# Financial Services Commission (FSC): register, licences and requirements

Source page: https://protegra.io/licensing/regulators/fsc-mauritius/

The Financial Services Commission (FSC) is Mauritius's integrated non-banking financial regulator, established in 2001. Operating under the Financial Services Act 2007, it oversees the global business sector accounting for over 8 percent of national GDP. The FSC licenses investment dealers, investment advisers, collective investment scheme managers, and virtual asset service providers across 5 specialised classes under the VAITOS Act 2021.

## How to check a firm on the FSC register

The register allows the public to verify whether an entity holds an active licence by conducting a free-text search by entity name or filtering by licence category. An active entry displays the company's full legal name, licence category, licence reference number, and current authorization status. [3]

- [Official Register of Licensees covering all FSC-regulated entities across capital markets, global business, investment funds, insurance, pensions, and virtual asset service providers](https://www.fscmauritius.org/en/supervision/register-of-licensees) [3]

## At a glance

| Official name | Financial Services Commission |
| --- | --- |
| Jurisdiction | [Mauritius](https://protegra.io/licensing/jurisdictions/mauritius/) |
| Type | Integrated financial regulator |
| Headquarters | Ébène [1] |
| Founded | 2001 [2] |
| Website | [fscmauritius.org](https://www.fscmauritius.org/en) [2] |
| Public register | [Official public register](https://www.fscmauritius.org/en/supervision/register-of-licensees) [3] |
| Licence types in the Atlas | 7 |

## What FSC supervises

The FSC is the integrated statutory regulatory authority for non-banking financial services and global business in Mauritius, mandated under the Financial Services Act 2007 to licence, regulate, monitor, and supervise conduct in securities, investment funds, insurance, pensions, and virtual assets. [10]

- capital markets and securities intermediaries including investment dealers and investment advisers [11]
- collective investment schemes and CIS managers under the Securities Act 2005 [11]
- virtual asset service providers (broker-dealers, wallet services, custodians, advisers, market places) and initial token offering issuers under the VAITOS Act 2021 [12]
- global business corporations (Global Business Licences and Authorised Companies) and management companies under the Financial Services Act 2007 [10]
- specialised financial business activities including crowdfunding, peer-to-peer lending, factoring, leasing, and credit finance [10]

## Licences FSC issues

- [IF · MauritiusInvestment Adviser Licence](https://protegra.io/licensing/licences/investment-firm/mauritius-investment-adviser/)
- [IF · MauritiusInvestment Dealer Licence](https://protegra.io/licensing/licences/investment-firm/mauritius-investment-dealer/)
- [VASP · MauritiusVirtual Asset Advisory Services (Class I)](https://protegra.io/licensing/licences/vasp/mauritius-class-i/)
- [VASP · MauritiusVirtual Asset Broker-Dealer (Class M)](https://protegra.io/licensing/licences/vasp/mauritius-class-m/)
- [VASP · MauritiusVirtual Asset Wallet Services (Class O)](https://protegra.io/licensing/licences/vasp/mauritius-class-o/)
- [VASP · MauritiusVirtual Asset Custodian (Class R)](https://protegra.io/licensing/licences/vasp/mauritius-class-r/)
- [VASP · MauritiusVirtual Asset Market Place (Class S)](https://protegra.io/licensing/licences/vasp/mauritius-class-s/)

## Lesser-known services for applicants

Available

### Pre-application meeting / pre-assessment

Prospective applicants may request a pre-application consultation meeting with FSC supervision teams by prior appointment to clarify regulatory expectations and structure; no formal advisory opinions are issued, and meetings are conducted free of charge. [4]

Available

### Innovation hub

The FSC operates an Innovation Office alongside a dedicated Fintech and Innovation webpage (launched in November 2023) providing direct regulatory guidance on novel fintech models, an overarching compendium of fintech frameworks, and stakeholder engagement. [5]

Available · policy

### Regulatory sandbox

The FSC operates a regulatory sandbox under its Regulatory Sandbox Guidelines (revised November 2023) granting Regulatory Sandbox Authorisations (RSAs) with a $0 application fee for testing innovative fintech products in a live, contained environment for 12 to 24 months with tailored reporting safeguards. [5]

**Application portal:** FSCOne Platform, the FSC's official digital submission portal for licensing applications, stakeholder officer appointments and profiles, and fee administration [6]

**Fee schedule:** Financial Services (Consolidated Licensing and Fees) Rules 2008, as amended by the Financial Services (Consolidated Licensing and Fees) (Amendment) Rules 2026 (GN No. 119 of 2026, effective 1 July 2026) [7]

Compare with other regulators: [pre-application meetings](https://protegra.io/licensing/tools/pre-application/) · [sandboxes and innovation hubs](https://protegra.io/licensing/tools/sandboxes/).

## Statistics

- The global business sector supervised by the FSC accounts for more than 8 percent of Mauritius' gross domestic product and employs over 5,600 people [2]

## Fees and timelines

| Licence | Fee | Amount |
| --- | --- | --- |
| Management Licence | application | USD 600 [7] |
| Management Licence | annual | USD 2,600 [7] |
| [Investment Dealer Licence](https://protegra.io/licensing/licences/investment-firm/mauritius-investment-dealer/) | application | USD 500 to USD 3,250 [8] |
| [Virtual Asset Broker-Dealer (Class M)](https://protegra.io/licensing/licences/vasp/mauritius-class-m/) | application | MUR 2,000,000 minimum capital requirement [9] |
| [Virtual Asset Custodian (Class R)](https://protegra.io/licensing/licences/vasp/mauritius-class-r/) | application | MUR 5,000,000 minimum capital requirement [9] |
| [Virtual Asset Market Place (Class S)](https://protegra.io/licensing/licences/vasp/mauritius-class-s/) | application | MUR 6,500,000 minimum capital requirement [9] |

_Time to a decision for Investment Dealer Licence: statutory deadline vs observed._

| Licence | Statutory deadline | Observed |
| --- | --- | --- |
| [Investment Dealer Licence](https://protegra.io/licensing/licences/investment-firm/mauritius-investment-dealer/) | Within 10 working days from the date an application is determined by the Commission to be complete, pursuant to Section 17B of the Financial Services Act 2007 (inserted by Act 11 of 2024, in force 1 October 2024) [10] | 4 to 7 months from initial submission to final licensing, accounting for preparation, due diligence vetting, and local operational substance establishment [8] |
| [Virtual Asset Broker-Dealer (Class M)](https://protegra.io/licensing/licences/vasp/mauritius-class-m/) | No fixed statutory deadline; Section 17C(2)(b) of the Financial Services Act 2007 explicitly exempts applications for licences under the Second Schedule to the VAITOS Act 2021 from the 10-working-day determination requirement in Section 17B [10] | not published |

## Changing the owner of a licensed firm

**Prior approval required.** Under Section 23 of the Financial Services Act 2007 and Section 16 of the VAITOS Act 2021, any issue or transfer of shares or legal or beneficial interest in a licensee requires the prior approval of the FSC, and any unauthorized transfer is void. Prior approval is not required for transfers under 5% (unless resulting in an individual holding over 20% or a change of control) or transfers to existing shareholders that do not alter control, both of which require written notification to the Commission. A controller is defined as any person holding or controlling not less than 20% of shares or voting power, or able to exercise significant influence, or holding board appointment/removal powers. Controllers and beneficial owners are subject to fit and proper vetting. [10]

Buying a company that already holds one of these licences is often faster than applying. See [ready-made licensed companies](https://protegra.io/companies/) · [investment brokerage](https://protegra.io/companies/investment-brokerage/).

## Laws FSC applies

- [The Virtual Asset and Initial Token Offering Services Act 2021](https://protegra.io/licensing/laws/mu-vaitos-act-2021/): Act No. 21 of 2021

## Recent and upcoming changes

- 2026-07-01: Financial Services (Consolidated Licensing and Fees) (Amendment) Rules 2026 (GN No. 119 of 2026) came into force, raising the Global Business Company (GBC) annual licence fee to USD 2,600 and the processing fee to USD 600, while increasing Authorised Company fees to USD 1,400, with an extended payment grace window to 30 September 2026. [7]
- 2026-04-24: FSC Mauritius mandated digital submissions for all officer approval applications, resignations, and stakeholder due diligence profiles exclusively through the FSCOne Platform. [6]
- 2026-01-05: FSC introduced the Known to the Commission (KTC) fast-track framework under Circular Letter CL050126, accelerating licensing and approvals for repeat investors, directors, and entities with an established track record in Mauritius. [4]
- 2024-10-01: Section 17B of the Financial Services Act 2007 (inserted by Act 11 of 2024) came into force, establishing a statutory requirement for the FSC to grant complete licence applications within 10 working days, while Section 17C(2)(b) explicitly exempted VAITOS Act virtual asset licence applications. [10]

## Contacts and public register

Address: FSC House, 54 Cybercity, Ébène 72201, Republic of Mauritius [1]
Website: [fscmauritius.org](https://www.fscmauritius.org/en) [2]

Check whether a firm is licensed: [official register](https://www.fscmauritius.org/en/supervision/register-of-licensees) [3].

## Frequently asked questions

### What is the regulatory mandate of FSC Mauritius?

Established in 2001, the FSC is the single integrated statutory regulator for non-banking financial services and global business in Mauritius. It regulates capital market intermediaries, collective investment schemes, insurers, private pension schemes, and virtual asset service providers, while the Bank of Mauritius oversees commercial banking institutions.

### What classes of VASP licences does FSC Mauritius issue?

Under the VAITOS Act 2021, the FSC issues five classes of Virtual Asset Service Provider licences: Class M (broker-dealer), Class O (wallet services), Class R (custodian), Class I (advisory services), and Class S (virtual asset marketplace / exchange). Each class imposes specific statutory capital thresholds and mandatory local substance in Mauritius.

### What is the statutory decision deadline for FSC licence applications?

Under Section 17B of the Financial Services Act 2007 (effective October 2024), the FSC must grant complete applications within 10 working days of determining completeness. However, Section 17C explicitly exempts VAITOS Act virtual asset applications, which realistically observe 4 to 9 months of regulatory review.

### Is prior FSC approval required for a change of control?

Yes. Under Section 23 of the Financial Services Act 2007 and Section 16 of the VAITOS Act 2021, issuing or transferring shares or legal or beneficial interest in a licensee requires prior FSC approval. Transfers under 5% that do not result in a change of control require written notification rather than prior consent.

### Does FSC Mauritius offer a regulatory sandbox or fintech hub?

Yes. The FSC maintains an Innovation Office and operates a regulatory sandbox framework governed by its Regulatory Sandbox Guidelines. Innovative fintech and virtual asset firms can apply for a Regulatory Sandbox Authorisation (RSA) with a $0 application fee to test new products under customized supervisory parameters for 12 to 24 months.

## Sources

1. [fiumauritius.org: fiu](https://www.fiumauritius.org/fiu/?page_id=1121): retrieved 2026-09-24
2. [en.wikipedia.org: Financial Services Commission (Mauritius)](https://en.wikipedia.org/wiki/Financial_Services_Commission_(Mauritius)): retrieved 2026-09-24
3. [fscmauritius.org: register of licensees](https://www.fscmauritius.org/en/supervision/register-of-licensees): retrieved 2026-09-24
4. [global.acclime.com: fsc licensing repeat investors mauritius](https://global.acclime.com/news/fsc-licensing-repeat-investors-mauritius/): retrieved 2026-09-24
5. [applebyglobal.com: fintech developments mauritius the fsc launches a new fintec](https://www.applebyglobal.com/news/fintech-developments-mauritius-the-fsc-launches-a-new-fintech-webpage-and-updates-its-regulatory-sandbox-guidelines/): retrieved 2026-09-24
6. [global.acclime.com: fsc mauritius moves officer approval submissions fscone plat](https://global.acclime.com/news/fsc-mauritius-moves-officer-approval-submissions-fscone-platform/): retrieved 2026-09-24
7. [global.acclime.com: mauritius fsc raises gbc fees 2026](https://global.acclime.com/news/mauritius-fsc-raises-gbc-fees-2026/): retrieved 2026-09-24
8. [gfscglobal.com: mauritius forex brokerage licenses](https://www.gfscglobal.com/mauritius-forex-brokerage-licenses/): retrieved 2026-09-24
9. [salvusfunds.com: establishing a vasp under the vaitos act in mauritius in 202](https://salvusfunds.com/2026/03/18/establishing-a-vasp-under-the-vaitos-act-in-mauritius-in-2026/): retrieved 2026-09-24
10. [lawsofmauritius.govmu.org: web](https://lawsofmauritius.govmu.org/portal/viewlegislationdocument/web/?doctitle=RmluYW5jaWFsIFNlcnZpY2VzIEFjdA==&docnumber=&doctype=act): retrieved 2026-09-24
11. [lawsofmauritius.govmu.org: web](https://lawsofmauritius.govmu.org/portal/viewlegislationdocument/web/?doctitle=U2VjdXJpdGllcyBBY3Q=&docnumber=&doctype=act): retrieved 2026-09-24
12. [lawsofmauritius.govmu.org: web](https://lawsofmauritius.govmu.org/portal/viewlegislationdocument/web/?doctitle=VmlydHVhbCBBc3NldCBhbmQgSW5pdGlhbCBUb2tlbiBPZmZlcmluZyBTZXJ2aWNlcyBBY3QgMjAyMQ==&docnumber=&doctype=act): retrieved 2026-09-24

Last verified 2026-09-24 · Author: Danil Marmysh · Reviewed by Anastasia Sidorenkova · © Protegra. Data: CC BY 4.0, cite "Protegra Licensing Atlas". Not legal advice.