Investment Adviser Licence
Investment Adviser Licence
The Investment Adviser Licence, issued by the Financial Services Commission (FSC) of Mauritius under the Securities Act 2005 and the Securities (Licensing) Rules 2007, authorises entities to provide investment advisory services in relation to securities.
Applicants must be licensed either as Investment Advisers or as representatives of an Investment Adviser and are required to operate through a Global Business Company (GBC) to benefit from Mauritius’ favourable fiscal regime.
The licence is available in three distinct categories, based on the scope of activity and minimum capital requirements.
Categories of Investment Adviser Licence
Investment Adviser – Unrestricted
Authorised to advise on securities and manage portfolios under a mandate (discretionary or non-discretionary), excluding corporate finance advisory.
Minimum stated capital: MUR 600,000Investment Adviser – Restricted
Authorised to provide non-discretionary investment advice on securities (excluding corporate finance).
Minimum stated capital: MUR 500,000Investment Adviser – Corporate Finance Advisory
Authorised to advise on fundraising, listing requirements, mergers, acquisitions, and corporate restructuring related to securities transactions.
Minimum stated capital: MUR 1,000,000
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Licensing Requirements
Applicants must satisfy the FSC’s conditions, including:
- Robust conflict of interest and information barrier procedures
- Defined scope and method of service delivery (binding or non-binding advice)
- All officers, shareholders, and beneficial owners must meet the fit and proper criteria
- Appointment of a Compliance Officer, MLRO, and DMLRO
- Advisory staff must possess appropriate qualifications and experience, with at least two dedicated professionals to ensure continuity
- Compliance with economic substance requirements when operating under a GBC
Taxation & GBC Advantage
When structured as a GBC, Investment Advisers benefit from the 80% partial exemption regime, reducing the effective corporate tax rate to 3% (from the standard 15%), subject to substance requirements being met. Mauritius continues to position itself as a competitive and transparent jurisdiction for licensed advisory firms, fund managers, and cross-border financial intermediaries.
