Mauritius: Types of Company
Mauritius Offshore Trusts are set up under the Trusts Act 2001 (they used to fall under the Offshore Trusts Act 1992); the regime for trusts is based on English common law. Offshore trusts are subject to the following conditions:
- The settlor must not at any time be a resident of Mauritius, although an offshore company can be a settlor;
- At least one trustee must be resident in Mauritius; offshore companies (which are deemed to be resident) can be trustees if authorised by the FSC;
- Trust property must not include real property situated in Mauritius.
Trusts pay a one-time registration fee; there are no disclosure or annual reporting requirements.
The Trusts Act 2001 incorporated a thorough modernisation of Mauritian trust law which is fully described in Offshore Law.
See Offshore Legal and Tax Regimes for details of the taxation regime for offshore trusts, which is largely unchanged under the new legislation.