A Foundation has separate legal personality after its registration in Mauritius. A Foundation has full capacity to conduct any business activity in and outside Mauritius and has full rights, powers and privileges.
A Foundation is administered by a Council which deals with the assets of the Foundation and carries out the objects of the Foundation.
A Foundation may apply for a Global Business Licence in Mauritius. As such, the Foundation becomes tax resident in Mauritius. The Foundation shall then have access to the Double Taxation Agreements in force in Mauritius. A list of the Double Taxation Agreements in force can be consulted here: Double Taxation Agreements - Mauritius Revenue Authority (mra.mu)
Why register a Foundation in Mauritius?
A Foundation is one of the preferred private structures used by High Net-Worth Individuals to cater for their succession and inheritance planning, private wealth management, limited liability status and asset-holding strategies.
Setting up a Foundation in Mauritius, a reputable offshore jurisdiction, can provide numerous advantages to a Founder as well as Beneficiaries.
A Foundation in Mauritius may apply for a Global Business Licence if it wants to fall under the supervision of the Financial Services Commission (FSC) and become tax resident. As such, the Foundation will have access to the wide network of Double Tax Agreements (DTA) and Investment Promotion and Protection Agreements (IPPA) Mauritius has with other countries.
| Foundation - Key Features | |
|---|---|
| Founder | |
| Corporate Founder | Allowed |
| Council | =|
| Members | At least one should be resident in Mauritius |
| Beneficiary | |
| Number of beneficiaries | One or more |
| Protector | |
| Protector | Can be appointed |
| Secretary | |
| Secretary | Required. Should be a management company |
| Registered Office | |
| Registered Office | Should be in Mauritius |
| Taxation | |
| Residence | Can elect to be non-resident in Mauritius if founder and beneficiaries are non-residents |
| Tax | No if not tax resident in Mauritius |
| Charitable Foundation | Not taxable |
| Access to Double Taxation Treaties | Yes if tax resident |
| Re-domiciliation | |
| Re-domiciliation | Permissible |
| Annual Government Costs | |
| First Registration Fee | MUR 9,000 |
| Annual Registration Fee | MUR 9,000 |