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ARTICLE · 05 NOVEMBER 2012

New Foundations Act Offers Structuring Opportunities In Mauritius

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The long-awaited Mauritius Foundations Act 2012 came into force on 1 July 2012.

MauritiusWealth Management
Malcolm Moller
Malcolm Moller
Sharmilla Bhima
Sharmilla Bhima
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The long-awaited Mauritius Foundations Act 2012 ("the Act") came into force on 1 July 2012. International investors are able to take advantage of this new vehicle to benefit from the large scale of double taxation treaties to which Mauritius is a party. Foundations are able to apply for Category 1 Global Business Licence. The existence of a new wealth management product along with the many structuring opportunities that accompany it will be of interest to a wide variety of clients. Key aspects of the Act are considered below.

Purpose and Objects

A foundation may be formed in Mauritius or elsewhere, for such purposes and objects as may be provided in its charter. In line with the Act, a foundation may be established by means of a will, and property and rights may be transferred to or endowed upon a foundation. The objects of a foundation may be:

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