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Financial Services Entities

Licensing the Manager Behind a Fund

We manage the FSC licence application for businesses that want to operate as a CIS Manager, handling the administration, distribution, and portfolio management of Collective Investment Schemes.

Overview

Overview

A CIS Manager is the licensed entity appointed to manage a CIS or a CEF day-to-day operation, administration, registrar and transfer functions, distribution, accounting records, and portfolio management.

We manage the FSC licence application for businesses that want to operate as a CIS Manager, and advise on the governance, staffing, and capital requirements the licence carries.

MUR 1 Million
Minimum Stated Capital
The minimum stated unimpaired capital required for an FSC CIS Manager licence.
USD 30,000
Minimum Annual Expenditure
Required to be incurred in Mauritius each year by a licensed CIS Manager.
AUM-Based
Staffing Requirement
The minimum number of qualified employees scales with assets under management.

What We Provide

Key Features

FSC Licence Application
Preparing and submitting the CIS Manager licence application, including governance and staffing plans.
Capital & Governance Structuring
Structuring the entity to meet the minimum stated capital and fit-and-proper requirements for officers.
Administrative Function Set-Up
Structuring the fund administration, registrar, and transfer agency functions the licence covers.
Portfolio Management Structuring
Structuring the investment management and portfolio management functions the licence permits.
Insurance & Compliance Set-Up
Arranging the professional indemnity and fraud coverage the licence requires.
Ongoing Reporting Support
Supporting quarterly and annual financial statement filings once licensed.

Process

How It Works

01
Activity Assessment
Understanding the intended scope of services and schemes to be managed.
02
Governance & Staffing Proposal
Structuring the entity's board and staffing against FSC fit-and-proper and AUM-based staffing requirements.
03
Documentation Preparation
Preparing the business plan and supporting application documents.
04
FSC Licence Application
Submitting the application and managing regulator queries through to approval.
05
Insurance & Systems Set-Up
Arranging required insurance cover and operational systems.
06
Licensing & Ongoing Support
Finalising the licence and supporting ongoing FSC reporting.

Practical Considerations

Requirements & Timeline

Regulatory Requirements

  • Minimum stated unimpaired capital of MUR 1 million
  • The applicant must be a body corporate, with officers meeting FSC fit-and-proper requirements
  • A minimum number of qualified employees, scaling with assets under management
  • Minimum annual expenditure of USD 30,000 in Mauritius
  • Professional indemnity and fraud/data-corruption insurance cover
  • Interim financial statements within 45 days of quarter-end; audited annual accounts within 90 days of year-end

Indicative Timeline

  • Governance & Staffing Structuring: 2–4 weeks
  • Documentation Preparation: 3–5 weeks
  • FSC Licence Application: 8–16 weeks
  • Operational Launch: 2–4 weeks post-licence

Common Questions

Frequently Asked Questions

It provides the administrative services a scheme requires, registrar and transfer functions, distribution of the scheme's securities, maintaining accounting records, along with investment guidance and portfolio management for the schemes it manages.
MUR 1 million in minimum stated unimpaired capital.
Yes, a minimum number of qualified employees, scaling with assets under management, plus a minimum annual expenditure of USD 30,000 in Mauritius.
Yes, subject to FSC approval and the manager's capacity to meet governance and staffing requirements across all the schemes it manages.
Not necessarily, a CIS can also be managed by a foreign regulated manager or structured as self-managed. A CIS Manager licence is for businesses that want to provide management services to schemes on an ongoing basis.

Continue Exploring

Related Services

Collective Investment Scheme (CIS)
The open-ended fund vehicle a CIS Manager is appointed to manage.
Learn More about Collective Investment Scheme (CIS) →
Fund Administration & Accounting
NAV calculation and fund accounting, coordinated with the CIS Manager's role.
Learn More about Fund Administration & Accounting →
Securities & Investment Dealer/Adviser Licensing & Management Services
Related licensing for asset management and treasury functions.
Learn More about Securities & Investment Dealer/Adviser Licensing & Management Services →

Establish Your Regulated Entity

We manage the FSC licence application for businesses that want to operate as a CIS Manager.

Speak with a Specialist