A global fund can be structured in Mauritius as a company, a trust, or a protected cell company.
There are two broad categories of investment funds which are regulated in Mauritius:
i) Collective Investment Scheme (CIS) which have the following characteristics
- Pooling of funds from investors
- Common investment of that money into a portfolio of investments
- Investment based on risk diversification principle
- Redemption at the option of the investors
- Investors who do not participate in the day to day management
ii) Closed End Funds (CEF) which are commonly known as Private Equity Funds
The different categories of CIS in Mauritius are as follows:
Global Scheme
Fully regulated CIS
Expert Fund
Is only available to ‘Expert Investors’. An Expert Investor is an investor who makes an initial investment for his own account of no less then $100,000. The Expert Fund is exempt from most on-going obligations/regulations generally imposed on Public CIS.
Professional CIS
Offers its shares solely to sophisticated investors or as private placements. The Professional CIS is exempted from most ongoing obligations/regulations generally imposed on Public CIS.
Specialised CIS
Invests in real estate, derivatives, commodities or any other product authorised by the Financial Services Commission.
Advantages of a Mauritius funds include:
- Fiscal incentive-low tax regime
- Can have access to the double taxation treaties
- Listing on the Stock Exchange of Mauritius (‘SEM’)
Our Services include:
- Co-ordinating advice from local and international lawyers and advisors
- Obtaining the necessary regulatory consents, certifications and licences
- Reviewing the fund documentation, including drafts of the prospectus
- Assistance with identification and sourcing of suitable non-executive directors
- Establishment of the fund and underlying investment holding vehicles
We offer a comprehensive and tailored secretarial, administrative, accounting, registrar and transfer agency services including:
- Provision of registered office and company secretarial services
- Provision of resident directors and officers
- Board meeting facilitation and support
- Processing related investor due diligence
- Processing fund subscription and redemptions
- Fund accounting and preparation of financial statements
- Net asset value calculations and reporting
- Investor communications and reporting
- Arrangement of annual audit
- Management of banking facilities
- Maintenance of statutory records and registers
We also provide similar services to fund functionaries including investment managers and advisors.