What are the licence categories?

Full Service Dealer (with or without underwriting), Broker (execution and portfolio management), and Discount Broker (execution only). Capital requirements range from MUR 600,000 (~USD 15,000) for a Discount Broker to MUR 10,000,000 (~USD 250,000) for a Full Service Dealer.

What are the team requirements?

At least 2 members of the Investment Dealer Team, together with a Compliance Officer, MLRO and Deputy MLRO — all of whom must meet the FSC fit-and-proper and appropriately qualified experience requirements.

What is the tax regime?

Mauritius companies are generally subject to the prevailing 15% corporate income tax rate. A GBL holding an Investment Dealer Licence may benefit from an 80% Partial Exemption Regime on qualifying foreign-source income, subject to applicable statutory and substance requirements. Effective tax rates can be as low as 3% on qualifying income, subject to applicable conditions. No capital gains tax and no withholding tax on dividends paid by the GBL.

From a complete file: approximately 8-12 weeks for FSC assessment and licence grant, running in parallel with company incorporation.

Services / Structures / Investment Dealer

Investment Dealer

FSC-regulated investment dealer licensing under the Securities Act 2005.

A Mauritius Investment Dealer Licence authorises the holder to act as intermediary in securities transactions, trade as principal, underwrite and distribute securities, and manage client portfolios. International stockbroking firms consider Mauritius a jurisdiction of choice due to its strong regulatory framework and conducive ecosystem.

Download factsheet

Investment Dealer PDF

What's included

01
Investment Dealer Licence application
02
GBL incorporation
03
Investment Dealer Team (IDT) structuring
04
Compliance officer appointment
05
MLRO and Deputy MLRO appointment
06
AML / CFT framework and procedures
07
Business plan and financial projections for FSC
08
Professional Indemnity Insurance (PII)
09
Conflict-of-interest procedures
10
Information barriers and controls
11
FSC reporting and ongoing compliance
12
Banking and custody coordination

Designed For

Stockbroking firms

International firms seeking a regulated African or Asian base for brokerage.

Investment banks

Full-service dealers wanting underwriting and distribution capabilities.

Wealth managers

Portfolio management and advisory under a regulated umbrella.

Fintech brokerages

Digital platforms needing a regulated home for securities execution.

How we work

01
Scoping
Licence category: Full Service Dealer, Broker, or Discount Broker, and capital requirements.
02
Entity
GBL incorporation with appropriate capital and governance for the licence type.
03
Team
Investment Dealer Team appointment with fit-and-proper and appropriately qualified experience.
04
Application
FSC submission with policies, fit-and-proper declarations, and compliance framework.
05
Launch
Licence grant, PII in place, banking live, ongoing compliance cycle begins.

Vehicles we use

Global Business Licence

Markets we serve

Related services

Tax & Accounting Services

Common questions

Comparison

Investment Dealer vs Investment Adviser

Aspect	Investment Dealer	Investment Adviser
Scope of activities	Trade as principal, underwrite and distribute securities, execute transactions, manage portfolios	Advise on securities, manage portfolios under mandate, provide corporate finance advisory
Licence sub-categories	Full Service Dealer (incl. / excl. underwriting), Broker, Discount Broker	Unrestricted, Restricted, Corporate Finance Advisory
Maximum capital requirement	MUR 10,000,000 (~USD 250,000)	MUR 1,000,000 (~USD 22,000)
Minimum capital requirement	MUR 600,000 (~USD 15,000)	MUR 500,000 (~USD 11,000)
Key personnel	Investment Dealer Team (min. 2 members), Compliance Officer, MLRO, Deputy MLRO	Compliance Officer, MLRO, Deputy MLRO
Trading as principal	Permitted	Not permitted
Underwriting	Permitted	Not permitted

Scope of activities

Investment Dealer

Trade as principal, underwrite and distribute securities, execute transactions, manage portfolios

Investment Adviser

Advise on securities, manage portfolios under mandate, provide corporate finance advisory

Licence sub-categories

Investment Dealer

Full Service Dealer (incl. / excl. underwriting), Broker, Discount Broker

Investment Adviser

Unrestricted, Restricted, Corporate Finance Advisory

Maximum capital requirement

Investment Dealer

MUR 10,000,000 (~USD 250,000)

Investment Adviser

MUR 1,000,000 (~USD 22,000)

Minimum capital requirement

Investment Dealer

MUR 600,000 (~USD 15,000)

Investment Adviser

MUR 500,000 (~USD 11,000)

Key personnel

Investment Dealer

Investment Dealer Team (min. 2 members), Compliance Officer, MLRO, Deputy MLRO

Investment Adviser

Compliance Officer, MLRO, Deputy MLRO

Trading as principal

Investment Dealer

Permitted

Investment Adviser

Not permitted

Underwriting

Investment Dealer

Permitted

Investment Adviser

Not permitted

Related Insights

Investment Dealer vs Investment Adviser: Understanding the Difference

Get started

Discuss your licensing project

Whether you're applying for a new Investment Dealer licence or reviewing an existing one, we'll guide you through the FSC process from application to approval.

Discuss your licensing project