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BVMT · Tunisia

Best Stockbrokers in Tunisia

The Bourse de Tunis (BVMT) is one of North Africa's longer-established markets, with about 80 listed companies dominated by banking, industrial, and consumer goods names. Account opening for foreign investors is straightforward; most major Tunisian banks operate brokerage arms.

Regulator: Conseil du Marché Financier (CMF)
Depository: STICODEVAM

5 regulated brokers covering BVMT

Every broker listed below is licensed by Conseil du Marché Financier (CMF). We do not rank them — order is informational only. Always verify current licensing on the regulator's website before opening an account.

Tunisie Valeurs

Traditional Broker

Tunisia's largest independent stockbroker and asset manager. Strong research desk and full BVMT execution.

Best for:
Institutional, HNW, and foreign investors
Mobile app:
Yes
Access:
Foreign investors welcome
Visit Tunisie Valeurs →

MAC SA

Traditional Broker

Established Tunisian brokerage offering BVMT equities, fixed income, and asset management.

Best for:
Mid-tier and institutional clients
Mobile app:
No
Access:
Foreign investors welcome
Visit MAC SA →

Attijari Intermédiation Tunisie

Bank-Affiliated

Brokerage subsidiary of Attijariwafa Bank's Tunisian operation. Bundled banking + BVMT trading.

Best for:
Attijari clients and Francophone diaspora
Mobile app:
No
Access:
Foreign investors welcome
Visit Attijari Intermédiation Tunisie →

Amen Invest

Bank-Affiliated

Amen Bank's brokerage arm. BVMT execution, mutual funds, and corporate finance advisory.

Best for:
Amen Bank clients and retail investors
Mobile app:
No
Access:
Foreign investors welcome
Visit Amen Invest →

Compagnie Gestion et Finance (CGF)

Traditional Broker

Independent Tunisian broker with BVMT execution and asset management.

Best for:
Independent advisory clients
Mobile app:
No
Access:
Foreign investors welcome
Visit Compagnie Gestion et Finance (CGF) →

How to open an account on the BVMT

  1. 1

    Open a STICODEVAM account

    Tunisia's central depository — opened through any CMF-licensed broker.

  2. 2

    Tunisian fiscal ID

    Foreign investors need a Tunisian tax registration number for dividend tax administration. The broker typically handles this.

  3. 3

    Foreign currency funding

    TND is non-convertible outside Tunisia. Foreign investors must wire EUR or USD into a Tunisian FCY account; conversion to TND happens at the prevailing rate.

  4. 4

    Repatriation

    Capital and dividend repatriation is allowed for foreign investors provided initial funding was documented as inward foreign-currency. Maintain documentation.

KYC documents you'll need

  • Valid passport
  • Tunisian fiscal ID
  • Proof of address
  • Inward remittance documentation
  • Source-of-funds declaration

Fees and tax

Dividend withholding tax10%
Capital gains tax — non-residents10%
Typical brokerage commission0.6% – 1.2%

Fees and tax rates are indicative and change. Verify current rates with your broker and the latest Finance Act before transacting.

Frequently asked questions

Can foreigners freely repatriate proceeds from Tunisia?

Yes, provided you documented your initial funding as an inward foreign-currency remittance. Keep your bank documentation; this is what enables repatriation when you exit.

Is the BVMT liquid?

Liquidity is concentrated in the top 10–15 names — mostly banks (Banque de Tunisie, BIAT, ATTIJARI Bank) and large industrials. Mid-caps require patient capital.

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