By Lorna Pillay, Head of Corporates, Private and Institutional Asset Owners, Africa, India and Middle-East, and Tony Laguette, Associate Director, Business Development
The client, their challenge
A client with a background in the brokerage industry came to us seeking an investment dealer licence (IDL) in a well-regulated jurisdiction to gain access to liquidity providers, payment service providers (PSPs), and platform service providers. This client was already set up with licences in alternative jurisdictions such as Lebanon and St. Vincent and the Grenadines, but was looking at Mauritius due to its reputation as a leading financial hub with an internationally renowned regulatory framework.
Our solution
Based on the requirements of the client, we provided a turnkey solution to establish an IDL in Mauritius. Our support included:
- Handling the accounting, ensuring all financial records were meticulously maintained and complied with the local regulations
- Managing all corporate governance matters, including the preparation and filing of necessary documents
- Implementing robust compliance procedures to ensure adherence to the regulatory framework, including anti-money laundering (AML) and know your customer (KYC) requirements
- Taking care of all administrative tasks, ensuring the entity operated smoothly within the relevant deadlines
- Facilitating the opening of a bank account with a Mauritius-based banking institution, providing the client with the necessary financial infrastructure to operate effectively
The results
We remain a dedicated partner of the client, assisting with their day-to-day operations and ensuring the smooth management of the IDL.
Our support allows the client to focus on their core area of expertise and accelerate the growth of their business while benefiting from our expertise in maintaining compliance with Mauritius’ regulatory framework.
The client has access to a Mauritius-based bank account, which supports their financial operations, and has been able to leverage the advantages of operating in a well-regulated jurisdiction to expand their business and attract more partners.
