The Investment Dealer Licence is issued by the Mauritius Financial Services Commission (FSC) under the Securities Act 2005, and allows an entity to engage in regulated activities such as trading securities, acting as a broker, underwriter, or dealer in financial markets. Mauritius, as a reputable and well-regulated financial centre, offers a strategic gateway for firms aiming to access global capital markets, particularly in Africa, Asia, and emerging economies.
Categories of Investment Dealer Licences
There are four main categories under the Investment Dealer Licence, each suited to different business models:
- Allows dealing in securities as principal and agent
- Can underwrite or distribute securities.
- Can manage client accounts and provide advisory services
- Must maintain a minimum stated capital of MUR 10 million
- Similar to the above, but without underwriting rights
- Minimum stated capital: MUR 1 million
- Facilitates trades on behalf of clients without taking a position (i.e., not acting as principal)
- Cannot hold or control client assets
- Minimum stated capital: MUR 700,000
- Executes orders without providing advice or portfolio management
- Typically suited for online platforms or execution-only businesses
- Minimum stated capital: MUR 600,000
Investment Dealer (Full Service, including Underwriting)
Investment Dealer (Full Service, excluding Underwriting)
Investment Dealer (Broker)
Investment Dealer (Discount Broker)
Key Benefits
- Access to international financial markets from a well-respected jurisdiction
- Low setup and operational costs compared to Europe or the Middle East
- Strong regulatory environment with clear compliance frameworks
- Possibility to passport services across African and Asian markets
- Tax-efficient environment with up to 80% partial exemptions, reducing effective tax rates to 3%