Eternity Law International — News — PSP license in Mauritius

PSP license in Mauritius

Published:
May 26, 2023

In recent years, such a commercial direction as the business-activities of providing payment services – PSPs – became widely popular and attractive in commercial sphere globally. Companies acting as PSPs are one of most lucrative and progressing business-activities for entrepreneurs. Accordingly, with the growing popularity of such business projects, more and more states are beginning to form a separate regulative framework for official approval and official certification of this direction. Obtaining such a permit as Payment Service Providers license in Mauritius is an opportunity to become part of a progressive and constantly evolving niche as part of a reliable and cost-effective space. Our firm is great experts in commercial establishment and licensing field. We offer professional sale payment service providers license in Mauritius with complete support on every stage.

About Mauritius asset payment services providers: business-activities covered by PSP license in Mauritius

Presence of Mauritius Payment Service Providers license gives companies the formal right to establish commercial relations with firms and individuals. Services range being permitted under PSP license in Mauritius includes the following:

  • open e-wallets;
  • draw up and open accounts for clients;
  • process payments, card transactions, and more;
  • replenish clients’ wallets;
  • perform operations and transactions with the help of third-party providers;
  • online-banking activities;
  • conducting transactions between clients;
  • if you’re intending to obtain payment service providers license in Mauritius, you’ll be able to conduct SWIFT-transactions, etc.

In some way and with the breadth of the concept, the person intending to get PSP license in Mauritius receives the powers of a banking institution, however, while working in the online sector. The only and most significant parameter that distinguishes PSP from full-fledged financial institutions is the presence of a ban on accepting and processing deposits, and accepting refunds. Thus, the procedure to obtain payment service providers license in Mauritius may be in some ways different. 

Republic of Mauritius Payment Services Provider (PSPs) license: key regulations and standards 

Applications that applicants submit because of the reason to get PSP license in Mauritius are pending for approximately six months. In order to get payment service providers license in Mauritius and for getting official rights to conduct business-activities, companies need to comply with certain standards and fulfill a number of conditions below.

  1. Payment of starting capital, amount of which must be at least 50,000 USD.
  2. Ensure location in the jurisdiction by renting or purchasing office space, which will be supported by documentary evidence.
  3. Organize a personal meeting and negotiations of the founders with the regulator.
  4. Hire three directors, one of whom need to have a residence.
  5. Hire a local MLRO-officer.

Organization applying for Payment Service Providers license in Mauritius needs to also possess two operational resident employees. In addition, firms should also hire a manager responsible for full correspondence with internal regulations and general rules put forward by the regulator.

Documents to be prepared by licensees for Mauritius Payment Service Providers license include the following:

  • passports and other complete personal information about the founders and representatives of the management team of the company, and confirmation of specialized background;
  • certificates confirming absence of a criminal record and any problems with the law;
  • detailed and correctly formed organizational structure of the enterprise;
  • technical support of the company;
  • assessment of possible risks and forecasts regarding potential profit;
  • business plan;
  • AML policies and procedures.

Regulative authority may also additionally claim for any data and so on. It is extremely difficult to take into account all the nuances on your own. Therefore, if you’re intending to obtain PSP license in Mauritius we recommend that you contact our professionals. Businessmen may also turn to such option as PSP license in Mauritius for sale.

Strengths and pros of Mauritius

Launch and establishment of a PSP-business locally as well as to obtain PSP license in Mauritius is distinguished by a number of rather appealing privileges:

  • corporate taxation is 3%;
  • fast, understandable and transparent procedure for establishing a firm and licensing;
  • a clear and well-formed regulative basis, created according to EU-model;
  • ability to open multi-currency accounts;
  • a wide market of highly-qualified professional personnel;
  • there are no restrictions for companies and persons of non-residents;
  • complete keeping and further provision of confidentiality.

It’s worth noting Mauritius is a white offshore. Thus, this space has a good reputation, which is ensured by active local anticorruption, an efficient regulatory framework and the use of innovative commercial techniques. Our firm is ready to give you full professional support in getting a PSP license in Mauritius. You may easily get payment service providers license in Mauritius with our expert advice. We also have an extensive list of ready-made licenses for sale in other commercial sectors. Our firm implements professional sale payment service providers license in Mauritius with complete support of our lawyers. Contact us right now – we are always at your services.

Businesses for sale

Payment service provider (PSP license) in Dominica for sale

North America, Dominica Payment & E-Money Institutions
New investment opportunity – payment service provider in Dominica for sale. This is a Fintech Intermediary with authorizations to carry out Fintech Specific intermediation globally with no limitations. PSP license in Dominica for sale: what`s included The license was issued more than two years; Has a clean Balance Sheet and is in perfect shape; No...

Seychelles Payment service provider for sale

Africa, Seychelles Payment & E-Money Institutions
Payment service license in Seychelles for sale is an excellent option, if you want to enter the lucrative offshore financial market. Check out the details of the PSP license in the Seychelles. PSP license in Seychelles for sale: what’s included Type of the authorization: payment service provider (PSP); the license is issued by the Central...

PSP license in Turkey with a US branch for sale

Europe, Turkey Payment & E-Money Institutions
This is a new investment opportunity – PSP license in Turkey for sale. Please check out the main details regarding this proposal below. PSP license for sale: key considerations Founded in 2016, licensed by BRSA in 2018; In 2019 opened a branch in USA; Focused on domestic and international remittances; Trade finance, collection services, account...

You could be interested

Gaming licenses in Africa

Today, leading gamble operators consider Africa as a jurisdiction for expansion of their activities. With a booming economy and growing loyalty to betting, gambling licenses in Africa give many promising opportunities for investors. Below, we will consider key trends in gaming sphere and tax measures in the country. General description of I-Gaming market in Africa...

Crypto Regulation in Panama

In the world of virtual assets, the legislative sphere can often be complicated and ever-changing. For crypto financiers looking to expand their functions, apprehending local legislations is paramount. This region, with its strong monetary sector and business-friendly environment, has become a promising place for tokenized ventures, suggesting a strategic hub for commercials searching for a...

Removal from Interpol Database in Belgium

Joining in the Interpol registry has dire consequences. Such notices can impede a person’s freedom, reputation, and livelihood as from multinational travel restrictions to arrests at borders. For people in Belgium-whether a citizen, resident, or just simply a transit visitor-knowing how to challenge and clear your data from Interpol is critical at such times. From...

Digital Payments Regulations in Southeast Asia

Within the swiftly evolving domain of electronic fees, Southeast Asia is currently experiencing a profound metamorphosis inside the way in which financial guidelines are molding the terrain for EMI in East Asia vicinity. The rapid migration of small and medium-sized organizations (SMEs) from the conventional brick-and-mortar commercial enterprise version to the digital sphere has no...

Online gambling license in Jersey

If you want to move your virtual casino and do not know which jurisdiction to apply for a license permit, then follow our recommendations. In our opinion, the Jersey gambling license is one of the most convenient and best in the world. Next, we will tell you about everything that can be useful to you...

PSP license in Dubai

Technological advances have forced many companies to look for faster ways to transfer money. That is why various companies began to appear. Which helps process payments in an accelerated format. This is a lucrative field of activity and there are a lot of people willing to make money in it. Around the world, including Dubai...

Discover our services

The international company Eternity Law International provides professional services in the field of international consulting, auditing services, legal and tax services.

Ready-made companies for sale

Companies with a bank account around the world

Banks for sale

Established Banks for sale

Ready-made licenses for sale

Forex, cryptocurrencies, gambling, EMI, PSP, SVF, MSO, DLT

Licensing

Forex licenses, cryptocurrencies, gambling, EMI, PSP, SVF, MSO, DLT

Offshore company registration

Expert advice on the acquisition of an offshore company

Open a bank account

Open bank accounts in more than 120 banks around the world
Fill the blank:

Zurich

Dreikonigstrasse, 31A, Stockerhof
+41 435 50 73 23

Kyiv

Baseina street, 7
+38 094 712 03 54

London

Grosvenor Gardens, 52
+44 203 868 34 37

Washington

+1 (888) 647 05 40 Toll Free

Vilnius

Gediminas Avenue, 44A
+370 52 11 14 32

Tallinn

Kesklinna linnaosa, Tuukri 19
+372 880 41 85

Edinburgh

Lochrin Square, 1
+44 203 868 34 37

Nicosia

Jacovides Tower, 5 floor
+371 665 550 51

Riga

Esplanade, 7 floor
+371 665 550 51

Hong Kong

18 Harbour Road, 35/F, Central Plaza, Wanchai
+852800938622 Toll Free

Singapore

Level 42, Suntec Tower Three, 8 Temasek Boulevard
+6531594300

Sydney

20 Martin Place
+61 2 888 00 365

Porto

2609 Avenida da Boavista
+351 800 500 206 Toll Free
Calls are made only from Portugal

Tbilisi

Revaz Tabukashvili Str., N 45, area N 7
+995706070360