Mauritius New Special Purpose Vehicle Company (SPV)

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Over the years, MAURITIUS has emerged as a reputable International Financial Centre of Excellence and has become the new hub for set up of various Fund Structures by many international Investors, Private Equity firms, Hedge Fund, Asset and Wealth Managers. It is also the ideal gateway into AFRICA and ASIA with a reasonable level of Good Governance. In an attempt to boost the attractiveness of Mauritius as a platform for business, the FSC has revamped the rules applicable to Special Purpose Funds (“SPFs”). Below is a quick snapshot:

Legislations
  • Financial Services (Special Purpose Fund) Rules 2021
Types of Special Licenses
  • Set up as a GBL entity with Special License.
  • A collective investment vehicle (open-ended fund) or a close-ended fund can apply for recognition as a SPF.
Authorization by the FSC
  • Any scheme may apply to the Commission under these Rules for an authorization as a special purpose fund in such form and manner as may be determined by the FSC.
  • An authorisation under these Rules may be granted on such terms and conditions the Commission considers necessary.
Obligations
  • A special purpose fund shall
    • offer its shares, solely by way of private placements, to investors having competency, significant experience and knowledge of fund investment;
    • have a maximum of 50 investors and a minimum subscription of USD 100,000 per investor;
    • at all times be:
      • managed by a CIS manager; and
      • administered by a CIS administrator.
    • comply with any such other conditions as may be imposed by the Commission.
Taxation
  • Tax rate in Mauritius is 15%.
  • However, income derived by SPFs shall be tax exempt subject to meeting certain substance conditions.
Substance Requirements
  • The special purpose fund, the CIS manager and the CIS administrator shall carry out their relevant core income generating activities in, or from, Mauritius, and shall:
    • employ, directly or indirectly, an adequate number of suitably qualified persons to conduct such core income generating activities; and
    • incur a minimum expenditure proportionate to the level of such activities.
Listing on Stock Exchange
  • Possible
Banking Solutions
  • Presence of many International Banks in Mauritius
  • Robust Banking Solutions
  • Possibility to open accounts in multiple currencies (USD, EUR, GBP, ZAR, CHF, and many more)
  • Internet Banking Services provided
  • No need to be in Mauritius for Bank Account opening

This a brand-new Company Structure, so more information will be posted soon. Prices will vary depending on individual client needs.

We will provide a full quotation upon receipt of your individual requirements. More information will be posted soon.