As per the Financial Services Act (the ‘FSA’), a moneylender is a person, other than a bank or a non-bank deposit taking institution, whose business is that of lending money in Mauritius or who provides, advertises or holds himself out in any way as providing that business, whether or not he possesses or owns property or money derived from sources other than the lending of money, and whether or not he carries on the business as a principal or as an agent.
A Global Business Company (‘GBC’) should apply for a Moneylending Licence where it is engaged or intends to engage in the business of moneylending in Mauritius. A GBC would not be required to seek a Moneylending Licence where it is solely engaged in the business of moneylending outside Mauritius. A GBC lending money to another GBC shall be held to be conducting business outside Mauritius with respect to that transaction.
As per the Financial Services (Consolidated Licensing and Fees) Rules 2008 (as amended), the processing fee for Moneylending Licence is MUR 43,000 (USD 1,000- applicable for GBC) and the fixed annual fee for Moneylending Licence is MUR 82,000 (USD 1,900- applicable for GBC).
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