Investment Licence: FSC Mauritius

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Tools for Brokers is a technology provider for retail brokers, hedge funds, and prop trading firms. Additionally, we provide company formation and licencing services to aspiring brokers, creating the best experience and the most streamlined process. To achieve that, we have partnered with SALVUS Funds, an experienced provider of broker licences.

We can assist you with a securities licence in Seychelles and an investment licence in Mauritius. Here, we’re going to tell you more about what getting a Mauritius licence entails, and what steps are required for it.

What is the FSC Mauritius, and what does it do?

The Financial Services Commission (FSC) Mauritius is the integrated regulator for the non-bank financial services sector and global business of the Republic of Mauritius.

FSC Mauritius is responsible for licensing, regulating, and supervising business activities in the securities, insurance, private pension schemes, and virtual assets sectors. The regulator ensures sustainable business development of Mauritius and strives to be an internationally recognised financial supervisor.

Why acquire an Investment Licence in Mauritius?

An Investment Licence in Mauritius provides a number of benefits:

Operating in a time zone that enables business to be conducted on four different continents on the same day.
Extensive network of double taxation avoidance agreements with more than 43 countries.
Broad range of investment promotion and protection agreements.
A sophisticated and well-capitalised banking sector that offers a complete range of services, including corporate banking and custodian services.
Skilled and educated workforce that speaks both the English and French languages.
Hybrid legal system based on English and French law, with the United Kingdom Privy Council acting as the ultimate court of appeal.
Over one hundred accounting and audit firms to establish a business relationship with.

Authorised Activities
Each licence category authorised by the FSC Mauritius prescribes a specific set of permitted activities. The licence categories regarding the provision of investment services are the Investment Dealer and the Investment Adviser.
Licence Category	Authorised Activities
Investment Dealer - Full Service, including Underwriting	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 holder of securities; Give investment advice that is ancillary to the normal course of business activities; Manage portfolios of clients.
Investment Dealer - Full Service, excluding Underwriting	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; Give investment advice that is ancillary to the normal course of business activities; Manage portfolios of clients.
Investment Dealer - Broker	Execution of orders for clients; Manage portfolios of clients; Advise on securities transactions to clients.
Investment Dealer - Discount Broker	Execution of orders for clients without advising on securities transactions.
Investment Adviser - Unrestricted	Manage, under a mandate, portfolios of securities; Advise on securities transactions, other than corporate finance advisory, through printed materials or other means.
Investment Adviser - Restricted	Advise on securities transactions, other than corporate finance advisory, through printed materials or other means.
Investment Adviser - Corporate Finance Advisory	Provide corporate finance advisory services for securities transactions through printed materials or other means, such as: compliance with listing requirements of any security exchange; raising of funds through the issue of securities; arrangement or restructuring of a corporation, including takeovers, mergers, and acquisitions.

Regulatory Capital Requirements

Minimum regulatory requirements vary between the different licence categories and subcategories.

Licence Category	Capital Requirements
Investment Dealer - Full Service, including Underwriting	MUR 10 million (approx. 220,000 USD)
Investment Dealer - Full Service, excluding Underwriting	MUR 1 million (approx. 22,000 USD)
Investment Dealer - Broker	MUR 700,000 (approx. 15,000 USD)
Investment Dealer - Discount Broker	MUR 600,000 (approx. 13,000 USD)
Investment Adviser - Unrestricted	MUR 600,000 (approx. 13,000 USD)
Investment Adviser - Restricted	MUR 500,000 (approx. 11,000 USD)
Investment Adviser - Corporate Finance Advisory	MUR 1 million (approx. 22,000 USD)

Application Fees

FSC Mauritius application fees depend on the category of licence you choose, specifically the licence subcategory. Other one-off fees also apply to the incorporation of the company and additional regulatory requirements.

Annual Fees

Licence renewal fees are fixed and depend on the type of licence subcategory held. Additional fees apply depending on the regulatory obligations of the company and the ancillary services included in the licence.

Licencing Timeframe

In our experience, the FSC Mauritius licensing procedure can be concluded in 3 months, but it can also take longer (4 to 6 months) if the data provided was insufficient or the business plan draws additional questions. That’s why we ask clients to budget more time for the licensing process to ensure they’re not thrown off by additional requests or delays of the regulator.

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