13 Oct Setting Up a Mauritius Trust
Whether it’s relocation, business investment, or professional work – Mauritius offers all. As it happens, you always need to secure the assets. Creating a trust seems a highly beneficial & rewarding option.
The requirements tend to vary as per client perspectives. It’s one decision to keep yourself adopted top the system rather quickly. Not to mention, you can set a trust as a pre-immigration step ahead of moving to Mauritius.
Mauritius Trust Offerings
There are a good number of services you’re to receive from a created trust. Essential offers mostly include –
- Asset protection, property/investment holding.
- Tax exempted projects like charitable organizations.
- Investment funding for estate/succession planning.
- Absolute confidentiality of clientele deliberations.
- Protection against any forced/imposed regulations.
It’s essential to assure the presence of 3 certainties ahead of creating trust. The certainties include – intention, subject matter & beneficiaries.
You’re to get 4 basic types of trust in Mauritius.
- Purpose – It specifically focuses on certain goals or objectives, not the beneficiaries.
- Charitable – As the name suggests, it keeps focusing on charitable organization aid.
- Corporate – It’s all about corporate benefits, pension, taxes, employee management.
- Private – Life interest gets attention, in terms of discretionary & accumulating assets.
How to Create Mauritius Trust
Mauritius implemented Trust Act 2001 to govern the trust creating, approving & regulating platform. You’re to write a document stating the object & intention to establish a supporting trust. It also has to include trustee responsibilities & powers to apply. Representative authority will validate the documented request towards final approval.
There are 2 different formats to set up a trust to stay in Mauritius.
- Settlement: The agreement comes with very clear, specified & strict conditions between interested parties. Both the trustee & the investor have to sign the contract. It requires the statement of trust intention in particular.
- Declaration: It’s more like a trustee document, containing evidence records. All the terms of ownership remain secure including the targeted assets or property. Trustee himself/herself signs the document for utilization.