Structures / ID
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. Five categories: Full Service Dealer (including underwriting), Full Service Dealer (excluding underwriting), Broker, Discount Broker, and Investment Dealer (Derivatives).
At a glance
- Statute
- Securities Act 2005
- Categories
- Full Service (Incl. UW), Full Service (Excl. UW), Broker, Discount Broker, Derivatives
- Capital
- MUR 600K–10M depending on category
- Team
- Investment Dealer Team + CO + MLRO
- Tax
- 15% headline rate; effective rates can be as low as 3% on qualifying income, subject to applicable conditions
- Setup
- 8–12 weeks. All timelines are indicative and subject to completeness, FSC review, regulatory queries and approval.
Licence category comparison
Full Service Dealer — Including Underwriting
Permitted Activities
Deal in securities as agent or principal, advise on securities, portfolio management, underwrite and distribute securities
Minimum Capital
MUR 10,000,000
Other Requirements
Full IDT team, PII, comprehensive compliance framework
Full Service Dealer — Excluding Underwriting
Permitted Activities
Deal in securities as agent or principal, advise on securities, portfolio management
Minimum Capital
MUR 5,000,000
Other Requirements
Full IDT team, PII, compliance framework
Investment Dealer — Broker
Permitted Activities
Deal in securities as agent, advise on securities, portfolio management
Minimum Capital
MUR 2,000,000
Other Requirements
IDT team, PII, compliance framework
Investment Dealer — Discount Broker
Permitted Activities
Deal in securities as agent (execution only)
Minimum Capital
MUR 600,000
Other Requirements
Compliance framework, PII
Investment Dealer — Derivatives
Permitted Activities
Deal in derivatives contracts for clients and act as market maker
Minimum Capital
MUR 1,000,000
Other Requirements
IDT team, PII, compliance framework
Capital requirements and permitted activities are subject to FSC approval. Contact us for current regulatory details.
Investment Dealer vs Investment Adviser
Both licences are issued under the Securities Act 2005 and benefit from the 80% Partial Exemption Regime. The key distinction is dealing as principal and underwriting.
Deal in securities as principal
Investment Dealer
Yes
Investment Adviser
No
Underwrite securities
Investment Dealer
Yes (Full Service only)
Investment Adviser
No
Advise on securities
Investment Dealer
Yes
Investment Adviser
Yes
Portfolio management
Investment Dealer
Yes
Investment Adviser
Yes (Unrestricted)
Corporate finance advisory
Investment Dealer
No
Investment Adviser
Yes (Corporate Finance category)
Minimum capital
Investment Dealer
MUR 600K–10M
Investment Adviser
MUR 500,000 (Restricted), 600,000 (Unrestricted), 1,000,000 (Corporate Finance)
Professional Indemnity Insurance
Investment Dealer
Mandatory
Investment Adviser
Mandatory
Tax regime
Investment Dealer
15% headline rate; effective rates can be as low as 3% on qualifying income, subject to applicable conditions
Investment Adviser
15% headline rate; effective rates can be as low as 3% on qualifying income, subject to applicable conditions
Both licences are issued under the Securities Act 2005. Contact us for current regulatory details.
Download Comparison FactsheetUsed for
- 01
International stockbroking and securities dealing
- 02
Portfolio management and advisory
- 03
Underwriting and distribution of securities
- 04
Principal trading and market-making
Ongoing obligations
- 01
Investment Dealer Team with fit-and-proper qualifications
- 02
Compliance Officer, MLRO and Deputy MLRO appointed
- 03
AML/CFT framework and procedures
- 04
Professional Indemnity Insurance
- 05
Annual FSC reporting and ongoing compliance
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 AcuFin supports it
Common questions
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