Mauritius is recognized as a leading regional centre for offshore fund structuring and administration, for investment particularly in Indian, Asian, Middle East and African countries. The Companies Act 2001 and Securities Act 2005 and Rules issued there under permit the establishment of open and closed ended schemes. Unit trust schemes and foreign recognized schemes may be registered in Mauritius. Funds may also be established as protected cell companies.
Categories of Collective Investment Scheme
Under the Mauritius Income Tax Act 1995, an annual tax return must be filed to the Mauritius Revenue Authority by all Mauritius incorporated companies (apart from GBL2 Companies), and Mauritius tax resident trusts.
Sphere assumes full responsibility for the following:
- Global Funds
- Professional CIS – Professional CIS are CIS which offer their shares solely to sophisticated investors or as private placements. The Professional CIS are exempted from most on-going obligations/regulations generally imposed on public CIS.
- Specialised CIS – A Specialised CIS is a CIS which invest in real estate, derivatives, commodities or any other product authorised by the Financial Services Commission.
- Expert Fund – An Expert Fund is a CIS that has applied to the Commission to be licensed as an Expert Fund. Expert Fund is only available to expert investors. An Expert Investor is an investor who makes an initial investment, for his own account of no less than USD 100,000 or is a sophisticated investor. The Expert Fund is exempted from most on-going obligations/regulations generally imposed on public CIS.
The setting up of a local investment management or advisory companies are encouraged.