Enable your clients access to your very own products, such as: Forex Services, Asset Management, Bonds, Deposits, Certificates etc.
Internationally recognized as a well-regulated and transparent jurisdiction, with more than two decades’ track record in cross border investment and finance, unparalleled platform of substance for investing into the growing African continent, amongst other emerging economies.
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The Mauritius Securities Act 2005 coupled with the Securities (licensing) Rules 2007 remain the main legal framework governing the provisions and setting the parameters within which a GBC1 with an Investment Dealer license can operate. These licenses are granted by the Financial Services Commission (FSC) in Mauritius.
Whereas there are three such licenses (Full-Service Dealer including Underwriting; Full-Service Dealer excluding Underwriting) we have focused only upon the third such type of License (Investment Dealer-Broker) which allows executing orders for its clients, to manage a portfolio of clients and to give advice on securities transactions to its clients.
Paid-In Share Capital
The above license must have a minimum of MUR700,000 in the company’s books and account upon incorporation (circa US$20,000 at today’s conversion rate). These funds may be utilized and disbursed after being posted into the company’s account for general corporate purposes (after the license’s approval by the regulator).
Directors and Shareholders
We need at least two (2) shareholders (natural persons or bodies corporate)
We need at least two (2) directors (it is mandatory that at least two local directors must be included in the company’s Board of Directors). On top, maybe appointed as many as you wish from your side (natural persons or bodies corporate)
(*) If bodies corporate (either as Shareholders, Directors or both) we need also Certificates of Incorporation; M&A; corporate registries; good standing certificates (if companies are older than 1 year); applicable due diligence (same as above) for the persons controlling these companies (to the ultimate UBO or UBOs).
Applicable Due Diligence
Passport copies (not older than 3 months) which must be certified by a notary; proof of address (not older than 3 months) which must be certified by a notary; original Bank Reference Letter; CV of the principals behind the company; academic & professional certificates (translated in English or French, certified by a notary); proof of source of funds (through a bank statement showing at least US$50,000 of balance).
Accounting, MLRO, auditing, etc
Accounting may be conducted overseas. However, auditing needs to be conducted locally (once per year) by an appointed CPA in Mauritius.
MLRO (a.k.a. Money Laundering Reporting Officer) needs to be a local Compliance Officer overseeing the licensee’s affairs and its compliance procedure for onboarding clients, conducting operations, etc
Bank Accounts may be provided at Afrasia Bank, Commercial Bank of Mauritius, Bank One Mauritius, etc.
Our advice is for at least two accounts (one clients’ account for inward/outward payments from/to clients and another account for general corporate purposes i.e. salaries, software, royalties, general expenses, etc)
Licensed GBC1 benefits from a deemed tax credit so that it will end up paying a maximum effective tax rate of 3% on its tradable profits; no capital gains tax, no withholding tax on dividends, capital gains interests, and royalties; as soon as a GBC1 is qualified as a tax resident in Mauritius, it will benefit from the tax treaties.
– Professional fees: Preparation and filing of all necessary paperwork to register the the company, name reservation, provision of Constitution, receipt of Certificate of Incorporation, Global Business License, Investment Dealer License, first Board Minutes, Share Certificates, setup fees for the domestic company, provision of Registered Office & Company Secretary in Mauritius, provision of two resident directors, fees payable to the Financial Services Commission (FSC) for GBL1 License, obtention of the Investment Dealer License, Registrar of Companies License Fee, opening of two Bank Accounts in Mauritius (clients’ account & general purposes account) etc.
– Ongoing Administrative Fees:
(a) Fully serviced office in Mauritius to qualify the applicant for the licenses
US$750.00 per month
(b) Appointment of Money Laundering Reporting Officer (MLRO) to qualify the applicant for the licenses
US$750.00 per month
– Annual Renewal from 2nd Year Onwards:
Registered Office, Company Secretary, two resident Directors, GBL1 License’s fees to the FSC, IDL License’s fees to the FSC, fees to the Registrar of Companies, preparation of financial statements, and filing of Tax Returns.
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