MUR 3 Million Guarantee Sets a High Bar for Mauritius Stable License Applicants
Mauritius has established a stringent application process for those wishing to hold a stable license in 2027. Following the approval of the license, each stable license applicant has to submit a bank guarantee of MUR 3 million (approximately $64,000), according to the revised guidelines shared by the Gambling Regulatory Authority (GRA) on 28 August 2026. Applicants must also maintain a minimum of 15 horses and present a business plan that includes three years of financial projections.
The financial review will assess whether a proposed stable has enough capital to meet its obligations throughout the season. Existing companies must provide financial statements or audited accounts for the previous two years. The company, its owner or its investors must also submit six months of bank statements that show the transactions and funds intended for the stable.
Those records will form part of a wider review that includes a feasibility report, bank references, a declaration of assets and liabilities, and details of professional indemnity insurance. The business plan must also explain how the stable will cover horse care, employee costs, insurance and its commitments to owners while remaining financially viable.
The GRA will also examine the ownership and financial structure behind each application. Directors, shareholders, investors and beneficial owners shall declare their identities and shall give bank references and certificates of character valid for 6 months. Corporate applicants must produce their registration, incorporation and VAT records while foreign nationals must have valid occupation permits. The disclosures will enable the Authority to ascertain the ownership of the stable and to check the origin of its capital.
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The GRA also requires applicants to understand the Rules of Racing, demonstrate financial and business competence, communicate effectively with the media, maintain professional relationships with owners, and ensure that every director and manager of an approved stable license applies for a Personal Management Licence.
Licensed stables will remain subject to the Gambling Regulatory Authority Act 2007, the Rules of Racing, responsible gambling and anti-money laundering obligations, licence conditions and any directions issued by the regulator.
“The Applicant is required to comply fully with all provisions of, guidelines and directions issued under, the Gambling Regulatory Authority Act 2007, including the applicable Rules of Racing and any other applicable laws and regulations. This obligation extends to adherence to licence conditions, responsible gambling and anti-money laundering obligations and any directions issued by the Gambling Regulatory Authority (the “Authority”), the guidelines read.
