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Special Licence Companies
Mauritius has a very wide selection of licence types that are available to specialist financial services providers that are looking to set up and do business in and from Mauritius.
Some of the most common financial services business and global business applications that have been handled by Imara Trust in recent times other than Fund set-up include:
Investment Dealer
Investment Dealer
The Securities Act 2005 and rules & regulations made under it allow for Investment Dealer Companies to be set up and licensed in Mauritius. These are particularly beneficial for Brokerage Houses operating worldwide and there is growing demand for the Investment Dealer License in Mauritius.
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Categotries of Investment Dealer Licences →
There are 3 categories of Investment Dealer licences that may be issued under The Mauritius Securities Act 2005 and the Securities Licensing Rules 2007:
Investment Dealer (Full Service)(a) Including Underwriting is authorised to:
- act as an intermediary in the execution of securities transactions for clients;
- trade in securities as principal with the intention of reselling to the public
- underwrite or distribute securities on behalf of an issuer or a holder of securities give investment advice; and
- manage portfolios of clients.
b) excluding underwriting does not allow the licensee to underwrite or distribute securities on behalf of an issuer or a holder.
The licensee is also requested to have a Professional Indemnity cover that varies with the volume of activities and risk of its business.
Investment Dealer (Broker)
Is authorised to execute orders for clients, to manage portfolios of clients and to give advice on securities transactions to clients (mainly derivatives).
It should also comply with the minimum competency standard requirements for its representatives and officers.
Investment Dealer (Discount Broker)
Is authorised to execute orders for clients without giving advice.
Investment Adviser
Investment Adviser
The Mauritius Investment Adviser Licence is one of the three classes of ‘Securities or Capital Market Intermediary’ provided for by the Securities Act 2005 and regulated by the Financial Services Commission (FSC) Mauritius under the Securities (Licensing) Rules 2007.
According to Section 30 of the Securities Act 2005, no unlicensed person is permitted to:
- Advise, guide or recommend other persons, or hold himself out to advise, guide or recommend other persons, whether personally or through printed materials or by other means, to enter into securities transactions; or
- Manage or hold himself out to manage, under a mandate, whether discretionary or not, a portfolio of securities, without an investment adviser licence issued by the FSC or without being licensed as a representative of an investment adviser by the FSC.
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Categotries of Investment Adviser Licences →
Investment Adviser (Unrestricted) Licence
Authorised to manage, under a mandate, portfolios of securities and give advice on securities transactions other than corporate finance advisory, through printed materials or any other means.
Investment Adviser (Restricted) Licence
Authorised to give advice on securities transactions other than corporate finance advisory, through printed materials or any other means.
Investment Adviser (Corporate Finance Advisory)1 Licence
Authorised to provide corporate finance advisory services(1) with respect to securities transactions through printed materials or any other means.
(1) As per Securities Act 2018, “corporate finance advisory” means provision of advisory services on (a) compliance with listing requirements of any securities exchange; (b) raising of funds through the issue of securities; (c) arrangement or restructuring including takeovers, mergers and acquisitions, of a corporation, as far as it relates to securities transactions; or (d) any other matter specified in the FSC Rules.
Payment Intermediary Services
Payment Intermediary Services
In recent years, payment service providers based in traditional financial hubs such as the United States and European Union have faced near untenable amounts of regulatory scrutiny. In reaction to this, payment service providers have become increasingly limited in the industries they serve, foregoing not only traditional high-risk markets but also more traditional, conservative businesses. An offshore payment service provider license provides a respected platform for operating a payments-related business free from the encumbrances faced by operators in larger jurisdictions.
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PERMITTED ACTIVITIES →
- offer wallets/accounts to individuals and corporate clients;
- offer Merchant services like trustee payment processing, credit card processing to companies, online shop owners or any kind of Merchant that is operating according to its local and the Mauritius laws;
- enable customers funding of their wallets, process incoming and outgoing payments directly via correspondence banks or through other Payment Services Providers e.g. in Europe to use the SEPA infrastructure of third parties;
- charge fees for accounts, openings, incoming and outgoing transfers, credit card processing, other payment methods;
- issue account certificates to your account holders;
- offer online banking and transfer options for individuals and corporate clients;
- issue debit cards by co-branding or white label.