Financial License

Eltoma can help you become a Full Service Investment Dealer that is licensed in Mauritius.

This license will allow you to provide the following services:

  • Act as an intermediary in the execution of securities transactions for clients;
  • Trade in securities as principal with the intention of reselling these securities to the public;
  • Give investment advice which is ancillary to the normal course of his business activities; and
  • Manage portfolios of clients

The minimum capital requirement shall be Rs 1,000,000 equivalent to USD 34,000.

 

Taxation:

The company will need to be structured as a company holding a Global Business Category One License (GBL1). The Forex dealing activities falls under the Investment Dealer category. GBL1 are governed by the Income Tax Act 1995, under which they are taxed at the flat rate of 15%. Mauritius law allows an underlying foreign tax credit, equal to the amount of foreign taxes paid, up to the amount of tax due in Mauritius. In the absence of proof, the amount of foreign tax paid is presumed to be 80% of the Mauritius tax. The effective tax rate can thereby be reduced to a maximum of 3%. There is no capital gains tax, nor withholding tax on dividends and interest paid to non-residents.

 

Description of services provided by Eltoma’s Associate in Mauritius:

A. The Company’s Registered Office

B.  Two (or such other number as may be mutually agreed) persons residing in Mauritius and who shall be persons of appropriate calibre to exercise independence of mind and judgment to be directors of the Company.

C.  The administration of the Company.

D.  Act as Corporate Secretary for the Company.

E.  Assist in opening one (or more) bank account(s) in the name of the Company, its principal bank account being opened with a bank in Mauritius.

F.  Treat as confidential all information exchanged with the Client.

Take the next step, we are here to help.

Register a Mauritius company.
Open a Mauritius bank account.

  Resources:

Keeping Europe Up-to-date with the Latest Legal & Financial Technology

Keeping Europe Up-to-date with the Latest Legal & Financial Technology

The financial world is undergoing a technological revolution, with approximately 3 trillion financial deals entered into using digital ledger technology (DLT) and smart contracts within the next five years.

FATCA: Foreign Financial Institutions & NFFE’s

FATCA: Foreign Financial Institutions & NFFE’s

The Foreign Account Tax Compliance Act (FATCA), which was passed as part of the HIRE Act, was implemented to able foreign financial Institutions and certain other non-financial foreign entities to report on the foreign assets held by their US-based account holders or be subject to withholding tax on the relevant payments.

ICOs: A Smart Business Decision or Just a Risky Investment?

ICOs: A Smart Business Decision or Just a Risky Investment?

There are many financial experts voicing their concerns over ICOs being too much of a risky investment, however should we be so quick to dismiss ICOs as a legitimate vehicle? ICOs can be used as a substitute for Venture Capital funding due to parallels in the phase of company’s lifespan and risk profiles, which give potential opportunities for future start-ups and companies.

How Initial Coin Offerings Differ from Initial Public Offerings

How Initial Coin Offerings Differ from Initial Public Offerings

Since the hectic and intense ecosphere of the cryptocurrency ventures conception, a new sphere has caught investors’ attention from all over the world, being coined ICOs or Initial Coin Offerings.

Reasons for the Prevalent Misappropriation of Public Funds by Officials in CIS Countries

Reasons for the Prevalent Misappropriation of Public Funds by Officials in CIS Countries

Thorough analysis of the nature, content and determinants of the offence of misappropriation of public funds by officials, it gives grounds to reach the conclusion that a lot of different reasons somehow ‘provoke’ and ‘give the possibility’ to commit this offence.

Notional Interest Deduction: A Useful Tool for Cyprus Companies

Notional Interest Deduction: A Useful Tool for Cyprus Companies

The corporate income tax rate of a Cyprus-resident company is 12.5% on its global taxable revenue, with unilateral credit for related foreign tax suffered. Moreover, non-Cyprus residents are not liable to pay Cyprus withholding taxes on payments. Frequently, the effective corporate tax rate is much lower, or even as low as nil, due to various tax exemptions and allowances.

How Cyprus is Retaining its Competitive Edge as a Favourable EU Jurisdiction for Tax Purposes

How Cyprus is Retaining its Competitive Edge as a Favourable EU Jurisdiction for Tax Purposes

The recent implementation and increasingly stringent tax developments globally can affect companies with offices in different countries; rendering them non-viable if certain factors are not carefully considered.

5 Important Considerations When Starting a New Business

5 Important Considerations When Starting a New Business

According to commercial regulations in many common law jurisdictions, Directors have a duty of care requiring them to act in good faith for the company’s best interest, and using reasonable consideration of all available options before acting.