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The foreign investment dealer licences issued by the Financial Services Commission in Mauritius are getting increasing popular among many of the Brokerage Houses worldwide. An application for a foreign-investment-dealer licence must be made under a category 1 Global Business Company and the licence is granted subject to the approval of the Financial Services Commission. The Securities Act 2005, coupled with the Securities (licensing) Rules 2007, remain the main legal framework governing the provisions and setting the parameters within which a GBC 1 with an investment-dealer licence can operate.
Issued by: Financial Services Commission (FSC), Mauritius. Under Mauritius Financial Services Act 2007 and Securities Act 2005.
Shareholder: Minimum of one shareholder allowed. Shareholders may be individuals and/or corporate entities. Shares may be subscribed by nominees but beneficial owners must be disclosed to the authorities. (Note that this information is confidential and is not available on public records.) Directors and secretary: 2 local directors. One IBC Limited can provide the 2 resident directors to meet all government requirements. Accounts and tax: Must maintain all accounting records in Mauritius. Financial statements must be in accordance with internationally accepted accounting standards. Must file tax return and advanced payment system with the Mauritius Revenue. Net tax is 3% or less of the taxable profits. Other benefit: May become member of Stock Exchange of Mauritius and become a participant of Central Depository & Settlement.
| Step | Activity | Estimate time | Main responsibility | Payment |
|---|---|---|---|---|
| 1 | Clarification of Services | 2 days | Both One IBC and client | |
| 2 | Payment for deposit to process services | 1 day | Client | US$ 9,000 |
| 3 | Incorporation Mauritius GBC1 Company | 3 days | One IBC | |
| 4 | Open Bank Account in Mauritius GBC1 Company with ABC Bank | 5 days | One IBC | |
| 5 | Prepare full set of documents, apply for licence (Note: at the same time as step 4) | 5 days | Client provides information All paperwork done by One IBC | US$ 15,000 after |
| 6 | Submit to Mauritius FSC and government | 5 days | One IBC May revise or update some information | |
| 7 | Inform client if licence approved | 1 day | Remain fee | |
| 8 | Deliver all original document to client’s address | 2 days |
Depending on the types of licence you require, you normally need to provide your legal entity document, shareholder/director information, business plan, and some others such as finance statement audit, rental office agreement etc. Rest assured we will support you to do it all.
Generally, there is no need for any business license when forming an LLC. However, depending on the state and the industry in question, an LLC will need appropriate business licenses when operating. There are many types of license, issued at different levels, from federal all the way down to local town hall. Some states have laws making general business licenses compulsory regardless of the company’s type of business.
In order to avoid any trouble regarding business licenses for your LLC, check with the state government office or consult a corporate service provider like One IBC to have a list of all potential required business licenses.
Some industries require a federal license. In other words, if an LLC operates in any of these sectors, they need to apply with the federal government for their business licenses:
All businesses operating in Alaska must have a state business license. The Occupational Licensing Section of the Division of Corporations, Business & Professional Licensing handles this.
In California, there is no standard state business license. However, companies have to apply for local business licenses at the city's offices or city hall.
The Delaware Division of Revenue requires business licenses, even for companies doing business outside of the state. City and/or county business licenses are also compulsory as well.
Florida business license is applied at the Department of Business and Professional Regulations Application Center. Most counties in Florida also require business/occupational licenses or business tax receipts.
The Maryland Department of Business and Economic Development has a list of statewide business licenses and a list of any counties’ special licenses or permissions, very convenient to check if the company needs any license in this state.
In New York, there is no standard state business license, but there are some industry specific and/or local licenses.
There is no statewide business license in Texas. In most Texas cities, a local business license is not necessary as well. However, some industries require their own specific licenses.
A state business license is compulsory in Washington, processed by the Business Licensing Service. Local business licenses are required in Washington as well.
The business license number is located at the top of the business license certificate or it is usually corresponding with a certain other number issued by the government office during the application process. The business license number can also be looked up at the local business license office using said other number if the certificate is not available.
The type of business license number (also known as a company license number) depends on the city, county or state in question. Most companies, regardless of their size, must register for a business license number and apply for any additional necessary licenses. Some firms need to have a business license number ready before starting their business operation.
In some cases, simply having a tax identification number (such as the EIN) is sufficient. This depends on the type of business, as well as the location in which it is located and operates. Bear in mind, a tax identification number is not the same as the business license number because it is used solely for federal financial purposes.
Your company may need to obtain one or more types of business licenses and permits in order to legally operate in the country it is registered in. The types of business license will depend on the jurisdiction you reside in, products and/or services you're selling, your company structure, and the number of employees you have. Because there are too many different license and permit requirements in each country/jurisdiction, there is no universal way to know exactly what type you need for your business.
Here are some common types of business licenses and permits you should know:
Before starting a business, you must have wondered at some point, what types of businesses need a license? As required by government law, businesses must have at least one business license or permit issued by their local, county, or state government. The exact type of business license you need will depend on where you're operating, the products or services you're selling, and what your business structure is.
Here are some types of businesses that require a license that you need to know about:
You need a general license to run your business in almost any country and territory.
Businesses need a seller's license to be able to sell their products and services in-store or online. It is also possible to collect sales tax on any taxable goods.
A DBA license allows you to legally operate your business under a brand name other than the one you have registered with the government. In certain areas, this license is also known as a trade name license.
Many types of businesses such as restaurants, beauty salons, tattoo parlors must be inspected and considered for a health license. This license helps keep you and your customers safe.
You will need this license regardless of the type of business that serves alcohol, including bars, restaurants, event venues and more. You should also consult the laws and permits from the Alcohol and Tobacco Tax and Trade Bureau before starting to operate.
Certain types of companies as well as employees require a professional license before operating. Most of the companies that need this type of license operate in the service sector such as accounting, legal advice, infrastructure repair.
When you start a new offshore business, it is likely that you will have to apply for a business license and other necessary permits to run your company legally.
The industry and location you run your business will determine which types of license and permit you need. The license fee will vary accordingly. Because it takes time and resources to get a business license, it is important to find an expert to get the advice on what you need to get a business license.
For more information, please visit here to learn about steps and what you need to get a business license for your offshore company.
Almost all businesses will need some type of license, and many businesses will need to apply for several different types of permits. This depends largely on where you live and the type of industry you're in. Here are the licenses and permits needed to start a business that you should know.
Above is a brief list of licenses and permits needed to start a business, which we hope has provided the necessary information for you and your future business.
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