| Type | Investment Adviser Unrestricted | Investment Adviser Restricted | Investment Adviser Corporate Finance Advisory | CIS Manager |
|---|---|---|---|---|
Definition as per CIS Regulations of Securities (Licensing) Rules 2007 & Securities Act 2005 |
Authorise to manage, under a mandate, portfolios of securities transactions through printed materials or any other means. |
Authorise to give advice on securities transactions through printed materials or any other means. |
Authorise to provide corporate finance advisory services with respect to securities transactions through printed materials or any other means. |
Authorise to carry out the following activities for the management of a collective Investment Scheme including : (a) All administrative services required by the scheme; (b) Provision of registrar & transfer facilities; (c) Distribution of the securities of the scheme; (d) Maintenance accounting records of the scheme; (e) Giving investment advice advice in relation to the scheme; (f) Managing the portfolio of the scheme |
Type of Licence required to be eligible |
GBC + Investment Adviser (Unrestricted) LicenseGBC + Investment Adviser |
(Restricted) LicenseGBC + Investment Adviser |
(Corporate Finance Advisory) |
LicenseGBC + CIS Manager License |
DTA benefits |
Yes |
Yes |
Yes |
Yes |
Taxation |
15% (minus 80% Partial Exemption subject to meeting the Substance Requirements) |
15% (minus 80% Partial Exemption subject to meeting the Substance Requirements) |
15% (minus 80% Partial Exemption subject to meeting the Substance Requirements) |
15% (minus 80% Partial Exemption subject to meeting the Substance Requirements) |
Minimum Stated Unimpaired Capital |
MUR 600,000 - circa USD 17,500 |
MUR 500,000 - circa USD 14,500 |
MUR 1,000,000 - circa USD 30,000 |
MUR 1,000,000 - circa USD 30,000 |
GBC Licence Processing Fee (One-Off) |
USD 500 |
USD 500 |
USD 500 |
USD 500 |
Activity Licensed Annual Fees |
USD 1,900 |
USD 1,200 |
USD 2,500 |
USD 2,500 |
Registrar Annual Fees |
USD 300 |
USD 300 |
USD 300 |
USD 300 |
Substance Requirements |
Yes |
Yes |
Yes |
Yes |
(1) The Company shall have at least 2 directors, resident in Mauritius;
(2) The Company shall maintain at all times its principal bank account in Mauritius;
(3) The Company shall keep and maintain, at all times, its accounting records at its registered office in Mauritius;
(4) The Company shall prepare its statutory financial statements and causes such financial statements to be audited in Mauritius;
(5) The Company shall provide for all meetings of directors to include at least 2 directors from Mauritius; and The Company must meet, at all times, the following additional pre-defined substance
(6) carry out its core income generating activities in, or from, Mauritius, as required under the Mauritius Income Tax Act, as amended and this includes:
a) carrying out its core income generating activities in Mauritius;
b) employing, directly or indirectly, an adequate number of suitably qualified persons to conduct its core income generating activities; and
c) incurring a minimum expenditure proportionate to its level of activities.
(7) be managed and controlled from Mauritius; and
(8) be administered by the Management Company, Premier Financial Services Limited.