A Fund is a structure whose activities involve the investment of funds in a portfolio of securities and whose operation is based on the principle of diversification of risk
The Securities Act 2005 broadly provides for two categories of Funds:
  • Collective Investment Scheme (‘CIS’) and;
  • Close-ended Fund (‘CEF’)
Collective Investment Schemes (‘CIS’)
A Collective Investment Scheme means a scheme constituted as a company, a trust, or any other legal entity prescribed or approved by the FSC
  • Whose sole purpose is the collective investment of funds in a portfolio of securities, or other financial assets, real property or non-financial assets as may be approved by the Commission
  • Whose operation is based on the principle of diversification of risk,
  • That has the obligation, on request of the holder of the securities, to redeem them at their net assets value, less commission or fees, and
  • Where the participants do not have a day to day control over the management of the property, whether or not they have the right to be consulted or to give directions in respect of such management
Closed End Funds (‘CEF’)
A Closed-end fund is an arrangement or a scheme, whose object is to invest funds, collected from subscribers during an offering made to investors or from sophisticated investors, in a portfolio of sec

  • Approval to operate as a fund from the Financial Services Commission (FSC)
  • Funds may be set up as a company, limited partnership, trusts, and protected cell companies.
  • A fund conducting business principally outside of Mauritius and whose majority of shares/voting rights/legal or beneficial interests are held by non-citizens will also be required to apply, in addition to their fund authorisation, for a Global Business Licence (GBL).
  • It is a mandatory requirement for any corporation holding a GBL to be administered by a management company duly licensed by the FSC (Administrator).
  • Funds set up in Mauritius may be managed by an investment manager in Mauritius holding a CIS manager license and a GBL (where it is managing a GBL fund) or may be self-managed
  • A fund authorised in Mauritius needs to file an offering document with the FSC. The type of offering document and the relevant disclosure in this document will vary depending on the category of the fund and the target investors. The prospectus needs to comply with a list of prescribed disclosure requirements, including the matters required by the Mauritius Securities Act 2005 (the Act) and the rules and regulations made thereunder.
Advantages of Funds in Mauritius:
  • Being listed on the Stock Exchange of Mauritius
  • Being exempt from Capital Gains Tax
  • Tax liability of 0-3% on business profits in Mauritius
  • No withholding tax on dividends, interests or royalties
  • No compulsory participation of local investors
  • Access to a wide network of Double Taxation Avoidance Agreements
Our fund services:
  • Formation of fund
  • Advice on the most efficient structure from various perspective mainly tax, substance, company law and compliance
  • Fund Administration
  • Assist with opening of bank accounts, handling matters following deliberations at Board meetings, liaison with service providers and regulatory authorities.
  • Tax Advisory
  • Ensuring compliance with licensing conditions and on-going rules & regulations.
  • Transfer Agent services
  • Fund Accounting