To open a corporate brokerage account in Mauritius you will need to prepare a number of documents and make sure they meet the requirements. The best possible terms and conditions start with a portfolio of 500,000 EUR. We will provide efficient professional assistance. You will get new advantageous business prospects with a brokerage account open in this jurisdiction.
Where to open a brokerage account in Mauritius for a non-resident company
Businessmen can open a corporate brokerage account in a specialized bank or a modern financial company equipped with all the necessary permits. Companies specializing in the securities trading cannot do without such an account.
Foreign companies active in the international market have ample opportunities to choose the right jurisdiction and their financial partner. Mauritius is the most appropriate place.
Mauritius is geographically anchored to the African continent, but it is located in the Indian Ocean just at the intersection of many trade routes. This gives the country many advantages. It has not only become a leader in economic development in the region, but it also invests in a number of developing economies.
Mauritius is a regular find for international business. The country occupies a number of leading positions:
- 58 on the UN E-Government Development Index 2016;
- 8 of the freest world economies with the highest rate of attractiveness for investment;
- 20 according to the World Bank in terms of easiness of doing business.
According to the Financial Services Commission, financial and insurance activities in 2018 accounted for 11.8% of the country’s GDP, which from USD 29.187 billion amounted to USD 3.444 billion. The banking and financial sector of Mauritius, with its almost two hundred years of history, is stable, reliable and efficient. This sector of the economy is subject to common law based on the English model and adheres to the principles of “best practice”. The jurisdiction is on the offshore “white” list.
Mauritius offers many prospects for companies earning from brokerage services. In addition to the good investment climate, the jurisdiction is also famous for its tax incentives. Those who have obtained permits from the Mauritian regulator:
- can trade currencies, bonds, stocks, CFDs, etc.;
- are exempt from capital gains or wealth tax;
- pay only a 3% corporate tax if they work as a forex company;
- can make savings thanks to free repatriation of dividends, profits and capital;
- are not subject to double taxation if registered in one of the 44 signatories to the agreement with Mauritius.
We recommend that foreigners open a corporate brokerage account in Mauritius with a secure international financial center. It is the most effective multi-platform trading service in the jurisdiction, a combination of advanced technologies and conservative values. Outside Mauritius it works as a stockbroker with no conflict of interest with its clients.
The Mauritius financial center we recommend was founded in 2001 by a well-known businessman, famous in the oil and diamond markets, who by that time had already created from scratch two brokers for large European banks. In 2013, the founder of the company repatriated to Mauritius and transferred his financial company there.
The international financial center founded by him offers for the seventh year in a row the largest selection of online trading platforms for brokers, serving all asset classes, from ETFs to CFDs, from stocks to bonds and from derivatives to currencies.
Benefits of opening a corporate brokerage account in Mauritius
Having opened a corporate brokerage account in Mauritius with the financial center we recommend, the foreign company will receive a large number of advantages. In addition to tax benefits, lack of bureaucracy, investment and reputational attractiveness, the offer will also give the following advantages to the broker:
- well-established partner relations with the foreign investment institutions;
- 24-hour online access to your accounts;
- a wide range of platforms for trading and financial instruments. You can easily switch between markets, platforms and instruments around the world to get a fully customizable portfolio;
- 24/7 support in various world languages;
- the ability to entrust professionals with managing your investments or, while maintaining full control over the decision-making, to instruct the specialists to carry out separate assignments. At the same time, the financial center will never be your competitor in bidding, because it only receives tasks to perform from its customers and does not take any risks;
- a corporate account with the access to a large range of financial and investment instruments;
- fast transfers to any state, and reliable data protection;
- continuous digital instruments updating for the customers’ comfort and convenience;
- access to 14 asset classes and the ability to trade from the same account using 7 online trading platforms, or direct market access for the “gurus”;
- being sure that your assets are safe while kept in the largest and highly-regulated financial institutions of the world;
- 24/5 personal customer service manager to assist you in tracking your conversions and sales;
- cooperation with a socially responsible organization that takes an active stand to improve living conditions on Earth. The trust established as a subdivision of the financial center we recommended, regularly implements various initiatives to promote education and culture, protect the flora and fauna of Mauritius.
Who can open an account in Mauritius?
The financial center whose services we recommend to the companies that earn on brokerage operations around the world does not set any special requirements for their potential partners. Find out more about that.
Since the jurisdiction is classified as a “white” list one as a result of compliance with the requirements of the world’s financial regulators, the requirement for the “purity” of financial transactions is also mirrored. Clients of banks and financial institutions in Mauritius must undergo identification and confirm their compliance with the anti-money laundering standards.
According to the above, all customers must complete the FATCA form. At that, companies owned by the USA citizens or persons registered there, or those subject to the USA IRS won’t be able to become our clients.
Restrictions on activities
It makes more sense to open a brokerage account in Mauritius only for those businessmen whose activities are related to trading, transactions with securities and their equivalents.
The service is designed for experienced financial companies, institutional brokers or individuals who wish to take their business to the next level by providing their clients with their own online trading platform. Customers can connect from a desktop PC, via online and mobile applications, Bloomberg EMSX, Fidessa, CG, etc. Direct connection to the market and back office via FIX/REST/Prop API.
The financial center we recommend categorizes its customers according to the following parameters:
- frequency of operations within a calendar year;
- size of their financial portfolio;
- client’s experience in the financial sector.
As a result of the evaluation, clients are assigned a particular profile. This classification is based on the European MiFID Directive.
Retail customers include all those that do not fall under the criteria for the professional categories. This status enjoys the maximum protection (full insurance from the financial center), but at the same time these customers are forbidden to carry out certain transactions (trading products that may contradict their interests in the absence of knowledge and experience). If you independently refuse the status of a retail client, you lose your right to protection and compensation to the investors.
Professional status and broader trading opportunities will be offered if a client meets two out of three criteria as follows:
- Carries out transactions of a significant size in the corresponding market with an average frequency of 10 transactions per quarter during the previous four quarters.
- Financial portfolio (defined as money deposits together with the financial instruments) exceeds EUR 500,000.00.
- Experience in the financial sector for at least one year in a professional position.
It is important: A customer applying for the professional status in general or for a particular investment service or transaction must notify the center in writing by filling out a special questionnaire. We will discuss this point in more detail so that you don’t have any misunderstandings or difficulties.
Corporate brokerage account in Mauritius for a non-resident: service plans
Having opened a corporate brokerage account in Mauritius you will receive a flexible income plan from the financial center. It is the best solution for asset/money managers trading on behalf of their company’s clients.
The cooperation result will be a successful online business building-up. Customers are provided with a fully automated software package to calculate the cost of service, performance and other types of payments. The financial center can also maintain an automated commission system which includes regular and voluminous commissions.
Currency for opening and making transfers
Financial transactions are carried out in the following major currencies: USD, EUR, GBP and others (upon request) in the Euro equivalent.
Types of accounts
- Corporate account with access to 7 online platforms with 14 classes of activity.
- Multi-account package for asset management.
- A trading account.
- Multi-currency accounts with the fast conversion.
Since stock exchanges in much of the world have introduced a charge for access to the data feeds, the financial center made a decision to charge its customers a one-time annual fee to cover the cost of the data exchange (which they operate on behalf of their customers) with the stock exchanges. This rule was established on April 2, 2016, based on existing fees for the calendar year, equivalent to 59 cents per trading day or 41 cents per calendar day.
A one-time annual fee paid by the customers is as follows:
- USD 150 for companies whose basic currency is the US dollar;
- GBP 150 in case your basic currency is the pound sterling;
- EUR 150 for those whose basic currency is Euro;
- the equivalent of 150 Euros for other basic currencies.
Certain trading accounts in the US basic currency will be charged the same fee in the amount of:
- USD 100 (equivalent to 39 cents per trading day or 27 cents per day);
- GBP 100 in case your basic currency is the pound sterling;
- EUR 100 for those whose basic currency is Euro;
- the equivalent of 100 Euros for other basic currencies.
Customers can use the online trading platform on a free basis. There is no account maintenance charge, no storage fee. No fees for payments, no fees for receiving orders by phone or email, as well as for providing continuous support.
Access to platforms
The owner of a corporate brokerage account in Mauritius is given the opportunity to choose one or more trading platforms from the list:
- stock trading, ETFs, CFDs, options, bonds, futures and currency (access to more than 30,000 products, high processing speed of less than 41 milliseconds);
- specialization in stocks, options and futures (access to the US and Canadian markets; fully customizable user interface, availability of multiple assets per account);
- for stocks, options, futures, ETFs, warrants, FX, bonds, funds and CFDs via API/UI (access to more than 50 markets via North America, Europe and Asia Pacific; extremely low commissions);
- platforms for trading stocks and fixed income (lombard lending – fixed income and shares; access to trading sessions via Fidessa, Iress, Fix and EMSX; dedicated trading posts for large orders). Access to the most significant exchanges of Southeast Asia. It is possible to find any share knowing its name or number, and get a fast confirmation of the bought deals status;
- professional multi-active platform for experienced investors with a focus on futures (multiple access points, including most the FIX networks; access to financial markets with a drift towards quoted derivatives, the ability to trade off-exchange supply contracts;
- professional UI set for trading and access to the API (direct access to FCM instruments; DMA futures, sponsorship solutions; low futures and options trading fees);
- Spot FX, indices, precious metals (for UK residents it is possible to get a tax-free business taxation based on spread rates).
- securities safekeeping (safekeepers are Citi Global, Nomura, UBS, Maybank, RjObrian, Admisi, DTCC, etc.);
- lombard lending;
- trading multiple asset classes from a single account;
- access to DMA Trading (guaranteed without disclosing identity and selling customer flows);
- trading with the chosen GUI interface (7 platforms and popular user interfaces such as Bloomberg EMSX, Fidessa, CG, TT, etc.);
- black box trading i.e. market access using various APIs such as FIX, Rest, etc.;
- available trading instruments such as cash shares, leveraged shares, CFDs, stock options, ETF/ETNs, mutual funds, futures, futures, futures options, spot FXs, FX forwards, FX Vanilla and exotic options, NDF;
- reporting includes a comprehensive reporting package for all online access platforms. Reports are also available via the API.
No service plan is used by default. The customer will be able to choose a full option with the ability to manage multiple accounts at the same time. Each of these cases is considered separately. A transparent commission scheme and flexible conditions are provided, which is guaranteed to lead to a significant increase in the customer base at low costs.
This price logic is simple. Fees for the multiple-asset platforms are higher than for the platforms with a single asset class. Pricing is calculated for each individual customer based on the following factors:
- trading volume;
- the number of asset classes used;
- account size and its composition;
- ancillary services such as telephone or email trading, transfers of securities and dematerialization of share certificates.
Price range for individual customers is as follows:
- Shares/Cfds are 0.85 cents per share to 4 cents per share for US markets.
- Futures/options are between 0.85 and 8 USD.
- Bonds are 0.15% to 0.5 %.
- Currency spot is 10 USD per million to 3 points in EUR/USD.
- Depositary is 0 to 50 bps.
Here are several examples of pricing:
AUM: 10,000,000 USD
- Shares: 2,000,000 USD per month.
- Futures: 100 lots per month.
- Options: 250 lots per month.
You need access to the trading post for placing orders.
Derivatives trading on the stock turnover.
Estimated rates for such a customer are 1.5 USD per share for the US market, 3 USD for futures, 1 USD for options, 20 bps. The customer will pay about 50-75 bps per year for the services of the financial center.
How to open a corporate brokerage account in Mauritius?
To be guaranteed to get a corporate brokerage account in Mauritius opened you are very much recommended to use professional assistance. The process of filling out questionnaires and preparing documents is quite sensitive, so it is difficult to do without any help.
Corporate brokerage account opening procedure:
- To open a corporate brokerage account in Mauritius please send us your request at: firstname.lastname@example.org.
- Prepayment for our services is from 3,999.00 EUR. You can make payment in a way the most convenient for you: bank transfer, payment card, WebMoney, PayPal, Western Union.
- Once we receive your payment, we will start working with the list of required documents that are to be submitted for opening an account. Please make sure to use English or French when filling out the forms.
Package of papers for opening a corporate brokerage account in Mauritius
All papers submitted for opening of a corporate brokerage account in Mauritius must be in originals or specifically certified copies.
For a private foreign company:
- Registration (one of the forms):
- An extract from the corporate register.
- Good Standing Certificate (or local replacement).
- Certificate of incumbency.
- Confirmation of the company’s legal address (either of the documents):
- Utility bills (scanned hard copies of the utility bills, such as electricity, gas, water, landline).
- Official tax notice (on the government letterheaded paper).
- Bank, mortgage or brokerage statement.
- Letter from the account bank with a signature and a stamp on the letterheaded paper with the confirming address.
- Office lease agreements (this document must include the property address, the date of the start and end of the lease).
3 . Other documents:
- Registration certificate (or local equivalent);
- Memorandum and Articles of Association (or local equivalent) and any notification of amendments made to them;
- Information about a registered office and/or a name change.
- Current registers of directors and the secretary; of the office’s legal address; of shareholders.
- The list of persons (if any) who, in addition to the applicant’s directors, have the right to give instructions on behalf of the applicant in relation to the applicant’s account with the IEL (authorized signatories).
- The Board’s decision on opening an account and giving authority to those who should manage it.
- Documents and data to verify the identity of persons authorized by the legal entity to manage the account, as well as registered shareholders and beneficiaries.
- In cases when registered shareholders act as representatives of the beneficiaries, a copy of the trust agreement made between the nominal shareholder and the beneficial owner must be presented.
For each director, shareholder (owning more than 20% of the shares), the beneficiary (owning more than 25%):
- an ID (passport, national ID, driver’s license);
- confirmation of the address (the document must not be older than 3 months);
- report on the source of wealth and a CV (exclusively for the beneficiary).
- in addition to the corporate documents one should also present an extract from the trust management document with the indication of all relevant parties in the trust.
For partnership companies:
- The above-mentioned corporate documents regarding the applicant;
- An original or a certified copy of the act of society (an acte de societe);
- In the case of foreign partnerships, a certificate of good standing;
- Documents to verify the identity of managers, administrators or grants.
Timeframes for opening a corporate brokerage account in Mauritius
Since each customer’s documents are examined personally, there is no general time frame for opening an account. We guarantee that with our support the opening time will be significantly reduced.
Please contact us by email to email@example.com if you wish to open a corporate brokerage account in Mauritius.