'Special Licenses' in Mauritius
Investment Adviser Licence
The Investment Adviser Licence provides a trusted, tax-efficient, and credible platform for investment advisory businesses to serve international clients from Mauritius.
What is the Investment Adviser Licence?​
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The Investment Adviser Licence is one of the three classes of Securities or Capital Market Intermediary licences under the Securities Act 2005. It is regulated by the Financial Services Commission (FSC) Mauritius through the Securities (Licensing) Rules 2007.
In line with Section 30 of the Act, no person or company can provide investment advice, portfolio management, or hold themselves out as offering these services in Mauritius without being licensed as an Investment Adviser (or as a representative of one).
Mauritius offers the advantages of a modern securities framework that is responsive to international standards, efficient in processing times, and supported by competitive capital requirements, making it one of the most attractive jurisdictions for establishing an investment advisory business.
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Types of Investment Adviser Licence​​
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The FSC issues three types of Investment Adviser Licence, each tailored to the scope of services provided:
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Investment Adviser (Unrestricted):
Authorised to to both manage securities portfolios under a mandate and provide investment advice.
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Minimum capital: MUR 600,000 (approx. USD 13,600)
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Investment Adviser (Restricted):
Authorised to provide advice on securities transactions (excluding corporate finance advisory).
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Minimum capital: MUR 500,000 (approx. USD 11,300)
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Investment Adviser (Corporate Finance Advisory):
Authorised to advise on securities transactions in relation to listings, fundraising, restructuring, mergers, and acquisitions.
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Minimum capital: MUR 1 million (approx. USD 22,700).
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Tax Benefits​
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Investment Advisers licensed under a Global Business Licence (GBL) benefit from Mauritius’ partial exemption regime:​
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80% of gross revenue exempt from tax
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Effective corporate tax rate reduced to just 3% (standard 15% rate applied only on 20% of revenue)
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No capital gains tax and no withholding tax on dividends or interest
This makes Mauritius one of the most competitive and cost-efficient jurisdictions for establishing regulated investment advisory operations.
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Key Licensing Requirements
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Applicants for an Investment Adviser Licence must meet FSC standards to ensure credibility, governance, and investor protection. Requirements include:
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Conflict of Interest Controls – Segregated operations and internal procedures to prevent misuse of inside information
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AML/CFT Framework – Appointment of an MLRO, DMLRO, and Compliance Officer, alongside robust AML policies
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Qualified Team – At least two experienced and qualified investment professionals to ensure continuity
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Fit & Proper Test – All promoters, directors, shareholders, beneficial owners, and key staff must meet “fit and proper” criteria
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Service Framework – Clear details of services offered, delivery methods (binding/non-binding advice), and operational scope
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Economic Substance – For GBL entities, compliance with Mauritius’ economic substance rules in line with FSC circulars
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Why Mauritius?​
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Mauritius has positioned itself as a jurisdiction of substance and credibility. It offers a flexible regulatory framework, competitive taxation, and an internationally respected financial services environment. The country’s bilingual workforce, cost-efficient professional services, and global connectivity make it an attractive base for investment advisers targeting clients across Africa, Asia, and beyond.
By securing an Investment Adviser Licence in Mauritius, firms gain a trusted regulatory platform, tax efficiency, and a strategic gateway to fast-growing markets.
