- Official Application docs (forms will be provided pre-filled and ready for signature). Requirements can change anytime.To make sure that you fulfill all current requirements we are going to check back with the Financial Services Commission on the day of application and communicate with you, so we can save time and additional paperwork and efforts by checking on a case by case basis what the current KYC requirements on the day of application are. This service is included in our pricing.
- The capital requirement for this license in Mauritius is only US$15.000.
- Depending on the customers' documents delivery, usually, we don't need more than 8-10 weeks after order's start to receive the licenses for our customers - depending on the customer, the regulator and eventual public and bank holidays.
KYC DOCUMENTS FOR A MAURITIUS PAYMENT SERVICES PROVIDER COMPANY
- We provide duly dated and signed Application Forms
- Prescribed Processing and/or Annual Fee(s) i.e. your future fee structure and general basic info about the core business and core
business activities you are going to undertake as Asset Manager (should be in accordance with the Permitted Activities)
- Details of any other license(s) or registration(s) which the Applicant holds - if applicable
- We assist, based on the information you provide, in the procurement of the Business Plan including (i) – Introduction and Background; (ii) – Business objective, strategy, and proposed activity; (iii) – Organisation Chart; (iv) – Target market(s) and client(s) profile; (v) – Mode(s) of financing; (vi) – Three years Financial Forecasts (Balance Sheet, Profit and Loss Account, and Cash Flow Statement); and (vii) – Any other relevant information.
- CV of all senior officers, and Personal Questionnaire Form(s) for Directors, Managing Director/CEO, Compliance Officer, MLRO and Deputy MLRO (as applicable)
- We provide confirmation that the Applicant shall implement a manual of internal controls and compliance procedures, once it is licensed
- We provide certified true copy of the Certificate of Registration/Incorporation, Constitution/M&A (if any), Trust Deed, and/or other statutory documents submitted/required for the registration/incorporation of the Applicant
- We assist in the procurement of professional indemnity insurance cover (costs for Indemnity coverage will apply extra depending on the covered limit)
- Copy of material contract(s)/agreement(s) to be entered between the Applicant and other party/functionary - like with banks, other
asset managers, liquidity providers, brokers for shares dealing etc.
- We assist in the measures to be put in place with regards to infrastructure, security, and safety of securities/assets
- We assist in the arrangements to ensure confidentiality, security, and reliability of client(s) information
- Copy of any promotional material(s) to be used in connection with the proposed business of the Applicant
- We assist in order the Applicant to confirm that it will keep an effective complaints' handling process in the course of conduct of its business
- The applicant should submit evidence of the source of Capital/Funds to the contributed to (account statement)
- If required the directors, shareholders, and officers of the Applicant may need to submit a morality certificate
APPLICABLE COSTS, FEES & CHARGES
i. Set-up Fees
- All administration fees including company formation, licensing, documentation and liaison with the authorities etc
- Support regulatory fees with FSC & ROC
- One-off FATCA registration fees
ii. Annual Fees (for the 1st year and onwards)
- Administration fees & local Director (maximum two)
- Registered Office & Resident/Registered Agent
- Accounting & Annual Financial Statements, Taxation etc
- Ongoing Compliance to satisfy regulator & Due Diligence check of customers
- Ongoing FATCA Reporting
- Regulatory fee (FSC, ROC)
iii. Securities deposit, capital requirement, paid-in capital (one-time payment) full-service Payment Service Provider (PSP) - US$15,000
BANK ACCOUNT PACKAGE
- Corporate Payment Provider Account in Europe
We implement a corporate account in the European Union for you. Your customers can pay their contributions directly to this account without additional charges. The account is based in a SEPA country (Czech Republic). The fees are low. There is no account maintenance fee, the transfers cost between €8.00 within the EU and approximately €30.00 per transfer to worldwide accounts. This account will be in order to receive commissions or invoice related payments - also from customers. In addition to the wire function also Sofortbanking and Bitcoin interfaces are included."
- Full Bank Account in Mauritius in your company's name as Asset Manager (Third Party funding is also allowed)
We implement a corporate bank account in Mauritius with one of the biggest Commercial banks there (Barclays, Afrasia etc). The account fees are US$50.00 per month. The account comes with online banking and debit card. The account holder is your Mauritius company. Easy fundable via SWIFT. In addition, a debit card (VISA or MasterCard) can be applied.
Optional Service: Online Banking Software
The high-end solution. We can give you an introduction to Europes biggest software developer for private banks and Financial Services Provider. Enable your customers an online banking access. You are via API connected to your correspondence accounts. Let them do the transfer and charge each time the transfer fee you desire. The introduction to the software provider is 1,000 EUR one-time fee. Setup ca. 1,900 + VAT, lease-buy ca. 590 - 750 Euro per month incl. hosting, safety and security support or ca. 15,000 one time fee.
Optional Service: Debit Card Program VISA or MasterCard
We can enable a direct introduction to one of Europe's biggest Mastercard / VISA Card Principal Member.
You will be able to issue your debit cards and send it to the customers. Notice: Due to the latest restrictions of VISA / Mastercard card issuing is currently only possible to potential card holders within the European Union. To become a co-branding or branding partner an EU entity is required. We can help you setup this for a minimum of Euro in the UK as a Limited on Guarantee. The guarantor to be entered will be your Mauritius entity. The setup prices for those brandings start with 12,500 Euro for extended API issuing and without minimum card orders. Setup is ready usually between 6-8 weeks. Co-branding with own logo takes in average between 3-5 months due to required approvals of Mastercard or VISA. The cards have daily spending limits up to 15,000 EUR / USD & GBP. Each customer can purchase up to 3 cards, each in a different currency to increase once more his limits. Easy and reliable Due Diligence and immediate card issuing.
