INVESTMENT DEALER'S LICENCE

The Securities Act 2005 and rules & regulations made under it allow for Investment Dealer Companies to be set up and get licenced in Mauritius. This licence is beneficial to brokerage houses around the world. Being licenced in Mauritius offers the advantage of a modern and flexible securities law, issues licences within a reasonable time and requires reasonable minimum capital requirement. The Act allows for several categories of the investment dealer licence and clearly sets out the activities authorised to be carried out under each category as follows:
 
Securities as defined per the Securities Act 2005 including shares or stocks in the share capital of a company, rights warrants, options or interest in respect of same securities, treasury bills, loan stock, bonds and other instruments, options, futures, forward and other derivatives whether on securities or commodities. 
 
There are 4 types of Investment Dealer Licences in Mauritius.


1. Investment Dealer (Full-Service Dealer including Underwriting)
The following activities can be performed with this licence:
  • Act as an intermediary to buy and sell securities
  • Trade in securities and resell the securities to the public
  • Give investment advice related to his business activities
  • Manage clients' portfolios
  • Underwriting
2. Investment Dealer (Full-Service Dealer excluding Underwriting)
The following activities can be performed with this licence:
  • Act as an intermediary to buy and sell securities
  • Trade in securities and resell the securities to the public
  • Give investment advice in relation to his business activities
  • Manage clients' portfolios
However, underwriting is not permissible.

3. Investment Dealer (Broker)
The following activities can be performed with this licence:
  • Execute orders for clients
  • Manage portfolios of clients
  • Give investment advice on securities transactions to clients.
4. Investment Dealer (Discount Broker)
An Investment Dealer (Discount Broker) is only authorised to execute orders for clients. It cannot give investment advice.

Requirements:
  • Minimum stated unimpaired capital for the relevant category as per the Securities Act.
  • The applicant must establish procedures designed to prevent conflicts of interest and the use of inside information by an effective segregation of its different activities.
  • Staff must meet ‘Fit & Proper’ Requirements
  • Appointment of a Money Laundering Reporting Officer (MLRO) & a Deputy Money Laundering Reporting Officer (DMLRO).
  • Meet substance requirements.
Our services to Investment Dealers:
  • Assist in the drafting of all relevant documentations
  • Liaising with regulator and ensure smooth post submission of license application
  • Provision of registered office address.
  • Provision of office space facilities.
  • Provision of professional directors and qualified secretary resident in Mauritius.
  • Opening of bank accounts.
  • Provision of ongoing services post approval: Renewal of license, preparation of quarterly accounts and filing with the authorities, preparation & filing of tax returns