Investment dealer (full-service dealer including underwriting)

Global Business (GB) is a framework available in Mauritius to a resident corporation which proposes to conduct business activities outside Mauritius. GB is regulated by the Financial Services Commission (the ‘FSC’) under Section 71(1) of the Financial Services Act 2007 (FSA). There are 2 categories of Global Business Licences: 

• Category 1 Global Business Licence (GBL1);
• Category 2 Global Business Licence (GBL2).

Corporate Requirement:

• Certificate of Incorporation;
• Certificate of current standing (where applicable);
• A certified true copy of any licence/registration/authorisation held;
• List of controlling shareholders and directors;
• Latest audited financial statements; 
• Corporate Profile - in case the latest audited accounts are not available;
• Confirmation from the applicant/Management Company to the effect that it holds on record CDD documents on the controlling shareholders of the corporate body and that these will be made available to the Commission.

According to the FSC Investment Dealer (Broker) for Section 2.2 can do the following activities: 

• Procedures with respect to onboarding and risk profiling of clients;
• Details on the trading platform to be used; 
• Process and transaction flow;
• Execution of trades;
• Details on trade confirmations to clients;
• Details on monitoring of clients activity. 

The applicant shall maintain a minimum stated unimpaired capital of Mauritian rupees 7 00,000 or an equivalent amount and submit evidence pertaining thereto. 

For a Global Business Company, the following should be submitted: 

• An undertaking that the applicant shall at all times maintains the prescribed minimum stated unimpaired capital (currently, MUR 700,000 or it’s equivalent in another currency).
• An undertaking that the applicant will not start its operations, trade, or incur any liabilities prior to meeting its minimum unimpaired stated capital of MUR 700,000 
• An undertaking that within one month of the licence being issued evidence that the proceeds of the share issue amounting to MUR 700,000 or its equivalent have been credited to the applicant’s bank account will be submitted to the Commission. 

For a domestic company applying for an Investment Dealer (Full Service Dealer excluding Underwriting) Licence, the following should be submitted: 

• The applicant should ensure that the stated capital of MUR 700,000 is injected prior to the licence being issued.
• Certified true copies of statutory filings with respect to the share capital.
• Confirmation that the stated capital is fully paid