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Mauritius Company Registration and Licensing Investment Dealer Broker License

Enigmatig provides a turnkey solution for financial licensing. To facilitate your process of applying for a Mauritius Investment Dealer Broker license, we will:

  • Promote your application to the Mauritius regulators
  • Assist with answering questions regarding the application process and requirements
  • Draft and review application documents and questionnaires
  • Follow up with the application and ensure the submission of additional information required by the related departments in Mauritius

Permissions

Full-Service Dealer

  • Act as an intermediary in the execution of securities transactions for clients;
  • Trade in securities as a 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;
  • Give investment advice which is ancillary to the normal course of his business activities; and
  • Manage portfolios of clients

Broker

  • Execute orders for clients;
  • Manage portfolios of clients; and
  • Give advice on securities transactions to clients
  • Give advice on securities transactions through printed materials or any other means

Discount Broker

  • Execute orders for clients without giving advice

Capital Requirement

Full-Service Dealer – USD 25,000 (Without underwriting)/ USD 250,000 (Underwriting)

Broker – USD 17,000

Discount Broker – USD 15,000

Physical Presence

A physical office with at least one headcount and a minimum spending of USD 30,000 per annum is required.

Business Plan

Enigmatig shall seek to understand your business activities and goals to assist with your business plan drafting that best encompasses this whilst still being compliant to the prevailing regulations. Enigmatig shall also advise on the possible questions that might be posed by the regulator.

Due Diligence

Due Diligence is necessary to formally verify the identity of all clients of the firm. The following documents are required to conduct due diligence for the license application:

  • A copy of the photo page of the passport ceritifed by a notary public for each director and shareholder;
  • A copy of proof of address (issued within the last 3 months) by a notary public for each director and shareholder;
  • Curriculum Vitae (CV);
  • Business Plan;
  • Financial Forecast;
  • Organisation Chart;
  • For company directorship or shareholdership, a certified copy of the constitution documents of the company and above details on each director and shareholder of the company;
  • Other supporting document when necessary.

 

Please note for a company listed on a major stock exchange or subject to regulatory supervision in a country with equivalent AML regulations to Mauritius, evidence of such listing or regulation will suffice in place of the above information. Where the directors to be appointed are employees of such a listed or regulated company, a certified passport copy and confirmation of employment (to include position) will suffice.
Documents
  1. Company Application Form to be filled and signed
  2. Organisational/structure chart showing board of directors, shareholders, list of senior persons who will would be responsible for the day to day operations;
  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. Draft agreements to be entered into with a Securities/ Commodities Exchange and agreements with Clients;
  5. Draft brokerage agreement to be entered into with clients
  6. An Internal Procedures Manual;
  7. An Anti-Money Laundering & Compliance Procedures Manual;
  8. Details of proposed membership with an Exchange, clearing and settlement facility, etc;
  9. Details of procedures and systems to prevent conflicts of interest, terrorism and money laundering;
  10. Confirmation Letter that the Investment Dealer will maintain the minimum capital required under Securities Act 2005 and will not start operation until this is paid in a bank account.
  11. An indication as from where the company intends to operate;
  12. Indication of the profile and location of the target clients of the company;
  13. Details of the modus operandi of the company (mode of operation);
  14. Confirmation whether the company will have a trading platform and details thereof;
  15. Due diligence documents on directors, shareholders, all officers, beneficial owners.
Regulator

The Financial Services Commission, Mauritius (the ‘FSC’) is the integrated regulator for the non-bank financial services sector and global business. Established in 2001, the FSC is mandated under the Financial Services Act 2007 and has as enabling legislations the Securities Act 2005, the Insurance Act 2005 and the Private Pension Schemes Act 2012 to license, regulate, monitor and supervise the conduct of business activities in these sectors.

Our vision is “to be an internationally recognised Financial Supervisor committed to the sustained development of Mauritius as a sound and competitive Financial Services Centre”.

In carrying out its mission, the FSC aims to:

  • Promote the development, fairness, efficiency and transparency of financial institutions and capital markets in Mauritius;
  • Suppress crime and malpractices so as to provide protection to members of the public investing in non-banking financial products; and
  • Ensure the soundness and stability of the financial system in Mauritius.

Enigmatig assists with the complete licensing application. Contact us to find out more about the Mauritius company registration and forex license application. Our team of experts will get back to within the next business day.