Mauritius trusts and foundations
Since 2003, Healy Consultants has been assisting high net worth individuals meet their individual and business financial goals. If properly structured, a Mauritius trust and foundation can be 100% foreign-owned, and legally tax-exempt.
Why set up a Mauritius foundation?
- The Mauritius Foundations Act of 2012 was introduced to enable high net-worth non-residents to conduct i) charitable activities and ii) non-charitable activities such as estate planning.
- A Mauritius foundation is an ideal vehicle to use to i) hold assets ii) hold other forms of investment and iii) carry out inheritance planning.
- A Mauritius foundation can also be used for owning private trust companies.
Key features of a Mauritius foundation
- Asset protection and privacy: Mauritius foundation is an ideal structure to facilitate the confidential management of global assets without disclosing details of the beneficiaries.
- Tax optimisation: A Mauritius foundation with either i) non-resident founder(s) or ii) a GBC1 licence are exempt from income tax for the financial year.
Requirements of a Mauritius foundation
- A Mauritius foundation must have a Charter. This is the main constitutional document governing the i) functioning of the foundation ii) reservation of rights and powers to the Founder and iii) details on the administration of assets.
- A Mauritius foundation must have a council, which oversees the administration of the assets and ensures they meet its underlined objectives as outlined in its Charter.
- Each Mauritius foundation must have at least one member who is ordinarily resident in Mauritius. Healy Consultants Group PLC will be pleased to provide our Clients with the same.
- Each Mauritius foundation is required to have a secretary. Healy Consultants Group PLC will be pleased to provide our Clients with the same.
Other important considerations regarding a Mauritius foundation