Much water has flown beneath the bridge since the mediaeval days of knights going off to the Crusades and leaving their lands to someone to hold it to the use of themselves and their family. What started up effectively as a device to circumvent feudal rigidities has turned out to be a most useful tool for practitioners. Indeed, with its inherent flexibility and the ability to separate legal and equitable ownership, trusts can be used to achieve any lawful end. This article considers a few of the potential uses of Mauritius offshore trusts, which are governed by the Offshore Trusts Act 1992 (the "Act").
Preservation Of Wealth
Traditionally, trusts have been used by individuals to preserve the family wealth and ensure that it is distributed in accordance with their wishes. With a Mauritius trust, the settlor can arrange to receive income of the trust during his lifetime and he can determine who, in what proportion and for what purpose shall receive the trust fund at his death. The
