Other Licenses & Services
With a steadfast commitment to excellence, OMAHA offer an array of solutions tailored to meet your specific needs. From securing specialized licenses such as Payment Intermediary Services, CIS Manager & Administrator, Investment Adviser, Investment Dealer, and Family Office, to providing essential ancillary services like registered office provision, legalization and apostille services, and guidance in matters of relocation, residency, and property acquisition, we are your partner in navigating the complex landscape of regulatory compliance and operational efficiency. Additionally, our expertise extends to safeguarding your intellectual property through trademark and intellectual property services, ensuring holistic support across every facet of your business journey.
Specialised licenses
The Payment Intermediary Services (“PIS”) License is of interest to those who wish to operate as an online Payment Service Provider (“PSP”). With a PIS License, the company can offer merchant online services for accepting electronic payments by a variety of payment methods including credit card, bank-based payments such as direct debit, bank transfer, and real-time transfer based on online banking. The main customer base is often composed of online merchant sellers.
With a PIS license, a company serve its clients by offering the following range of services:
- offer wallets/accounts to individuals and corporate clients;
- offer Merchant services like trustee payment processing, credit card processing to companies, online shop owners or any kind of Merchant that is operating according to its local and the Mauritius laws;
- enable customers funding of their wallets, process incoming and outgoing payments directly via correspondence banks or through other Payment Services Providers e.g. in Europe to use the SEPA infrastructure of third parties;
- charge fees for accounts opening, incoming and outgoing transfers, credit card processing, other payment methods;
- issue account certificates to your account holders;
- offer online banking and transfer options for individuals and corporate clients;
- Issue debit cards by co-branding or white label.
CIS Manager
A Fund is required to be managed by an investment manager licensed as a CIS Manager by the FSC, or a Fund that is constituted as a company may be self-managed, that is, it is managed by its board of directors, with the approval of the FSC.
Nevertheless, a Fund may also be managed by a foreign investment manager, provided that it holds a GB company licence and has received prior approval of the FSC to appoint that foreign manager.
The minimum unimpaired capital is Mauritius rupees of 1 million.
CIS Administrator
A CIS Administrator needs prior approval of the Financial Services Commission (“FSC”) to provide administration services to a Collective Investment Scheme (“CIS”) and on such terms and conditions as the FSC deems appropriate, a CIS manager or a CIS, where appropriate, may appoint a CIS administrator to provide administrative services with respect to a CIS.
The three types of Investment Adviser Licence being issued by The FSC under the Securities Act are as follows:
1. Investment Adviser (Unrestricted)
The holder is authorised to manage, under a mandate, portfolios of securities and give advice on securities transactions, other than corporate finance advisory, through printed materials or any other means.
The minimum unimpaired capital is Mauritius rupees of 600,000.
2. Investment Adviser (Restricted)
The holder is authorised to give advice on securities transactions, other than corporate finance advisory, through printed materials or any other means.
The minimum unimpaired capital is Mauritius rupees of 500,000.
3. Investment Adviser (Corporate Finance Advisory)
The holder is authorised to provide corporate finance advisory services with respect to securities transactions through printed materials or any other means. Such services cover, amongst other things, compliance with the listing requirements of any security exchange, the raising of funds through the issue of securities, and arrangement or restructuring of a corporation, including takeovers and mergers and acquisitions.
The minimum unimpaired capital is Mauritius rupees of 1,000,000.
The Mauritius Investment Dealer Licence, issued by the FSC permits the holder to establish a trading platform in Mauritius and trade securities and similar on behalf of clients.
Three categories of Investment Dealer licences are issued in Mauritius under the Securities Act, as follows:
- Investment Dealer (Full Service)
- Investment Dealer (Broker)
- Investment Dealer (Discount Broker)
Mauritius is a destination of choice for ultra-high-net-worth individuals (UHNWI) and high-net-worth individuals (HNWI) that wish to establish family offices.
Family offices are companies that are set up to manage funds and assets for wealthy individuals and families, they are often limited partnerships or limited liability companies. These companies will offer a range of financial services, including investment services and asset management, to help them manage and grow their wealth.
There are 2 types of Family Offices that can be set up in Mauritius:
- Family Office (Single) License (“SFO”)
- Family Office (Multiple) License (“MFO”)
The Family Office, whether it is an MFO or SFO may be wholly owned by family clients and exclusively controlled by family members / family entities.
The following persons are connected persons in relation to an individual within an SFO or MFO:
- Spouse;
- The descendants of the individual and their spouses;
- Parents, including step-parents;
- Grandparents;
- Parents-in-law, including step-parents-in-law;
- Brother, step-brother, sister, step-sister and their spouses;
- Spouse’s grandparents;
- Spouse’s brother, step-brother, sister, step-sister and their spouses and children;
- Parent’s brother, step-brother, sister, step-sister and their spouses;
- Children of the brother, step-brother, sister or step-sister of the individual’s parents, both present and future, including stepchildren, and their spouses; and
- Children of the individual’s brother, step-brother, sister or stepsister, both present and future, including step-children, and their spouses.
Both SFO and MFO are duly regulated by the Financial Services Commission (FSC). The FSC has now issued the Financial Services (Family Office) Rules 2020 (the “Rules”) to set-out the rules applicable to Family Offices, and better define the activities and functionaries of Mauritius Family Offices.
Activities of a Family Office
The classic vehicles to establish a Family Office are a trust, foundation or limited liability company. The activities that a Family Office may provide include, but are not limited to, the following:
- Trusteeship services
- Estate and Succession planning
- Wealth planning and protection
- Fund management, portfolio management and investment advisory
- Establishing family governance, strategies, board(s) including family charter(s)
- Asset protection
- Asset holding services
- Multi asset class administration and reporting
- Risk management, compliance, and reporting
- Administration, accounting, taxation and reporting
- Legal services from our international law firms
- Philanthropic and charitable structure
- Family education
- Concierge services (aircraft management, yacht management, real estate management, private events)
Criteria for a Family Office
| SFO | MFO | |
| Physical office in Mauritius | Yes | Yes |
| Minimum number of employees in Mauritius | 1 | 1 |
| Assets under management per family | USD 5 million | USD 5 million |
| Appointment of an approved officer, such as OMAHA | Mandatory | Mandatory |
| Money Laundering Reporting Officer (MLRO) | Yes | Yes |
| Deputy Money Laundering Reporting Officer (DMLRO) | Yes | Yes |
| Fully paid minimum unimpaired capital | USD 35,000 | USD 70,000 |
| Professional Indemnity Cover | Mandatory subscription | Mandatory subscription |
| Annual compliance | Submission of an annual statement of compliance to the FSC within 6 months after financial year end | Submission of an annual statement of compliance to the FSC within 6 months after financial year end |
| Risk Management | Risk Management Approach is required, and reviewed on an annual basis | Risk Management Approach is required, and reviewed on an annual basis |
| Auditor | Such appointment requires the approval of the FSC | Such appointment requires the approval of the FSC |
