Mauritius
Foreign Investment Dealers License

Registration and Licensing in Mauritius
Mauritius Investment Dealer Broker

Become an own brokerage institute and
Offer managed accounts, self-trading accounts for customers Enable trading activities in CFDS, Forex, Commodities Shares, Bonds etc.

Get full Swift Funding Bank Accounts and get access to Reputable liquidity providers

Mauritius, a tax friendly environment

General Overview

The reputation of Mauritius as an International Financial Centre rests on the quality of its services and its pool of highly qualified professionals. Moreover, Mauritius has been withdrawn by from the List of High-Risk Third Countries on the 7 January 2022.

The Financial Services Act (FSA) adopted in 2007, simplifies the regulatory regime and consolidates the legislative framework of the global business sector.

The Investment Dealer licenses as issued by the Financial Services Commission in Mauritius are getting increasing popularity among many of the Brokerage Houses worldwide.

Application for Investment Dealer license must be made under a Global Business Company and license is granted subject to the approval of the Financial Services Commission.

The Securities Act 2005 coupled with the Securities (licensing) Rules 2007 remain the main legal framework governing the provisions and setting the parameters within which a GBC with an Investment Dealer license can operate.

There are different categories of Investment Dealer license and Securities (licensing) Rules 2007 clearly set out the activities authorized to be carried out under each category.

Mauritius
A Leading Financial Centre

– Flexible company law, securities and trust legislations;
– Business friendly and healthy regulation by Mauritius Financial Services Commission;
– Good corporate governance code based on international norms;
– Low and reasonable tax rates for corporate and individuals being 15%;
– Occupation and residence permits are granted to expatriates within 3 days, and business licenses and permits normally within 15 days;
– Mauritius has a Stock Exchange known as Stock Exchange of Mauritius. There are more 30 domestic listed companies and more than 50 other companies trading on the Development and Enterprise market with modern norms of trading. The Exchange is open to Global Business Companies and Funds seeking a primary or secondary listing;
– Mauritius is a member of the International Court of Justice and the International Centre for Settlements of Investment Disputes;
– Mauritius has concluded a number of Investment Promotion and Protection Agreements (IPPAs).

The Mauritius GBC is set up under the Companies Act 2001 and licensed under the Financial Services Act 2007 – so a 3% tax will apply to your business what is very low compared to FX entities to be registered in Europe or South-East Asia; a Mauritius GBC is considered as a Mauritius tax resident company (and therefore have access to the double tax treaties of Mauritius) if its management and control is exercised from Mauritius (what we will arrange in our setup package).

Mauritius Being Licensed
Licensed Activities
The Financial Services Rules 2008

The Financial Services Rules 2008 (the Rules) set out the licensing framework that provides for a comprehensive codified list of financial services and financial business activities licensable by the FSC.

The licensing framework provides clear sets of licensing criteria and requirements within a well-defined and consolidated framework. Prospective applicants, including service providers, may consult legal provisions, licensing requirements and fees applicable to the particular business they intend to conduct.

The FSC considered the level of development of the different sectors under its purview as well as the need to sustain the overall competitiveness of Mauritius as an International Financial Centre, in determining the fee structure.

The Rules also provide for a specific code for each of the licensable financial services and financial business activities.

Investment Dealer
Broker License Requirements

Legal Changes from January 2015

– Corporate vehicle permitted: Category 1 Global Business Company.
– Local physical office: Yes, office premises in Mauritius.
– Capital requirement: Each category of Investment Dealer needs to have a minimum capital.
– Assets: Must hold assets of at least USD100 000 within a year, excluding cash or shares in another GBC.
– Directors & Shareholders: Min. 2 resident directors with board meetings held in Mauritius; min. 1 shareholder, no nationality restrictions .
– Regulating Authority: Mauritius Financial Services Commission (FSC).
– Service Providers Required: Yes
– Time Frame: 2-3 months
– Financial Statements Filing: All categories are required to file audited financial statements within 6 months of financial year end.
– Staff Qualification: Staff employed must have relevant experience and qualification as required under the Securities Act Minimum Capital Required.
– Accounting requirements: Quarterly should be done from Mauritius, local auditor is a must.
– Tax Treatment: The Mauritius GBC is set up under the Companies Act 2001 and licensed under the Financial Services Act 2007 – so a 3% tax will apply to your business what is very low compared to FX entities to be registered in Europe or South-East Asia. A Mauritius GBC is considered as a Mauritius tax resident company (and therefore have access to the double tax treaties of Mauritius) if its management and control is exercised from Mauritius (what we will arrange in our setup package).

Mauritius
Foreign Investment Dealer Broker Licenses

There are basically five categories of Investment Dealers under the Securities Act; however, the most commonly used for its wide range of business activities and smaller capital requirements, is the Investment Dealer Broker License, in general, duly authorized to execute orders for clients, to manage portfolios of clients and to give advice on securities transactions to clients.

Investment Dealer Broker License
Under the Security Act
Financial Services and Securities included

(a) Keeping, investing, and managing money, securities and investment portfolios on behalf of third parties;
(b) shares or stocks in the share capital of a company, whether incorporated in Mauritius or elsewhere, other than a collective investment scheme;
(c) debentures, debenture stock, loan stock, bonds, convertible bonds or other similar instruments;
(d) rights warrants, options, or interests in respect of securities mentioned in paragraphs (a) and (b);
(e) treasury bills, loan stock, bonds and other instruments creating or acknowledging indebtedness and issued by or on behalf of or guaranteed by the Government of the Republic of Mauritius or the government of another country, a local authority or public authority, as may be prescribed;
(f) shares in, securities of, or rights to participate in, a collective investment scheme;
(g) depository receipts or similar instruments;
(h) options, futures, forwards, and other derivatives whether on securities or commodities;
(i) any other transferable securities, interests or assets as may be approved by the Commission; or
(j) any such other instruments as may be prescribed.

Remark:
The Investment Dealer is allowed to take money from the client by asking him to open an account with the Dealer. However, this money should be exclusively used for securities transactions.

Mauritius Investment Dealer
Types of FSC Licenses available
Capital Requirements

Full-Service Dealer with or without Underwriting authorised to:

Act as an intermediary in the execution of securities transactions for clients;

Trade in securities as principal with the intention of reselling these securities to the public. Underwrite or distribute securities on behalf of an issuer or a holder of securities (if this option is chosen);

Give investment advice which is ancillary to the normal course of his business activities; and Manage portfolios of clients.

Minimum Capital requirement:
With Underwriting – Company all times to show minimum capital requirement at least
MUR 10,000,000 equivalent to approx. USD270,000

Without Underwriting – Company all times to show minimum capital requirement at least
MUR 10,000,000 equivalent to approx. USD270,000

Discount Broker authorised to:

Execute orders for clients without giving advice.
Minimum Capital requirement: Company all times to show minimum capital requirement at least
MUR 600,000 equivalent to approx. USD16,000

Investment Dealer Broker authorised to:

Execute orders for clients, to manage portfolios of clients and to give advice on securities transactions to clients.
Minimum Capital requirement: Company all times to show minimum capital requirement at least
MUR 700,000 equivalent to approx. USD19,000

Investment Dealer (Commodity Derivatives Segment) authorised to:

Act as broker in Commodity Derivatives only.
Minimum Capital requirement: Company all times to show minimum capital requirement at least
MUR 1,000,000 equivalent to approx. USD27,000

Investment Dealer (Currency Derivatives Segment) authorised to:

Act as broker in Currency Derivatives only.
Minimum Capital requirement: Company all times to show minimum capital requirement at least
MUR 1,000,000 equivalent to approx. USD27,000

Our Services

To fulfil all requirements, TBA is offering a full compliance package for your regulated entity to make sure that you will always comply with the regulator, and all goes really according to the laws.

We provide the following services with respect to the activities of the Investment Dealers:

Besides all usual services as outlined below:

– Advice and guidance on the procedures required to obtain the relevant license
– Registration of a Global Business Company in Mauritius
– Applying for full-service dealer or investment dealer License in Mauritius
– Executive director and local director recruiting
– Obtaining Mauritius license
– Preparing of all required documents
– Registered office address in Mauritius
– Registered company secretary services
– All original documents shipped to your address of choice

Our package includes all following ongoing services:

– Administration Fees and Local Director (2x)
– Registered Office and Registered Agent
– Accounting and Yearly Financial Statements, Taxation (quarterly and annual)
– On-going Compliance to satisfy regulator / check of customers Due Diligence
– On-going FATCA Reporting of US customers
– Regulatory fee (FSC, ROC)
– And, most importantly, bank account opening

Please feel free to contact us should you need more information.

List of Documents Required
Application as an Investment Dealer

  1. 1. Company Application Form to be filled and signed;
  2. 2. Organisational/structure chart showing board of directors, shareholders, list of senior persons (compliance officer, Money Laundering Reporting Officer and deputy) and other officers who will would be responsible for the day-to-day operations;
  3. 3. Business plan with 3-year projections giving details of proposed activities, types of customers, products and services to be offered (brokerage, CIS securities, underwriting, etc.);
  4. 4. Draft agreements to be entered into with a Securities/ Commodities Exchange and agreements with Clients;
  5. 5. Draft brokerage agreement to be entered into with clients;
  6. 6. An Internal Procedures Manual;
  7. 7. An Anti-Money Laundering & Compliance Procedures Manual;
  8. 8. Details of proposed membership with an Exchange, clearing and settlement facility, etc;
  9. 9. Details of procedures and systems to prevent conflicts of interest, terrorism and money laundering;
  10. 10. Confirmation Letter that the Investment Dealer will maintain the minimum capital required and will not start operation until this is paid in a bank account;
  11. 11. An indication as from where the company intends to operate;
  12. 12. Indication of the profile and location of the target clients of the company;
  13. 13. Details of the modus operandi of the company (mode of operation);
  14. 14. Confirmation whether the company will have a trading platform and details thereof;
  15. 15. Due diligence documents on directors, shareholders, all officers, beneficial owners, etc. as per below:

Passports

Certified to be true copy by an attorney, notary public, solicitor, public accountant, director of a trust company (‘Approved Certifier’).

Bank reference Letter

Original letter of reference from your bank, confirming the length of time the account has been opened (should be minimum 2 years) and that it has been conducted satisfactorily.

Curriculum Vitae (duly signed)

Stating qualifications, work history, qualification, experience/expertise in investment/securities management and present occupation. It should also include details of the source of the funds from the shareholder or beneficial owner only. It is also important to have the CV of the officer who has the experience and qualifications required under the Securities Act 2005 and that is clearly mentioned in the CV.

Personal Questionnaire (to be filled and signed)

Proof of address:
Utility Bill/Credit card statement / Bank statement-less than 3 months old; original or certified copy by Approved Certifier.

Kindly note that the above documents are required for successful application of a Category 1 Global Business Licence and Investment Dealer.

Bank Accounts

A FX company without bank accounts is useless – just a licensed company without payment facilities won’t bring you success.

We can guarantee the opening of full SWIFT bank accounts in the name of your Mauritius FX company with the real big players in the islands. Multi-Currency Accounts, online banking, Digi-pass security and debit cards to pay directly business expenses are standard.

As a professional Corporate Services Provider, we provide you all bank account opening forms pre-filled, ready for signature and shipment back to Mauritius.

Also, the introduction to fully regulated EU Payment Providers we can arrange through our network. Up from day one after license approval you can start accepting customer funds and generate profits.

Should you have any question or matter
You would like to discuss or clarify with us

Or

Should you like to receive further Information
About our services and fees,…

Our multi-lingual team of business advisors is happy to assist you with all upcoming questions and issues in relation to your application.

You may call or email us, and we will be happy to assist you in a fast and efficient manner.

You can also come and visit our offices to discuss issues face to face if you prefer. Just arrange an appointment and we will be happy to meet with you.


Licensing Services
Our Company Services
Services we DO and Services we DO NOT DO

Our company is EXCLUSIVELY engaged in assisting worldwide clients, either individuals or corporate entities, to get duly and properly registered and licensed with local Regulators and Financial Authorities to get respective official licenses to legally carry out their cryptocurrency business activities.

TBA & Associates Tax Business Advisors does not carry out any sort of Cryptocurrency Business Trade