Family Office Licence in Mauritius

13 November 2026 · Fideco Global, Mauritius Business & Structuring

Modern glass corporate office entrance in Mauritius

Overview

A regulated framework for family wealth.

Mauritius provides a regulated framework for establishing Single Family Offices (SFOs) and Multiple Family Offices (MFOs). Under the Financial Services (Family Office) Rules 2026, the Financial Services Commission (FSC) regulates family office activities carried out from Mauritius and sets requirements covering eligibility, assets under management or administration, governance, risk management, confidentiality and ongoing compliance.

For families with international assets, business interests and succession-planning needs, a Mauritius-based family office can provide a coordinated framework for the administration of family wealth and related structures. This guide outlines the two licence categories, the principal regulatory requirements and the steps involved in establishing a family office in Mauritius.

Established in 1993, Fideco Global Business Services Ltd is a Mauritian management company licensed and regulated by the FSC. With more than three decades of experience in the financial services sector, Fideco provides corporate, fiduciary and administrative services to international clients. We assist families and professional advisers with family office structuring, licensing coordination and ongoing administration.

This article is for general information purposes only and does not constitute legal, tax, investment or other professional advice. Licensing is subject to the applicable requirements and approval of the Financial Services Commission.

At a glance

Family office licences compared.

The 2026 Rules provide for two licence categories. The principal distinction is the number of families served. An MFO has additional capital, insurance, conflict-of-interest and asset-segregation obligations.

Requirement	Single Family Office	Multiple Family Office
Families served	One specific family and its qualifying private wealth structures	More than one family and their qualifying private wealth structures
Minimum net value of assets under management or administration	USD 5 million at all times	USD 25 million in aggregate and at least USD 5 million for each family, at all times
Minimum stated unimpaired capital	No specific minimum prescribed by the 2026 Family Office Rules	USD 50,000, fully paid and unimpaired, at all times
Professional indemnity cover	No specific requirement prescribed by Rule 8 for an SFO	Required
Conflict-of-interest policy	No MFO-specific policy requirement under Rule 12	Written policy, reviewed annually and submitted with the annual compliance statement
Segregation of family assets	The specific segregation requirements in Rule 14 apply to MFOs	Required between each family client
FSC-approved agent	Required	Required
Annual statement of compliance	Within six months after financial year-end	Within six months after financial year-end

Definition

What is a family office?

A family office is a structure established to coordinate and manage the financial and related affairs of a family.

Depending on the family's requirements, its activities may include investment oversight, asset and estate management, financial administration, accounting, cash-flow oversight and reporting. It may also coordinate governance, succession planning and the administration of the family's private wealth structures.

The 2026 Rules define family assets broadly. They include operating businesses, private equity, real estate, liquid portfolios, proprietary investment vehicles and other long-term holdings.

A Single Family Office provides the relevant services exclusively for one specific family. A Multiple Family Office provides services to more than one family, subject to the additional requirements applicable to that model.

Private lounge overlooking Mauritius coast for family wealth discussions

Executive boardroom overlooking Mauritius bay and mountains

Jurisdiction

Why consider Mauritius?

Mauritius is an established international financial centre with a regulated non-banking financial services sector overseen by the FSC.

Its professional services ecosystem includes management companies, trustees, legal and tax advisers, accountants and other specialists who can support cross-border structures.

For families whose businesses, investments or beneficiaries are located in different jurisdictions, a Mauritius family office may offer a central point for coordinating administration and professional advice. The jurisdiction may also be considered by wealth managers and advisers seeking a regulated platform from which to serve eligible families.

The suitability of Mauritius depends on each family's circumstances, including the location and nature of its assets, residence and tax position, succession objectives and the activities proposed to be carried out from Mauritius. Tax treatment is fact-specific and should be assessed separately with appropriately qualified advisers in the relevant jurisdictions.

Framework

The regulatory framework for family offices in Mauritius.

Governed by the Financial Services Act 2007 and the Financial Services (Family Office) Rules 2026 (Government Notice No. 62 of 2026). The FSC made the Rules on 21 May 2026. They came into operation on 1 June 2026 and apply to all new applications.

Licence required

A person may not provide or hold itself out as providing the core family office services in Mauritius without a family office licence issued by the FSC.

Application route

An application must be made in accordance with Part IV of the Financial Services Act and the applicable licensing and fees framework.

Qualifying applicant

The applicant must be a qualifying corporation with relevant experience, or the application may be made through a management company instructed by the family or relevant applicant.

FSC-approved agent

Every family office must designate an agent approved by the FSC to act as the regulatory point of contact and carry out the responsibilities set out in the Rules.

Licence type

Family Office (Single).

A Single Family Office serves one specific family and the family's qualifying private wealth structures, including trusts, foundations, companies, partnerships or similar entities wholly owned by or in which the family is a controller.

The net value of assets under management or administration must be at least USD 5 million at all times.

This model may be appropriate where a family wishes to establish a dedicated structure to coordinate its investments, assets, businesses, reporting and longer-term wealth-planning arrangements. The family office may provide the services listed in the Rules exclusively for the benefit of that family.

Family office desk with property, investment and legal symbols

Multiple Family Office boardroom with Mauritius mountain view

Licence type

Family Office (Multiple).

A Multiple Family Office serves more than one family. The families do not need to be related, but the office may only serve families and their qualifying private wealth structures.

The aggregate net value of assets under management or administration must be at least USD 25 million, with at least USD 5 million attributable to each family, at all times.

An MFO may be suitable for a wealth manager, sponsor or professional service provider intending to operate a shared platform for several families. The model can provide a common administrative and governance framework, but it carries additional requirements relating to capital, insurance, conflicts of interest and the segregation of each family's assets, liabilities and affairs.

For both licence categories, net asset value is determined on a fair market value basis or, where fair market value cannot reasonably be determined, on a book value basis.

Eligibility

Who counts as a family?

The First Schedule to the 2026 Rules sets out the relationships that may constitute a family. The definition also extends to entities wholly owned by, or in which, the family is a controller.

Core relationships

A spouse (including a civil, religious or customary marriage or legally recognised union); descendants and their spouses; parents, step-parents, ascendants and their spouses; parents-in-law and step-parents-in-law.

Extended relationships

Brothers, sisters, step-siblings and their spouses and descendants; the spouse's parents, grandparents, brothers and sisters and their spouses and descendants; a parent's brothers and sisters and their spouses and descendants.

Dependent persons

Other financially dependent persons may be included where approved by the FSC.

Related entities

Assess family relationships and related entities against the precise wording of the First Schedule and the facts of the proposed structure.

Decision framework

Choosing between a Single and Multiple Family Office.

The appropriate licence depends on the families to be served, the nature of the proposed activities, the assets to be managed or administered and the intended operating model.

When an SFO may be appropriate. A family with at least USD 5 million in net assets under management or administration may consider an SFO where it wants a dedicated structure serving that family alone — for example to coordinate business interests, investment holdings and succession planning across several jurisdictions.

When an MFO may be appropriate. An MFO may be considered by a wealth manager or sponsor intending to serve several eligible families through a shared platform, or by families that wish to access a common service structure, provided the regulatory thresholds and safeguards are met.

The MFO model requires careful planning. The operator must demonstrate that each family's assets, liabilities and affairs are appropriately segregated and that conflicts of interest are identified, managed and, where necessary, disclosed. Fideco can assist with an initial assessment of proposed activities, family relationships, asset thresholds and operating model before an application is prepared.

Globe, luxury property model and gold assets against Mauritius coastline

Scope

What services may a family office provide?

The 2026 Rules distinguish between core family office services and ancillary family office services. A licence is required for core services in Mauritius; a person conducting only ancillary services may also apply.

Core services

Investment oversight, policy support and portfolio management; asset and investment holding; asset and estate management, including real estate; management of finance, accounting, cash flows and reporting.

Ancillary services

Governance and strategy; risk and resilience; tax and compliance; succession and wealth planning; administrative support; cybersecurity and data protection; design and supervision of private wealth structures; lifestyle and adviser coordination; philanthropy and impact support; payments under a valid written mandate.

Where an activity constitutes another regulated financial service, the relevant separate authorisation may also be required.

Sealed legal portfolio and scales of justice for family office structures

Vehicles

Legal structures used by a family office.

Under the 2026 Rules, the applicant corporation may take one of several forms, subject to the FSC's requirements and acceptance.

These include a company incorporated or registered in Mauritius (including by way of continuation); a société or partnership registered in Mauritius; a trust governed by Mauritian law or by the law of another jurisdiction determined by the FSC; a foundation registered under Mauritian law; or another body of persons acceptable to the FSC.

The family office may serve the family's qualifying trusts, foundations, companies, partnerships and similar structures. The choice of vehicle should be considered alongside the family's governance, ownership, succession and cross-border requirements.

Fideco's corporate services and trusteeship capabilities can support the establishment and ongoing administration of appropriate entities and wealth structures, subject to the relevant legal and regulatory requirements.

Compliance

Key licensing and ongoing requirements.

Every family office must meet core obligations. Multiple Family Offices carry additional capital, insurance, conflict and segregation duties.

Every family office

Asset thresholds at all times; signed source-of-funds and source-of-wealth confirmation to the FSC; an FSC-approved agent; an integrated risk management system reviewed annually; proportionate cybersecurity and data protection; confidential treatment of family information; and an annual statement of compliance within six months after year-end.

Additional for MFOs

Minimum stated unimpaired capital of USD 50,000; professional indemnity insurance; a written conflict-of-interest policy reviewed annually and filed with the annual compliance statement; segregation of each family's assets, liabilities and affairs; and clear documentation of any sharing arrangements between families.

Applicants

Who may apply, and what about existing licences?

An application must be made by or through a corporation with relevant experience in wealth management, private banking, investment management or another relevant field considered appropriate by the FSC.

The Rules also permit an application to be made through a management company instructed by the family or the relevant applicant. Applicants should be prepared to provide information on proposed activities, ownership and control, beneficial owners, relevant experience, family clients and underlying wealth structures, together with supporting source-of-wealth and source-of-funds documentation.

The 2026 Rules apply to all new applications. A person holding a Family Office (Single) or Family Office (Multiple) licence issued before commencement may continue to be governed by the revoked 2020 Rules up to 31 December 2026. Existing licensees must ensure compliance with the 2026 Rules after that date and should review policies, governance, capital, insurance and reporting in good time.

Compliance desk with filings, binders and financial reports

Process

The licensing process: step by step.

Timing depends on the nature and completeness of the application and the regulator's review. Approval is not guaranteed.

1. Initial assessment

Review objectives, relationships, asset profile, jurisdictions and proposed activities to determine whether an SFO or MFO model is appropriate.

2. Structuring

Consider the legal vehicle, ownership and governance arrangements, and incorporate or register the applicant where required.

3. Source of wealth

Identify beneficial owners and compile supporting evidence for verification and the signed confirmation to the FSC.

4. Policies

Prepare the risk management system and cybersecurity measures. For an MFO, address capital, PI insurance, conflicts and segregation.

5. Application

Submit the prescribed form and supporting documents through the appropriate applicant or management company route.

6. FSC review & ongoing

Respond to any FSC queries, then establish governance, recordkeeping, reporting and the annual statement of compliance.

Secure executive desk with encrypted laptop and private vault

Governance

Confidentiality and transparency.

Confidentiality is an express requirement under the 2026 Rules.

A family office, its officers, employees and third-party service providers must treat information and documents relating to the family, its members and the assets under management or administration as confidential, subject to other applicable laws.

Confidentiality does not displace applicable legal and regulatory obligations. A family office must comply with its duties to the FSC and with relevant tax, reporting, anti-money laundering, data protection and other legal requirements. Any applicable international reporting obligations, including CRS or FATCA, should be assessed on the facts.

A well-designed family office should therefore combine appropriate privacy safeguards with clear governance, reliable records, documented controls and transparent regulatory compliance.

Fideco

How Fideco supports families and advisers.

Establishing a family office involves more than submitting a licence application. Structure, relationships, assets, governance and ongoing administration all need to work together.

What we can assist with

Initial assessment; structuring and legal vehicle coordination; company, trust or foundation establishment; FSC licensing application support; FSC-approved agent appointment (and, where approved, provision of the agent service); company secretarial and governance; accounting and reporting coordination; ongoing compliance; and trustee and fiduciary administration within relevant authorisations.

Who we work with

Families and high-net-worth individuals with cross-border assets; wealth managers and promoters considering a regulated multi-family platform; entrepreneurs planning succession; and existing licence holders reviewing arrangements under the 2026 Rules.

Our approach is relationship-led. Clients work with senior members of the Fideco team throughout structuring, application and administration.

FAQ

Frequently asked questions.

Straight answers on the Mauritius family office licence framework under the 2026 Rules.

A Single Family Office serves one specific family and its qualifying private wealth structures. A Multiple Family Office serves more than one family and is subject to additional requirements, including minimum capital, professional indemnity insurance, a conflict-of-interest policy and segregation of family assets.

An SFO must have a net value of assets under management or administration of at least USD 5 million at all times. An MFO must have at least USD 25 million in aggregate and at least USD 5 million attributable to each family, at all times.

The 2026 Family Office Rules prescribe minimum stated unimpaired capital of USD 50,000 for an MFO. They do not prescribe a specific minimum capital amount for an SFO under these Rules. Other applicable requirements should be considered.

An application must be made by or through a corporation with relevant experience in wealth management, private banking, investment management or another relevant field accepted by the FSC. An application may also be made through a management company instructed by the family or relevant applicant.

Every family office must designate an agent approved by the FSC. The agent must be either a management company or an officer forming part of the family office's senior management. The agent acts as the regulatory point of contact and is responsible for filings, records and responding to FSC requests.

The Rules include within the definition of corporation a trust governed by Mauritian law or another jurisdiction determined by the FSC, and a foundation registered in Mauritius. The suitability of a particular vehicle should be assessed against the Rules and the proposed structure.

Yes. Existing SFO and MFO licence holders issued licences before 1 June 2026 may continue under the 2020 Rules up to 31 December 2026. They must comply with the 2026 Rules after that date.

The timing depends on the complexity of the proposed structure, the completeness of the application and the FSC's review. An indicative timetable can be considered once the initial assessment and document requirements are understood.

The Rules require the family office, its officers, employees and third-party service providers to treat information and documents relating to the family and its assets as confidential, subject to other applicable laws.

Yes. Rule 4(3) expressly provides that a person conducting only the ancillary services listed in Part II of the Third Schedule may apply for a family office licence. Whether a licence is required for a particular activity should be assessed against the Rules.

A family office must give the FSC at least one month's written notice before ceasing family office business or commencing winding-up proceedings. It must also notify the FSC of a winding-up petition within 14 days of being served.

Source: Financial Services (Family Office) Rules 2026, Government Notice No. 62 of 2026.

Considering a family office licence in Mauritius?

Speak with Fideco about Single or Multiple Family Office structuring, FSC licensing coordination and ongoing administration under the 2026 Rules.

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