Mauritius Credit Finance License

• Before getting Mauritius Credit License, it is compulsory to register for a legal entity in Mauritius, that will serve as the licensed finance company. Tetra Consultants will ensure that your corporate structure is aligned with FSC’s regulatory requirements.  

• Based on your business activities, we will help you to recognize the correct license. In Mauritius there are four types of credit finance license, Tetra Consultants will help you select the most appropriate type of license based on your business activity.  

• After selecting the type of license, Tetra Consultants will then help you in collecting all the documents needed to support your licensing application. This will include application forms, creating a detailed business plan outlining all the key details of your business, and preparing financial statements. We will also help you in drafting AML and risk management policies.  

• Manuals and policies– Tetra Consultants will assist you in drafting compliance manuals, risk management policy, disaster recovery, AML/CFT policies, along with a business continuity plan.  

• Terms and conditions– Apart from manuals and policies, our legal team will also help you in drafting all the agreements for your clients, along with the terms of your services and how the business will be conducted.  

• Tetra Consultants will now submit your application to the FSC and will include all the requirements, forms, and documents.  

• The FSC will also conduct:  
  • Fit and proper evaluation– For promoters, shareholders, officers, and directors (such as reviewing CBs, ID, professional qualifications, and proof of address).  
  • Evaluation of operational readiness– Review your business model, financial projections, and compliance frameworks.  
  • Verification of corporate structure– For domestic companies, Tetra Consultants will ensure that at least two full-time officers are resident in Mauritius.  

• After the background checks and evaluation are conducted, FSC will also request any additional information and even clarification during the review process. Tetra Consultants on your behalf will answer all the additional queries from FSC.  

• Furthermore, the FSC is going to issue approval as the application complies with all the needed requirements and passes all the checks.  

• Lastly, to get a Mauritius Credit Finance License, it is mandatory to set up the physical office, hire qualified employees, and incorporate approved processes. Tetra Consultants will help you in setting up the office, hiring local staff, and ensuring compliance with all the FSC reporting, notification requirements, and auditing requirements. 

Documents needed for Mauritius Credit Finance License 

• In order to apply for Mauritius Credit Finance License, a detailed list of documents will be submitted by Tetra Consultants to the FSC which are as follows: 

Corporate and company documents  

• Business registration card. 

• License application authorized by the board and shareholders.  

• Statutory documents of the company.  

• List of shareholders and directors.  

• Certificate of incorporation along with Certificate of current standing.  

Directors and shareholders 

• CV of shareholders and directors. 

• Address proof such as recent bank statement.  

• Notarized passport copies.  

• Reference letter from their banks (should not be older than 6 months).  

Compliance documents  

• Detailed business plan consisting of reason for doing business, background of shareholders, detailed description of business activities, target customers, and organizational structure.  

• Risk management policy. 

• CFT/AML policies along with internal procedures and compliance manual.  

• Terms of service and drafted client agreements.  

• Board structure details and measures taken for corporate governance.  

Financial documents  

• Latest financial statements that are audited (this is for existing companies).  

• Financial predictions for the next 4-5 years. In this include profit and loss statement, balance sheet, and cash flow.  

• Corporate profile.  

• Details and evaluation of sources of funds with proper documentary evidence.  

Requirements for Mauritius Credit Finance License  

• The company should have at least two directors who are the resident of Mauritius. The directors and managers should meet all the “fit and proper requirements” which are defined under the Financial Services Act 2007. At Tetra Consultants we provide nominee director services for complying with such regulatory requirements.  

• The company should have at least one shareholder, who can either be resident or non-resident of Mauritius. 

• Shareholders should provide documents to FSC to verify the sources and legitimacy of funds invested in the company. 

• Credit Finance License companies in Mauritius should maintain MUR 30 million or 5% of total liabilities, whichever is higher.  

• Global business companies are also subjected to FSC discretion, with capital adequacy requirements that are aligned with cross-border operations.  

• Businesses will also have to maintain office space and local staff to fulfill the substance criteria.  

• Business entities will also have to incorporate anti-money laundering and counter-terrorism financing measures.  

• Establish systems for credit risk evaluation and mitigation.  

Common challenges in obtaining Mauritius Credit Finance License

Complex regulatory requirements  

• Businesses such as smaller business entities, even startups of SMEs usually find it difficult to provide the minimum capital that is MUR 30 million or even 5% of the total liabilities, which are difficult to gather. Furthermore, it is also resource-intensive for small businesses to establish a physical office, hire local staff, and showcase core-income producing activities.  

• Creating anti-money laundering as well as counter-terrorist financing policies that fulfill FSC standards usually requires special legal expertise. Tetra Consultants also provide legal drafting services where our legal experts will help you in drafting AML/CFT policies. 

Regulatory and procedural delay  

• Background verifications for shareholders and directors also take up to several weeks and months, especially for foreign applicants who have complex ownership structures. The review process is also halted by late responses to regulatory requests, such as clarifications on collateral policies. Global business companies in Mauritius also have to deal with additional security if lending involves various jurisdictions. At Tetra Consultants we provide nominee director services, and our team will make sure that all the paperwork is properly filed and submitted to ensure there are no regulatory and procedural delays.  

Legal and structural missteps 

• Most of the business entities mistakenly assume that exemptions apply, which leads to unlicensed operations. GBCs also lend within Mauritius without any license risk, fines, or in some cases, imprisonment. After licensing registration with the Money Credit Information Bureau is compulsory but is often overlooked. Tetra Consultants will also offer ongoing support to make sure that your company meets all the regulatory obligations effectively.  

Documentation and application failures 

• Missing operational manuals, unclear process flows, along with flawed financial projections, usually lead to rejections and delays. The FSC thoroughly evaluates market viability, client onboarding procedures, and risk management strategies which startups most of the time underestimate. At Tetra Consultants we will ensure that all the necessary documents are submitted with your license application so that it passes all the checks smoothly.  

Cross-border and operational risks  

• Lending across borders usually requires strict compliance with both the Mauritian laws as well as foreign regulations, which complicates risk evaluations. Strict customer protection laws limit collection methods and increase default risks without any robust collateral policies. While there is no explicit cap, the FSC has enforced fair lending practices, which restricts pricing flexibility.  

Market competition  

• New entrants often struggle against established banks along with fintech platforms providing lower rates or digital-first solutions. Operating without any license risks fines up to at least MUR 1 million along with imprisonment for up to the period of five years.  

Ownership and governance hurdles 

• Background verifications for shareholders and directors, especially foreign applicants with difficult ownership structures, can take at least 3 to 4 months. Global business companies in Mauritius must get a license, but several misinterpret the exemptions for cross-border activities. After registration of the company, the business should also be registered with the Money Credit Information Bureau, which is compulsory but is often overlooked. At Tetra Consultants we will ensure that your business is registered with the relevant authorities, and our team of experts will also provide post-compliance support.  

• In order to overcome these challenges, you need to collaborate with experienced service providers or even consultants who are familiar with the Mauritian regulatory landscape can streamline the application procedure. These experts such as Tetra Consultants help you with preparing documents, liaising with authorities, and also ensuring adherence with the local requirements, this also saves time and also reduces errors. 

Cost of getting a Mauritius Credit Finance License 

• When engaging with Tetra Consultants cost of getting a Mauritius Credit Finance License includes a myriad of expenses such as preparing documents, professional services, company registration, regulatory compliance services, and adherence to local rules and regulations. The general cost structure is inclusive of all the charges such as setting up the registered office, as well as filing documents with the FSC.  

• At Tetra Consultants, our pricing model offers a detailed outline of all the expenses that one can incur while getting a Mauritius Credit Finance License. This provides a clear idea to the clients regarding what they are paying for and enables them to plan for any upcoming expenses arising from operational requirements along with ongoing compliance. Hence, Tetra Consultants provide their clients with transparent pricing, helping them to make effective business decisions without any extra financial constraints.  

Looking to obtain Mauritius Credit Finance License 

• Creating a credit finance company in Mauritius is a strategic move for investors looking for a reputable, well-regulated jurisdictions in the African as well as global financial markets. Mauritius remains a top choice for credit lenders, because of its supportive business policies, international reputation, and regulatory atmosphere. However, navigating the regulatory landscape of Mauritius is a time-consuming task. This is where Tetra Consultants comes to your aid. At Tetra Consultants from day one we will be by your side assisting you in successful company incorporation.  

• Our experienced team of consultants will thoroughly explain to you all the compliance obligations, operational issues, and documents needed, to help you make an informed decision. Later, we will help you in opening a corporate bank account and submitting your license application to the FSC.  

• Tetra Consultants will act as your single point of contact with the FSC and will address any additional requirements, clarifications, and queries.  

• Contact us to know more about Mauritius Credit Finance License and our team will get back to you in 24 hours. 

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