- August 10, 2020
- Posted by: Editor
- Category: Law
Foreign investors coming to Mauritius have various operations to choose from if they want to open companies. Among these, financial technology represents one of the economic sectors that are in full development at the moment. Fintech is currently one of the most appreciated industries in the world, including in Mauritius.
Mauritius is working on becoming a fintech hub in the African region and its main strengths are the financial legislation that is well-regulated and the stable economy which recommends it for starting a business.
If you are interested in company formation in Mauritius and decide on a fintech-related activity, our local consultants can help you with various services.
The main fintech services provided by our agents in Mauritius
Fintech implies offering various financial services with the use of new technology. With a vast experience in the corporate field, our specialists can offer the following fintech services in Mauritius:
- legal advice on the financial and information technology legislation in Mauritius;
- assistance in setting up a business which operates in fintech in Mauritius;
- guidance in obtaining the necessary licenses for completing fintech activities in the insular state;
- assistance in obtaining financing for the operation of fintech companies in Mauritius.
If you are interested in business registration in Mauritius, you can rely on our local consultants who can also advise on how to choose the best structure for your fintech company.
The most developed fintech operations in Mauritius
Financial technology can be used in almost every industry in a country and Mauritius makes no exception.
In 2019, the Mauritius Africa FinTech Hub was created with the support of the Mauritius government with the purpose of offering access to single entrepreneurs, companies, universities, financial service providers and even foreign investors who want to contribute to the development of this sector in the African region.
There are various industries that can rely on fintech in Mauritius and among these, we can mention agriculture, tourism, fishing and even manufacturing, without naming the obvious financial and telecommunications sectors. In other words, fintech can be used as a base for the development of many innovative companies in Mauritius.
It is also possible to set up an offshore company in Mauritius with a focus on fintech.
Assistance in setting up a business in fintech in Mauritius
We offer several fintech services in Mauritius, and among these, company formation is the most sought by foreign investors. Our officers can help with the incorporation of any business form that can be used for undertaking fintech activities.
We can also help with obtaining the necessary licenses for such activities. In most cases, a fintech company will need a license from the Financial Services Commission in Mauritius. Depending on the operations it will undertake, it can also require a license from Information and Communication Technologies Authority.
We can assist with the preparation of the documents required for obtaining the necessary licenses and permits for conducting fintech activities in Mauritius.
The Mauritius Africa FinTech Hub
The main supporter of fintech in Mauritius is the Mauritius Africa FinTech Hub which is an ecosystem meant to gather interested parties in developing the operations of financial service providers on the entire African continent.
Among the types of businesses supported by the FinTech Hub are crowdfunding companies, innovative startups, financial services providers and many others interested in entering the African market.
If you are interested in Mauritius company formation in any of the industries mentioned above, you can rely on our business incorporation solutions.
Fintech numbers in Mauritius
There are various factors that recommend Mauritius as the next fintech destination for local and foreign investors from all over the world. In the following years, fintech is expected to become one of the most important economic sectors in Mauritius.
According to the Mauritius Africa FinTech Hub, at the moment:
- 90% of agricultural workers live in low-income communities in Africa;
- 80% of the African population does not have bank accounts;
- 52% of the mobile transactions are completed from Africa;
- nearly 58% of mobile bank accounts are registered in Sub-Saharan Africa;
- only 0.4% of fintech investments reach Africa.
Fintech has a great chance of developing in Africa and Mauritius in the next few years, as the African population is expected to surpass that of China by 2025 and consumer spending is expected to reach 1.3 trillion USD by 2030 in 18 of the largest cities in Africa.
If you are interested in fintech in Mauritius and starting a business in this sector, please contact our specialists in company formation in Mauritius.