Mauritius Payment Service Provider License
The Republic of Mauritius is a sovereign island nation located in the Indian Ocean and a member of the British Commonwealth. The island is a parliamentary democracy with a strong constitution and stable government. English is commonly spoken on the Island and the United States Dollar is widely accepted. The economy of Mauritius is driven by its status as an international financial services hub. Notably, the island nation is known for the Mauritius Payment Service Provider License.
Under the Financial Services Development Act of 2001, the government of Mauritius established the nation as a global financial services powerhouse recognized by sophisticated financial professionals the world over. Mauritius hosts over 300 licensed financial institutions. The nation offers a competitive tax rate of 3% and zero percent on capital gains for corporations operating offshore. Moreover, the nation has significant impediments to the registration of foreign judgments making it suitable for asset protection purposes.
Mauritius is an ideal jurisdiction for obtaining a payment service provider license. Mauritius offers a Global Business License which covers all related payments activity, including peer-to-peer remittances. The Mauritius Payment Service Provider License is recognized world-wide and many top payment service providers are licensed in Mauritius. In addition, the process of obtaining a license is both cost effective and can be accomplished quickly.
Advantages of a Mauritius Payment Service
In recent years, payment service providers based in traditional financial hubs such as the United States and European Union have faced near untenable amounts of regulatory scrutiny. In reaction to this, payment service providers have become increasingly limited in the industries they serve, foregoing not only traditional high-risk markets but also more traditional, conservative businesses. An offshore payment service provider license provides a respected platform for operating a payments-related business free from the encumbrances faced by operators in larger jurisdictions.
Mauritius Payment Service Provider License at a Glance
|License||Global Business License – Payment Intermediary|
|Time to License||3 to 4 Months|
|Tax Structure||Approx. 3% Percent Tax on Offshore Profits|
Mauritius Payment Service Provider License Package
- Incorporation of Mauritius offshore corporation
- Arrange for local registered officer and local directors, if required
- Draft corporate bylaws, minutes and owner share issuances
- Establishment of corporate bank account suitable for forex operations
- Establishment of merchant service account for accepting credit and debit cards
- Draft requisite business plan, financial statements and financial projections
- Draft requisite Anti-Money Laundering & Know-Your-Customer policies
- Arrange for requisite surety bond
- Prepare and process application for Mauritius Global Business License
- Representation before licensing regulatory authority, banks and liquidity providers
Contact the Mauritius Payment Intermediary License Experts
Trust our over fifty year’s combined experience in creating innovative solutions for our clients. Contact the securities
licensing experts at FinLaw to begin the process of obtaining your Mauritius Global Business License today.
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