13 Nov Fund Management in Mauritius
Mauritius offers a preferable jurisdiction for all the major types of fund structures. Incorporation of FSC under the Companies Act of 2011 allows the funds to register. Meanwhile, the Financial Services Act of 2007 & Securities Act 2005 lets the investors get the license. Both open-ended funds under the collective investment scheme and closed-ended funds are available.
Common funds have to go under the GBC1 (Category 1 of Global Business License). The most common types include – Listed Funds, Property Funds, Hedged Funds, Private Equity Fund & others.
Collective Investment Scheme (CIS)
The definition comes from the Securities Act of 2005, implying the following terms –
- Security portfolio, real property, special sort of financial & non-financial assets.
- Principle of diversification of risks.
- Obligation towards less commission/fee for redeeming the net asset value.
- No day to day control over the property management.
- Security exchange enlisted closed-end funds.
It’s indeed the ultimate option for real estate/property or private equity funds. The criteria come from an arrangement/scheme collected from –
- Subscribers during an offering.
- Sophisticated investors.
- Financial/non-financial assets.
Special Purpose Fund (SPF)
It got introduced in 2013 by FSC under domestic law. The fund itself remains tax-exempt aiming at the attention of international fund promoters. Either CIS or Closed-End Fund can go for the intended fund type.
Fund Setup Categories
The fund type depends on the promoter’s objective & fund nature. There are 4 distinctive funds to set in Mauritius – Global CIS, Professional CIS, Specialized CIS & Expert Funds.
Mauritian authority allows the promoters to structure relevant funds as limited partnerships or companies.
We have an expert team to help with the overall process from the very beginning. And team specialized in delivering certain services like –
- Establishment of client preferred fund type.
- Provision of registering office addresses, local directors & secretary residents.
- Management of confiscated information for investors.
- Preparation of financial statements regarding international standards.
Related Tag: Occupation Permit Mauritius