Local incorporation for investing in several other financial services.
"Application for an exchange licence
12. (1) A public company may apply for an exchange licence in respect of one or more types of securities.
[...]
PART V - LICENSING OF DEALERS, INVESTMENT ADVISERS AND THEIR REPRESENTATIVES [...]
Grant of dealer’s licence or investment adviser’s licence
31. (1) A dealer's licence shall only be granted to a company incorporated under the Companies Act, 2009, if it meets:
(a) the capital adequacy standards prescribed by the Registrar under section 74 of this Act, and, (b) minimum financial requirements as may be determined by rules of a securities exchange as approved by the Registrar.
(2) In cases where an investment adviser intends to carry on a class of business involving the management of a portfolio of securities on behalf of clients for investment purposes, an investment adviser's licence shall only be granted if the investment adviser meets and continues to meet the capital adequacy standards prescribed by the Registrar under section 74 of this Act.
[...]
PART VI - COLLECTIVE INVESTMENT SCHEMES [...]
Conditions for authorisation of schemes
41. Subject to the provisions of this Part, the Registrar may only authorise a collective investment scheme if the:
(a) scheme has both a manager and a trustee or custodian;
(b) manager of the scheme is incorporated in Swaziland and has its registered office in Swaziland;
[...]
Restriction on management of collective investment schemes
43. (1) A person who is not a company which has been registered as a manager under this Part or its authorised agent shall not manage or carry on any scheme.
(2) A person who is not a company which: (a) is registered under the Companies Act, 2009; and, (b) meets the capital adequacy standards prescribed by the Registrar under section 74 of this Act, shall not be or remain registered as a manager in terms of this Act.
[...]
Qualifications of trustees or custodians
55. (1) A person other than: (a) a company registered as a company under the Companies Act, 2009; (b) an institution licensed to carry on business as a banking institution under the Financial Institutions Act, 2005; or, (c) an institution which is registered as an insurer under the Insurance Act, 2005; shall not become or act as a trustee or custodian under a scheme.
[...]
PART XII - CENTRAL SECURITIES DEPOSITORIES AND CLEARING AND SETTLEMENT OF SECURITIES TRANSACTIONS [...]
Licensing of central securities depositories
107. (1) A public company may apply to the Registrar for a licence to establish and operate a central securities depository [...]" (SECURITIES ACT No. 9 of 2010)
SECURITIES ACT No. 9 of 2010
[<a href="https://www.fsra.co.sz/legal/legislation/TheSecuritiesAct2010.pdf">Act</a>]