Investment Adviser (Restricted) License

Core Income Generating Activities

The Investment Adviser is one of the three classes of Market Intermediaries created by the Securities Act 2005 and regulated by the Securities (Licensing) Rules 2007.

The said Act provides for an Investment Adviser (Restricted) License which authorizes to:

• advise, guide or recommend other persons, or hold himself out to advise, guide or recommend other persons, whether personally or through printed materials or by other means, to enter into securities transactions.

Enhanced Substance Requirements

Licensing conditions include, inter alia, carrying out of its core income generating activities at all times in, or from, Mauritius by:

• employing, either directly or indirectly, one qualified person to carry out the core activities, and
• having a minimum level of expenditure of USD 30,000.

Minimum Unimpaired Capital

There is a requirement as per the Securities (Licensing) Rules 2007 to maintain a minimum stated unimpaired capital of MUR 500,000 (equivalent to approx. USD 12,500).

The licensee shall inform the FSC immediately where its minimum stated unimpaired capital falls below the minimum required.

Regulatory Fees

• FSC Processing Fee: USD 500
• FSC Fixed Annual Fee: USD 1,200