Acts like a trust,
functions like a company.
With the coming in force of The Foundation Act 2012 (the ‘Act’) on the 1st of July 2012, international clients are now able to incorporate foundations in Mauritius, a flexible vehicle which expands the scope of financial services industry in Mauritius. A foundation is an entity which is incorporated and has a legal personality. It has its own specific and unique features even if it has some common features with limited companies and trusts.
A foundation is formed for the purposes provided in its charter, including carrying out the objects specified therein and according to Mauritius law. It may be charitable or non-charitable or both and for the benefit of a person or a class of persons or carry out a specified purpose or both.Foundations in Mauritius may also, upon application to the Financial Services Commission (‘FSC’), hold a Global Business Category 1 License (“GBL1”) and be entitled to have access to vast DTAA network of Mauritius.
FOUNDATION CREATED IN MAURITIUS ALLOWS FOR, INTER ALIA
Recognition in all
common and civil
Avoidance of forced
Separation of voting
and economic benefits
Employee benefit plans, retirement & stock option schemes, insurance plans and special financing arrangements
(KEY FEATURES) MAURITIUS FOUNDATIONS
|Secretary||Shall be a management company or be such other person resident in Mauritius as may be authorised by the Financial Services Commission.|
|Registered Office||In Mauritius to which all communications and notices shall be addressed and which shall constitute the address for service of legal proceedings on the Foundation.|
|Foundation Council||Shall administer the property of the Foundation and carry out the objects of the Foundation. A Foundation Council shall have at least one member who shall be ordinarily resident in Mauritius.|
|Name||Ending with the word “Foundation” or a word in a foreign language which has the same meaning as the word “Foundation.|
|Taxation||Non–Resident foundation is tax exempted in Mauritius.A Mauritius foundation can elect to be non-resident where the beneficiaries and settlor are non-resident.|
Our experience with Sphere has been incredible. Despite our being a relatively small fund, their team has been consistently responsive & proactive, amazingly helpful and, most importantly, patient and flexible. Access to their network has been worth its weight in gold. We are grateful to the Sphere team for all they have done and continue to do.
With Sphere, I am in safe hands… I can go on holidays now..
Being in the Financial Services for over 40 years, I have seen a trend where Big Institutions are more concerned about profits than their valued clients. It is therefore pleasing to evidence outstanding service from Sphere. I am most impressed with your service.