Restricted Investment Advisor
A targeted investment advisory licence restricted to sophisticated and professional investors, offering a streamlined regulatory pathway for boutique managers and specialist advisory firms.
A Restricted Investment Advisor licence is issued by the Financial Services Commission under the Securities Act 2005 and permits the holder to provide investment advisory and portfolio management services exclusively to sophisticated or professional investors. By limiting the eligible client base, the Restricted licence carries lower capital requirements and a more streamlined regulatory framework than the Unrestricted licence — making it an attractive and cost-efficient option for boutique asset managers, single-family offices, and specialist advisory firms that do not intend to serve retail clients.
Eligible Clients
A Restricted Investment Advisor may only serve sophisticated investors as defined by the FSC — typically high-net-worth individuals, institutional investors, corporations, and professional counterparties meeting prescribed net asset or income thresholds. Retail clients are not permitted.
Capital Adequacy
The FSC prescribes lower minimum capital requirements for Restricted Investment Advisors compared to the Unrestricted licence, reflecting the more limited client exposure and the reduced retail investor protection obligations.
Scope of Activities
The Restricted Investment Advisor may provide discretionary and non-discretionary portfolio management, investment advice, and investment research to sophisticated clients across a full range of asset classes and strategies.
Personnel Requirements
The FSC requires that key personnel hold relevant professional qualifications and demonstrate appropriate investment management experience. All key persons must be approved by the FSC prior to commencement of regulated activities.
Compliance Framework
Licence holders must maintain an AML/CFT programme, compliance officer, conflicts of interest policy, and client documentation meeting FSC standards. The reduced retail obligations simplify the compliance burden relative to the Unrestricted licence.
Licensing Process
Applications are reviewed by the FSC with particular focus on the business plan, financial projections, compliance framework, and qualifications of proposed key persons. PrimeLuxe manages the complete application process from initial assessment to licence grant.
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Our team will guide you through every step — from initial structuring advice through to incorporation, licensing, and ongoing administration.