Mauritius is a preferred jurisdiction for most types of fund structures including Listed Funds, Hedged Funds, Property Funds and Private Equity Funds. Funds registered with the Financial Services Commission in Mauritius are commonly structured as companies incorporated under the Companies Act 2001, governed by the Securities Act 2005 and licensed as a company holding a Category 1 Global Business Licence under the Financial Services Act 2007.  Dealing in securities or soliciting another person into securities transactions without a licence is unlawful.

There are mainly 3 types of investment funds in Mauritius:

1. Collective Investment Scheme (CIS),
2. ‘open-ended’ funds (i.e., with an open share capital) or
3. ‘closed-end’ fund (fixed share capital).

CIS are divided into 4 categories:

• Global Scheme,
• Professional CIS (for sophisticated investors),
• Specialised CIS (specialist funds) and
• Expert Fund.

The Fund must have its substance and central administration in Mauritius including a local administrator, a local custodian, and a local auditor. The requirement that central administration is situated in Mauritius implies that:

• the accounts are kept and the accounting documents are available in Mauritius;
• the share register is kept in Mauritius;
• issues and redemptions of shares are carried out in Mauritius;
• calculation of the Net Asset Value (NAV).
• two directors who are resident in Mauritius
• qualified secretary resident in Mauritius
• bank account is maintained in Mauritius with an offshore bank and investments are made via that bank account
• board meetings are initiated and chaired in Mauritius.

The Funds can be structured as two-tier funds, or increasingly as single tier funds. These funds can invest in a wide range of investment products, including portfolio or fixed income securities and venture capital. Mauritius Funds can be structured either a Company or Limited Partnership.

At Business Consult, our services are tailored based on your fund’s requirements and our fund administration team is committed towards providing you with a bespoke service, responding to your requests in a timely manner and advising you on your queries.

As a management company (administrator), we will be responsible for the day-to-day administration of your offshore fund in Mauritius and we will also undertake all relevant statutory filings with the regulatory bodies in Mauritius.

Our services include: 

• Offshore fund set-up and fund administration
• Administration services for funds domiciled outside Mauritius
• Compliance services
• Company secretarial services
• Accounting services
• Tax advisory services
• Registrar services
• Net Asset Value calculation using fund accounting software