026

Processing fee USD 300. Fixed annual fee USD 600. Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not 3.1Bv (more than one fund) and not 3.1Cv (PCC). Multiclass is its own code.

Status at cut-off

Published CIS category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Securities Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · SEC-3.2A

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Authorisation

Enabling law

Securities Act 2005 · Section 97

What it permits

Authorisation of a closed-end fund as a single fund. Closed-end is not a CIS merely because both sit in section 97.

Who may hold it

The closed-end fund vehicle.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Except for foreign-scheme rows, USD figures apply to a GBL applicant or holder. Directory additional annual fees apply where the scheme is authorised to operate as a Special Purpose Fund or as a REIT — those are extra authorisations, not automatic with this code.

Fees as at 1 July 2026

Processing fee Rs 25,000 (USD 1,200). Fixed annual fee Rs 90,000 (USD 3,700). Directory additional annual fees apply where the scheme is authorised to operate as a Special Purpose Fund or as a REIT — those are extra authorisations, not automatic with this code. Extra annual Rs 200,000 (USD 5,000) printed for SPF and REIT on this row. Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not a CIS, not a closed-end umbrella, and not a VCC.

Status at cut-off

Published closed-end category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Securities Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · SEC-3.2Bv

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Authorisation

Enabling law

Securities Act 2005 · Section 97

What it permits

Closed-end fund with more than one fund. Per-additional-fund fees apply.

Who may hold it

The closed-end umbrella.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Directory additional annual fees apply where the scheme is authorised to operate as a Special Purpose Fund or as a REIT — those are extra authorisations, not automatic with this code.

Fees as at 1 July 2026

Processing Rs 22,500 (USD 1,000) including the first fund and Rs 4,500 (USD 300) per additional fund. Annual Rs 81,000 (USD 4,000) including the first fund and Rs 18,000 (USD 600) per additional fund, plus SPF/REIT extras.

Neighbouring permissions

Not 3.2A, not a CIS umbrella, and not a PCC closed-end.

Status at cut-off

Published closed-end category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Securities Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · SEC-3.2Cv

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Authorisation

Enabling law

Securities Act 2005 · Section 97

What it permits

Closed-end fund as a PCC. USD per-cell fees match the CIS PCC pattern.

Who may hold it

The closed-end PCC.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Directory additional annual fees apply where the scheme is authorised to operate as a Special Purpose Fund or as a REIT — those are extra authorisations, not automatic with this code.

Fees as at 1 July 2026

Processing USD 1,400 first cell and USD 300 each additional cell. Annual USD 4,000 first cell and USD 600 each additional cell, plus SPF/REIT extras.

Neighbouring permissions

Not a CIS PCC and not an insurance PCC.

Status at cut-off

Published closed-end category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Securities Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · SEC-3.2Dv

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Authorisation

Enabling law

Securities Act 2005 · Section 97

What it permits

Multiclass closed-end fund. Form/criteria dashes; USD 300 / 600 fees like the CIS multiclass row.

Who may hold it

The multiclass closed-end fund.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Blank form/criteria cells on the captured directory.

Fees as at 1 July 2026

Processing fee USD 300. Fixed annual fee USD 600. Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not 3.2Bv and not 3.1Dv.

Status at cut-off

Published closed-end category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Securities Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · SEC-3.3A

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Recognition

Enabling law

Securities Act 2005 · Section 101

What it permits

Recognition of a foreign scheme as a single fund. Directory processing USD 900; annual fee printed as a dash. Foreign-scheme fees are excepted from the usual GBL USD footnote.

Who may hold it

The foreign scheme seeking recognition to be marketed or operated as the Act requires. A Mauritius distributor is another person.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Form/criteria dashes on the captured row. Section 101 is the locator.

Fees as at 1 July 2026

Processing USD 900. No fixed annual fee is printed on the 1 July 2026 single-fund foreign-scheme row.

Neighbouring permissions

Not a Mauritius CIS authorisation under section 97, and not the distributor’s FS-1.2 licence.

Status at cut-off

Published foreign-scheme category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Securities Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · SEC-3.3B

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Recognition

Enabling law

Securities Act 2005 · Section 101

What it permits

Recognition of a foreign scheme with sub-funds. Directory processing for the heading row is a dash; per-sub-fund processing bands are printed (USD 900 / 750 / 500).

Who may hold it

The foreign umbrella. Each sub-fund band is a fee fact.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Count sub-funds from the first to the 25th, 26th–50th, then 51st onwards as the directory table states.

Fees as at 1 July 2026

No single processing/annual pair on the heading row. Recognition of the 1st–25th sub-fund: USD 900 each; 26th–50th: USD 750 each additional; 51st and further: USD 500 each additional. Annual fees are printed as dashes.

Neighbouring permissions

Not 3.3A and not a Mauritius umbrella CIS.

Status at cut-off

Published foreign-scheme category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Securities Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · SEC-4.1

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Securities Act 2005 · Section 100

What it permits

Act as custodian of a CIS (or as the Securities Act requires for this code). This is scheme custody, not FS-1.7.

Who may hold it

The CIS custodian, often a bank or specialist custodian meeting section 100 and the criteria.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Dedicated form and criteria (PDF and Word). Except for foreign-scheme rows, USD figures apply to a GBL applicant or holder.

Fees as at 1 July 2026

Processing fee Rs 32,000 (USD 1,000). Fixed annual fee Rs 94,000 (USD 2,500). Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not FS-1.7, not SEC-7.1, not VA-1.3, and not the CIS manager.

Status at cut-off

Published CIS-functionary category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Securities Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · SEC-4.2

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Securities Act 2005 · Section 98

What it permits

Manage a CIS. The manager is not the scheme and not the custodian.

Who may hold it

The CIS manager company.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Except for foreign-scheme rows, USD figures apply to a GBL applicant or holder.

Fees as at 1 July 2026

Processing fee Rs 25,000 (USD 1,000). Fixed annual fee Rs 75,000 (USD 2,500). Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not SEC-3.1A, not an investment adviser, not FS-1.1 assets management as a substitute, and not a CIS administrator.

Status at cut-off

Published CIS-functionary category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Securities Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · SEC-4.3

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Approval

Enabling law

Securities Act 2005 · Section 99

What it permits

Approval as CIS administrator. Directory nature is approval, not a licence. Administration is NAV, transfer agency and records — not portfolio management.

Who may hold it

The administrator. Often a specialist or an MC affiliate; the approval is still this code.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Except for foreign-scheme rows, USD figures apply to a GBL applicant or holder.

Fees as at 1 July 2026

Processing fee Rs 15,000 (USD 500). Fixed annual fee Rs 36,000 (USD 1,200). Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not SEC-4.2, not FS-1.5 as a complete substitute, and not the scheme.

Status at cut-off

Published CIS-functionary approval as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Securities Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · SEC-6.1

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Authorisation

Enabling law

Securities Act 2005 · Section 29(3)

What it permits

Authorisation of a foreign full-service dealer including underwriting. Fees are USD-only. Brokerage regulations may still apply.

Who may hold it

A foreign dealer. Domestic representatives codes do not attach automatically.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Dedicated form. Home-state licence evidence belongs in the file.

Fees as at 1 July 2026

Processing fee USD 2,700. Fixed annual fee USD 8,000. Brokerage fees under the Stock Exchange (Brokerage) Regulations 1989 or any other enactment as applicable. Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not a domestic 2.1A, not FS-2.10 representative office, and not 6.2.

Status at cut-off

Published foreign-dealer category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Securities Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · SEC-6.2

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Authorisation

Enabling law

Securities Act 2005 · Section 29(3)

What it permits

Foreign full-service dealer excluding underwriting.

Who may hold it

A foreign dealer without underwriting on this authorisation.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars.

Fees as at 1 July 2026

Processing fee USD 700. Fixed annual fee USD 2,200. Brokerage as applicable. Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not 6.1 and not domestic 2.1B.

Status at cut-off

Published foreign-dealer category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Securities Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · SEC-6.3

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Authorisation

Enabling law

Securities Act 2005 · Section 29(3)

What it permits

Foreign broker-class dealer authorisation.

Who may hold it

A foreign broker.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars.

Fees as at 1 July 2026

Processing fee USD 400. Fixed annual fee USD 1,800. Brokerage as applicable. Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not 6.2 and not domestic 2.2.

Status at cut-off

Published foreign-dealer category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Securities Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · SEC-6.4

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Authorisation

Enabling law

Securities Act 2005 · Section 29(3)

What it permits

Foreign discount-broker authorisation. Lowest foreign-dealer fee band.

Who may hold it

A foreign discount broker.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars.

Fees as at 1 July 2026

Processing fee USD 200. Fixed annual fee USD 1,300. Brokerage as applicable. Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not 6.3 and not domestic 2.3.

Status at cut-off

Published foreign-dealer category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Securities Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · SEC-6.5

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Authorisation

Enabling law

Securities Act 2005 · Section 29(3)

What it permits

Foreign derivatives dealer authorisation.

Who may hold it

A foreign derivatives dealer.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars.

Fees as at 1 July 2026

Processing fee USD 900. Fixed annual fee USD 2,700. Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not domestic 2.1C and not a VASP.

Status at cut-off

Published foreign-dealer category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Securities Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · SEC-7.1

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Recognition

Enabling law

Securities Act 2005 · Section 155(2)(xc)

What it permits

Recognition of a remote custodian participating on a clearing and settlement facility licensed under the Securities Act. Fees are USD 900 processing and USD 1,700 annual.

Who may hold it

A remote (typically foreign) custodian recognised to participate on a licensed Mauritius clearing facility.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. No form column is printed on the captured remote-custodian table. Section 155(2)(xc) is the locator.

Fees as at 1 July 2026

Processing fee USD 900. Fixed annual fee USD 1,700. Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not SEC-4.1 CIS custodian, not FS-1.7, and not a participant that is simply a dealer.

Status at cut-off

Published recognition category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Securities Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · INS-1.1

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Insurance Act 2005 · Section 11 (restriction in section 7)

What it permits

Carry on long-term insurance business under a section 11 licence. Section 7 forbids carrying on insurance business without that licence.

Who may hold it

The long-term insurer. Agents and brokers are other codes.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Dedicated insurer form and criteria.

Fees as at 1 July 2026

Processing fee Rs 102,000. Fixed annual fee Rs 169,000. Variable: 0.35% of gross premium from policies issued on or after 1 July 2008. Structured investment-linked business: 0.35% of gross premium to a maximum of USD 10,000. Variable annual fees for insurer rows are payable within 20 days after the end of every quarter in September, December, March and June, as the directory footnote states. Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not general insurance, not the PCC twin, not captive insurance, and not a pension scheme.

Status at cut-off

Published insurer category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Insurance Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · INS-1.1Av

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Insurance Act 2005 · Section 11

What it permits

Long-term insurance in PCC form. Fees are USD per cell, not the rupee pair of INS-1.1.

Who may hold it

The PCC long-term insurer. Cells are fee and segregation units.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars.

Fees as at 1 July 2026

Processing USD 2,500 for the first cell and USD 750 for every additional cell. Annual USD 3,800 for the first cell and USD 750 for every additional cell. Variable 0.35% of gross premium (structured ILP cap USD 10,000). Variable annual fees for insurer rows are payable within 20 days after the end of every quarter in September, December, March and June, as the directory footnote states.

Neighbouring permissions

Not INS-1.1 (non-PCC), not a CIS PCC, and not a cell as a separate insurer by slogan.

Status at cut-off

Published PCC insurer category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Insurance Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · INS-1.2

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Insurance Act 2005 · Section 11

What it permits

Carry on general insurance business. Composite restrictions in the Insurance Act still apply.

Who may hold it

The general insurer.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars.

Fees as at 1 July 2026

Processing fee Rs 102,000. Fixed annual fee Rs 169,000. Variable: 0.35% of gross premium. Variable annual fees for insurer rows are payable within 20 days after the end of every quarter in September, December, March and June, as the directory footnote states. Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not long-term, not external insurance, and not a TPA.

Status at cut-off

Published insurer category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Insurance Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · INS-1.2Av

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Insurance Act 2005 · Section 11

What it permits

General insurance in PCC form. USD per-cell fees (first cell processing USD 2,200 / annual USD 3,400; additional USD 700).

Who may hold it

The general-insurance PCC.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars.

Fees as at 1 July 2026

Processing USD 2,200 first cell and USD 700 every additional cell. Annual USD 3,400 first cell and USD 700 every additional cell. Variable 0.35% of gross premium. Variable annual fees for insurer rows are payable within 20 days after the end of every quarter in September, December, March and June, as the directory footnote states.

Neighbouring permissions

Not INS-1.2 and not a captive PCC.

Status at cut-off

Published PCC insurer category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Insurance Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · INS-1.3

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Insurance Act 2005 · Section 11

What it permits

External insurance business. Directory name carries asterisks. Fees are USD 1,000 / 1,900 with no variable premium percentage printed.

Who may hold it

The external insurer as the Insurance Act defines that business. Read the Act’s definition; do not guess from the asterisks.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars.

Fees as at 1 July 2026

Processing fee USD 1,000. Fixed annual fee USD 1,900. No variable premium percentage is printed on this row. Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not domestic general insurance and not professional reinsurance (INS-1.4).

Status at cut-off

Published insurer category as at 1 July 2026. Directory punctuation preserved.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Insurance Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · INS-1.3Av

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Insurance Act 2005 · Section 11

What it permits

External insurance in PCC form. Per-cell USD fees (first cell USD 1,000 / 1,900; additional processing USD 300, additional annual USD 400).

Who may hold it

The external-insurance PCC.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars.

Fees as at 1 July 2026

Processing USD 1,000 first cell and USD 300 every additional cell. Annual USD 1,900 first cell and USD 400 every additional cell. No variable premium percentage printed.

Neighbouring permissions

Not INS-1.3 non-PCC and not INS-1.4Av.

Status at cut-off

Published PCC insurer category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Insurance Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · INS-1.4

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Insurance Act 2005 · Section 11

What it permits

Professional reinsurance. Directory name carries asterisks. Fees sit at the specialised-services scale (Rs 22,500 / USD 1,000 processing; Rs 52,000 / USD 1,900 annual).

Who may hold it

The professional reinsurer.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars.

Fees as at 1 July 2026

Processing fee Rs 22,500 (USD 1,000). Fixed annual fee Rs 52,000 (USD 1,900). No variable premium percentage printed. Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not a direct insurer, not an insurance broker, and not a reinsurance-broker tax item as a substitute for this licence.

Status at cut-off

Published reinsurer category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Insurance Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · INS-1.4Av

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Insurance Act 2005 · Section 11

What it permits

Professional reinsurance in PCC form. Per-cell USD fees match the external PCC additional-cell pattern.

Who may hold it

The professional-reinsurer PCC.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars.

Fees as at 1 July 2026

Processing USD 1,000 first cell and USD 300 every additional cell. Annual USD 1,900 first cell and USD 400 every additional cell.

Neighbouring permissions

Not INS-1.4 non-PCC and not a captive.

Status at cut-off

Published PCC reinsurer category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Insurance Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · INS-2.1

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Insurance Act 2005 · Section 70

What it permits

Act as insurance manager. Directory fees are USD 1,400 processing and USD 2,600 annual, plus additional USD 700 / 1,600 for Lloyd’s Coverholder.

Who may hold it

The insurance manager. Lloyd’s coverholder is an extra fee limb, not a separate directory code.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Criteria column is a dash on the captured row; form is present.

Fees as at 1 July 2026

Processing USD 1,400 plus additional USD 700 for Lloyd’s Coverholder. Annual USD 2,600 plus additional USD 1,600 for Lloyd’s Coverholder.

Neighbouring permissions

Not the insurer, not a captive insurance agent, and not a broker.

Status at cut-off

Published insurance-service-provider category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Insurance Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · INS-2.2A

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Insurance Act 2005 · Section 70

What it permits

Act as an insurance agent that is a company. Agents represent an insurer; they do not hold the insurer’s licence.

Who may hold it

A company agent appointed by an insurer.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars.

Fees as at 1 July 2026

Processing fee Rs 6,200 (USD 500). Fixed annual fee Rs 24,000 (USD 1,200). Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not an individual agent (2.2B), not a broker (2.3), and not a salesperson registration.

Status at cut-off

Published insurance-service-provider category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Insurance Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · INS-2.2B

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Insurance Act 2005 · Section 70

What it permits

Act as an individual insurance agent. Directory fees are rupee-only (Rs 3,100 / 9,300).

Who may hold it

A natural person agent.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars.

Fees as at 1 July 2026

Processing fee Rs 3,100. Fixed annual fee Rs 9,300. No USD pair is printed on this row. Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not the company-agent licence and not a salesperson registration (2.4).

Status at cut-off

Published insurance-service-provider category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Insurance Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · INS-2.3

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Insurance Act 2005 · Section 70

What it permits

Act as an insurance broker — independent placement, not a tied agent.

Who may hold it

The brokerage firm (or as the Act requires).

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars.

Fees as at 1 July 2026

Processing fee Rs 14,000 (USD 1,000). Fixed annual fee Rs 77,000 (USD 2,600). Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not an agent, not a professional reinsurer, and not a TPA.

Status at cut-off

Published insurance-service-provider category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Insurance Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · INS-2.4

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Registration

Enabling law

Insurance Act 2005 · Section 75

What it permits

Registration as an insurance salesperson. Directory nature is registration. Lowest insurance-service fee band.

Who may hold it

The salesperson, typically employed or attached as the Act requires.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars.

Fees as at 1 July 2026

Processing fee Rs 1,300. Fixed annual fee Rs 3,000. No USD pair is printed. Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not an individual agent licence and not a claims professional.

Status at cut-off

Published registration category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Insurance Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · INS-2.5

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Registration

Enabling law

Insurance Act 2005 · Section 78

What it permits

Registration as a claims professional. Directory form/criteria columns are dashes. Processing Rs 22,500; no annual fee printed.

Who may hold it

The claims professional as section 78 contemplates.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Blank form/criteria cells on the captured row. Do not invent a PDF.

Fees as at 1 July 2026

Processing Rs 22,500. No fixed annual fee is printed on the 1 July 2026 row.

Neighbouring permissions

Not a TPA, not an adjuster slogan, and not an insurer.

Status at cut-off

Published registration category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Insurance Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · INS-2.6

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Insurance Act 2005 · Section 78A

What it permits

Act as a third-party administrator under section 78A. Fees: Rs 25,000 (USD 900) processing; Rs 47,500 (USD 1,700) annual.

Who may hold it

The TPA company administering claims or benefits on behalf of an insurer or scheme as the Act allows.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars.

Fees as at 1 July 2026

Processing fee Rs 25,000 (USD 900). Fixed annual fee Rs 47,500 (USD 1,700). Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not a claims-professional registration, not an insurer, and not a CIS administrator.

Status at cut-off

Published insurance-service-provider category as at 1 July 2026. Section 78A, not section 78.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Insurance Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗

FSC · TAC-1.1

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Authorisation

Enabling law

Trusts Act 2001 · Section 2 (qualified trustee)

What it permits

Authorisation as a qualified trustee other than a management company. Every Mauritius trust needs at least one qualified trustee among not more than four trustees. A management company uses FS-3.1A/B instead.

Who may hold it

A Mauritius-resident person authorised by the Commission as a qualified trustee who is not an MC.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Dedicated form and criteria. Trusts Act sections 2 and 28 are the overlay.

Fees as at 1 July 2026

Processing Rs 9,000. No annual fee is printed on the 1 July 2026 Trusts Act table.

Neighbouring permissions

Not FS-3.1A/B, not the enforcer, and not the trust itself.

Status at cut-off

Published Trusts Act authorisation as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗Trusts Act 2001 — Laws of Mauritius (Version 3) ↗Anti-Money Laundering, Combatting the Financing of Terrorism and Countering Proliferation Financing (Miscellaneous Provisions) Act 2026 — Trusts Act overlays ↗

FSC · TAC-1.2

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Authorisation

Enabling law

Trusts Act 2001 · Sections 19 and 21

What it permits

Authorisation of the enforcer of a purpose trust created by a Mauritian national. The directory prints no fee. The enforcer must not act as trustee of the same trust (section 21(2)).

Who may hold it

The enforcer appointed under the purpose-trust terms, where the settlor is a Mauritian national so that Commission approval is required.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Form on the directory. No fee line is not a statement that approval is optional.

Fees as at 1 July 2026

No processing or annual fee is printed on the 1 July 2026 row.

Neighbouring permissions

Not the qualified trustee, not the successor enforcer (TAC-1.3), and not a protector.

Status at cut-off

Published Trusts Act authorisation as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗Trusts Act 2001 — Laws of Mauritius (Version 3) ↗

FSC · TAC-1.3

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Authorisation

Enabling law

Trusts Act 2001 · Section 19

What it permits

Authorisation of the designated successor enforcer of a purpose trust created by a Mauritian national. Directory prints no fee.

Who may hold it

The successor named in the terms, approved by the Commission where section 19 requires it.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Form on the directory. Successor status is not automatic on the enforcer’s death without the statutory mechanics.

Fees as at 1 July 2026

No processing or annual fee is printed on the 1 July 2026 row.

Neighbouring permissions

Not the sitting enforcer (TAC-1.2) and not a qualified trustee.

Status at cut-off

Published Trusts Act authorisation as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗Trusts Act 2001 — Laws of Mauritius (Version 3) ↗

FSC · PPS-1.1

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Private Pension Schemes Act 2012 · Section 9

What it permits

Licence of a private pension scheme. Variable annual fee Rs 30 per member. Processing Rs 6,000.

Who may hold it

The scheme. Members are not licensees.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Form, PDF and authority annex on the directory.

Fees as at 1 July 2026

Processing Rs 6,000. Variable annual fee Rs 30 per member. No separate fixed annual fee is printed beside the per-member charge.

Neighbouring permissions

Not a foreign scheme, not an external scheme, not the administrator (FS-1.3 or PPS-2), and not long-term insurance.

Status at cut-off

Published pension-scheme category as at 1 July 2026. Duplicate administration rows in older directories were de-duplicated in the course inventory.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗Private Pension Schemes Act 2012 ↗

FSC · PPS-1.2

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Private Pension Schemes Act 2012 · Section 10

What it permits

Foreign pension scheme permission. Processing USD 220; variable USD 1 per resident member.

Who may hold it

The foreign scheme, as section 10 contemplates. Resident members drive the variable fee.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars.

Fees as at 1 July 2026

Processing USD 220. Variable annual USD 1 per resident member.

Neighbouring permissions

Not PPS-1.1 and not a foreign CIS recognition.

Status at cut-off

Published foreign-scheme category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗Private Pension Schemes Act 2012 ↗

FSC · PPS-1.3

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Private Pension Schemes Act 2012 · Section 12

What it permits

External pension scheme permission. Processing USD 220; variable USD 1 per member (not limited to resident members on the printed row).

Who may hold it

The external scheme as section 12 defines it.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars.

Fees as at 1 July 2026

Processing USD 220. Variable annual USD 1 per member.

Neighbouring permissions

Not PPS-1.2 foreign schemes and not the PCC twin (PPS-1.3Cv).

Status at cut-off

Published external-scheme category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗Private Pension Schemes Act 2012 ↗

FSC · PPS-1.3Cv

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Private Pension Schemes Act 2012 · Section 12

What it permits

External pension scheme in PCC form. Processing USD 1,000 first cell and USD 300 each additional cell; variable USD 100 per member.

Who may hold it

The external PCC scheme. Form/criteria dashes on the captured row.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Blank form/criteria cells on the captured directory.

Fees as at 1 July 2026

Processing USD 1,000 for the first cell and USD 300 for every additional cell. Variable annual USD 100 per member.

Neighbouring permissions

Not PPS-1.3 non-PCC and not an insurance PCC.

Status at cut-off

Published PCC external-scheme category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗Private Pension Schemes Act 2012 ↗

FSC · PPS-2.1

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Authorisation

Enabling law

Private Pension Schemes Act 2012 · Section 27

What it permits

Authorisation of a governing body to administer a private pension scheme. Processing Rs 27,000 (USD 900). This is not FS-1.3.

Who may hold it

The governing body as section 27 contemplates.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Authority annex on the directory; criteria column is a dash.

Fees as at 1 July 2026

Processing Rs 27,000 (USD 900). No variable member fee is printed on this administration row.

Neighbouring permissions

Not FS-1.3 commercial PSA, not PPS-2.2, and not the scheme licence.

Status at cut-off

Published administration authorisation as at 1 July 2026. Deduplicated by code in the inventory.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗Private Pension Schemes Act 2012 ↗

FSC · PPS-2.2

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Authorisation

Enabling law

Private Pension Schemes Act 2012 · Section 27

What it permits

Authorisation of a long-term insurer to administer a private pension scheme. Processing Rs 30,000 (USD 900) plus beneficiary-band variables.

Who may hold it

A long-term insurer that also holds this administration authorisation.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars.

Fees as at 1 July 2026

Processing Rs 30,000 (USD 900). Variable: 10,001–15,000 beneficiaries Rs 10,000 (USD 350); 15,001–20,000 Rs 15,000 (USD 500); more than 20,000 Rs 20,000 (USD 700).

Neighbouring permissions

Not INS-1.1 by itself, not FS-1.3, and not PPS-2.1.

Status at cut-off

Published administration authorisation as at 1 July 2026. Deduplicated by code.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗Private Pension Schemes Act 2012 ↗Insurance Act 2005 ↗

FSC · CI-1.1A

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Captive Insurance Act 2015 (directory table header still prints Insurance Act 2005) · Captive Insurance Act section 7(4) licence; directory row cites Insurance Act section 7

What it permits

Carry on a category of captive insurance business licensed under the Captive Insurance Act. Section 8 limits classes; compulsory-insurance risks on a direct basis are barred. The FSC directory header for this row still says Insurance Act section 7 — record both locators.

Who may hold it

The captive insurer. Application is on FSCOne per the directory. A GBL overlay, if any, is extra (Captive Insurance Act section 13).

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Criteria PDF on the directory. Application contents are in Captive Insurance Act section 7 (business plan, officers, fee).

Fees as at 1 July 2026

Processing fee USD 1,000. Fixed annual fee USD 2,000. Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not INS-1.2, not the captive agent (CI-2.1), and not an insurance manager as a substitute for the captive licence.

Status at cut-off

Published captive category as at 1 July 2026. Specialist statute is the Captive Insurance Act, despite the directory header.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Insurance Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗Captive Insurance Act 2015 ↗

FSC · CI-2.1

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Approval (directory: licence row; Act: approved under section 9)

Enabling law

Captive Insurance Act 2015 · Section 9 (directory cites Insurance Act section 9)

What it permits

Act as captive insurance agent. The Act defines a captive insurance agent as a person approved under section 9. Company and individual forms are both linked on the directory.

Who may hold it

The person approved as captive insurance agent — company or individual as the forms allow.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Separate company and individual forms on the directory.

Fees as at 1 July 2026

Processing fee USD 1,000. Fixed annual fee USD 1,500. Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not the captive insurer, not INS-2.1 insurance manager as a complete substitute, and not INS-2.2A.

Status at cut-off

Published captive-agent category as at 1 July 2026.

Open the Special Licences chapter

Inventory reference: 2026-07-01 · Regulatory source ↗

FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Insurance Act 2005 ↗FSC licensing and fees amendment rules 2026 ↗FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗FSC rules and regulations directory ↗Captive Insurance Act 2015 ↗

FSC · VA-1.1

Inventory note: Published regulatory category. Read the permission facts against the Act, the directory and the date.

Legal nature

Licence

Enabling law

Virtual Asset and Initial Token Offering Services Act 2021 · Section 7

What it permits

Carry on VASP business as Class M (broker-dealer) under section 7. Directory prints dual USD/MUR figures.

Who may hold it

A company carrying on VASP activities in or from Mauritius, as VAITOS applies.

Key criteria

Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Class-specific criteria PDF on the directory.

Fees as at 1 July 2026

Processing fee USD 1,000 (MUR 45,000). Fixed annual fee USD 2,000 (MUR 90,000). Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises.

Neighbouring permissions

Not a securities investment dealer, not Class R custody, not Class S marketplace, and not FS-1.14.

Status at cut-off

Published VASP class as at 1 July 2026.